THE Association of Banks in Malaysia (ABM) would like to refute the claims made in a local newspaper about the high (60%) rejection rate for car loans.
Based on feedback from the eight commercial banks that offer hire purchase financing, it has been observed that approval rates for loans to purchase cars in 2016 stood at about 68% of the total number of applications received.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
