Compare Loan Providers in Malaysia
When considering personal loans in Malaysia, it’s essential to compare offerings from various banks and financial institutions to find the best terms that suit your financial needs. Below is an overview of some prominent personal loan providers in Malaysia:
1. Alliance Bank CashFirst Personal Loan
- Interest Rate: Starting from 4.99% per annum.
- Loan Amount: RM5,000 to RM150,000.
- Loan Tenure: 1 to 7 years.
- Eligibility: Malaysian citizens aged 21 and above with a minimum monthly income of RM3,000.
- Processing Fee: RM120 for locals; RM600 for foreigners with Permanent Residency (PR).
- Features:
- Competitive interest rates.
- Flexible loan tenure options.
- Quick approval process.
- Website: Alliance Bank CashFirst Personal Loan
2. HSBC Amanah Personal Financing-i
- Profit Rate: Between 4.88% to 10.50% per annum.
- Loan Amount: RM6,000 to RM250,000.
- Loan Tenure: 2 to 7 years.
- Eligibility: Open to all salaried employees with a minimum monthly income of RM5,000.
- Features:
- Attractive profit rates.
- No processing fees.
- Flexible loan tenure.
- Website: HSBC Amanah Personal Financing-i
3. CIMB Cash Plus Personal Loan
- Interest Rate: Starting from 4.38% per annum.
- Loan Amount: RM2,000 to RM100,000.
- Loan Tenure: 2 to 5 years.
- Eligibility: All salaried employees with a minimum monthly income of RM2,000.
- Features:
- No processing fees or early settlement fees.
- Flexible loan tenure options.
- Quick approval and disbursement.
- Website: CIMB Cash Plus Personal Loan
4. Maybank Personal Loan
- Interest Rate: Competitive rates based on loan amount and tenure.
- Loan Amount: Up to RM150,000.
- Loan Tenure: Up to 7 years.
- Eligibility: Malaysian citizens aged between 21 to 60 years with a minimum monthly income of RM3,500.
- Features:
- Attractive interest rates.
- Flexible loan tenure.
- Quick approval process.
- Website: Maybank Personal Loan
5. RHB Personal Financing-i
- Profit Rate: Starting from 13.31% per annum.
- Loan Amount: RM2,000 to RM150,000.
- Loan Tenure: 1 to 7 years.
- Eligibility: Malaysian citizens aged between 21 to 55 years.
- Features:
- Fast approval process.
- No stamp duty charges.
- Flexible loan tenure options.
- Website: RHB Personal Financing-i
Key Considerations When Comparing Personal Loans in Malaysia:
- Interest/Profit Rates: Look for competitive rates to minimize the total repayment amount.
- Loan Tenure: Choose a tenure that aligns with your financial capacity, balancing monthly payments and total interest paid.
- Loan Amount: Ensure the loan amount meets your financial requirements without over-borrowing.
- Eligibility Criteria: Verify that you meet the income and age requirements.
- Fees and Charges: Be aware of processing fees, early settlement fees, and other charges that may apply.
- Approval Time: Consider the speed of loan approval and disbursement, especially if you require funds urgently.
It’s advisable to use online comparison tools and consult with financial advisors to make an informed decision tailored to your financial situation.
