Personal Loan Without Guarantor Malaysia: Get Approved Solo

What is a Loan Without Guarantor?

A personal loan without guarantor means you can borrow money based solely on your own income and creditworthiness, without needing a co-signer or third party to guarantee your loan.

Who Can Get Loans Without Guarantor?

• Good credit score (CTOS 650+)
• Stable employment (6+ months)
• Sufficient income (RM 2,000+)
• Low debt service ratio (below 60%)
• Clean credit history (no defaults)

Advantages of No Guarantor Loans

• Privacy: No need to involve family/friends
• Faster Approval: No guarantor verification needed
• Independence: Full control over your loan
• Less Documentation: Only your documents required
• No Relationship Strain: Avoid potential conflicts

Where to Get Loans Without Guarantor

1. Banks (Best for Good Credit)

• Rates: 5.5% - 14% p.a.
• Amount: Up to RM 100,000
• Requirements: Good credit, stable income

2. Licensed Money Lenders

• Rates: 4.88% - 18% p.a.
• Amount: RM 5,000 - RM 100,000
• Requirements: Flexible, faster approval

3. Digital Lenders

• Rates: 6% - 16% p.a.
• Amount: RM 1,000 - RM 50,000
• Requirements: Online application, minimal docs

Requirements for No Guarantor Loans

Essential Requirements

• Malaysian IC (21-60 years)
• Minimum income RM 2,000/month
• Latest 3 months payslips
• 3-6 months bank statements
• Employment verification

Credit Requirements

• CTOS score minimum 600-650
• No bankruptcies
• No recent defaults
• DSR below 60%

What If You Don't Qualify?

Options for Those Who Need Guarantors

• Build Credit First: Use credit cards responsibly for 6 months
• Reduce Existing Debt: Lower your DSR to qualify
• Increase Income: Get a raise or side income
• Consider Guarantor: If necessary, choose wisely

Tips to Strengthen Your Application

1. Check and improve credit score before applying
2. Reduce credit card balances
3. Stay in current job for at least 6 months
4. Apply for realistic loan amounts
5. Choose lenders that match your profile

Warning: Guarantor Responsibilities

If you eventually need a guarantor, understand both parties' responsibilities:

• Guarantor is equally liable for the loan
• Missed payments affect both credit scores
• Guarantor may need to repay if borrower defaults
• Legal action can be taken against guarantor