Client / Category: Financial Site on Personal Loan
Brand Proposition: Prefered personal loan platform for consumers to make informed decision
- To educate consumers about Personal Loans.
- Options of where to apply Personal Loans especially micro loans other than banks.
- There are Licensed Money Lender & Licensed Pawn Brokers governed under KPKT Malaysia (Ministry of Urban Wellbeing, Housing and Local Govenrment).
- Debunk the myth and stereotype of a Licensed Money Lender which often mistaken as loan sharks.
- To generate interest in Licensed Moneylender.
What are the market insight:
- In this economy climate, banks is rigid to approve personal loans and application process takes longer period as appose to Licensed Money Lender.
- Licensed Moneylender does rarely advertise (because they need permits). Flyers, name cards and bunting on the street, mostly are not licensed moneylenders.
- Licensed Moneylenders struggles to diffrenciate with Ah Longs and they promote professionalism and integrity. Also, pay taxes.
- Licensed Moneylenders and Pawn Broker under the purvue of KPKT, means that the interest CANNOT exceed 18% per year, on the other hand we see that banks can actually have higher interest rates. (see Reference no.5).
What are the consumer insight:
- Consumers is aware of Personal loans can apply with banks and the other extreme Ah Long / Loan sharks.
- They go for bank personal loan is they are employed or have collaterals, Those who does not have it succumb to Ah Long /Loan Sharks when they need fast emergency cash.
- Consumer often overlooked Licensed Moneylender as alternative.
- Consumer do not know or not convinced of Licensed Moneylenders are legitimate, transparent and safe.
- 2 x articles (400 – 600 words) with visual support or pictures (royalty-free or cleared)
- 2 x articles means 2 parts to cover the above ‘Pointers’
- English Language
- Credit sources, if applicable
Tone & manner: Pleasant, neutral and ease to understand.
Rate: RM 300
- Money Lenders Act 1951: http://220.127.116.11/doc/laws/Moneylenders_Act_1951.pdf