CIMB Cash Plus Personal Loan is a conventional financial product offered by CIMB Bank. This loan offers flexible repayment options and loan amounts starting from RM2,000.
|Loan Amount||Loan Tenure||Minimum Income||Interest Rate|
|From RM2,000 to whichever is lesser between RM100,000 or up to 8 times your monthly gross income||Up to 5 years||RM2,000 monthly (including basic and fixed income)||Effective Lending Rate (ELR) of 12.31% p.a. to 24.51% p.a. (based on your type of employment)||Fixed interest rate of 6.88% p.a. to 14.88% p.a. (based on type of employment)|
|Effective Rate||From 12.31% p.a. to 24.51% p.a.|
|Minimum Loan Amount||RM2,000|
|Maximum Loan Amount||RM100,000|
|Loan Tenure||Up to 5 years|
|Takaful/Insurance Coverage||Yes. Up to RM25,000|
The following are some of the additional benefits of CIMB Cash Plus Personal Loan:
|Stamp Duty Charges||RM10|
|Early Settlement Charges||Nil|
|Late Payment Charges||1% p.a. on instalment sum that is in arrears from the overdue date|
The following are the eligibility requirements for CIMB Finance:
|Nationality Criterion||Malaysian citizen
(Only individual applicants)
Minimum age: 21 years
Maximum age: 58 years
Minimum 6 consecutive months of completed employment is necessary for a salary earning applicant
For self-employed individuals, business should be active for more than 24 months
|Minimum Income Requirement||Fixed monthly income of RM2,000 (including basic and fixed income)|
|Guarantor/Collateral Requirement||Not required|
|Should I have a linked bank account?||NA|
The following documents are necessary to apply for the loan:
|Salaried Applicants||Fixed Income earner (basic only)||Variable Income Earner (including basic and allowances)|
|For applicants employed at:
|For other employers||
|Self-employed Applicants||Income Related Documents|
Q. I am a permanent employee for a private organisation. What is the maximum amount that I can borrow using this loan?
A. The maximum amount that you can borrow from the bank is 8x your monthly income or RM100,000 whichever is lesser.
Q. What happens after I have submitted the form and the required documents?
A. All the copies of your documents will be checked by CIMB and if you have provided all required documents and meet the eligibility criteria of the loan, your application will be verified and approved and the loan amount will be disbursed to your account.
Q. Do I need a guarantor for this personal loan?
A. No, you will not require a guarantor or provide any collateral to be eligible for this personal loan.
Q. Can I settle the amount before it matures? What charges do I have to bear in such cases?
A. The bank will not charge an early settlement fee if you choose to settle early. You will have to provide the bank with one month written notice in-case you choose to settle early.
Q. In case of the death of borrower before during the loan duration will the bank waive of any amount?
A. If the borrower dies during the repayment period the bank will waive off the remaining loan amount. The maximum amount that can be waived is RM25,000.