The First E-Wallet App To Offer Microloans In Malaysia Is Here

Date:

Share post:

GoodKredit is here to help those in financial need

E-wallets are becoming the next best thing since online banking for sure. Not only is it an easy, secure way of making payments, but there’s also the possibility of getting plenty of deals and even cashback when using it too. So what else could offer to make it more attractive? Well, why not offer a loan to guarantee that you have enough to pay for your needs?

That’s the goal with GoodKredit, the latest e-wallet app to be the country’s first automated short-term microloan provider. The goal is to offer Malaysians in need of urgent funds a quick financial solution. The financial situation of most Malaysians today is so dire that very few can pull out RM1000 in times of emergency and that’s where GoodKredit comes in.

Licensed under the umbrella of Credit Community (Kredit Komuniti) by the Ministry of Housing and Local Government (KPKT) and governed by the Moneylenders Act 1951, GoodKredit’s service offers a microloan between RM 1,000 to RM 10,000. These loans come in the form of cash with a repayment tenure of either six, nine or twelve months and an Annual Percentage Rate (APR) of 18%. No collateral or a guarantor is required.  

It’s important to note though that the approval for the loan is highly dependent on not just your credit score, but it also uses algorithms based on your habits on your mobile device. Also, you will need to eventually enter the app’s main office to sign important documents, so for now it’s not recommended to get the loan if you’re outside the Klang Valley.

GoodKredit is now available nationwide and may be downloaded on the Apple App Store and Google Play Store.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

5 Things New Entrepreneurs Should Know Before Buying a Business

Starting a business is an exciting prospect, full of hopes for innovation, financial success, and personal development. In...

China’s Xiaomi to start deliveries of its first EV model

China's Xiaomi, a leading technology company, is poised to make a notable entry into the electric vehicle (EV)...

China on the Hot Seat: New Zealand accuses China of hacking its parliament

Amid escalating tensions in cyberspace, New Zealand accuses China of hacking its parliament in 2021, highlighting the growing...

PepsiCo invests $400 million to expand its footprint in Vietnam

In a significant move, the renowned U.S. food and beverage giant PepsiCo invests $400 million in Vietnam. The...