AEON Bank

AEON Bank (M) Berhad is Malaysia's first Islamic digital bank, licensed and regulated by Bank Negara Malaysia and the Ministry of Finance. It is a joint venture between AEON Financial Service Co. Ltd. (Japan) and AEON Credit Service (M) Berhad. Read more Show less

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Compare Personal Loans by AEON Bank

About the loan

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Loan Features

  • - Interest rates: As low as 6.88% p.a.
  • - Financing tenures: 3 months - 48 months
  • - Financing amount: RM1,000 - RM50,000

Benefits

  • - Interest rates as low as 6.88% flat p.a.
  • - Flexible financing amount of up to RM 50,000
  • - No guarantor or collateral required
  • - Shariah-compliant financing
  • - Easy online application and fast disbursement

Eligibility

  • - Malaysians only
  • - Minimum Age: 18 years old
  • - Maximum Age: 55 years old
  • - Minimum Income: RM2,500 monthly

Fees and Charges

  • - Early Settlement Fees: None
  • - Processing Fees/ Wakalah Fees: RM1 (will be deducted from the approved financing amount at the time of disbursement)
  • - Late Payment Fees: 1% p.a. on the overdue amount

What Shariah principle does AEON Bank Personal Financing-i adhere to?

This financing is based on Shariah principles through a Murabahah contract via a Tawarruq Arrangement. This means it involves the sale and purchase of Shariah-compliant commodities. The cost and profit margin are agreed upon upfront, and it does not use interest rates (riba), which are prohibited in Shariah. Instead, the bank buys a commodity and sells it to the customer at a disclosed profit, with the customer making agreed-upon deferred payments.

What do I do once my AEON Bank Personal Financing-i is approved?

You will receive a push message via the AEON Bank app after your application has been approved. Within seven calendar days, kindly press "Accept" on your app in response. Additionally, make sure your mobile device has push notifications turned on in order for you to get the notification.

Are there any fees that will be deducted from my approved financing amount?

Yes, at the time of payout, a Wakalah Fee of RM1 will be deducted from your approved financing amount. After that, your AEON Bank Savings Account-i will be credited with the remaining amount.

For instance, RM4,999 would be deposited into your AEON Bank Savings Account-i if your approved Personal Financing-i amount is RM5,000, after the RM1 Wakalah Fee has been deducted.

Is it compulsory to open an AEON Bank Savings Account-i?

Yes, you will need to open a Savings Account-i with AEON Bank before applying for the Personal Financing-i. This account will be used for disbursing your funds and setting up an auto-debit for monthly repayments.

How long does the application process takes?

Once you submit your application for AEON Bank Personal Financing-i with the required documents, the Bank will begin processing it right away, and you can expect to get news of your application within 2 days. Don't miss out on your application status and track it via the AEON Bank app, or make sure to enable push notifications.

If my AEON Bank Personal Financing-i application is rejected, can I reapply?

You can reapply for a new application after 30 days.

When is the instalment due of my AEON Bank Personal Financing-i?

Your first instalment is due one month after the disbursement date. For instance, if the funds were disbursed on 5th March 2025, your first instalment will due on 5th April 2025, and so on.

Is advance payment or early settlement allowed?

No advance payment can be made for your AEON Bank Personal Financing-i. However, you can make an early full settlement of your financing account through the AEON Bank app, which is subject to T&C.