It looks like the leaked information we received is true after all. U Mobile has just unveiled U MicroCredit, an instalment plan that lets you own a smartphone from as low as RM98 – with no credit card required.
To qualify for U MicroCredit, all you need to do is fulfil the requirements: be a Malaysian citizen aged 18 years and above with a minimum monthly income of RM1,000 (proof of income required). U Mobile will take 2 hours for your approval and once done, you can pick from four different repayment periods – 12 months, 24 months, 30 months or 33 months. Do note that while a guarantor is not required to apply for U MicroCredit, you will need two contactable referees in the application form.
What about the charges? Sadly though, U Mobile did not provide any details on the interest rates. According to the telco, the final interest rate that you will be entitled to will be up to Berjaya Credit’s final credit assessment decision, and will be indicated when you receive your letter of offer. There will also be additional fees to pay (Surcharge Flexipay & Personalised (SF) Service amount) of RM60 for financed amount of RM1,500, and RM90 for RM1,500 and above.
Interested? You can apply for U MicroCredit at any U Mobile store, as well as online applications. Just fill in the U MicroCredit and submit it to the telco, while online applications will receive a conformation email with a link to book an appointment, while those who visit a store will receive an approval email or SMS.
For those of you who are still waiting to see what U Mobile has got to offer for its iPhone 6 and iPhone 6 Plus launch, I guess you’ll have to wait a little longer. The launch will be happening later this morning and we’ll definitely keep you updated as and when we receive more information. U Mobile’s iPhone 6 and iPhone 6 Plus plans can be purchased using U MicroCredit.