Bank Loan Malaysia 2025: Complete Bank Comparison

Top Banks for Personal Loans in Malaysia

1. Maybank Personal Loan

• Interest Rate: 5.99% - 13.88% p.a.
• Loan Amount: Up to RM 150,000
• Tenure: 1-10 years
• Processing Fee: 1% of loan amount
• Best For: Existing Maybank customers

2. CIMB Bank Personal Loan

• Interest Rate: 5.65% - 14.5% p.a.
• Loan Amount: Up to RM 200,000
• Tenure: 1-10 years
• Processing Fee: 0.5% - 1%
• Best For: High income earners

3. Public Bank Personal Loan

• Interest Rate: 5.5% - 13.5% p.a.
• Loan Amount: Up to RM 150,000
• Tenure: 1-10 years
• Processing Fee: 0.5%
• Best For: Government servants

4. Hong Leong Bank

• Interest Rate: 6.28% - 14.28% p.a.
• Loan Amount: Up to RM 100,000
• Tenure: 1-7 years
• Processing Fee: 1%
• Best For: Quick approval (6-8 hours)

5. RHB Bank

• Interest Rate: 5.99% - 14.99% p.a.
• Loan Amount: Up to RM 150,000
• Tenure: 1-10 years
• Processing Fee: 0.5% - 1%
• Best For: Balance transfer options

Bank Loan vs Licensed Money Lender

Bank Loans Advantages

• Lower interest rates (5.5% - 14%)
• Larger loan amounts (up to RM 200,000)
• Longer repayment periods (up to 10 years)
• Established reputation and trust
• Better for long-term financing

Bank Loans Disadvantages

• Stricter eligibility requirements
• Slower approval (3-7 days)
• More documentation required
• May reject bad credit applicants
• Branch visits may be required

How to Apply for Bank Loans

Online Application

1. Visit bank's website or mobile app
2. Login with online banking credentials
3. Fill application form
4. Upload required documents
5. Wait for approval (1-3 days)

Branch Application

1. Visit nearest branch
2. Meet with loan officer
3. Submit documents in person
4. Get on-the-spot assessment
5. Receive decision within 24-48 hours

Bank Loan Requirements

Basic Eligibility

• Malaysian citizen or PR
• Age 21-60 years (max 65 at loan maturity)
• Minimum income RM 2,000 - RM 3,000
• At least 6 months employment
• Good credit score (CTOS 650+)

Required Documents

• Malaysian IC
• Latest 3 months payslips
• 6 months bank statements
• EPF statement
• Employment confirmation letter
• Latest income tax form (EA/BE)

Tips to Get Best Bank Loan Rates

1. Maintain Banking Relationship: Existing customers get better rates
2. Negotiate: Don't accept first offer, ask for rate reduction
3. Compare Multiple Banks: Rates can vary by 2-5%
4. Improve Credit Score: CTOS 750+ qualifies for lowest rates
5. Time Your Application: Apply during promotional periods