You may have heard that the personal loan in Penang, Malaysia is called the atau or pajema atau. It is actually the traditional currency used in Penang and even the capital city of Kuala Lumpur. The atau is actually a series of numbers which are originally based on the United Malaysians’ gold coins that were known as pinjama.
Personal Loan in Penang
In time, these coins have been changed into current currency. This specific number is used to indicate how much money a person owed when they were at the time of borrowing.
The number one piece of currency in Penang, Malaysia is the ringgits which is worth around forty ringgits. Next is the dollar which is worth about twenty-five to forty ringgits loan penang. Then the next currency to be used is the Kuala Lumpur ringgits which are worth fifty to one hundred ringgits. The last currency that can be used is the penang krung which is worth seventy to one hundred ringgits. All of these currencies are written on a document known as the data.
The personal loan in Penang will always be denominated in the atau. So if you want to exchange your ringgits to the Kuala Lumpur ringgits, you will need to get the atau and then change it to the ringgits. The atau is what is used for legal transactions and for carrying trade between two countries. This is how it works. If you are going to pay for goods or services in another country, you will need their currency before you can spend it.
A good example would be buying a watch in Kuala Lumpur. Before you can have the money changed, you need to have the atau in Penang and then you will have to have a letter from the trader that has to be sent to the Malaysian embassy. This letter will require you to go to the consulate and have your account details ready. The account details will include the exchange rate of your currency to the Malaysian ringgits, which is currently 1.6 RM to one ringgits.
The fees for getting the loan in Penang are very low. The minimum fee is only fifteen Ringgits which is a pretty cheap price to pay for your transaction. You can use the atau for all your transactions and you will always have the same monetary value. This is also very convenient because your debit cards will work in any ATM machines and you will never run out of ringgits. If you transfer more money from your account then you will be charged extra amounts.
When you get your new account, you should start depositing your money into your account as soon as possible so that you do not have to wait for an extended period. The best place to start depositing is in the data which is located in the center of Penang.
Once you have made ten deposits, you will be allowed to open a checkbook that is used to withdraw your money. The last three digits of your account number should be the debit or credit symbol and the pin number that will allow you to withdraw your money.