[Loan] How to set up auto repayment for my loan? 📲

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Check this article to have your enquiry about the loan auto repayment clarified.

Your loan dashboard is accessible in the BigPay app after login, and tapping on 'Payments' > then 'Loans'. It contains the following information:

• Is there any outstanding loan?
• How much is the total amount owed?
• How many upcoming installments are there for your loan?
• How much to pay for each installment?
• and more.
•  

Automatic repayments is a feature to ensure that you settle the instalments on time to avoid any incurring penalties.

How does it work?

Our automatic repayment will run a check 3 times on the repayment day to see if there is an instalment due/overdue, and whether there is enough balance on your account to pay.

If your account balance is equal to or more than the amount owned:

If there is enough balance to cover the entire amount due on the instalment(s), our automatic repayment will deduct the amount needed to cover all due amounts. 

If your account balance is lesser than the amount owned:

If there isn't enough balance to cover the full payment, a partial payment will be made using any balance remains in your account.

If your account balance is RM0.00 or there is no instalments due:

If your balance is RM0.00, or if there is no amount due, no automatic payments will be made.

Please note: Late interest fee will incurred if automatic repayment is unable to settle the instalment on the due date and no manual repayment is made.

If you need any assistance, kindly chat with us by tapping the circle on the top left of 'Home'> Get Help> Chat with us, and we are ready to assist you further.