Kuwait Finance House (KFH) is an Islamic banking group originating from Kuwait. This bank is amongst the fasted growing banks in Bahrain, Turkey, Jordan, Saudi Arabia, UAE, Oman, Bangladesh, Singapore and Malaysia. Currently KFH is partnering with COSHARE Holding Berhad and I.Destinasi Sdn Bhd (IDSB) to offer its products for private financing to employees of the government and statutory bodies. COSHARE provides a salary deduction code for your employer, just like service bureau ANGKASA or BSN. The financial products of KFH also include investment products, corporate business, housing and others.
Thursday, May 23, 2013
Hong Leong Personal Loan
Wish you could have more cash in your hand?
With Hong Leong Personal Loan you can, because the monthly installment on our loan starts from as low as RM133.33 a month. What's more, it's really easy to apply and takes only 48 hours to approve.
So apply today to start enjoying the extra cash immediately!
Get our Personal Loan today to enjoy:
- Monthly installments as low as RM133.33 *
- Fast Approval within 48 hours **
- Flexible repayment tenure of up to 5 years
- Eligibility minimum income of only RM24, 000 per annum
- No guarantor and no collateral
Affordable monthly installment
at 12:34 AM
Wednesday, May 22, 2013
While it is true that lenders are reluctant to lend money to those applicants who have been declared bankrupt in the recent past, it would be a mistake to think that approval is out of the question. Getting a personal loan after bankruptcy is really down to approaching the right lender and finding the right terms to suit the reality of your situation.
Of course, there is no denying that bankruptcy is a serious matter, and it is impossible to get excellent loan terms until credit status is recovered fully. But it is possible to secure approval despite low credit scores from lenders who are willing to accept the extra risk in the knowledge that the borrower benefits more from maintaining repayments than abandoning them.
But what can an applicant expect from a personal loan application process when they are beginning their recovery from bankruptcy? What is needed to convince the lender that their investment is safe?
Satisfying Qualification Requirements
The first step in submitting an application for a personal loan after bankruptcy that has any chance of success is to ensure all of the qualifying criteria are fully satisfied. This means that proof of a reliable source of income is necessary.
In most cases, lenders will only consider applicants that have a full-time job, and have held it for a minimum of 6 months prior to submitting their application. Admittedly, this is normal when seeking approval despite bad credit scores, but it is essential in this case because lenders need to know that repayments are possible.
Proving affordability is also essential, so it is a good idea to apply for only small personal loans. Even if $10,000 could be handled comfortably, only seek $5,000 to ensure the lender sees no issue at all with affordability.
The Terms To Look For
Obviously, the loan terms affect your chances of approval on a personal loan after bankruptcy. With that in mind, it is important to center attention on matters like interest rates and repayment periods. These can be crucial in establishing affordability.
For example, even if the interest rate is not great, a longer repayment period means that the size of the monthly repayments is smaller. This means the pressure to meet repayments is lower, and so getting approval despite low credit scores is much more likely.
Remember, however, that as an applicant seeking a first loan since bankruptcy, it is necessary to accept compromises that may seem expensive. But by repaying these personal loans without a hitch, the road to financial recovery is assured, so the extra expense is worth it.
Unsecured or Secured Loans
There are some other considerations too, not least whether to seek an unsecured or a secure loan. Without doubt, it is much harder to get an unsecured personal loan after bankruptcy, with the lack of assurance making more lenders reluctant to even consider approving the loan.
It is possible to get a small unsecured loan, but the terms may be too expensive to accept. A secured loan is much more likely to be approved because the lender is protected from any losses. It may be an idea to find a cosigner too, to offer a guarantee repayments will be made. This makes approval despite low credit scores almost certain.
Finally, there are ways to improve your credit reputation before seeking a personal loan. For example, get a secured credit card and made the necessary repayments on time. After just 6 months of regular repayments, lender will have a track record that indicates reliability.
at 9:55 PM
It is normal for those with poor credit histories to believe that the chances of securing a large loan are pretty small. We have been brought up to believe lenders hate bad credit borrowers, so approving an application for a $10,000 loan with bad credit can seem very far from possible. But this is actually far from the truth.
Lenders are as open to lending to bad credit borrowers as to anyone else. The only hurdle to approval is the criteria and conditions that make up their lending policies. These relate mainly to your employment status and the state of your debt-to-income ratio, but as long as these are in good order, even getting loan approval with no security is a realistic possibility.
Also, for one seeking a large personal loan, but with the hindrance of poor credit scores to deal with, approval can come down to the type of loan that is applied for. The right loans package has the right terms, and there are some that even those with terrible scores should carefully consider.
1. Your Local Bank Loans
In truth, this is the first option that any of us think of, before weighing up the chances of getting approval. Usually, we believe those chances to be low, so we look elsewhere. But approval is possible, even on a $10,000 loan with bad credit as long as the deal is proven affordable.
Lenders really only want to be sure they will get their money back (with interest, of course) so even approval with no security is possible. However, approval comes at a cost. Typically, the interest rate charged is high, and the loan limit is low. This means a $10,000 loan is harder to get.
The conditions applicants must satisfy include being full-time employed for at least 6 months prior to submitting the application, and having a debt-to-income ratio that ensures monthly repayments fit comfortably within the 40:60 limit. Satisfy these, and large personal loans are within reach.
2. A Private Lending Source
When traditional lenders, like local banks, are expected to reject your application for a $10,000 loan with bad credit, then an alternative needs to be found. Often, approaching a family member is the best one - and it certainly has advantages. Not least amongst them is that interest is generally not charged, and the repayment terms are always flexible.
However, there are other private lending sources other than your own family members. These include independent private lending firms, not affiliated to any large financial institution. These firms are experts in bad credit lending, so offer terms that are ideal for your position.
For example, the chances of getting large loan approval with no security are greater because the terms of the loan deal ensure repayments are more affordable. A longer repayment period keeps repayments, even on a large personal loan, quite low and so the chances of default are fewer.
3. Using Home Equity For Loans
A third option involves using home equity as security. This means that a share of the value of your home is risked, but when seeking a $10,000 loan with bad credit, it is almost a guarantee of approval. The reason is the value that lenders place on property as a form of security.
Also, since equity relates to the value of a home that is not covered by a mortgage, the size of the equity can be extremely high. In fact, while seeking approval with no security on a $75,000 loan is practically impossible, equity makes it a safe bet.
This makes equity ideal when seeking very large personal loan, and with security ensuring interest rates are kept low, these loan deals can also be affordable.
at 9:50 PM
Monday, May 20, 2013
Bank Islam Personal Loan
Amount of Funding:
Based on eligibility limit and subject to a minimum of RM10, 000 and a maximum amount of RM200, 000 **
Maximum of 15 years (180 months) or until retirement age, whichever is earlier
Floating Rate (Base Financing Rate (BLR):
1-3 years: BLR - of 2.10% per annum
4-10 years: BLR - 0.60% pa
11-15 years: BLR +0.25% per year
Note: Current Base Financing Rate - 6.60% per annum.
- Applicants must be 18 years and not exceeding the retirement age at the end of the payment period.
- Citizens of Malaysia.
- Minimum fixed income of RM2, 000 a month.
- Government sector
- Selected Public Listed Companies
- Subsidiaries of Government or Selected Public Listed Companies
- Selected Limited Company categorized under package companies listed by Bank Islam
at 9:35 PM