Is 18% a flat rate or an effective rate?

It is the maximum annual percentage rate (APR) and interest is charged daily at 0.049315% on the outstanding amount, so a longer period costs more in total.

What happens if I repay early?

Interest accrues daily, so settling before the end date means you pay for the days you actually held the money and no more. There is no early-settlement penalty.

Can I borrow again after repaying?

Yes, you can apply again from the app once a loan is settled, subject to a fresh assessment.

Loan calculator

What a PoketGo loan actually costs

Pick an amount and a repayment period and see the interest and the total you would repay, before you give anyone your number. No fees are added on top.

The terms, plainly

Loan amount: RM 500 to RM 20,000
Repayment period: 91 to 365 days
Maximum APR: 18%
Daily interest rate: 0.049315%
Processing fee: RM 0
Service fee: RM 0
Late fee: RM 0
Other charges: RM 0

Worked example

Copied from our Google Play listing, so you can check it there too. See it on Google Play

Borrowed for 91 days: RM 2,000.00
Interest (RM 2,000 × 91 days × 0.049315%): RM 89.75
Fees: RM 0.00
Total amount repayable: RM 2,089.75

APR 18%

The formula

Interest = amount × days × 0.049315%

Total repayable = amount + interest. Nothing else is added: no arrangement fee, no stamping fee, no early-settlement penalty.

Cost by amount and period

Interest and total repayable, using the same rate. Add nothing for fees.

Amount	Repay over	Total repayable (interest)
RM 500.00	91	RM 522.44 (+RM 22.44)
	180	RM 544.38 (+RM 44.38)
	365	RM 590.00 (+RM 90.00)
RM 1,000.00	91	RM 1,044.88 (+RM 44.88)
	180	RM 1,088.77 (+RM 88.77)
	365	RM 1,180.00 (+RM 180.00)
RM 3,000.00	91	RM 3,134.63 (+RM 134.63)
	180	RM 3,266.30 (+RM 266.30)
	365	RM 3,540.00 (+RM 540.00)
RM 5,000.00	91	RM 5,224.38 (+RM 224.38)
	180	RM 5,443.84 (+RM 443.84)
	365	RM 5,900.00 (+RM 900.00)
RM 10,000.00	91	RM 10,448.77 (+RM 448.77)
	180	RM 10,887.67 (+RM 887.67)
	365	RM 11,800.00 (+RM 1,800.00)
RM 20,000.00	91	RM 20,897.53 (+RM 897.53)
	180	RM 21,775.34 (+RM 1,775.34)
	365	RM 23,600.00 (+RM 3,600.00)

Why there is no fee line

Many loan apps quote RM 0 but recover the cost in a processing or service fee taken out of the payout. Ours are RM 0, so the amount you borrow is the amount you get and the total above is the total you pay. If you repay late there is no late fee either; interest simply keeps running until it is cleared.

What is not on this page

Approval is not guaranteed and the final amount depends on the assessment in the app. The figures here use the maximum APR — a shorter period costs less in absolute interest because interest accrues daily, and settling early stops it.

Is 18% a flat rate or an effective rate?: It is the maximum annual percentage rate (APR) and interest is charged daily at 0.049315% on the outstanding amount, so a longer period costs more in total.
What happens if I repay early?: Interest accrues daily, so settling before the end date means you pay for the days you actually held the money and no more. There is no early-settlement penalty.
Can I borrow again after repaying?: Yes, you can apply again from the app once a loan is settled, subject to a fresh assessment.