TNG Digital has announced a partnership with Alliance Bank Malaysia Berhad to offer another financial product through the former’s TNG eWallet. Or more specifically, via the GOfinance section of the aforementioned ewallet, with the partnership between the two allowing users to access the latter’s CashFirst loan this way.
The Alliance Bank CashFirst loan allows users to digitally apply for loans ranging from RM5,000 to RM150,000, according to the FAQ section of th dedicated page on the TNG Digital website. Accordingly, the range of repayment period goes from one to seven years. Likewise, the interest rate ranges from 4.99% to 16.68%.
This adds on to the existing loan option, which is the CIMB e-Zi Tunai loan that allows for loans between RM100 and RM100,000. For this, the loan tenure is between a week and seven years, and interest rates ranging from 6.88% to 24%.
The Alliance Bank CashFirst loan via the TNG eWallet is only available to Malaysian citizens aged between 21 and 58, “subject to the maximum financing tenure”. You’ll also need to have completed the eKYC process via the app, as well as having relevant income documents like your payslip or EPF statement on hand. You can read more on the finer terms and conditions governing the loan by hitting the link below.
(Source: TNG Digital [1], [2])
