PETALING JAYA: AmBank recently launched the country’s first online debt consolidation capability, comprising two services, on AmOnline, its consumer digital banking platform.
AmBank (M) Bhd Retail Banking Managing Director Aaron Loo said AmOnline is constantly designing experiences that meet the financial goals of its clients at different stages of life.
“AmMoneyLine / -i online debt consolidation comes at a great time when the going gets tough. Customers can consolidate their loans and reduce their cash flow either with reduced interest rates or by extending their repayment period, ”he said.
AmBank Group Chief Operating Officer Datuk Iswaraan Suppiah said that AmOnline provides a simple online experience for both personal loans and debt consolidation for our clients.
“By understanding the financing needs of Malaysian customers, we detected that they were not being adequately addressed,” he added.
The first service called AmMoneyLine / -i Debt Consolidation Plan helps clients better manage their debt.
“Whether the goal is to consolidate card and non-card debt on expensive cards into a single attractive rate or to restructure the debt over a longer period to manage their monthly outflow load, AmMoneyLine / -i has a scheduling feature to help customers establish various repayment terms and better understand their repayments. The product is easily accessible online with a quick approval time, ”the group said in a statement today.
The second service, AmMoneyLine / -i Cash Out Plan, offers simple and hassle-free personal loan application.
According to the statement, AmMoneyLine / -i loan applications are processed within three working days, subject to submission of complete documents. The approved loan amount can be accessed directly in AmOnline.