Terms & Conditions
Last Updated: January 2025
1. Acceptance of Terms
By accessing and using the services of Mudah Credit Resources Sdn. Bhd. ("Mudah Credit", "we", "us", or "our"), you agree to be bound by these Terms and Conditions. If you do not agree to these terms, please do not use our services or website.
2. Loan Eligibility
To be eligible for a loan, you must: • Be a Malaysian citizen or permanent resident • Be at least 21 years old and not more than 65 years old • Have a minimum monthly income of RM2,000 (employed) or RM3,000 (self-employed) • Provide accurate and complete information in your application • Have a satisfactory credit history • Not be a bankrupt or under any legal proceedings Meeting these criteria does not guarantee loan approval. We reserve the right to approve or reject any application at our sole discretion.
3. Loan Application Process
When you submit a loan application: • You authorize us to verify your information and conduct credit checks • You consent to us contacting your employer, bank, or references • You agree that all information provided is accurate and complete • You understand that providing false information may result in rejection or legal action • You acknowledge that application submission does not guarantee approval We aim to process applications within 2 hours during business hours, but processing times may vary.
4. Loan Terms
Upon loan approval: • Interest rates start from 4.88% per annum (subject to credit assessment) • Loan amounts range from RM1,000 to RM500,000 • Loan terms range from 12 to 108 months • Monthly installments include principal and interest • Processing fees, stamp duty, and other charges apply • Early settlement fees may apply (typically 1-3% of outstanding principal) Specific terms will be detailed in your loan agreement document.
5. Disbursement
Upon loan approval and signing of loan agreement: • Funds will be disbursed to your designated bank account within 24-48 hours • You must have a valid Malaysian bank account • Disbursement may be delayed due to bank processing times, public holidays, or technical issues • You authorize us to deduct applicable fees from the disbursed amount
6. Repayment Obligations
You agree to: • Make monthly installment payments on or before the due date • Maintain sufficient funds in your bank account for auto-debit (if applicable) • Notify us immediately of any changes to your contact information or financial situation • Pay late payment charges if installments are overdue • Be responsible for all collection costs if loan becomes delinquent Failure to repay may result in legal action and reporting to credit bureaus.
7. Late Payment and Default
If you fail to make payments: • Late payment charges of 1% per month on overdue amount will apply • Your credit score will be negatively affected • We may report delinquency to credit reference agencies (CTOS, CCRIS) • We reserve the right to engage debt collection agencies • We may take legal action to recover outstanding amounts • Additional legal and collection costs will be added to your debt
8. Early Settlement
You may settle your loan early at any time by: • Contacting us to request an early settlement quotation • Paying the outstanding principal plus applicable early settlement fee (1-3%) • Obtaining written confirmation from us that the loan is fully settled Early settlement will save you interest on future installments.
9. Personal Data and Privacy
By using our services, you: • Consent to our collection, use, and disclosure of your personal data as per our Privacy Policy • Authorize us to conduct credit checks and share information with credit bureaus • Agree to receive communications from us regarding your loan and our services • Acknowledge that we comply with the Personal Data Protection Act 2010 (PDPA) For details, please refer to our Privacy Policy.
10. Use of Website
When using our website, you agree to: • Not use the website for any unlawful purpose • Not attempt to gain unauthorized access to our systems • Not transmit viruses, malware, or harmful code • Not copy, reproduce, or distribute our content without permission • Accept that website content is for informational purposes only We reserve the right to suspend or terminate your access at any time without notice.
11. Limitation of Liability
To the fullest extent permitted by law: • We are not liable for any indirect, incidental, or consequential damages • We do not guarantee uninterrupted or error-free website access • We are not responsible for third-party websites or services • Our total liability shall not exceed the amount of fees you paid to us This does not affect your statutory rights under Malaysian law.
12. Amendments
We reserve the right to modify these Terms and Conditions at any time. Changes will be posted on our website with an updated date. Your continued use of our services after changes constitutes acceptance of the modified terms. We recommend reviewing these terms periodically.
13. Governing Law
These Terms and Conditions are governed by the laws of Malaysia. Any disputes arising from these terms or our services shall be subject to the exclusive jurisdiction of the Malaysian courts.
14. Contact Information
For questions about these Terms and Conditions, please contact us: Mudah Credit Resources Sdn. Bhd. Email: info@mudahcredit.com Phone: +60 3-XXXX XXXX Address: Kuala Lumpur, Federal Territory, Malaysia Business Hours: Monday-Friday, 9:00 AM - 6:00 PM Saturday: 9:00 AM - 1:00 PM