What is a Personal Loan in Malaysia?
A personal loan is an unsecured loan that provides you with a lump sum of money for any legitimate personal purpose. Unlike home loans or car loans, personal loans in Malaysia don't require collateral, making them accessible to a wider range of borrowers.
Key Features:
- Loan Amount: RM 1,000 to RM 100,000
- Interest Rates: From 4.88% to 18% per annum
- Loan Tenure: 12 months to 108 months (9 years)
- Approval Time: 2-3 hours for digital lenders
- Disbursement: Within 24 hours upon approval
Current Personal Loan Interest Rates 2025
| Lender Type | Interest Rate Range | Approval Time |
|---|---|---|
| Digital Lenders | 4.88% - 12% | 2-3 hours |
| Commercial Banks | 5.5% - 15% | 5-7 days |
| Licensed Money Lenders | 8% - 18% | 1-3 days |
*Rates as of January 2025. Actual rates depend on credit profile, income, and loan amount.
Personal Loan Eligibility Requirements
For Salaried Employees
- ✓ Malaysian citizen or PR
- ✓ Age: 21-65 years old
- ✓ Minimum monthly income: RM 1,500
- ✓ Employed for at least 3 months
- ✓ CTOS/CCRIS score: 650+
For Self-Employed
- ✓ Malaysian citizen or PR
- ✓ Age: 21-65 years old
- ✓ Minimum monthly income: RM 2,500
- ✓ Business operational for 6+ months
- ✓ Valid business registration (SSM)
How to Apply for Personal Loan
1
Check Your Eligibility
Use our loan calculator to determine how much you can borrow based on your income.
2
Prepare Documents
- Malaysian IC (front & back)
- Latest 3 months payslips
- 3-6 months bank statements
- EPF statement
- Employment letter
3
4
Get Approval in 2-3 Hours
Our automated system processes your application instantly. Most applications receive approval within 2-3 hours.
5
Receive Funds in 24 Hours
Upon approval, sign the digital loan agreement and receive funds directly to your bank account within 24 hours.
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Ready to Apply for Your Personal Loan?
Get approved in 2-3 hours with competitive rates from 4.88%