AEON Bank Introduces 100% Digital Shariah-Compliant Financing Facility
AEON Bank (M) Berhad has just announced the launch of Personal Financing-i (PF-i). This is a 100% digital, Shariah-compliant, collateral-free financing facility.
This new financing facility is open to all Malaysians aged between 18 and 55 years old. A monthly gross income of RM3,000 or more is needed to qualify. Gig economy workers, families of multigenerational households managing multiple financial commitments and Malaysians seeking a flexible financial facility are also eligible to apply for it.
Get financing from RM1k to RM10k
Those who qualify for PF-i would be eligible for financing within the range of RM1,000 to RM10,000. PF-i offers a flexible repayment tenure ranging from 3, 6, 9, 12, 18 to 24 months.
This collateral-free, Shariah-compliant financing offers a flat profit rate of 6.88% per annum. It comes with effective profit rate ranging from 10.29% to 12.70% per annum.
“With the launch of PF-i, we aim to make it possible for more Malaysians to take charge of their financial well-being — be it through managing their financial needs for individuals or family, seizing new opportunities, or planning for a more secure future in an evolving digital economy,” said the CEO of AEON Bank (M) Berhad, YM Raja Datin Paduka Teh Maimunah Raja Abdul Aziz.
Fully online application via mobile app
The application process for PF-i is fully online. Applicants can apply for it via the AEON Bank mobile app without the need for paperwork or visiting a physical branch. Customers just need to follow these simple steps:
- Active Savings Account-i pre-requisite: Applicants must have a valid and active AEON Bank Savings Account-i.
- Eligibility check and employment details: Must be Malaysian citizens aged 18 and above, with minimum monthly gross income of RM3,000. Salaried employees or self-employed workers are eligible.
- Financing selection: There are six flexible options. They range from 3, 6, 9, 12, 18 to 24 months.
- Document submission: Upload latest EPF statement reflecting their latest 6-month contributions for salaried workers. For self employed, upload latest 6-month bank statement.
- Approval and fund disbursement: Upon approval, funds will be disbursed directly into the applicant’s AEON Bank Savings Account-i. Repayments will be automatically deducted via monthly auto-debit.
Once approved, customers will be able to use the AEON Bank digital app to track their financing plans.
