Applying for a loan is fast and easy. No EPF, no payslip, no bank statements – only MyKad is required. Here’s what that process looks like from start to finish:
- Fill out a short application form on our website or mobile app.
- Once your loan is approved, you will get an SMS from Tambadana. Then we will call you to verify the details.
- After the loan is approved, you need to log in to your account on our website or mobile app and sign the contract.
- Get your money. After signing the contract, your cash loan will be sent by our partners to your bank account within 24 hours.
Loan terms
The first loan amount varies from RM 500 to RM 3,000 with a repayment period of 1 to 2 months depending on your application results. After you pay off your first loan, you can get new loans with higher amounts, going all the way up to RM 10,000, and longer periods from 3 to 6 months, which you can pay in monthly installments.
- Interest Rate / APR: As low as 18% p.a., depending on loan amount and period
- Processing Fee: 15% of your loan amount
- Stamp Duty: 5% of your loan amount
- Platform Fee: Ranging from 5% to 8% of the loan amount, depending on the loan tenure
- Early Termination Fee: None
- Late Penalty Fee: 8% from the current outstanding amount, and per annum.
Loan Calculation Example:
Ms. Siti applied for a quick online loan from Tambadana. She borrowed RM 5,000 for a period of 3 months (90 days). The total interest accrued on the loan is calculated as follows:
- Interest: RM 5,000 x 90 x 0.05% = RM 225
- Total Repayment Amount: RM 5,000 + RM 225 = RM 5,225
- Monthly Payment: RM 5,225 / 3 = RM 1,741.67
Please note, this is just an example. The exact details will be provided in your loan agreement upon approval.