Whether you’re paying for your family’s medical expenses, planning a home renovation, or simply needing a financial boost, Bluebricks makes financing easy and stress-free! We believe that obtaining personal loans should be simple, fast, and affordable, without the headaches that often come with traditional banks and lending institutions.
At Bluebricks, we understand that time is of the essence when seeking a personal loan. That’s why we’re committed to streamlining your personal loan application process, ensuring fast approvals and low interest rates.
Our personal loan specialists strive to maximise your approval chances, provided you possess a good financial record and documentation. Even if you have high financial obligations (e.g. car loans, personal loans, PTPTN, credit card bills, and mortgage loans), we’re able to help.
We can also assist individuals with poor credit, although it may be hard to gain approval as lenders will worry about your ability to make payments. Nonetheless, we carefully evaluate each application individually to develop solutions to help you achieve your financial goals.
Once your loan application is approved, you will receive an approval message from the bank.
The next step is to sign the letter of offer. You can visit one of the bank’s branches or have a call recording with a bank representative (depending on the bank’s policies).
Additionally, in order to receive your funds, some banks require you to open a savings account with them. However, this requirement may vary depending on the bank you are borrowing from.
After your savings account is set up, the loan amount will be disbursed into the account within one to two working days.
Banks have their own criteria for any loan application, and being employed is one of them. This is because your income indicates if you are capable of repaying the loan.
If you fail to prove that you are employed or are producing enough income to repay the loan, the bank will automatically reject your loan application.
Even if you have proven that you are employed, any changes to your income can also affect your personal loan application in Malaysia. For example, although your credit score does not indicate your current income level, banks will require you to disclose the information for further assessment. Your application will be rejected if your salary does not meet the bank’s requirements.
Some of us may not have credit cards or other financial commitments as we are too worried about spending. However, this does not help when applying for personal loans in Malaysia. This is because the bank does not have enough information to decide if you are a good paymaster or otherwise.
We provide an all-inclusive collateral service and act as a one-stop financial solutions provider. All you have to do is provide us with your relevant documentation, such as your income statement, assets and liabilities, employment record, and credit history. We will then prepare and submit your collateral and documents to your preferred lender for approval.
Here’s what you can do to increase your chances of getting a higher personal loan amount on your desired loan:
However, it is still possible to be turned down for a loan despite having a good credit score. But don't lose hope just yet!
Our team has experience working with clients who have faced similar challenges, and we can explore alternative options to help you secure the financing you need.
Take on additional work or negotiate a raise at your current job.
With a longer loan tenure, you can benefit from lower monthly repayments, thus making the loan more affordable. However, keep in mind that it will also increase the overall interest cost.
You might not be aware, but every credit inquiry to your file can negatively impact your credit score and make lenders reluctant to approve your application. Hence, you should consult loan agencies like Bluebricks before taking this approach.
The maximum personal loan amount an individual can borrow in Malaysia depends on several factors, such as income, credit score, and ability to repay the loan.
Generally, banks and financial institutions offer personal loans in Malaysia ranging from RM1,000 to RM250,000.
In times of emergency, personal loans provide an ideal solution thanks to their fast and convenient approval process, flexible repayment terms and low interest rates.
Moreover, personal loans have lower interest rates and more relaxed credit requirements than other loan options, such as credit cards.
Lastly, with repayment terms ranging from one to five years, borrowers can pay off the loan quickly or spread out the payments over a longer period.