Compare Personal Loans in Malaysia 2024

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Personal Loans

Showing personal loan packages for loan amount of RM 10,000 over 5 years

CBP Pembiayaan Peribadi - I

CBP Pembiayaan Peribadi - I Islamic

Profit Rate: 2.67 %

( Effective Rate: 5.04% )

Monthly Payment: RM 189

(Total Repayment: RM 11,335)

Apply
More About This Product
  1. Minimum loan amount: RM 5,000.00
  2. Maximum loan amount: RM 200,000.00
  3. Minimum Tenure: 12 Month(s)
  4. Maximum Tenure: 120 Month(s)
  5. Minimum Age: 18 Years Old
  6. Maximum Age: 60 Years Old upon financing maturity
  7. Islamic Financing
  8. Special Requirements:

    No Guarantor Needed

    Payslip Collection Required
Fees and charges
  1. Stamp Duty: 0.5% from Loan Amount + RM20
  2. Processing Fee: N/A
  3. Late Payment Fee: N/A
  4. Early Settlement Fee: N/A
  5. Handling Fee: 50
  6. APR: %
RHB Personal Financing-i for Civil Sector

RHB Personal Financing-i for Civil Sector

Profit Rate: 3.0 %

( Effective Rate: 5.64% )

Monthly Payment: RM 192

(Total Repayment: RM 11,500)

Apply
More About This Product
  1. Minimum loan amount: RM 2,000.00
  2. Maximum loan amount: RM 300,000.00
  3. Minimum Tenure: 24 Month(s)
  4. Maximum Tenure: 120 Month(s)
  5. Minimum Age: 18 Years Old
  6. Maximum Age: 58 Years Old upon financing maturity
  7. Islamic Financing
  8. Special Requirements:

    No guarantor required
Fees and charges
  1. Stamp Duty: RM10
  2. Processing Fee: RM30
  3. Late Payment Fee: 1% on outstanding loan amount
  4. Early Settlement Fee: None
  5. Handling Fee: None
  6. APR: %
RHB Personal Financing-i for Pensioner

RHB Personal Financing-i for Pensioner

Profit Rate: 3.79 %

( Effective Rate: 7.05% )

Monthly Payment: RM 199

(Total Repayment: RM 11,895)

Apply
More About This Product
  1. Minimum loan amount: RM 5,000.00
  2. Maximum loan amount: RM 100,000.00
  3. Minimum Tenure: 36 Month(s)
  4. Maximum Tenure: 120 Month(s)
  5. Minimum Age: 40 Years Old
  6. Maximum Age: 67 Years Old upon financing maturity
  7. Islamic Financing
  8. Special Requirements:


    • Only for Pensioners's of Malaysian Government Servant

    • No Guarantor or Collateral Required
Fees and charges
  1. Stamp Duty: RM10
  2. Processing Fee: RM50
  3. Late Payment Fee: 1% p.a. of amount in arrears
  4. Early Settlement Fee: None
  5. Handling Fee: None
  6. APR: %
BSN MyRinggit (PUBLIC SECTOR)

BSN MyRinggit (PUBLIC SECTOR)

Interest Rate: 4.6 %

( Effective Rate: 8.47% )

Monthly Payment: RM 205

(Total Repayment: RM 12,300)

Apply
More About This Product
  1. Minimum loan amount: RM 5,000.00
  2. Maximum loan amount: RM 200,000.00
  3. Minimum Tenure: 12 Month(s)
  4. Maximum Tenure: 120 Month(s)
  5. Minimum Age: 18 Years Old
  6. Maximum Age: 60 Years Old upon loan maturity
  7. Conventional Loan
  8. Special Requirements:


    • Works in government sector / GLA / GLC / organizations which has the facility of salary deduction through BPA

    • Permanent employee who has been employed for 3 months and above

    • Contract / temporary employee (over 12 months' service)

    • BSN GIRO/i Account holders
Fees and charges
  1. Stamp Duty: 0.5% loan amount
  2. Processing Fee: N/A
  3. Late Payment Fee: 1% of the per annum on the outstanding payments
  4. Early Settlement Fee: N/A
  5. Handling Fee: N/A
  6. APR: %
Cash-i (Government, GLCs, GLICs & Employers under Empanelment Program)

Cash-i (Government, GLCs, GLICs & Employers under Empanelment Program)

Profit Rate: 4.65 %

( Effective Rate: 8.55% )

Monthly Payment: RM 206

(Total Repayment: RM 12,325)

Apply
More About This Product
  1. Minimum loan amount: RM 10,000.00
  2. Maximum loan amount: RM 400,000.00
  3. Minimum Tenure: 24 Month(s)
  4. Maximum Tenure: 120 Month(s)
  5. Minimum Age: 18 Years Old
  6. Maximum Age: 60 Years Old upon financing maturity
  7. Islamic Financing
  8. Special Requirements:

