Loan Agreement

Updated at 05 January 2024

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Loan Terms:

1. Loan Amount: To be determined upon manual application
2. Loan Period: To be determined upon manual application
3. Annual Percentage Rate (APR): :18%
4. Processing Fee: 10% of Loan Amount
5. Monthly Installment: To be determined based on the loan amount and period

Loan Disbursement and Repayment Schedule

The loan disbursed date (start date) shall be determined upon admin approval and communicated to the borrower. Repayments shall commence on the 1st day of each month, starting from the loan disbursed date, for the duration of the loan period.

Total Loan Cost

The total cost of the loan, including interest and processing fees, will be communicated to the borrower upon approval of the loan application.

Late Payments

In the event of late payments, the borrower agrees to pay a late fee as per the terms specified in the agreement for each day the payment is overdue.

Security

Implementing an IT freeze on a borrower's account involves temporarily restricting access to their financial data and transactional activities. This security measure is typically employed in response to a potential security threat or suspicious activity detected within the IT infrastructure.

Governing Law

This Agreement shall be governed by and construed in accordance with the laws of Malaysia.

Miscellaneous:

• This Agreement constitutes the entire understanding between the parties and supersedes all prior agreements or understandings.
• Any modifications to this Agreement must be made in writing and signed by both parties.