FAQ
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Application Process
What documents are required?
Salaried Employee:
- Copy of IC (front and back).
- Latest 3 months’ salary slips.
- Bank statements (The last 3 months from your salary crediting account).
- Latest EPF or BE Form.
- Copy of utility bill receipts (e.g., electricity, water bills, etc.).
Self-employed Individuals:
- Same documents as above.
- SSM (Suruhanjaya Syarikat Malaysia) registration.
- Tax declaration/receipt.
Any additional documents required will be communicated accordingly.
Is it possible to apply for a loan online?
Definitely! We highly encourage it. Our online application process is secure and user-friendly, available 24/7 for your convenience. This saves you the hassle of spending time at our office. Upon pre-approval, you can easily schedule an appointment with our knowledgeable loan officer at a time that suits you best. Our efficient process allows you to get started swiftly, all while receiving tailored assistance.
Do I need to give a reason for my application?
At LSD Prestamo, responsible lending is our commitment. As part of our process, we require applicants to provide a reason for their loan application.
How can I check my loan application status?
To check your loan application status, don’t hesitate to contact our dedicated customer support team at 03-78655766 or via WhatsApp. They will be happy to assist you and provide you with the most up-to-date information regarding your application.
How do I sign my contract?
To finalize your loan agreement, we invite you to schedule an appointment to visit our office. Our experienced loan officers will gladly guide you through the review and signing process. For verification purposes, please bring your original IC. Following your signature, you’ll receive a copy of the agreement for your records, and a secure electronic copy will also be delivered to your registered email address for your reference.
Loan Eligibility
Am I eligible for a LSD Prestamo loan?
To qualify for our loan, you must be between 18 and 50, a Malaysian citizen or permanent resident, earn at least RM18,000 annually, and have no outstanding court judgments, writs, or bankruptcies.
How long can I borrow money for?
The loan terms are structured with a minimum duration of 3 months and a maximum duration extending up to 24 months (equivalent to 2 years).
How long does it take to process my loan?
As part of LSD Prestamo personal loan process, once your loan application has been processed and approved, the loan amount will be credited to your bank account within 24 hours of signing the loan contract.
Can I have more than one LSD Prestamo loan at a time?
After paying half of the first loan, you can apply for refinancing from LSD Prestamo. Approval will depend on your circumstances and repayment records.
Can I cancel my loan once approved?
Absolutely! You’re welcome to cancel your personal loan application even after it’s been approved, and there won’t be any cancellation fees.
Why am I not getting approved for a loan?
We take into consideration a number of factors when determining if you meet our lending criteria. Unfortunately, if you do not meet our lending criteria we will not be able to approve your loan.
Repayments and Fees
What happens if I repay early?
If you decide to repay your loan ahead of schedule, rest assured that we won’t impose excessive cancellation fees. We believe in supporting your financial flexibility, so there are no penalties for early repayments.
How much interest can I charge on a late payment?
If your loan payments aren’t sorted by the due date, LSD Prestamo will apply a minimum late payment fee of RM25.00 or an 8% per annum charge on the overdue amount, whichever is higher. Plus, any other relevant fees determined by LSD Prestamo may also apply.
How can I process early settlement?
To settle loans early, notify LSD Prestamo 30 days in advance via WhatsApp or email (helpdesk@lsdprestamo.com). We’ll handle the rest promptly.
What is the Establishment Fee?
The Establishment Fee covers administrative costs for helping you with credit, legal documentation, and notarization. It’s added to your approved loan amount and repaid to LSD Prestamo during scheduled repayments.
How much is the Establishment Fee?
This fee varies from RM200 to a maximum of RM900, depending on your risk range and credit score. When you receive your interest rate estimate, we’ll inform you of the exact cost. It will be added to the loan amount to avoid out-of-pocket expenses.
Repaying Your Loan
How do I make loan repayments?
Repay your LSD Prestamo loan seamlessly with multiple options. Set up scheduled payments or opt for automatic direct debits from any bank account. You can also use DuitNOW instant transfer or digital wallet for added convenience. Need assistance? Call 03-78655766 or message us on WhatsApp. Smooth repayments made easy.
What time will the repayment be direct debited?
The amount due will be debited from your bank account overnight on your chosen payment day.
How to set up a repayment date? What are the methods of repayment?
The repayment date is generally set based on 2-5 working days after your payroll date to ensure sufficient funds within this designated auto-debit bank account.
