Maybank today launched its new Maybank Personal Digital Financing on Maybank2u web and MAE app, offering a fast, hassle-free, and fully digital experience from point of application to disbursement for customers requiring a quick injection of cash.
Leveraging the Bank’s comprehensive credit risk metrics and modelling capabilities, the new solution has a decisioning engine that can perform pre-qualification checks and assess each application in real-time, in order to provide instantaneous approval and subsequently disbursement within 10 seconds, making this the first of its kind in the market.
All existing and new customers between 21 and 60 years old can apply for Maybank Personal Digital Financing. Maybank customers can easily apply for up to RM100,000 or four (4) times their monthly salaries (whichever is lower) with no income documents required and receive funds within 10 seconds of approval, subject to the customer having a salaried account with the Bank, a minimum annual gross income of RM42,000 and meeting the Bank’s other eligibility criteria such as having a healthy credit profile and score. Customers can also manage their financial commitments better through a longer repayment tenure of up to six (6) years.
Group CEO of Maybank’s Community Financial Services, Dato’ John Chongsaid that this digitised end-to-end solution provides quick and easy financing to customers, especially in their time of need, by eliminating laborious physical submissions. “From our experience, we know that customers value speed and convenience when it comes to personal financing, as the funds could be intended for urgent use such as medical emergencies. In addition to fast disbursement, Maybank Personal Digital Financing does not require collateral or a guarantor, making it ideal for customers who need cash in hand immediately.”
