Moneylenders Companies in Malaysia

Most moneylenders in Malaysia are licensed and regulated by the Malaysian government. There are also a few private moneylenders in Malaysia that are not licensed by the government but operate legally.

The interest rates charged by moneylenders in Malaysia are capped at 18% per annum. However, some moneylenders may charge additional fees, such as processing fees, late payment fees, etc.

Moneylenders in Malaysia must give borrowers a copy of the "Moneylenders Act 1951" before they can sign a loan agreement. The Moneylenders Act 1951 contains important information about the rights and responsibilities of both the borrower and the lender.

It is important to note that moneylenders in Malaysia are not allowed to give loans to people under the age of 18.