Siam Commercial Bank (SCB) saw its digital lending grow at a faster pace than expected in the six months to June, prompting the bank to say full-year lending could reach 18-20 billion baht.The bank extended 8 billion baht worth of unsecured loans through the mobile banking app SCB Easy during January to June, compared with a full-year target of 10 billion, said co-president Apiphan Charoenanusorn. The simplicity, convenience and speed of digital loans are the key contributors to the significant growth, she said. Credit card loans dominate SCB's digital lending at 70%, while personal loans make up the rest. The bank's existing customers with monthly income of 30,000-50,000 baht are the big digital loan borrowers. "With the high quality of the market segment, we can control non-performing loans of online lending at below 1% of the loan portfolio," Ms Apiphan said. On average, SCB charges 18% interest for digital personal loans, in line with the low risk profile of the borrowers based on … [Read more...] about Pace of digital channel powers SCB loan growth
Texas higher education loan
If you have a poor credit score, there is a possibility that the bank will lower your loan quantum. If your credit report reflects serious issues, such as a credit grade of C or a statement of default, it is possible that your loan application will be rejected altogether. As such, it is important to build your creditworthiness before thinking of major loans like a home loan or car loan. Factors which lower your credit score are late repayments on unsecured loans like credit cards, multiple loan applications in a short time, or having debts written off. If you are unaware of your credit score, you can obtain one from the Credit Bureau of Singapore (CBS). This usually costs S$6.42. If you have poor credit or no credit history at all, you can build one up by taking small loans and paying them back responsibly. The easiest way to do this is to use a credit card, on which you always repay the full amount (there is no interest charged on credit cards if you make full repayment). 2. SECURE … [Read more...] about Are you ready to get a car loan in singapore?
GEORGE TOWN: The idea to reintroduce the travel ban on loan defaulters of the National Higher Education Fund Corporation (PTPTN) did not come from the corporation. Education Minister Dr Maszlee said the suggestion was made during a public consultation hosted by the PTPTN. “From what I see, PTPTN wanted a public consultation. They wanted to get public opinion on several matters. They wanted suggestions from the public consultation. “It was not their idea but when the media asked him (PTPTN chairman Wan Saiful Wan Jan) about it, his answer implied so. In my opinion, PTPTN should explain to the media so that such misunderstandings do not occur,” he told reporters after visiting Sekolah Jenis Kebangsaan Tamil Sungai Ara, near here today. Yesterday, the fund’s deputy chief executive Mastura Mohd Khalid said stricter enforcement to be imposed on loan defaulters who had not serviced their loans for a long period of time was one of the 10 ideas obtained from the … [Read more...] about Travel ban on loan defaulters not PTPTN’s idea
KUALA LUMPUR: The Ministry of Education is planning to have a new Higher Education Act enacted to eliminate barriers to free speech in universities, said deputy minister Teo Nie Ching. She said the new act would consolidate acts related to higher education namely the Universities and University Colleges Act 1971, the Private Higher Educational Institutions Act 1996, the Educational Institutions (Discipline) Act 1976 and other relevant acts. “Currently the ministry is collecting feedback from stakeholders of educational institutions. “Come June we will develop the framework and subsequently the preliminary draft would be submitted to the Cabinet. “From July to October, we will hold a town hall session for public engagement, and we hope to have the new Bill tabled in Parliament in 2020 after obtaining the approval of the Attorney-General’s Chambers and the Cabinet,“ she said during the question-and-answer session at the Dewan Negara today. Teo was replying … [Read more...] about Education Ministry to propose new Higher Education Act
When the President signed into law the proposed Tulong Trabaho Act in late February this year, images of the past scandal involving the Technical Education and Skills Development Authority (TESDA) briefly flashed in our minds. Still fresh in our minds is a Commission on Audit (COA) report on TESDA released in 2013 that highlighted a number of questionable payments to 11 technical vocational institutions (TVIs) found to have overpriced tuition fees or shortened training schedules. It was during the time when the Priority Development Assistance Fund (PDAF), also known as pork barrel, was still in existence, and where 19 legislators were implicated in the TESDA anomalies, mainly for having supported the questionable TVIs. With billions of pesos made available to TESDA in recent years, either through the national government, the pork barrel system, or donations, the COA not only revealed “non-compliance” to TESDA training standards, but even the presence of “ghost” … [Read more...] about Poor regard for tech-vocational education