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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.

BBazaar's Best Low Interest Rate Credit Cards of 2018

Updated on 10th December 2018

Credit Card Interest Rate
AFFINBANK World Mastercard Credit Card 12% p.a. to 18% p.a.
BSN-UUM Al-Aiman Mastercard Gold Credit Card 9.95% p.a. to 17.5% p.a.
Alliance Bank You:nique Rates Card 9% to 18% p.a.
Bank Rakyat Muslimah Card-i

13.5% p.a. to 17% p.a.

AmBank TRUE VISA Credit Card

7.99% p.a. to 18% p.a.

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

Updated on 10th December 2018

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

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

(Interest Rate)

20 days from the date of the statement.

(Interest-Free Period)

Waived for the first year.

Subsequently,

Principal card: RM500.

Supplementary card: RM400.

(waived on a minimum spend of RM48,000 p.a. or on 12 retail transactions in a year.)

(Annual Fee)

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

(Interest Rate)

20 days from the date of the statement.

(Interest-Free Period)

Waived for life for both principal and supplementary cards.

(Annual Fee)

9% to 18% p.a.

(Interest Rate)

20 days from the date of statement.

(Interest-Free Period)

Principal card: RM148.

Supplementary card: RM30.

(Annual Fee)

13.5% p.a. to 17% p.a.

(Interest Rate)

20 days from the date of the statement.

(Interest-Free Period)

Waived for life.

(Annual Fee)

7.99% p.a. to 18% p.a

(Interest Rate)

20 days from the date of statement.

(Interest-Free Period)

Principal card: No charges.

Supplementary card: Waived for the first three cards.

(Annual Fee)

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

AFFINBANK World Mastercard Credit Card

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

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

(Interest Rate)

20 days from the date of the statement.

(Interest-Free Period)

Waived for the first year.

Subsequently,

Principal card: RM500.

Supplementary card: RM400.

(waived on a minimum spend of RM48,000 p.a. or on 12 retail transactions in a year.)

(Annual Fee)

AFFINBANK World Mastercard offers various privileges, such as reward points, conversion to air miles, complimentary lounge access, etc. It comes with an annual fee waiver for the first year. You can also get the waiver for subsequent years if you meet the set criteria. Personal accident insurance and golf privileges are some of the other benefits offered on the card.

Key Benefits

  • Enjoy interest rates as low as 12% p.a.
  • Earn 3x AFFIN Rewards Points on every RM1 spent on overseas retail purchases.
  • Earn 1x AFFIN Rewards Points for every RM1 spent locally.
  • Get a complimentary personal accident insurance of up to RM1 million.
  • Make contactless payments of up to RM250 with the card.
  • No replacement card charges in the case of card loss or theft for the first time.
Additional Points Description
How to Use It
  • Use the card for your retail expenses and travel bookings.
  • Use the card to convert your AFFIN Reward Points to AirAsia BIG Points, Enrich Miles, and/or Malindo Miles.
  • Make retail transactions on the card to earn AFFIN Rewards Points.
  • Use this card to charge your airfare so that you can get a complimentary travel insurance worth RM1 million.
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 with plans like 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.
  • You can redeem complimentary flights.
  • Tee-off with complimentary green fees at golf courses in Malaysia and Indonesia.
Keep in Mind
  • 12% p.a. interest rate includes deduction on finance charge rebates.
  • The minimum annual income required to get this card 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.

BSN-UUM Al-Aiman Mastercard Gold Credit Card

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

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

(Interest Rate)

20 days from the date of the statement.

(Interest-Free Period)

Waived for life for both principal and supplementary cards.

(Annual Fee)

This card is designed for the University Utara Malaysia community. It provides great rewards and exclusive privileges when you make transactions. Let’s find out more about this Shariah-compliant credit card.

Key Benefits

  • Annual fee waiver for life for both principal and supplementary cards.
  • Management fee on outstanding payments is as low as 9.95%p.a.
  • Earn 2x Happy Points for overseas expenses, and 1x Happy Points for 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
  • You can contribute 0.3% of your retail card spending to UUM for supporting various activities.
  • You can protect your family from debt via BSN Al-Aiman Credit Shield.
  • Pay an upfront fee and enjoy an instalment plan of 6,12, or 24 months with 0% interest.
  • Enjoy a travel insurance cover of up to RM500,000 with this 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

  • Those who use a card often for shopping or other transactions.

