AmBank introduces online debt management features


AMBANK Group recently launched “AmMoneyLine/-i” — an online debt consolidation capability — on AmOnline, its consumer digital banking platform.

The consolidation plan is the first online banking solution that offers customers to manage their debt systematically. Customers are given options of collating expensive card and non-card debt into a single or restructure debt over a longer period to manage their monthly outflow.

“The AmMoneyLine/-i online debt consolidation comes at an appropriate time when things are getting tougher. Clients can consolidate their loans and reduce their cashflow burden either with reduced interest rates or by st retching their repayment period,” said MD for retail banking Aaron Loo.

The plan is fitted with features to help customers construct various payback tenures to effortlessly manage their loan repayments. The product is easily accessible online with a quick approval turnaround time.

AmMoneyLine/-i Cash Out Plan on the other hand, offers a simple and hassle-free personal loan application. AmMoneyLine/-i loan applications are processed within three working days and subject to complete documentation submissions. The approved loan amount is accessible right within AmOnline.

“We are constantly improving and enhancing our Quick Apply feature on AmOnline.

“We design experiences that meet the financial objectives of our customers across different life stages,” Loo added.

“AmOnline offers an easy online experience for both personal lending, and debt consolidation to our customers. In understanding the financing needs of Malaysian customers, we detected the latter was not being addressed adequately,” said COO Datuk Iswaraan Suppiah in the same statement.