Frequently Asked Questions

At YD PENANG, we offer personal loans ranging from RM5,000 to RM200,000. The exact amount you qualify for depends on your income, credit history, and financial profile. Our loan specialists will assess your application and recommend the most suitable loan amount for your needs.

For complete applications with all required documents, we typically provide approval within 24-48 hours. Once approved, funds are disbursed within 1-2 working days. We pride ourselves on our efficient processing to ensure you get the funds you need as quickly as possible.

Our personal loan interest rates range from 4.5% to 8.5% per annum, depending on your credit profile, loan amount, and repayment tenure. We offer competitive rates with complete transparency - there are no hidden fees or charges.

Yes, self-employed individuals can apply for personal loans with YD PENANG. You'll need to provide business registration documents, bank statements for the last 6 months, and income tax returns for the previous year. Our loan specialists will assess your application based on your business revenue and financial stability.

We offer various business financing solutions including working capital loans (up to RM500,000), expansion loans (up to RM2 million), equipment financing (up to RM1 million), and SME business loans (up to RM300,000). Each product is designed to address specific business needs with customized terms and repayment options.

For business loans, you'll need to provide business registration documents (Form 9, 13, 24, 49), latest 2 years audited financial statements, latest 6 months bank statements, business profile from SSM, directors' MyKad copies, and tax clearance certificate (if applicable). Our relationship managers will guide you through the specific documentation requirements based on your business type and loan purpose.

Generally, we require businesses to have been operating for at least 2 years to qualify for our standard business loans. However, we do have specialized products for newer businesses with strong growth potential. Startups may qualify with a comprehensive business plan and adequate security or guarantors.

Debt restructuring involves consolidating multiple debts into a single loan with more favorable terms, such as lower interest rates, reduced monthly payments, or extended repayment periods. This can help you manage your finances better, reduce financial stress, and create a clear path to becoming debt-free while protecting your credit score.

Yes, we can help with debt restructuring even if you have a less-than-perfect credit history. Our approach focuses on your current financial situation and ability to make restructured payments. We'll work with you to create a manageable repayment plan that can also help improve your credit score over time as you make consistent payments.

The savings from debt restructuring vary based on your current debts, but clients typically save 20-40% on their monthly payments. By consolidating high-interest credit card debts (which can be 15-18% annually) into a restructuring plan with rates around 6-9%, you can significantly reduce both your monthly payments and the total interest paid over time.

Yes, YD PENANG is fully licensed and regulated under Malaysian financial regulations. We operate with complete transparency and adhere to all legal requirements for credit lending companies in Malaysia. Our license number is displayed in our office and can be verified with the relevant authorities.

While banks often have strict eligibility criteria and lengthy approval processes, YD PENANG offers more flexible financing solutions with faster approval times. We specialize in understanding individual circumstances and provide personalized service. Our focus is on finding solutions that work for you, not just following rigid guidelines.

We believe in complete transparency. There are no hidden processing fees for our loan applications. The only charges you'll incur are the clearly stated interest on your loan and any government taxes or stamp duties as required by law. All costs will be explained to you upfront before you commit to any loan.

If you anticipate difficulty making a payment, we encourage you to contact us as soon as possible. We understand that circumstances can change and we're committed to working with our clients to find solutions. We may be able to adjust your payment schedule or offer temporary relief options. Late payments may incur charges as specified in your loan agreement.

Yes, we encourage early repayment and do not charge prepayment penalties for settling your loan ahead of schedule. Early repayment can save you money on interest charges. If you're considering early repayment, please contact our customer service team to get a settlement figure and instructions on the process.