Best Personal Loans for Bad Credit in Malaysia (2025)
Finding a personal loan when you have bad credit can be challenging, but some lenders specialize in offering options for borrowers with lower credit scores. Below, we review the best personal loans for bad credit in Malaysia based on interest rates, loan terms, and eligibility requirements.
Top Personal Loans for Bad Credit in Malaysia
1. Bank Rakyat Personal Financing-i
- Loan Amount: Up to RM 200,000
- APR: Starts from 4.54% p.a.
- Minimum Credit Score: No strict minimum, but subject to credit assessment
- Pros: High loan amount, competitive interest rates
- Cons: Requires stable income and good repayment history
2. CIMB Cash Plus Personal Loan
- Loan Amount: RM 2,000 – RM 100,000
- APR: 5.88% – 14.88% p.a.
- Minimum Credit Score: Flexible criteria
- Pros: No collateral required, fast approval
- Cons: Higher interest rates for lower credit scores
3. Maybank Personal Loan
- Loan Amount: RM 5,000 – RM 100,000
- APR: 6.5% – 8.0% p.a.
- Minimum Credit Score: Evaluated by the bank
- Pros: Fixed interest rate, fast disbursement
- Cons: Requires proof of stable income
4. AEON i-Cash Personal Financing
- Loan Amount: RM 1,000 – RM 100,000
- APR: 8.00% – 14.00% p.a.
- Minimum Credit Score: No strict minimum, but subject to approval
- Pros: No guarantor required, easy application
- Cons: Higher interest rates for those with poor credit
How to Qualify for a Personal Loan with Bad Credit in Malaysia
- Check Your Credit Score – Use CCRIS or CTOS to review your credit standing.
- Compare Lenders – Look for lenders that offer flexible terms for borrowers with lower credit scores.
- Improve Your Credit (if possible) – Pay down debts, ensure timely payments, and correct errors on your report.
- Consider a Co-Signer – A co-signer with good credit can help you secure better loan terms.
- Look for Secured Loan Options – Some banks allow you to use collateral for better approval chances and lower interest rates.
Alternatives to Personal Loans for Bad Credit in Malaysia
- Cooperative Loans (Koperasi Loans) – Employees of government-linked companies may have better loan approval chances.
- Secured Loans – Use collateral such as fixed deposits or property to increase approval chances.
- Licensed Money Lenders – Private lenders offer loans with flexible criteria but may have higher interest rates.
- Credit Builder Loans – Help improve your credit standing through structured repayment plans.
Navigating the loan landscape in Malaysia requires understanding your credit status and exploring different financial institutions’ offerings. By researching your options and taking steps to improve your financial standing, you can find a loan that best suits your needs.
