Proton introduces HP scheme for fresh graduates – interest rate as low as 2.98%, until December 31

Proton introduces HP scheme for fresh graduates – interest rate as low as 2.98%, until December 31

Proton – through its Proton Commerce (PCSB) subsidiary – has announced a car financing campaign specifically for fresh graduates. The Fresh Graduate Campaign, which runs until December 31, aims to provide those entering the workforce with the opportunity to own their first car at low hire purchase (HP) loan rates.

The interest rate starts at 2.98%, which the company says is presently one of the lowest in the segment. The basic requirement for a new graduate (minimum qualification, diploma) is that they be aged between 18-30 years and have a job with a minimum salary of RM1,500, and all that’s needed to qualify for the loan is a letter of employment or a month’s salary slip.

The company says the campaign is designed to help address the issues of mobility for those entering the job market in quicker fashion by providing the ability to obtain a HP loan without having to wait to furnish 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 PCSB CEO Mooi Fi Phang.

He added that 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 (OPR) and the exemption of sales tax for passenger vehicles. Find out more about the campaign here.

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Anthony Lim

Anthony Lim believes that nothing is better than a good smoke and a car with character, with good handling aspects being top of the prize heap. Having spent more than a decade and a half with an English tabloid daily never being able to grasp the meaning of brevity or being succinct, he wags his tail furiously at the idea of waffling - in greater detail - about cars and all their intrinsic peculiarities here.

 

Comments

  • With interest free moratorium & super duper low interest scheme for fresh grads, P1 cars r mampu milik for all grads. Tenkiu P1!

    Like or Dislike: Thumb up 20 Thumb down 3
    • Curry laksa on Aug 04, 2020 at 1:52 pm

      Actually, thank you Geely for suggesting Proton this GC HP scheme. It is a good way to attract fresh graduates to buy Proton

      Like or Dislike: Thumb up 2 Thumb down 10
      • Laksa sedap woo on Aug 04, 2020 at 6:03 pm

        Its not the first time P1 do such thing. Previously it was done but in collaboration with banks.

        Lets hope they continue with lower rate from their own financing house. This way banks will feel the pinch and try to fight match the rate.

        Like or Dislike: Thumb up 4 Thumb down 1
      • Lol no! Sorry for you but Geely never had such affordable car program for fresh graduates in China. This is a purely local Proton idea hatched by our geniuses. Too bad for your fake news bro.

        Like or Dislike: Thumb up 7 Thumb down 2
  • AliAhKauRamasamy on Aug 04, 2020 at 11:58 am

    Good initiative and move for fresh grads and Proton itself

    Like or Dislike: Thumb up 10 Thumb down 1
  • chickenduck on Aug 04, 2020 at 12:57 pm

    2.98 is high. My first car i got 2.4% 4 years ago.

    Like or Dislike: Thumb up 4 Thumb down 3
    • Ghani on Aug 04, 2020 at 1:10 pm

      Considering that interest rates are now 3.2%, anything lower that 3% is quite good dy. Thx Proton!

      Like or Dislike: Thumb up 4 Thumb down 1
  • Proton Cina on Aug 04, 2020 at 12:59 pm

    Proton Saga is dated. Period

    Like or Dislike: Thumb up 2 Thumb down 13
  • panjang on Aug 04, 2020 at 1:02 pm

    ‘1st taste of freedom’ is not suitable to use.
    No such thing as freedom when we tie ourself to a debt.

    Like or Dislike: Thumb up 13 Thumb down 1
    • Not Toyota Fan on Aug 05, 2020 at 6:13 pm

      Tak kan lah put “First taste in financial debt” LOL

      Like or Dislike: Thumb up 0 Thumb down 0
  • Bieight on Aug 04, 2020 at 1:58 pm

    Only spm cannot??

    Like or Dislike: Thumb up 0 Thumb down 0
    • panjang on Aug 04, 2020 at 9:46 pm

      U got a point there…one of the criteria is min wage of RM1500. At some location, thats waht SPM holder can get.

      Like or Dislike: Thumb up 2 Thumb down 0
  • C.P. MOHAN on Aug 04, 2020 at 5:00 pm

    If interest rate are fixed that is not reducing for whole HP period than it is high because it is depreciating.

    Like or Dislike: Thumb up 1 Thumb down 1
  • Ben Yap on Aug 04, 2020 at 5:18 pm

    not attractive the interest rate. i only pay 2.5% interest for my civic turbo which i bought in early 2017.

    Like or Dislike: Thumb up 0 Thumb down 13
    • Abuhden! Non-national cars typically has higher interest rates than national cars because of their much higher price.

      Like or Dislike: Thumb up 1 Thumb down 0
  • waah…2.98%…berbaloi!

    even FD interest is lower ^^

    Like or Dislike: Thumb up 0 Thumb down 0
  • Baru start work, sudah hutang PTPTN hutang car loan..

    Like or Dislike: Thumb up 0 Thumb down 1
 

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