Car Loans Of Maybank Commerce Essay

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The other function which provided by the Maybank is loans. The bank loans are loans that an individual or company gets from a bank. It is an excellent source of finance for short-term and long-term credit needs. Borrowers typically qualify for bank loans on the basis of their creditworthiness. A higher credit rating is demonstrative of a borrower's sound financial standing, which enables lock-in at a lower interest rate. The scope and coverage of bank loan vary from lender to lender. Most lenders have strict terms governing the loan proceeds. Depending on need, borrowers can consider the following dedicated loans which are involve mortgage, car loans, personal loans, etc.

What is Maybank Car Loan? Maybank Car Loan is also called as hire purchase which is financing for reconditioned vehicles, secondhand vehicles and new vehicles. The average payment duration on a car loan is usually five years. Most car loans are unsecured, since the vehicle itself is put up as collateral and may be repossessed should the borrower fail to meet loan payments. Where else, Maybank has up to 90% of the margin of finance and up to 9 years for the loan period.

There are some benefits of the Maybank Car loan compared to Car loans from the other banks. Maybank Personal Loan offers an easy payment of your installment via ATMs, Maybank branches, Maybank e-Kawanku and online via Maybank2u.com. Besides, it has fast processing and approval for those applied the loans. It is also an attractive and competitive term charges. The other benefits of apply the Maybank loans include the renewal of road tax and motor insurance.

The qualifications for apply the Maybank Car Loan are the following:

Sole proprietorships

Partnerships

Private Limited & Public Limited Companies

Individuals aged 18 years old and above

The terms of financing for the Maybank Car Loan are below:

Types of vehicles

Margin of financing

Repayment period

New passenger car, 4WD, MPV and SUV (CBU and CKD units)

Maximum of 90% of seller's invoice

Maximum 108 months

Secondhand passenger car, 4WD, MPV and SUV

Maximum of 85% of seller's invoice

Maximum 108 months

Unregistered reconditioned (imported) vehicle

Maximum of 90% of seller's invoice

Maximum 108 months

*All terms and conditions are subject to the financing guidelines by Bank Negara Malaysia and Maybank.

Diagram below are the steps to access into Maybank's online loan.

(Diagram 1)

1. Click <loan> to start the process of online loan. Click the types of loan that you want to apply.

(Diagram 2)

2. When you enter the hire purchase page, the Online Application Form is located at your right hand side. Click <Apply Now> to enter the page.

(Diagram 3)

3. This is the Application form that you need to fill in to apply for car loan.

(Diagram 4)

4. This is Hire Purchase Calculator to help you to calculate your loan repayment.

Personal loans of Maybank

What is Maybank Personal Loan? Maybank Personal Loan is an unsecured Personal Loan that hassles free and it does not require any collateral or guarantor. This Personal Loan has a fixed monthly repayment schedule. Because of this, personal loans tend to carry high interest rates. If a borrower owns a home, a lower interest rate alternative is a home equity loan. However, this option requires that the borrower put up his or her home or other real estate property as collateral.

There are some benefits of Maybank Personal Loan compared to other banks. Maybank Personal Loan offers the Treats Points equivalent to approved loan amount. For example, RM 10,000 approved for 10,000 Treats Points. By this way, those applied for this personal loan may earn Treats Points for every Ringgit Approved. Besides, there is a fast approval, no hidden costs, and hassle free which is no stamping of documents required. Government Service tax will not be imposed for Maybank Personal Loan facility too.

The qualifications for apply the Maybank personal loans are the following:

Minimum income of RM30,000 per annum

Individual Malaysian Citizen aged between 21 to 60 years old

The features of the Maybank Personal Loan are fixed monthly installment, loan amount, tenure and also interest rates. There are RM5000 minimum amount and RM100, 000 maximum amounts for the loan amount. Tenure was minimum tenure 1year and maximum tenure 6 years. For the interest rates, it is 11% per annum fixed rate for the loan amount RM5, 000 to RM20, 000 ; 10% per annum fixed rate for the loan amount RM20,001 to RM50,000 ; 9% per annum fixed rate for the loan amount RM50,001 to RM100,000.

Click Personal Loan to apply the personal loan. Refer to Diagram 1.

(Diagram 5)

1. Once you enter the page of Personal Loan, the Application Form is located at the right hand side. Click Apply Now to enter the page.

(Diagram 6)

2. Fill in the Application Form to apply Personal Loans.

Another function which provided by the Maybank is link to several social network. This function is important because it can connect the Maybank with social network to let other person know about Maybank system. The examples of social network which can link the Maybank to are Facebook, Twitter, Myspace, Messenger, etc.

Question 2 (b)

Live support system.

Firstly, add a new service for a Live Support System in the home page of the maybank2u.com. Nowadays market changes are quick and people has to react fast to meet the changes. So people started to demand for a rapid and convenience service because people`s concentrate can be lost easily and lack of patience. Customer do not wanted to wait because they feels like this is wasting their time which can used to done a lot of stuffs. Therefore, Maybank should have a Live Support System at their official page. Then our customers can access to our website at their convenience within a just a few clicks. By entering the Maybank's conversation room, customer can ask any question regarding to their problem. Operator will try to capture and guide customer follow by the steps. Unnecessary question that arise will be ignored and conversation room will logout itself. This system can help the customers who are working for a long hour and do not have enough time to go to Maybank. It may helps operator to react faster on solving customer`s problem. This will also help us to retain the customers in the long term. With this implemented system, it enable them to solve their problems easily and convenient. Once the whole section finished, customer will linked to a small tab for rating the services provided. Rating system basically ask customer about how was their felling about the service, what improvement Maybank can be taken, the Live Support System has help them to solve their problem and etc. To obtain the feedback and opinion from all customers is because to help Maybank identify their weaknesses of their service and strengths of their service. By knowing this Maybank are able to improve their services by minimize their weaknesses and strengthen their strength in their services.

Language Bar System

Secondly, add a new function for a language bar in the home page of the maybank2u.com. Maybank has already operated their business in Malaysia for 51 years which mean that Maybank has occupied a constant volume of customers in Malaysia. However, Malaysia is a multi races country which is majority of Malay, Chinese, and Indian. So, Maybank have to understand the languages between different races to communicate with them. Therefore, to provide the best service to customers Maybank should start from comprehend their languages. There is a way to do it online which is provide the language bar system that able to translate the Maybank website language into the language which they can understand. By using this Language Bar System customer can easily access to Maybank`s website with their understanding language. This may bring more convenience for the customers. Besides that, the reason to provide this Language Bar System is to let all the Maybank`s customer feels friendly and congenial with Maybank`s service through this new function. Moreover, Language Bar System also provides the ability to add menu items to existing language bar menus. This enables the menu items to be organized into logical groups. All the items inside the Language Bar System that added by the customer will saved permanent.

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