AFFINBANK SMEmerge Start Up Financing

  • Interest Rate
    14.96% p.a. ~ 14.96% p.a.
  • Max. Loan Amount
    RM 300,000

Calculate your loan repayment instantly

RM
year(s)
RM
You Pay
RM 89 /mth
Interest Rate
Total Interest Payable
RM 70
Total Repayment
RM 1,070

Key Features

Term Loan facility to finance for working capital for startup companies

Term Loan facility to finance for working capital for startup companies

Collateral Free Loan, No processing fees

Collateral Free Loan, No processing fees

More details

  • icon Features Features

    Min. Loan Amount
    RM 100,000
    Max. Loan Amount
    RM 300,000

    Other features

    Min. Financing Tenure
    3 years
    Max. Financing Tenure
    7 years

  • icon Eligibility/Documents Eligibility/Documents

    Employment Eligibility
    Business operations within 6 to 24 months
    Age Requirement
    18-50 years old
    Min. Monthly Salary
    RM 0

  • icon Fees and charges Fees and charges

    Processing Fees
    Free

If you're not sure which loan is right for you, we can help!

How do you apply for a personal loan online?

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Step 1

Use our personal loan calculator to find the best personal loan based on your requirements and eligibility.

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Step 2

Select the best product that fits your requirements from the list of recommended personal loan products listed and click on the Apply button.

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Step 3

Fill in a form with your details to be submitted for application, and a representative from iMoney or the bank will call you to process the application.

Review by iMoney

The AFFINBANK SMEmerge Start-Up Financing is a loan for small to medium sized businesses with a maximum financing amount of RM 300,000. The interest rates offered are tiered according to the loan amount, with lower rate for higher loan amount.

Best for: iMoney recommends AFFINBANK SMEmerge Start-Up Financing loans as initial working capital for startups of up to RM 300,000 with tenure between 3 years to 7 years.

Pros: No collateral needed and high loan amount of RM 300,000.

AFFINBANK SMEmerge Start-Up Financing FAQ

AFFINBANK SMEmerge Start-Up Financing offers a much more attractive rate for those who wish to borrow funds for their start-ups between RM 100,000 to RM300,000.

  • The maximum you can borrow is up to RM 300,000.

  • Loan tenure means how long you will be expected to repay your loan. The maximum loan tenure for AFFINBANK SMEmerge Start-Up Financing is 7 years. Why does this matter? The longer your financing tenure is, the lower your monthly repayment will be. But it also means higher profit charges.

    • For Sole Proprietorship, Partnership, or Private Limited Companies only
    • Business classification as SME based on SME definition as per National SME Development Council (NSDC)
    • 100% Malaysian owned & controlled business entities registered under SSM and exception shall be given to Singaporean ONLY with Malaysian shareholding of at least 51% (Non NRCC)
    • Takaful coverage or Insurance coverage is highly recommended

  • The AFFINBANK SMEmerge Start-Up Financing can take up to 2 working days to process and approve your financing upon receiving all your information and documents.

    To reduce your chances of rejection, we recommend applying for the loan through iMoney, as our call centre consultant will call you and run through an eligibility checker with you to ensure you fulfil all the criteria for the loan.

  • Stamp duties: It is as per Stamp Act 1949 (revised 1989) and will be borne by the customer.

    Legal fees:

    • Legal fee on solicitor in order of completion of Security Documentation prior release of Term Loan facility.
    • Legal fee on solicitors will be borne by the customer.

    In-House Documentation charges: No processing fees and no disbursement fees.

    Tax: Subject to all taxes and levies now or hereafter imposed by law.

    Other Fees and Charges: All other costs and expenses i.e. legal fees and other charges incurred in the preparation of all documentation, perfection of the Bank’s security documents and disbursement.

  • Late payment penalty: 1% per annum on the amount in arrears.

    Default rate: In the event of default on the facility, the Bank will be entitled to charge the interest rate at BLR + 10% p.a or such other rate as the Bank may prescribe from time to time on the entire outstanding in the facility and account, unless specified otherwise this condition shall apply.

    Early settlement:

    • The early settlement of the facility maturity date is allowed provided that you have given the Bank three (3) months written notice, else 3 months’ interest in lieu.
    • Prepayments other than monthly instalment must be in multiple RM1,000.00.

  • The Maybank Personal Loan is a fixed rate personal loan with fixed instalment payment throughout the loan tenure. The interest rate goes up to 15.56% per annum, or per year throughout the loan tenure.

  • Your monthly repayment will remain the same throughout the loan tenure, and it comprises the principal amount and interest.

    Use the personal loan calculator above to calculate your monthly repayment.

  • Once you have completed your application with iMoney, you are required to provide the following documents for your application:

    • NRIC of Directors / Shareholders / Proprietors / Partners / guarantors (passport if foreigners)
    • Business Registration document
    • Trading license (for businesses operating in Sabah & Sarawak)
    • Latest 6 months bank statement (optional but these documents would increase your chances of approval)

  • Similarly, with most financial institutions, AFFINBANK will check your credit record before they approve your application. If you are blacklisted, have a bad CCRIS record or have a weak credit score, chances are your application will be rejected.

    iMoney recommends that you settle all your overdue payments before applying and keep a healthy credit record before you apply for personal financing. It is advised that you continue repaying your loans on time for another three months before reapplying.

    Check your iMoney CreditScore for free to find out how your credit health is.

  • Maybank SME Digital Financing

    The Maybank SME Digital Financing is a loan for small to medium sized businesses with financing amounts as low as RM 10,000, and maximum amount of RM 250,000. The interest rates offered are tiered according to the loan amount, with lower rate for higher loan amount. Maybank SME Digital Financing also offers a lower rate for higher loan amounts, with tenure between 1 year to 5 years.