uDai offers a great service of immediate personal loans through a simple but influential mobile application. Realizing that it is often difficult to accomplish all the plans due to lack of money and you might want some short-term relief to fulfill little and immediate requirements. With uDai technology-based system, applicants of all ages can borrow quickly without any form-filling or complications. The company is committed to providing the easiest way for a loan with a focus on better customer experience and adding value to shareholders.
uDai acknowledges the changing demands and uncertainties you are facing. Life causes problems such as medical emergencies, maintenance, transportation, and severe lack of money; hence, we design this application for such personal loans, taking into account your needs. We are always behind your back for such urgent events. Compared to the cumbersome processes and the lengthy requests of financial firms, uDai is way simpler in providing loans to you.
uDai has launched fully automated " without warranty and face signatures" cash loans on the go, from start to end, the entire process including arrival and repayment is on the clicks. You only need to install the application. The mobile phone loan "mainly completes the automatic inquiry through manual inspection".
This process runs very efficiently, the accounting time does not exceed 10 minutes. Your application would be processed within 3 working days, you have the money in hand once your application approved. But you have to apply while considering the minimum time of repayment. You may blacklisted in CTOS or Central Credit Reference Information (CCRIS) if repayment is not make as schedule. CTOS or CCRIS
CTOS is a private company, and one of Malaysia’s leading Credit Reporting Agency (CRA) under the Credit Reporting Agencies Act 2010. They too provide credit reporting and is also widely used by financial institutions to determine an applicant’s creditworthiness aside from CCRIS. Usually, financial institutions use more than one credit report to determine an applicant’s credit health and CTOS is also known to be widely used in Malaysia.
Central Credit Reference Information (CCRIS) provides credit reports and is managed by the Credit Bureau of Bank Negara Malaysia. CCRIS collects credit-related information on all borrowers of participating financial institutions in Malaysia. These include individuals, businesses (sole proprietors and partnerships), companies, professional bodies, associations, societies and Government entities. Participating financial institutions encompass all licensed commercial banks, Islamic banks, investment banks, development financial institutions and several other financial institutions such as insurance companies, payment instrument issuers, rehabilitation companies, building societies, credit leasing companies and government agencies.
Fees and Charges:
• 3 months is the minimum time to repay the loan.
• 3 years or 36 months is the maximum time to repay a personal loan through this application.
• Per year interest or Annual Percentage Rate of loan is 18%.
• Maximum Annual Percentage Rate (APR) : 18% Per Year
• Processing charges such as legal and stamp duty is 10 % per loan.
For Example:
You take a loan = RM 2000.00
And your preferred Installment Period = 6 Months
Interest Rate will be = 1.5%/ Month or 18%/ Year
A fee of Service (along with Stamp Duty & Legal fees) = RM 150
Total Interest Charges = Amount of Loan X Interest rate/month X Loan Period
RM 2000 X 1.5% Interest/month X 6 Months = RM 180
Your total Amount to payback= Loan Amount + Total Interest Fee
RM 2000 + RM 180 = RM 2180
You can find out monthly installment as Total Amount to repay/ Period of loan chosen
So, RM 2180/6 Months = RM 363
Total Loan Cost will be = Profit Rate fees + Processing Fee
Total Loan Cost will be = RM 150+180 = RM 510
(This means we will charge you RM 510 additionally on getting a RM 2000 Loan.)
uDai acknowledges the changing demands and uncertainties you are facing. Life causes problems such as medical emergencies, maintenance, transportation, and severe lack of money; hence, we design this application for such personal loans, taking into account your needs. We are always behind your back for such urgent events. Compared to the cumbersome processes and the lengthy requests of financial firms, uDai is way simpler in providing loans to you.
uDai has launched fully automated " without warranty and face signatures" cash loans on the go, from start to end, the entire process including arrival and repayment is on the clicks. You only need to install the application. The mobile phone loan "mainly completes the automatic inquiry through manual inspection".
This process runs very efficiently, the accounting time does not exceed 10 minutes. Your application would be processed within 3 working days, you have the money in hand once your application approved. But you have to apply while considering the minimum time of repayment. You may blacklisted in CTOS or Central Credit Reference Information (CCRIS) if repayment is not make as schedule. CTOS or CCRIS
CTOS is a private company, and one of Malaysia’s leading Credit Reporting Agency (CRA) under the Credit Reporting Agencies Act 2010. They too provide credit reporting and is also widely used by financial institutions to determine an applicant’s creditworthiness aside from CCRIS. Usually, financial institutions use more than one credit report to determine an applicant’s credit health and CTOS is also known to be widely used in Malaysia.
Central Credit Reference Information (CCRIS) provides credit reports and is managed by the Credit Bureau of Bank Negara Malaysia. CCRIS collects credit-related information on all borrowers of participating financial institutions in Malaysia. These include individuals, businesses (sole proprietors and partnerships), companies, professional bodies, associations, societies and Government entities. Participating financial institutions encompass all licensed commercial banks, Islamic banks, investment banks, development financial institutions and several other financial institutions such as insurance companies, payment instrument issuers, rehabilitation companies, building societies, credit leasing companies and government agencies.
Fees and Charges:
• 3 months is the minimum time to repay the loan.
• 3 years or 36 months is the maximum time to repay a personal loan through this application.
• Per year interest or Annual Percentage Rate of loan is 18%.
• Maximum Annual Percentage Rate (APR) : 18% Per Year
• Processing charges such as legal and stamp duty is 10 % per loan.
For Example:
You take a loan = RM 2000.00
And your preferred Installment Period = 6 Months
Interest Rate will be = 1.5%/ Month or 18%/ Year
A fee of Service (along with Stamp Duty & Legal fees) = RM 150
Total Interest Charges = Amount of Loan X Interest rate/month X Loan Period
RM 2000 X 1.5% Interest/month X 6 Months = RM 180
Your total Amount to payback= Loan Amount + Total Interest Fee
RM 2000 + RM 180 = RM 2180
You can find out monthly installment as Total Amount to repay/ Period of loan chosen
So, RM 2180/6 Months = RM 363
Total Loan Cost will be = Profit Rate fees + Processing Fee
Total Loan Cost will be = RM 150+180 = RM 510
(This means we will charge you RM 510 additionally on getting a RM 2000 Loan.)
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