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Important Disclosure
Last Updated: December 2024
This disclosure provides important information about NSF LOAN's lending
services, fees, and terms. Please read this document carefully before applying for any loan products.
1. Company Information
- Company Name: NSF LOAN Sdn. Bhd.
- Registration Number: [Company Registration Number]
- License Number: [Money Lending License Number]
- Registered Address: [Full Registered Address]
- Regulatory Authority: Ministry of Local Government Development
(KPKT)
2. Loan Products & Terms
2.1 Personal Loan Terms
| Membership Level |
Loan Amount |
Repayment |
Term |
| Regular Member |
RM 800 |
RM 900 |
14 days |
| Gold+ Member |
RM 1,200 |
RM 1,260 |
14 days |
2.2 Interest Rates
- Regular Members: 12.5% for 14-day term (equivalent to ~326%
APR)
- Gold+ Members: 5% for 14-day term (equivalent to ~130% APR)
⚠️ Annual Percentage Rate (APR) Warning
The APR shown is for comparison purposes only. As our loans are short-term (14
days), the actual cost is the difference between loan amount and repayment amount. Borrowing costs can
be high - borrow responsibly.
3. Fees and Charges
3.1 Late Payment Penalty
- Daily Penalty: RM 10 per day for late payments
- Maximum Penalty: 100% of original loan amount
3.2 Loan Extension
- Extension Fee: RM 100 for 7-day extension
- Maximum Extensions: Subject to approval
3.3 Other Fees
- Processing Fee: None (deducted from loan if applicable)
- Early Repayment Fee: None
- Service Tax: As per Malaysian law
4. Eligibility Criteria
To qualify for a loan, you must:
- Be at least 18 years old
- Be a Malaysian citizen or permanent resident
- Have a valid Malaysian IC
- Have an active Malaysian bank account
- Complete our KYC verification process
- Have a verifiable source of income
5. Risks to Consider
⚠️ Borrowing Risks
- Taking on debt you cannot repay may lead to financial difficulties
- Late payments incur daily penalties that increase your total debt
- Defaulting on loans may affect your credit score and future borrowing ability
- Non-payment may result in legal action and collection proceedings
6. Your Rights
- Right to receive a copy of your loan agreement
- Right to request a statement of your loan account
- Right to early repayment without additional fees
- Right to file complaints with our customer service
- Right to escalate unresolved issues to regulatory authorities
7. Referral Program Disclosure
- Referral commissions are paid when referred members successfully repay their
first loan
- Commission rates vary by membership tier
- Commissions can be withdrawn to your registered bank account
- You are responsible for any applicable taxes on referral income
8. Dispute Resolution
If you have a complaint or dispute:
- Contact our customer service via the app's live chat or email
- If unresolved within 14 days, escalate to our complaints department
- If still unresolved, you may contact the Ministry of Local Government
Development (KPKT)