Reckless loans can wreck borrowers

By JAGDEV SINGH SIDHU

BANK Negara Malaysia’s (BNM) announcement of plans to require individuals seeking personal loans exceeding RM100,000 to complete an educational module certainly created a buzz.

This threshold aligns with the limit on declaring bankruptcy due to unpaid debts, particularly unsecured loans like personal loans.

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Monthly Plan

RM 13.90/month

RM 9.73/month

Billed as RM 9.73 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 8.63/month

Billed as RM 103.60 for the 1st year, RM 148 thereafter.

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BankNegara , PersonalLoans , FinancialLiteracy , YouthBankruptcy , HouseholdDebt , ResponsibleLending , DebtManagement , MalaysiaEconomy

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