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  • Best Lowest Interest Rate Credit Cards

    A credit card offering low interest rates helps you to cut down on the costs that you pay as interest. With a low-interest rate credit card, you can save a considerable amount of money while making your purchases and transactions using the card. Take a look at some of the top credit cards listed below that offer you low interest rates in Malaysia.

    Here are the Best Low Interest Rate Credit Cards in Malaysia 2018

    Updated on 10th October 2018

    Card Name
    Interest Rate
    Interest-Free Period
    Annual Fee
    Know More

    8.88% p.a. to 14% p.a.

    (Interest Rate)

    20 days from the date of statement

    (Interest-Free Period)

    Waived for life for both principal and supplementary cards.

    (Annual Fee)

    Starting from 11% p.a. (for government servants) and 13.5% p.a. (for private sector employees) to 17.5% p.a.

    (Interest Rate)

    20 days from the posting date

    (Interest-Free Period)

    Principal card: RM777

    Supplementary card: RM333

    Waived if made a minimum of 12 transactions each year

    (Annual Fee)

    9.95% p.a. to 17.5% p.a.

    (Interest Rate)

    20 days from the date of statement

    (Interest-Free Period)

    Waived for life for both principal and supplementary cards.

    (Annual Fee)

    12% p.a. to 18% p.a.

    (Interest Rate)

    20 days from the date of statement

    (Interest-Free Period)

    RM600 for principal card.

    RM300 for supplementary card.

    (Annual Fee)

    *Effective 1 September 2018, Sales and Services Tax (SST) of RM25 will be imposed on the existing fee.

    BSN-1 Teachers Al Aiman Mastercard Gold

    The Shariah compliant card provides a number of privileges. It is made in collaboration between BSN and Yayasan Guru Malaysia Berhad (YGMB), and is designed for its teachers. By registering for the card, you shall get a BSN Zing PLUSMiles Card and make easy auto-reload payments.

    Key Benefits

    • Finance charges as low as 8.88%p.a.
    • No annual fees for life on both principal and supplementary cards.
    Additional Points Description
    How to Use It
    • Use the card to pay for retail, groceries, utilities, and other payments.
    • Get special discounts and privileges at selected merchants under BSN Happy Privileges.
    • Earn reward points under the BSN Happy Rewards Programme.
    • Repay at low interest rates.
    Good about It
    • Get up to 5 complimentary BSN Zing PLUSMiles cards and enjoy toll rebates and discounts.
    • Get a free membership registration to YGMB when you apply for this card.
    Keep in Mind
    • The card is available only to
    • teachers and employees employed under the Ministry of Education Malaysia, or in public  or private institutions of higher education approved by YGMB or those who are serving in MARA Junior Science College (MRSM).

    Who Should Get It

    • If you shop regularly.
    • If you are looking for reward point offers on various transactions.

    Bank Islam Visa Infinite Credit Card-i

    WThis Islamic credit card is ideal for daily use and comes with a low profit rate for your retail purchases.

    Key Benefits

    • Earn 1 Truepoint on your every retail transaction worth RM1.
    • Enjoy 3x free access to Airport Independent Lounge at the selected Premium Lounge Network in Singapore and Malaysia.
    • Get an annual fee waiver if you make 12 transactions in a year.
    • Enjoy free travel takaful cover of up to RM2 million on the card.
    • Get a takaful cover of up to RM100,000 on your outstanding balances and funeral expenses.
    • Get personalised assistance about card services with the 24/7 Customer Service and Visa Concierge Service.
    Additional Points Description
    How to Use It
    • Charge your full flight ticket to the card to enjoy the travel takaful cover.
    • Use this card to obtain an instalment payment plan (IPP) at participating merchants with tenures ranging up to 36 months.
    Good about It
    • The complimentary travel takaful cover is also applicable for your travel inconveniences, such as luggage loss, luggage delay, missed flight connection, flight delay, etc.
    • No compounding finance charges are applied on the card.
    • You can enjoy 40% savings on will writing charges.
    • 24/7 assistance with Visa Global Services.
    Keep in Mind
    • Your entry age needs to be between 17 years and 64 years to obtain the complimentary takaful cover.
    • You can get a financing limit of up to 3 times your monthly salary.

    Who Should Get It

    • Those who travel frequently.

    BSN-UUM Al-Aiman Mastercard Gold Credit Card

    The card is meant for University Utara Malaysia community. The card provides great rewards and exclusive privileges when you make transactions with the card. Let’s look at some of the benefits offered with the card.

    Key Benefits

    • No annual fees for both principal and supplementary cards.
    • Interest rate on outstanding payments as low as 9.95%p.a.
    • Get 2x Happy Points with overseas expenses, and 1x with local expenses.
    • Enjoy the benefits of contactless payments with the BSN-Zing PLUSMiles Card.
    Additional Points Description
    How to Use It
    • Use the card to make retail, utility, and other payments.
    • Enjoy low interest rates on the outstanding payments.
    Good about It
    • Worldwide acceptance with 29 million merchants and 1 million ATMs enabled with Mastercard.
    • Pay an upfront fee and enjoy an instalment plan of 6,12, or 24 months with 0% interest.
    • Enjoy travel insurance of up to RM500,000 with the card.
    Keep in Mind
    • This card is applicable only for students and ex-students from the University Utara Malaysia.
    • The credit limit of the card shall be assessed from the income level of the applicant.