Customers may sign up for Direct Debit Authorization (DDA) to use automatic debit as the repayment method. It is an agreement that allows us to automatically debit your repayment from your bank account on the repayment day.
How do I check my loan balance and repayment schedule?
You can quickly check this information by reaching out to us directly. See our Contact Us page.
What if I am unable to pay on my scheduled repayment date?
If you miss a payment, there’s an RM35 dishonour fee, so make sure you have enough funds in your account. If you’re having trouble, just reach out to LSD Prestamo for a friendly chat about how we can help you out.
Transfer of funds
How long does it take for the funds to be transferred?
Upon approval of your loan application and signing the loan contract, funds are typically transferred within one business day directly into your designated bank account.
Can I choose the date for the funds to be transferred?
While we aim to process transfers promptly, unfortunately, we cannot accommodate specific date requests for fund transfers. However, funds are typically transferred swiftly once your loan is approved.
What if there's an issue with the fund transfer?
In the rare event of any issues with the fund transfer, be sure to get in touch with our customer support team immediately. We’ll promptly investigate and resolve any problems to ensure a smooth transfer process for you.
Credit & employment checks
Can I get a loan if I am blacklisted or even with bad credit?
At LSD Prestamo, we support individuals from diverse financial backgrounds, including those with less-than-ideal credit histories. While we assess multiple factors during the approval process, including credit history, we encourage you to apply. Our team will thoroughly evaluate your situation to determine the most suitable solution.
Will you be contacting my employer?
If necessary, LSD Prestamo may contact your employer or payroll officer to verify details such as employment status or financial situation.
Does LSD Prestamo do credit checks?
Yes, we perform credit checks on all applications. By assessing bank statements, we ensure loan repayment feasibility. At LSD Prestamo, we recognize the challenges of bad credit history and offer solutions. If you’re able to repay the loan, you can access funds by leveraging your valuables with us.
Contact information
Is LSD Prestamo a licensed money lender?
Yes, LSD Prestamo is a licensed money lender, ensuring that they operate within legal guidelines and adhere to regulations set by KEMENTERIAN PERUMAHAN DAN KERAJAAN TEMPATAN (KPKT) authorities.
What are my responsibilities?
At LSD Prestamo, we’re dedicated to your financial well-being. Our loans are tailored to fit your repayment capacity, ensuring a smooth borrowing process. We value transparent communication about your finances and encourage responsible self-assessment before applying. Remember, if you face repayment challenges, it could impact future borrowing eligibility, prioritizing your financial health. Count on us as your trusted partner in responsible financial management.
What are your contact/business hours?
At LSD Prestamo, our customer care team is here for you Monday to Friday, 9 am – 6 pm. For assistance outside these hours or during public holidays, email us at helpdesk@lsdprestamo.com. Expect a response within one business day.
How do weekends and public holidays affect the service?
LSD Prestamo follows Malaysian banking schedules, so we’re closed on weekends and public holidays, as loan payments may not be processed during these times.
What if I apply outside business hours or over the weekend?
If you’ve applied outside business hours, we’ll review your application promptly the next business day. We may contact you for verification or additional information and documentation.
Security and bank details
What happens to the online bank statements you obtain?
The read-only bank statements help our professional assessors make responsible lending decisions. The statements are securely stored as long as necessary to manage your account.
How is my information stored and protected?
Any private details entered on our website are protected by a 2048-bit Secure Sockets Layer (SSL) encryption. This ensures that all data received between you and us is encrypted, as the protection of your information is one of our fundamental concerns.
What online security measures do you employ?
Your privacy and security are of paramount importance to us. LSD Prestamo utilizes the best in online security. For more information, please view our Privacy Policy and Terms of Use pages.
Is your website secure?
LSD Prestamo’s website has a security certificate to protect your information. LSD Prestamo is certified by Let’s Encrypt. It is a non for profit service provided by Internet Security Research Group (ISRG). Millions of businesses around the world rely on Let’s Encrypt Certification to help them protect their most important information and assets.
Policies and complaints
Policies and complaints
As a responsible lender, LSD Prestamo practises transparency and honesty. Visit the LSD Prestamo Comprehensive Policies page for more information.
How can I make a complaint?
LSD Prestamo makes every effort to help a mate in need. Your concern is our concern and your satisfaction is important to us. LSD Prestamo is always finding ways to improve our service, which is why we ask for your feedback. If you have a complaint, please contact us.
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