IVC Personal Loan
Unsecured financing of up to RM100,000, with tenures of up to 5 years.
Calculate your monthly repayment
Fees and Charges
Eligibility
- Individuals residing in Klang Valley only
- Salaried employee
- Self-employed
- A copy of your IC (both sides)
- Latest 3 months salary slip
- Latest 3 months bank statement (with salary being credited)
- Latest B/BE Form with official tax receipt
- Latest EPF statement
- Original utility bill receipts such as electricity, water bills, etc.
- A copy of your IC (both sides)
- Latest 3 months bank statements
- Original utility bill receipts such as electricity, water bills, etc.
- Latest 6 months EPF statement
Loan Repayment Table
| Financing Amount | Financing Tenure | Min. Income | Interest Rate |
|---|---|---|---|
| RM 5,000 - RM 100,000 | 12 - 60 months | min. RM 36,000 | 13.00% p.a. - 18.00% p.a. |
Product Review by CompareHero
What is the IVC Personal Loan?
IVC Personal Loan comes from a licensed moneylender, not a bank.
IVC Personal Loan is offered by Icon Venture Capital Sdn Bhd, a company licensed under the Moneylenders Act 1951. It's aimed at borrowers who may have trouble getting a loan from a bank.
How much can be borrowed?
The loan amount and rate depend on whether collateral is provided.
Loan amounts range from RM5,000 to RM100,000, subject to approval. Interest is charged at 13% to 18% per annum (1.5% a month), depending on whether the loan is secured or unsecured and the borrower's credit profile. For larger loan amounts, property or land may need to be pledged as collateral.
How long does approval take?
Approval and disbursement follow a set process once documents are submitted.
Applications are processed within 5 to 7 working days, once all required documents have been submitted. Once a Letter of Offer is issued, the approved amount can be paid out by bank transfer or cheque.
How are monthly instalments repaid?
Repayment starts a month after disbursement and continues on a fixed schedule.
Payments can be made through internet banking with any licensed bank in Malaysia, cash deposit machines, or cheque. The first monthly payment is due 30 days after the loan is fully disbursed, and continues every month until the end of the tenure.
Late payments may attract a penalty fee, limited to covering actual loss incurred, as set out under the Moneylenders Act 1951. If a borrower defaults, Icon Venture sends a Letter of Demand.
What fees apply?
Besides interest, there's a legal fee to account for.
A legal fee applies and is set out in the loan agreement. Borrowers who want to settle the loan early need to give 3 months' notice.
Who is eligible to apply?
Eligibility depends on age, income, and where the applicant lives.
- Aged 18 to 60
- Malaysian citizen
- Living in Klang Valley only
- Salaried employee or self-employed
- Minimum annual income of RM36,000
What documents are required?
A standard set of documents needs to go in with the application.
- Application form
- Copy of IC (both sides)
- Latest 3 months' salary slips or pay slips
- Latest 3 months' bank statements
- Latest EPF statement or Tax Declaration Form (BE Form)
- Utility bill (electricity, water, etc.)
- Proof of address, such as a home or internet bill, bank letter, or tenancy agreement