23 November 2021

Update of Terms & Conditions for Personal Loan

23 November 2021

Update of Terms & Conditions for Personal Loan


Dear Valued Customers,

Please be informed that the Terms and Conditions (T&C) for CashVantage Financing-i has been updated and shall take effect from 1 January 2022 onwards.

A tabulation of the revised clauses are set out in the table below:

Clause No. Revised Clauses
General Customer (as particularised in Part B of the Alliance CashFirst Personal Loan Application Form) applies for the Facility on, and agrees to be bound by the Terms and Conditions (“Terms”) and any variation thereof or addition thereto as Alliance Bank Malaysia Berhad (“Bank”) may prescribe from time to time upon notice:
1 Customer warrants to the Bank that he (reference to the masculine gender in these Terms includes all genders) is not an undischarged bankrupt, nor are there any bankruptcy proceedings, legal suits against him, and acknowledges reliance of the Bank on this warranty regardless of any checks the Bank may itself conduct in processing the application.
5 The Bank reserves the right to vary the interest rate quoted and/or prescribed by the Bank in respect of the Facility (‘the Prescribed Rate”), monthly instalment amount(s) and/or tenure of repayment at any time and from time to time according to its policies if the Customer’s account is two (2) months or sixty (60) days overdue whichever is earlier by providing the Customer twenty one (21) days’ notice. The Bank’s right to change the Prescribed Interest Rate, monthly instalment amount(s) and/or tenure of repayment does not affect the Bank’s right to terminate the Facility at any time in the event of default.
6 The Bank reserves the right to vary the Terms and Conditions, fees and charges applicable to the Facility by providing at least twenty one (21) calendar days’ notice before the variation is effective. The notice of the variation may be given to the Customers via:
  1. SMS; and/or
  2. email; and/or
  3. announcement at the Bank’s website; and/or
  4. insertion in the statement of account ; and/or
  5. by any other means of notification which the Bank may select according to its policies.

Customers are reminded to access the Bank’s website at regular intervals to view the terms and conditions of the Facility and to ensure that they are kept up-to date with any changes or variations to these terms and conditions.
10 The Bank may review the Facility at any time or from time to time, whether or not an event of default has occurred, and shall be entitled to vary any terms and/or impose any conditions according to its policies. The Bank shall be entitled to vary the Prescribed Interest Rate, tenure or monthly instalment at any time at the Bank’s discretion and according to its policies by giving twenty one (21) days’ notice. The variation shall take effect from the date specified in the Bank’s notice and the decision of the Bank as to the variation in the above said the rates and the date from which such variation shall take effect shall be final and conclusive.
11(a) Defaults in the payment of any monies payable hereunder or any one or more of the instalments or any part thereof, or according to its policies the Customer’s account has been unsatisfactorily conducted; or fails to observe or perform any of the agreements
11(i) In the Bank’s opinion, undergoes any change or threatened change in circumstances which would adversely affect his business or financial condition or ability to perform obligations under the Facility, or any other agreement with the Bank; or
14 The Customer is advised to understand the Terms in applying for the Facility.
20(c) The Bank’s potential assignee. Information may be used, stored, transferred, compiled, matched, obtained and/or exchanged by or with the aforementioned parties (‘Users’) and kept confidential by users, save where disclosure is required under any laws or regulations applicable to them.
21(e) Central Credit Reference Information System, credit bureaus credit reporting agencies govern under Credit Reporting Agencies Act 2010;
22 The Customer hereby consents and authorises the Bank through the said Declaration to verify with any party including but not limited to the Central Credit Unit of Bank Negara, CCRIS, any agency established by the Association of Banks Malaysia (ABM), any information concerning or relating to the Customer whether financial or otherwise, the Customer’s account(s) and/or the conduct thereof for the purpose of this application without any notice of the same to the Customer.
25 Any provision of these Terms which is prohibited or unenforceable by law shall be ineffective to the extent only of such prohibition or unenforceability without invalidating or affecting the remaining Terms or the validity or enforceability of any remaining Terms.
30 The Facility is granted subject to Malaysian Law, Time wherever stipulated for Customer’s performance of these Terms and his obligations shall be of the essence. The Bank shall have the right to assign any of its rights and liabilities under the Facility.
31 Subject to proper verification, the Bank may rely and act upon any verbal or written instructions received from the Customer through any mode acceptable to the Bank according to its policies including but not limited to, by telephone, online or facsimile. The Bank shall not be held liable to the Customer in any way for acting in good faith upon such instructions although it is subsequently shown that the same was not given by the Customer or for any misunderstanding or any error, loss, delay, loss or damages suffered as a consequence of the Bank acting on or acceding to any such instruction or request.

Customers are reminded to access the Bank’s website at regular intervals to view the T&C of the Facility and to ensure that they are kept up-to date with any changes or variations to these T&C.

For further clarification, please contact our Customer Service at 03-5516 9988.

Thank you.