RHB Bank Bhd, which has partnered financial technology company Finology Sdn Bhd to offer customers the ease of applying for personal financing online in just five minutes via the latter's online platform, aims to disburse up to RM2 billion in personal financing to eligible borrowers by 2019.

In a statement, RHB said the service — RHB Easy-Pinjaman Ekspres — is now also available via Loanstreet.com.my, a financial comparison site offered by Finology. Besides Loanstreet, the service is available through three other online platforms, namely RinggitPlus, iMoney and GoBear.

The express financing application service is a "feasible option for applicants in need of immediate financing for education, business, home renovation, financial consolidation and other needs", said RHB.

Applicants with a monthly salary of RM3,000 and above can apply online to obtain up to RM150,000 in personal financing, and the platform will notify applicants on their loan approval status within 24-hours via SMS, it said.

"By offering RHB Easy-Pinjaman Ekspres on Loanstreet, customers will be able to apply for financing in a more agile and versatile manner. RHB aims to disburse up to RM2 billion in personal financing to eligible borrowers by 2019. By making this product available on Loanstreet.com.my, we hope eligible customers will be able to apply for personal financing online within five minutes," said RHB Banking Group's acting Head of Group Retail Banking, Nazri Othman.

According to RHB, the user-friendly platform includes a quick calculator to enable customers to check their loan eligibility and monthly repayments, helping customers to effectively manage their finances.

Applicants then have the option to seek assistance online or to speak directly to customer service personnel.

"In conjunction with the launch, successful applicants will stand a chance to walk away with exclusive gifts, namely Xiaomi Amazfit watches for a loan amount of RM20,000 and above. This gift campaign starts from 6th May till 6th August 2019," RHB said.