Skyro launches Malaysian cash loans with RM1,000 initial limit
The financing carries fixed monthly interest of 1.5 per cent and a four-month repayment term, the company said.
Skyro has introduced its first Malaysian credit product, allowing eligible consumers to borrow up to RM1,000 initially, subject to approval. The digital finance group said the short-term cash financing is intended to meet everyday financial needs.
According to the company, borrowers currently pay interest at a fixed monthly rate of 1.5 per cent, with repayment spread across a four-month term. Applications are made through its app, and eligibility requires Malaysian citizenship, a valid MyKad and regular income.
Applicants must verify their identity and provide documents supporting their income. Skyro said checks, approval and the transfer of funds take place digitally, so customers do not have to attend a branch.
The company considers each applicant’s income, outstanding financial obligations and credit record. It said most applicants learn the outcome within minutes.
Skyro plans to lift borrowing limits gradually as customer relationships develop, aiming eventually to offer as much as RM10,000. Arsen Liametov, co-founder and co-chief executive officer, said the initial product would help it learn about Malaysian consumers’ credit needs before introducing more flexible financing options.
