FAQ for FlexCash
Applying For Your Loan
FlexCash is an e-money lending service, registered under Kementerian Perumahan dan Kerajaan Tempatan (“KPKT”) or the Ministry of Housing and Local Government that provides seamless experience of flexible financing to customers.
Customers are allowed to borrow loans digitally without having to visit our store physically.
Applicants must be Malaysian citizen between eighteen (18) and sixty (60) years of age who have been employing for at least three (3) months and with a minimum basic monthly salary of Ringgit Malaysia One Thousand (RM 1,000.00). Further, individuals who apply for a loan would have to undergo a credit assessment.
Application can be made via FlexCash website by following the steps below:
- Step 1: Select “Apply Now” in the Payments tab of the website.
- Step 2: Indicate the loan months and loan amount you would like to borrow, and thereafter, a quotation from us would be shown on the screen.
- Step 3: Complete and submit the required documents and forms for loan application assessment purpose.
- Step 4: The loan would be deposited into your designated bank account upon approval.
You could receive loan from us within one (1) to three (3) working days. However, the process may be longer subject to the verification process and the time to be taken by your goodself in furnishing the necessary documents.
The loan application status is available in the portal.
If you have any questions related to your loan application, you can connect with us by email at [email protected].
For applicants who are salaried employees, the required documents include the following:
- A copy of the Malaysian National Registration Identity Card (“NRIC”).
- Latest three (3) months of salary slips.
- Latest three (3) months of bank statements.
- Latest utility bill (water or electricity)
For self-employed applicants, the required documents include the following:
- A copy of NRIC (Malaysian).
- Latest registration or company profile obtained from the Suruhanjaya Syarikat Malaysia (“SSM”) or the Companies Commission of Malaysia.
- Latest six (6) months of business or company’s bank statements.
- Latest three (3) months of personal bank statements.
- Latest utility bill (water or electricity).
The amount of loan repayments is subject to the duration and amount of loan you borrow. Each of the monthly loan repayments would include the interest rate and principal of the loan.
In addition, for the first monthly loan repayment, it would also consist of a stamping fee, which is a tax collected by the Malaysian government on legal documents.
The loan amount offered by FlexCash is subject to certain eligible factors such as your existing debt commitment, credit history and salary. You can use the “Loan Calculator” in the website to find out the loan amount, borrowing period and an estimate monthly repayment.
No, applicants must be a salaried employee earning a basic salary of at least Ringgit Malaysia One Thousand (RM 1,000.00) per month; whilst, for applicants who are self-employed, they must own a business with a SSM certificate of more than six (6) months.
You are only allowed to have one (1) active personal loan at each time of loan borrowing. You are welcome to apply for another loan upon the full payment of your existing loan.
We are an approved and legal e-money lender in Malaysia governed under KPKT. All our credit application journeys and security system will be monitored closely and approved by KPKT.
Loan Offer Acceptance
We would deposit the money into your designated bank account and at the same time, a copy of the e-Moneylending Agreement ("eMLA”) would be sent to you via email. You are required to sign the eMLA within (3) working days. Once the executed eMLA has been stamped and approved by the relevant Malaysian authorities, we would forward you a copy of the said eMLA for your safe-keeping.
The loan offer is valid for thirty (30) calendar days from the date of which your loan application is approved. However, you may wish to apply for an extension of the said validity at least three (3) calendar days prior to the expiry, otherwise, you would have to re-apply for a new one.
Once the loan offer has been accepted, you are not allowed to change it. If you have questions on the repayments, please connect with us over email at [email protected].
Repayments of Loan
There are two (2) types of payment channels:
- Online banking.
- Financial Process Exchange (FPX) payment.
You are allowed to make early repayment, either in full or in part, by contacting us to process the early repayment request.
Your loan repayments may be rejected due to the insufficient balance in your bank account. Thus, kindly make sure that you have sufficient balance in your bank account for the repayments.
Interest charges for late repayment would be incurred on a daily basis. Kindly refer to your eMLA for more details on the specific late interest rate.