Personal Loan
Personal Loans
Our Personal Loan service offers flexible financing to help you meet your personal goals and life milestones. Whether it’s for a big purchase or unexpected expense, we make borrowing simple and stress-free.
Enjoy competitive rates, easy repayment terms, and fast approvals through our quick, hassle-free application process—so you can access the funds you need without delay.
How do you apply
For a Personal Loan online?
Step 1
Contact our financial advisor to discuss your needs.
Step 2
Review and loan application processing (usually takes 1–3 business days).
Step 3
Get loan approval and next steps from your advisor.
FAQs
Personal Loans in Malaysia
A personal loan can help meet your short-term or emergency funding needs. It’s useful for managing unexpected expenses or consolidating other financial commitments, such as credit card debts, at potentially lower financing charges.
Keep in mind that personal loans aren’t always cheap and should be repaid on time with interest, but they can provide quick access to cash when needed.
A personal loan is an unsecured loan offered by banks, meaning you can borrow money without providing any collateral. However, it’s important to repay your loan on time to avoid late payment charges and any negative impact on your credit score.
Personal loans typically have a shorter repayment period than home loans — usually up to 10 years.
Unlike home or car loans, a personal loan can be used for any purpose — such as home renovations, starting a business, or handling medical emergencies.
That said, it’s best to borrow responsibly and ensure you can manage the repayments before applying.
Yes it will. If you meet your monthly commitments without fail, a personal loan can improve your credit score. However, if you miss your monthly payments it may also have a negative impact on your credit score.
When taking a personal loan, you may need to pay a one-time stamp duty and other bank charges. An early settlement fee may also apply if you choose to repay your loan ahead of schedule.
Rest assured, there are no fees or charges when submitting your loan application.
Yes, personal loans are ideal for consolidating existing debts, allowing you to combine multiple obligations into a single, manageable repayment.
Since most banks require proof of income, obtaining a personal loan without a job can be challenging. Even if your application is approved, the loan terms and interest rates may not be as favorable, as financial institutions typically offer better rates and conditions to employed individuals with a strong credit history.
In Malaysia, the minimum age to apply for a personal loan is 18. You must also have a stable source of income to qualify.
You are eligible for a personal loan if you meet the following criteria:
- Aged 18 or above
- Employed with at least 6 months of income proof (e.g., payslips and employment letter)
The minimum salary requirement for a personal loan depends on the lender and the loan amount. Generally, you should earn at least RM2,000 per month to be eligible to apply.
Generally, there are three basic requirements for applying for a personal loan in Malaysia:
- Age: Between 18 and 65 years old
- Citizenship: Must be a Malaysian citizen (some banks may allow exceptions for in-person applications)
- Financial standing: Must not be declared bankrupt
There are two main types of personal loans: secured and unsecured.
-
Secured Loans
A secured loan requires you to offer an asset, such as a car or house, as collateral.
- If you fail to repay the loan, the lender has the legal right to seize the asset.
- Larger loans, like home loans, may also require a guarantor.
-
Unsecured Loans
Unsecured loans do not require collateral. Instead, lenders assess your creditworthiness based on factors such as:
- Employment status
- Proof of income (minimum 6 months)
- Credit score
These factors also determine your loan amount, terms, and interest rate.