    Government Employees


    • Federal and State Governments

    • Confirmed position or is a permanent staff




    Newly Employed Civil Servant (NECS)


    • Employment less than 1 year




    Contract Government Servant


    • More than 1 year working experience

    • Grade 41 and above except Nurse U29
Fees and charges
  1. Stamp Duty: As per the Stamp Duty Act 1949
  2. Processing Fee: None
  3. Late Payment Fee: 1% p.a. of total outstanding amount
  4. Early Settlement Fee: Ibra'
  5. Handling Fee: RM50
  6. APR: %
Bank Muamalat Personal Financing-i (3P Special Package, 3PS)

Bank Muamalat Personal Financing-i (3P Special Package, 3PS)

Profit Rate: 4.95 %

( Effective Rate: 9.07% )

Monthly Payment: RM 208

(Total Repayment: RM 12,475)

Apply
More About This Product
  1. Minimum loan amount: RM 5,000.00
  2. Maximum loan amount: RM 150,000.00
  3. Minimum Tenure: 36 Month(s)
  4. Maximum Tenure: 120 Month(s)
  5. Minimum Age: 45 Years Old
  6. Maximum Age: Years Old upon financing maturity
  7. Islamic Financing
  8. Special Requirements:

    Employment under "Tetap & Berpencen" category

    For LLP - at least 18 years in services

    For Officer - Minimum 5 years before retirement

     
Fees and charges
  1. Stamp Duty: As per the Stamp Duty Act 1949
  2. Processing Fee: None
  3. Late Payment Fee: 1% p.a. on total outstanding amount
  4. Early Settlement Fee: None
  5. Handling Fee: None
  6. APR: %
MBSB Mumtaz-i

MBSB Mumtaz-i

Profit Rate: 5.8 %

( Effective Rate: 10.51% )

Monthly Payment: RM 215

(Total Repayment: RM 12,900)

Apply
More About This Product
  1. Minimum loan amount: RM 3,000.00
  2. Maximum loan amount: RM 250,000.00
  3. Minimum Tenure: 24 Month(s)
  4. Maximum Tenure: 120 Month(s)
  5. Minimum Age: 19 Years Old
  6. Maximum Age: 60 Years Old upon financing maturity
  7. Islamic Financing
  8. Special Requirements:

     


    • Government Employee

    • Employee of Government Link-Company (GLC)

    • State Government Link-Company

    • Local Council

     
Fees and charges
  1. Stamp Duty: None
  2. Processing Fee: None
  3. Late Payment Fee: 1% of the total outstanding loan amount and not compounded
  4. Early Settlement Fee: None
  5. Handling Fee: None
  6. APR: %
Bank Rakyat Personal Financing-i Public Sector

Bank Rakyat Personal Financing-i Public Sector

Profit Rate: 6.25 %

( Effective Rate: 11.27% )

Monthly Payment: RM 219

(Total Repayment: RM 13,125)

Apply
More About This Product
  1. Minimum loan amount: RM 5,000.00
  2. Maximum loan amount: RM 200,000.00
  3. Minimum Tenure: 0 Month(s)
  4. Maximum Tenure: 120 Month(s)
  5. Minimum Age: 18 Years Old
  6. Maximum Age: 60 Years Old upon financing maturity
  7. Islamic Financing
  8. Special Requirements:


    • No Guarantor is Required

    • Minimum of three (3) months in service

    • Service in Public sector, GLC Companies and GLC Subsidiary
Fees and charges
  1. Stamp Duty: 0.5% of the financing amount
  2. Processing Fee: Wakalah or agency fee of RM28.30
  3. Late Payment Fee: 1% p.a. of amount in arrears
  4. Early Settlement Fee: Rebate (Ibra’) will be given on the deferred profit
  5. Handling Fee: None
  6. APR: %
Bank Rakyat Personal Financing-i for Pensioner

Bank Rakyat Personal Financing-i for Pensioner

Profit Rate: 6.38 %

( Effective Rate: 11.48% )

Monthly Payment: RM 220

(Total Repayment: RM 13,190)

Apply
More About This Product
  1. Minimum loan amount: RM 5,000.00
  2. Maximum loan amount: RM 100,000.00
  3. Minimum Tenure: 12 Month(s)
  4. Maximum Tenure: 120 Month(s)
  5. Minimum Age: 45 Years Old
  6. Maximum Age: 65 Years Old upon financing maturity
  7. Islamic Financing
  8. Special Requirements:


