Back to homepage

 

Terms and Conditions

 

 

IMPORTANT - PLEASE READ THESE TERMS AND CONDITIONS CAREFULLY. BY ACCESSING THIS WEBSITE AND/OR USING THE ONLINE SERVICES, YOU AGREE TO BE BOUND BY THE FOLLOWING TERMS AND CONDITIONS. IF YOU DO NOT ACCEPT ANY OF THESE TERMS OR CONDITIONS, YOU MUST IMMEDIATELY DISCONTINUE YOUR ACCESS OF THIS WEBSITE AND/OR WITHDRAW FROM THE ONLINE APPLICATION.

Disclaimer  
You understand and agree that your use of the Website is at your own risks and we shall not be responsible or liable to you for any expenses, losses, costs damages, liabilities or other consequences of whatsoever nature (collectively “Losses”) suffered or incurred directly or indirectly by you, including without limitation, any Losses suffered or incurred directly or indirectly by you arising from or in connection with or caused by:

1.  Loan Application & in-principal-approval of loan   
Any loan apply through phone or our website is consider Loan In-Principal-Approval. In-principal-approval does not constitute a guaranteed approval of your loan. Ipinjam reserve the right to adjust the loan amount applied for or reject the loan at our sole discretion.

2.  When you apply for a loan or using our online services you confirm that all the information you have provided is true and complete.    If false or inaccurate information is provided and fraud is identified, details will be passed to fraud prevention authorities.

3.  Personal information you provide to us through online services / applying a loan facility.

i). You authorize   us to do a relevant Credit Check or 3rd party check & provide necessary information to third parties who provide services to Ipinjam in connection with the provision of the services which you have sought from Ipinjam. So please provide your genuine and detail information to us including the real physical address (P.O box address is not acceptable) 

ii). We may be required from time to time to disclose your personal information to Governmental or judicial bodies or agencies or our regulators, which we will only be exercised under proper authority.

4. Overdue & outstanding loan    
Ipinjam  reserves the right to engage an external debt collector and/or any reasonable legal resources to recover any money owing by you.
Repeated defaulted and/or late payment/s will be reflected in Credit Bureau(CB) records. This information may be supplied to other organizations by CBs and fraud protection agencies to perform similar checks and to trace your whereabouts and recover debts that you owe. Records remain on file for seven years after they are closed, whether settled by you or defaulted. Finally, your credit rating will be hit hard and you probably would not be able to borrow from any agencies/institutions again.

None of these things are worth risking, so if you have doubts about whether you’ll be able to comfortably repay a loan, please refrain from applying.

5. Collection of Personal Information
Your visit to this site may be recorded for analysis on the number of visitors to the site and general usage patterns. Your personal information  collected from this site may be used for marketing promotion.

If you do wish to receive email or promotional sms, you will always have an opportunity to opt-out.


 

6. Fees and Interest Rate

  1. There is no administration fee charged for processing your loan application.
  2. Default Annual Percentage Rate(APR) would be 1% per month collateral , 1.5% per month without collateral  ,or 12% per year collateral , 18% per year without collateral
  3. An Acceptance fee will be charged upon approval of loan based on the loan amount.
  4. Late Payment Interest shall be at the rate of 1.5% per month plus the interest rate applicable to your loan.
  5. If you tender a cheque as payment, which is dishonoured. A handling fee of RM100 will be charged for return/dishonoured cheque.
  6. For Default payment, all legal fees and miscellaneous charges incurred to recover the loan amount of the loan contract will be fully borne by the Borrower &/ or the Surety(ies).
  7. Other fees may be applicable for additional services provided by us, and may be change from time to time without prior notice.

Ipinjam reserves the right at its sole discretion to approve or reject any application and/or the supporting documents as requested by Ipinjam. For the avoidance of doubt, Ipinjam reserves the right at its absolute discretion to determine if the supporting documents are sufficiently clear for purposes of the approval.

7. Governing Law

These Terms and Conditions are governed by and construed in accordance with the laws of the Malaysia. By accessing this website and/or using the online services, you agree that such access and/or use, as well as these Terms and Conditions of Access shall be governed by, and construed in accordance with, the laws of Malaysia and you agree to submit to the non-exclusive jurisdiction of the Malaysia courts.

8. Changes 

Ipinjam reserves the right, at its sole discretion, to change, modify, add or remove any part (terms & conditions ) of this site in whole or in part, at any time.