    Who Should Get It

    • If you shop regularly.
    • If you travel overseas often.

    AFFINBANK World Mastercard

    The card offers various benefits, such as reward points, air miles, complimentary lounge access, among others. The card allows the benefit of payment with different plans. Read on to know more about the different features of the card.

    Key Benefits

    • Interest rate of as low as 12% p.a.
    • Enjoy 3x AFFIN Rewards Points on retail expenses.
    • Travel safe with a complimentary travel insurance of up to RM100,000.
    • Enjoy contactless payments of up to RM250 with the card.
    • No replacement card charges in the case of card loss or theft.
    Additional Points Description
    How to Use It
    • Use the card for your retail expenses and travel bookings.
    • Earn AFFIN Rewards Points on retail transactions.
    • Get a complimentary travel insurance of up to RM100,000.
    Good about It
    • Enjoy complimentary lounge access to airports with Plaza Premium Lounges in Malaysia, Indonesia, Cambodia, Philippines, Singapore, Saudi Arabia, and Taiwan.
    • Get easy repayment options such as Balance Transfer Programme, Easy Instalment Plan, Cash-on-Call Instalment Plan, and Easy Payment Plans.
    • Enjoy cash withdrawals of up to 70% of the available credit limit.
    Keep in Mind
    • 12% p.a. interest rate includes deduction on finance charge rebates.
    • The minimum annual income required is RM80,000 p.a.

    Who Should Get It

    • If you are looking for great offers and rebates on your transactions.
    • If you are a frequent flyer.

    How to Choose the Best Low Interest Rate Credit Card

    Credit cards that offer low-interest rates are quite beneficial to build your credit score and save money on any payable interest. Since few cards have exclusive requirements to be eligible, read through all the terms before you apply for a card.

    Review

    Among the low interest cards given above, the AFFINBANK World Mastercard offers a good rate of interest of as low as 12%p.a, and does not cater to one particular category like the other cards. For an all-purpose card, the AFFINBANK World Mastercard provides the lowest interest rates.  You can also earn reward points on transactions and enjoy complimentary lounge access when booking flight tickets with the card.

    If you are interested in other types of cards, check the best petrol credit cards and the best shopping credit cards.

    BBazaar's Best Low Interest Rate Credit Cards of 2018

    Use this guide to compare and choose the card that is best suited to you. Make sure you read all terms and conditions pertaining to the card before opting for one. Identify your preferred spending category and budget to pick a card that will meet your financial needs. This table below will explain the categories that each individual card is ideal for. Utilize this table when comparing cards to choose the best card for yourself.

    Credit Card Interest Rate
    BSN-1 Teachers Al-Aiman Mastercard Gold 8.88% p.a. to 14% p.a.
    Bank Islam Visa Infinite Credit Card-i Starting from 11% p.a. (for government servants) and 13.5% p.a. (for private sector employees) to 17.5% p.a.
    BSN-UUM Al-Aiman Mastercard Gold Credit Card 9.95% p.a. to 17.5% p.a.
    AFFINBANK World Mastercard 12% p.a. to 18% p.a.

    Looking for More

    Pick Up the Other Best Credit Card Category You May Like

    FAQs on Lowest Interest Rate Credit Cards

    Q. How can I reduce my applicable interest rates on my credit card?

    A. Bank Negara Malaysia has regulated tiered interest rates on Malaysian credit cards. Tier 1 offers you the lowest possible interest rates if you settle your minimum payments promptly for a successive period of 12 months. Hence, to pay a low interest-rate, you should make your payments within the set deadline.

    Q. Can I apply for a low interest credit card online?

    A. Most banks in Malaysia provide an online application facility for a credit card. You can go to the official website of the bank of your choice and fill in the online application form. You will get a call from the a bank representative who will help you to apply for a card.

    Q. If I have a low interest credit card, can I apply for a balance transfer plan on the same card?

    A. Yes, you can enrol for a balance transfer plan on your credit card. You are advised to check the offered interest rates for the balance transfer facility before obtaining the plan.

    Q. Will a bank check my credit score before granting me a credit card with lower interest rates?

    A. Yes. Any bank will assess your credit score whenever you apply for a credit card irrespective of the type of credit card you are selecting.

    Q. Can I get a supplementary credit card for an individual who is less than 21 years old?

    A. Yes. A supplementary credit card is usually given to an individual who is minimum 18 years old. Check with the bank for terms and conditions related to supplementary cards before you opt for one.

    If you are looking for a credit card that you can obtain even with a low income, these details about various cards offered by top banks in Malaysia will help you to make a better choice. If you are interested in other cards, check the best no annual fee cards or the best balance transfer cards.

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