    • No Guarantor is Required

    • Takaful Insurance is Optional

    • Maximum amount of RM100,000 or  Maximum 15x your monthly gross pension.
Fees and charges
  1. Stamp Duty: 0.5% of the loan amount
  2. Processing Fee: Wakalah or agency fee of RM28.30
  3. Late Payment Fee: 1%p.a on the amount in arrears.
  4. Early Settlement Fee: Rebate (Ibra’) will be given on the deferred profit
  5. Handling Fee: None
  6. APR: %
YIR Personal Financing

YIR Personal Financing

Profit Rate: 6.65 %

( Effective Rate: 11.93% )

Monthly Payment: RM 223

(Total Repayment: RM 13,325)

Apply
More About This Product
  1. Minimum loan amount: RM3,000
  2. Maximum loan amount: RM250,000
  3. Minimum Tenure: 12 Month(s)
  4. Maximum Tenure: 120 Month(s)
  5. Minimum Age: 20 Years Old
  6. Maximum Age: 58 Years Old
  7. Islamic Financing
Fees and charges
  1. Stamp Duty: As per the Stamp Duty Act 1949

Showing 10 of 15 Packages

Frequently Asked Questions (FAQ)

A personal loan is an unsecured loan borrowed from a bank, credit union or online lender that you can use for any reason you have. Please be informed that you do not need any form of collateral for an unsecured loan. The tenure of the said loan can go up from 1 to 10 years and will have a set interest rate for a set amount of time. Repayment wise, you will have to pay monthly instalments, which will include the principal amount and the interest rate that is added. For more information about personal loan, click here. 

 

Secured loans Unsecured loans
  • Need collateral or security such as fixed deposit, property, unit trust, other assets
  • No collateral or security required
  • Guarantor is required, with or without an asset, depending on eligibility
  • No guarantor, except when you don’t meet the eligibility requirements

 

Conventional loans Islamic Loans
  • Follows the principle where bank earns profit by lending money.
  • Follows the Shariah contract of financing(riba)
  • Charges interest on loans
  • Charges profit rate on total financing
  • Can be used for any purpose under the law
  • Can be used for any purpose under Shariah law
  • Borrowers bear the whole risk
  • The bank bears some of the risk
  • Compound interest is added when the payment is overdue
  • Does not include compound profit

For more information about the difference between these loans, click here.

Interest rates in Malaysia are usually charged on a flat rate basis. The flat interest rate refers to the type where the interest is charged on the original amount, thus having nothing to do with what was paid initially. It depends on the lender what the interest rate is if you take a look at our calculator you can see which lender has the best interest rate for you. For more information on interest rates, click here.

It's possible but can be very hard to get a personal loan if you're unemployed because all the banks will request to provide proof of income. Usually, the best loan terms and rates are often reserved for customers with a good credit history, and for those in employment.

Generally, banks are reluctant to lend to students. This is because of several reasons: most students do not have a credit history yet so the bank does not know your history with repayments also there is no current income so there is no proof that the loan can be paid back on time and as they're unlikely to be employed any time soon so they may struggle to make repayments on time. To see which loans you can get as a student, click here.

 

A short-term loan is one which is scheduled to be repaid in less than a year and the interest rate for this type of loan will usually be higher than a long-term loan. 
 

Period Short  Long
Interest charge Low  High
Monthly installment High Low

There are several factors that decide how much you can borrow. The amount depends on the bank you are applying with but that’s not the only thing. Your salary and credit score are really important. But even if you have a high salary your application can still get rejected due to other existing debts or a poor payment record. For example, a late payment on a credit card debt. If you apply for multiple loans at once this can also result in a rejection because the bank might feel that you need money fast, this would be a risk for the bank. If your application is approved, it is not necessarily the amount you applied for, this can also be lower. You can talk with a representative from the bank if you are unhappy with the approved amount, to see where the issue is and to look at other options.

It is very easy to check your eligibility for an Islamic personal financing via Loanstreet! You can click here to apply.

It is very easy to check your eligibility for Government Personal Loans via Loanstreet! You can click here to apply.

We don't have a personal loan calculator, but we do have a comparison tool. When you go to the top of our personal loan page you can fill in a few of your details, and the comparison tool will filter which loans match your requirements.

When you are an expat it is not possible to apply for a personal loan. However you can apply for most creditcards on our website depending on the conditions of the bank. To see the credit cards we are offering, click here.

Just above the FAQ section there is a list with all the different kinds of personal loan that we offer. To apply, just choose the loan that you want and click on the green 'apply' button on the right.

You can definitely refinance you personal loan but please take in account the possibility of expenses like application fees and early payment fees. When you choose to refinance your loan make sure that the potential savings not become diminished due to these expenses. For more information about refinancing your personal loan, click here

The process of approval will usually take 1 - 2 weeks depending on the bank. RHB easy for example has an option for fast approval, which means your personal loan can be processed within 24 hours when you fill out more information.