Maybank has launched its new personal digital finance Maybank which provides instant approval then disbursement in 10 seconds.
Leveraging the bank’s comprehensive credit risk metrics and modeling capabilities, the new solution features a decision engine capable of performing pre-qualification checks and evaluating each application in real time.
All existing and new customers between the ages of 21 and 60 can apply for Maybank Personal Digital Finance.
Maybank customers can apply for up to RM100,000 or four times their monthly salary, whichever is lower, with no proof of income required.
Approval is conditional on the client having a salaried account with the bank, a minimum annual gross income of RM42,000 and fulfilling the bank’s other eligibility criteria, such as a profile and score of healthy credit.
The solution also provides applicants with an overview of their offer including financing amount, interest and profit rate, repayment term as well as monthly repayment amount before the offer is accepted.
New or existing clients whose income records do not reside with Maybank can also apply with an additional step of uploading their income documents.
The decision will be communicated to clients the same day, with funds being disbursed within a day of approval, if they meet the eligibility criteria.
Funding option is now available under conventional or Islamic options on Maybank2u website and MAE app, .
Dato’ John Chong, CEO of Maybank’s Community Financial Services Group, said:
“In addition to fast disbursement, Maybank Personal Digital Finance does not require collateral or a guarantor, making it ideal for customers who need cash immediately.”
This year, we expect at least 30% growth in our personal finance segment, driven by the introduction of Maybank personal digital finance,”
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