Basic Loans and Requirements

1
Your Basic Guide to Loans

• By Compare Hero

2
Everyone needs money
3
you are lying if you say otherwise! 
4
Loans come in many different types depending on
the purpose. House, Car, Education, Business
Development and Personal Loans are some of the
more commonly known loans.
5
Here are Most of Them
6
Personal Loan

• This is the loan that you take out to meet your
  personal expenses that may include house
  renovations, education expenses, and so on.  It
  is immediate cash and you can do anything with
  it.  Personal loans may be secured or unsecured.

7
Car Loan

• This is the loan that you borrow to buy a car for
  you and your family. When you buy a car using a
  loan you become the renter and the bank becomes
  the owner until you repay the loan- even though
  the possession of the vehicle remains with you.
  The loan usually requires a down payment that
  determined by your credit history.

8
When Requesting For A Loan, There Are Requirements

• This is the loan that you borrow to buy a car for
  you and your family. When you buy a car using a
  loan you become the renter and the bank becomes
  the owner until you repay the loan- even though
  the possession of the vehicle remains with you.
  The loan usually requires a down payment that
  determined by your credit history.

9
Here Are The Most Basic Ones
10
You should be above 21 years old to obtain the
loan

• This ones no brainer

11
Copy of your National Registration Identity Card
(NRIC)

• So that theyll know its really you

12
If you have a salary Provide the salary
statement showing salary credit into your
account, form BE/EPF statement or copy of an
appointment letter from your employer

• So that theyll know that you have the ability to
  pay

13
If you are self-employed Copy of latest Form B
or CPO2 attached/ EPF statement/Copy of your
audited financial statement and Profit and Loss
account.

• So that theyll know that you are capable

14
Source

• http//www.comparehero.my
• http//www.comparehero.my/blog/your-basic-guide-to
  -loans