Automotive

Published on August 4th, 2020 | by Joshua Chin

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Proton Offering Low Interest Car Loans For Fresh Grads

Proton’s Fresh Graduate campaign offers interest rates of as low as 2.98%. 

Fresh grads may not have much luck in the job market right now, with the coronavirus pandemic and all. But to the youth of today who manage to hold on to their new jobs, they can now own a brand new Proton for as low as RM239 a month. 

Proton Iriz

This staggeringly low monthly repayment is thanks to the Fresh Graduate Campaign that is currently ongoing. Managed by Proton Commerce Sdn. Bhd. (PCSB), this campaign offers interest rates of as low as 2.98%, which incidentally is one of lowest in the segment. 

Designed with young adults in mind, the only requirements to be eligible for this attractive deal is that the customer be a graduate holding a minimum qualification of a diploma, be between 18 and 30 year old and is employed with a minimum salary of RM1500. 

Proton Persona

To qualify for the loan, customers are only required to produce a letter of employment or a month’s salary slip. In contrast to the usual three months proof of income for other Hire Purchase loan programs. Proton claims that this process will greatly help those who are just entering the job market. 

Furthermore, as of 7 July 2020, PCSB has reduced the ‘overall offering interest rates to as low as 2.22% based on customer creditability and margin of finance’. So to those interested, there might be a better deal to be had at the Proton dealership now. Hurry though as this offer ends on the 31st of December 2020. 

More information can be found in the press release below. 

Proton Commerce Sdn. Bhd. (PCSB), a company under the PROTON Group has announced a campaign that provides fresh graduates an opportunity to own their first car with low Hire Purchase (HP) loan rates. 

This unique Fresh Graduate Campaign only requires a letter of employment or a month’s salary slip in order to qualify for a loan, making it very accessible. Starting at just 2.98% the rate offered by PCSB is currently one of the lowest in the segment. Basic requirements for a customer include being a graduate (minimum qualification diploma), be aged between 18-30 years and have a job with a minimum salary of RM1500. The offer will run until 31 December 2020, coinciding with the sales tax holiday currently being enjoyed by all PROTON cars. 

The campaign is designed to help address the issues of mobility for those entering the job market. A key deterrent for this segment of buyers has often been the ability to obtain a HP loan without having the proof of income for three months, a common requirement for most HP loans. 

“In today’s connected economy, mobility is important for young adults just entering the workforce. It provides a sense of empowerment and autonomy to these graduates. We are confident that this package will assist fresh graduates to own a car, as monthly repayments start from as low as RM239 per month” said Mooi Fi Phang, Chief Executive Officer of PCSB. 

According to Mooi, the HP industry is projected to experience a surge in the near future, as a result of recent reduction in the reduction of the Overnight Policy Rate and the exemption of sales tax for passenger vehicles. 

Therefore, in addition to the Fresh Graduate Campaign package, PCSB also announced that as of 7 July 2020, it has reduced the overall offering interest rates to as low as 2.22% based on customer creditability and margin of finance. This means customers would directly benefit as their lower monthly repayment would enable them to use the savings on essentials, and conserve some funds for emergencies. 

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About the Author

Amateur automotive journalist. Professional work on dsf.my and automacha.com. Personal writing found at driveeveryday.me. Instagram: @driveeveryday



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