Gadget Repair Instalment Plan

Direct Lending’s Gadget Repair Financing (Repair Now, Pay Later) is an unsecured financing facility and is Shariah compliant. It is solely for gadget repair purposes, as the approved amount will be disbursed directly to the repair shop where your smartphone, tablet or laptop will be repaired. The facility is calculated based on a fixed profit rate, resulting in fixed monthly instalments throughout the selected tenor. Now you can pay for your gadget repair in convenient monthly instalments, with flexible repayment periods of 3–12 months, easing your financial burden while getting your device repaired quickly and safely.

The facility is based on the Shariah concept of Commodity Murabahah via Tawarruq. This a buy and sell contract between Direct Lending and you, under a specific Shariah compliant commodity will be identified and used as the underlying asset for the sale and purchase transaction between customer and Direct Lending for the purpose of disbursing the funds under the Facility.

Other than filling in basic personal details, we only require the following two documents:

• Photos of NRIC (front and back)
• Bank statement in the past 3 months (main account that receives income such as salary) – find out how to download bank statements here

It is open to Malaysian nationals aged between 18 – 65 years old. You must have a bank account. A credit card is NOT required.

It takes seconds to know your prequalified results based on the credit profile and you will know final approval results and maximum amount as fast as 15 minutes (during working hours) after submitting the complete documentation.

Once you receive pre-approval, you can use the financing facility within 2 weeks.

Knowing how much you need to pay in monthly instalments for your gadget repair helps you plan ahead and book your appointment with any participating repair shop.

You can also apply directly at the repair shop if you realize you need additional funding for your device repair. We provide pre-approved results as fast as 15 minutes during working hours.

The profit rate is 1.5% per month. There is no processing fee involved in this financing.

The range of the financing amount is from RM300 (minimum) to RM5,000 (maximum). Financing period from 3 to 12 monthly payments.

No, it will be done digitally through your mobile phone when you decided to use the approved facility.

The facility does not require any guarantor or collateral.

Direct Lending will disburse the financing directly to the gadget repair shop within 1-2 working days after signing the financing agreement. If the financing amount is insufficient to cover the full repair cost, you will need to pay the remaining balance directly to the repair shop before your device is repaired.

Prior to signing the financing agreement on Direct Lending's platform, you will set up the eMandate to allow auto-debit from your bank account from a licensed financial institution in Malaysia. The monthly payment plan will be deducted from this account on the payment due dates as stated in the financing agreement.

If you fail to make any monthly instalments or pay any other amount payable when due, you shall pay the late payment charge of 8% per annum (consists of a compensation / Ta’widh (1%) and a penalty / Gharamah (7%) that will be channeled to charitable bodies). The late payment charge will not be compounded.

You can make an early settlement before the expiry of the Instalment tenure, by giving 1-week prior written notice to Direct Lending. A rebate for early settlement on the remaining deferred profit may be granted to you.

Please fill up this simple form and we will be in contact with you within 1 working day.

The financing will be offered by Direct Lending Sdn Bhd, an online personal financing platform in Malaysia that supports hardworking adults to access to safe and affordable financing. Direct Lending is a licensed moneylender registered under Ministry of Local Government Development (KPKT).

Direct Lending is recognised as Top Rising Star of the Year in Fintech Frontiers Award 2023. Direct lending is a grant recipient from the Cradle Fund Sdn Bhd, and a graduate from the Malaysian Global Innovation & Creativity Centre’s (MaGIC) Global Accelerator Program.