Are you looking for the best personal loans in Malaysia?
Those who have financial problems or want to expand their business have the option of making a loan at a bank or at a licensed private lender in our country, Malaysia.
Therefore, we want to make it easier for you to find the banks that offer the best personal loans for you to contact and solve your financial problems.
This list is the best list that has a low-interest rate and has the best customer service in our country.
We are very proud if you can solve your financial problems from the companies or banks we have listed below.
Do I need to apply for a personal loan?
Everyone has a goal to achieve in their life and oftentimes, they need money to start the journey.
We can earn money in any possible way such as through employment, selling products or services, personal savings, as well as loans.
Some people are lucky enough to finance their goals with one or more combinations of the above methods.
But what about others who have limited options or whose limited options are not viable?
Often, they avoid the last resort, a loan.
If we look objectively, applying for a personal loan is practical for several reasons:
- Education
- Investment
- Emergency cash
- Financing for business
- Buy real estate (house, car, appliances, etc.)
- Debt consolidation
Best Personal Loans in Malaysia
| Best Personal Loans in Malaysia Bank | Interest/Profit Rate | Minimum Monthly Income | Loan/Financing Amount | Borrowing Period | Can Government/GLC apply? |
| 1. Alliance Bank | 4.99% – 15.28% p.a. | RM3,000 | RM5,000 – RM200,000 | 12 – 84 months | Yes |
| 2. RHB Personal Financing | 8.59% – 13.76% p.a. | RM1,500 | RM2,000 – RM150,000 | 12 – 84 months | No |
| 3. Al Rajhi Bank | 6.20% – 8.39% p.a. | RM5,000 | RM10,000 – RM250,000 | 12 – 96 months | Yes |
| 4. CIMB | 5.88% – 14.88% p.a. | RM2,000 | RM2,000 – RM100,000 | 24 – 60 months | No |
| 5. Citibank | 5.33% – 9.80% p.a. | RM4,000 | RM5,000 – RM150,000 | 24 – 60 months | No |
| 6. Standard Chartered | 7.20% p.a. | RM3,000 | RM3,000 – RM250,000 | 12 – 60 months | No |
| 7. BSN | 6% – 8.50% p.a. | RM3,000 | RM5,000 – RM400,000 | 24 – 120 months | Yes |
| 8. Maybank Islamic | 6.50% – 8% p.a. | RM3,500 | RM5,000 – RM100,000 | 24 – 72 months | Yes |
| 9. KFH | 6.88% p.a. | RM3,000 | RM5,000 – RM150,000 | 24 – 96 months | No |
| 10. Hong Leong Islamic Bank | 9% – 12.50% p.a. | RM2,000 | RM5,000 – RM150,000 | 24 – 60 months | No |
| 11. Bank Islam | 4.50% – 6.50% p.a. | RM4,000 | RM10,000 – RM150,000 | 12 – 120 months | No |
| 12. AEON Credit Service | 7.92% – 18% p.a. | RM1,500 | RM1,000 – RM100,000 | 6 – 84 months | Yes |
| 13. HSBC Amanah | 4.88% – 10.50% p.a. | RM5,000 | RM6,000 – RM250,000 | 24 – 84 months | No |
| 14. AmBank | 8% – 11.99% p.a. | RM3,000 | RM2,000 – RM150,000 | 12 – 60 months | Yes |
| 15. UOB | 9.99% – 11.99% p.a. | RM2,000 | RM5,000 – RM100,000 | 12 – 60 months | Yes |
Best Personal Loans in Malaysia – When should you apply for a personal loan?
In fact, there is no better time to apply for a personal loan than when you are not ready for it.
In this article, you will find out the dos and don’ts for personal loan applications based on the experiences and best practices of ordinary Malaysians.
Read on to find out what a personal loan is, how you can apply for a personal loan at the lowest rate and highest amount, and what you need to do after the loan is approved or rejected.
Best Personal Loans in Malaysia – Research stage
At this stage, you will find various answers to questions you may have about personal loans, and how you can use this information to make an informed decision.
Best Personal Loans in Malaysia – How do personal loans work?
In short, a personal loan is a sum of money with interest that is lent by a bank to a borrower for a fixed period. The loan must be repaid in fixed monthly installments until the end of the term.
It’s pretty easy until you come across some terms and jargon that you’re not familiar with.