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FIN 368 - Product and Service Report

   

Added on  2022-02-04

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CAMPUS ALOR GAJAH MALACCA
CREDIT MANAGEMENT (FIN368)
INDIVIDUAL ASSIGNMENT
TOPIC: PRODUCT AND SERVICES REPORT
(PERSONAL LOAN)
PREPARED FOR:
MISS NORZAHIDAH BINTI YACOB
PREPARED BY:
NUREEN NASYIDA BINTI MOHD NASHROM
(2019886152)
CLASS OF MBA1195A
DATE OF SUBMISSION: 03 DECEMBER 2021
FIN 368 - Product and Service Report_1
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ACKNOWLEDGEMENT
I'd like to thank Allah SWT and His messenger first. We owe it to the blessing
of Prophet Muhammad SAW, who has always directed us to follow the straight path.
With his grace, I can fulfil this unique task with vigour and dedication. So insha'Allah,
all the work spent looking for and researching ideas was worth it. In particular, I want
to thank those who have accompanied me on this journey.
So, I'd like to thank those who helped me complete my personal task. To my
parents who constantly prayed for me and spent time listening to my problems, I
express my sincere appreciation for their kindness and compassion. Otherwise, I
might be unable to finish this particular task. To finish this individual work, I would like
to thank Miss Norzahidah Binti Yacob, my credit management lecturer, for her valuable
help. Not to mention my buddies who helped me and shared suggestions. They also
helped and advised me a lot. Their small help means a lot.
Not only do I lack valuable words to thank everyone, but my heart is still full of
appreciation. On my part, I shall aim to employ finely honed talents and knowledge to
the Thank you for completing my personalised assignment. For information and ideas,
I had invested extra effort. I wish for my efforts to be worthwhile.
FIN 368 - Product and Service Report_2
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TABLE OF CONTENT
NO. CONTENT PAGE
1.0 INTRODUCTION OF PRODUCT
1.1 DEFINITION OF PERSONAL LOAN 4
1.2 CHARACTERISTICS/FEATURES OF PRODUCT 5
1.3 ADVANTAGES OF THE PRODUCT 6
1.4 DISADVANTAGES OF THE PRODUCT 7
2.0 ISSUE RELATED TO THE PRODUCT AND
SERVICES SINCE 2020 AND 2021
2.1 MORATORIUM RELATED TO THE PERSONAL
LOANS SINCE 2020 AND 2021
8
2.2 ADVANTAGES AND DISADVANTAGES OF
MORATORIUM TO THE CUSTOMERS
9
2.3 IMPACT ON NEW CUSTOMERS AND EXISTING
CUSTOMERS
10
2.4 DEMAND OF THE PRODUCT AND SERVICES
DURING COVID-19
10
3.0 CONCLUSION AND RECOMMENDATION 11
4.0 REFERENCES 12
5.0 APPENDIX 13
FIN 368 - Product and Service Report_3
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CHAPTER 1: INTRODUCTION OF PRODUCT
1.1 DEFINITION OF PERSONAL LOAN
When a bank or other financial institution lends money to an individual, it's known as
a "personal loan." It's also known as a consumer loan. Due to a variety of
circumstances, including unemployment, a lack of available funds for repayment, and
the accumulation of excessive interest, taking out a personal loan became necessary.
Taking out a personal loan is considerably different than taking out a credit card. A
personal loan delivers a single, significant sum of money to its debtors. Over the
course of the loan's term, borrowers are expected to make regular monthly payments
to cover both the principal and interest.
Personal loans can be secured or unsecured. A loan might be secured by a property
like a house or a car. Assets are put to use in this way. A high-risk unsecured loan is
one that doesn't require a security and is therefore characterised as interest risk.
FIN 368 - Product and Service Report_4

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