Alliance Bank You:nique Rates Card

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

9% to 18% p.a.

(Interest Rate)

20 days from the date of statement.

(Interest-Free Period)

Principal card: RM148.

Supplementary card: RM30.

(Annual Fee)

Alliance Bank You:nique Rates Card comes with a low-interest rate of just 9% p.a. You also have the option to personalize it with your picture or any other image of your choice!

Key Benefits

  • Enjoy a low-interest rate of just 9% p.a. on your credit card balance.
  • Continue to make your credit card payment on time and enjoy the same low-interest rate.
  • Customise your card with your picture or any other image of your choice.
  • When it’s time to renew your card, you have the option to change the image.
Additional Points Description
How to Use It
  • Use your Alliance Bank You:nique Rates Card to carry out retail transactions.
  • Make your credit card payment on time and enjoy a low retail interest rate.
Good about It
  • The annual fee of this card is waived for the first three years.
  • The minimum income requirement is just RM24,000 p.a.
  • Not just the principal cardholder, the supplementary cardholder can also customise their card.
Keep in Mind
  • This is a basic credit card. You don’t get any rewards or cashback when you carry out transactions using this card.
  • You need to make your credit card payment on time, else you could be charged up to 18% p.a. depending on your payment history.

Who Should Get It

  • Those who want a credit card that comes with a low-interest rate.
  • Those who make their credit card payment promptly.

Bank Rakyat Muslimah Card-i

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

13.5% p.a. to 17% p.a.

(Interest Rate)

20 days from the date of the statement.

(Interest-Free Period)

Waived for life.

(Annual Fee)

This credit card designed exclusively for the women in Malaysia. It comes with an annual fee waiver for life and also offers special discounts and privileges at various participating merchants. It is the only Shariah-compliant credit card offered for women in the country.

Key Benefits

  • The card comes with an annual fee waiver for life.
  • Get free family Takaful cover and RM10,000 worth of death benefits. The Takaful cover is offered on your outstanding balance.
  • Enjoy discounts of up to 10% at participating merchants.
Additional Points Description
How to Use It
  • Use the card for a flexi payment facility and get a tenure ranging up to 24 months.
  • Use the card to enjoy zero markup fee on your overseas transactions.
  • Use it for purchases at selected merchants to get discounts.
  • Mastercard discounts and promotions are also available on the card.
Good about It
  • As a cardholder, you can attend exclusive activities that include gourmet classes, grooming workshops, etc.
  • The card also offers special campaigns for Muslimah cardholders.
  • Non-Muslim applicants can also get this card.
Keep in Mind
  • For a non-Muslim cardholder, transactions at non-halal merchant counters will be blocked.
  • Visit the official website of the bank to check the list of participating merchants that offer discounts.

Who Should Get It

  • Those who use a card regularly for retail transactions.

AmBank TRUE VISA Credit Card

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

7.99% p.a. to 18% p.a

(Interest Rate)

20 days from the date of statement.

(Interest-Free Period)

Principal card: No charges.

Supplementary card: Waived for the first three cards.

(Annual Fee)

AmBank TRUE VISA Credit Card is ideal for those who shop online regularly. The card also comes with an excess limit service facility, giving you the option to spend more than your credit limit. This card comes with a very low retail interest rate of 7.99% p.a.

Key Benefits

  • The retail interest rate of this card is as low as 7.99% p.a.
  • Get 3% cash rebate when you shop online.
  • Use the Excess Limit Service facility if you want to spend more than the available credit limit.
  • Enjoy interest-free instalment payments on a range of products using the Easy Payment Plan.
  • Use the AutoBillPay facility to make utility bill and insurance premium payments.
  • New cardholders can enjoy 0% balance transfer facility for up to 1 year.
Additional Points Description
How to Use It
  • Use your AmBank TRUE VISA Credit Card for carrying out online transactions to earn cashback.
Good about It
  • You get cashback whenever you shop online.
  • The minimum income requirement of the card is just RM36,000 p.a.
Keep in Mind
  • The cash rebate earned for online purchases is capped at RM30 per month.
  • You won’t earn cashback when you carry out retail transactions.

Who Should Get It

  • Those who shop online.
  • Those who are looking for a credit card that comes with a low-interest rate.

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

AFFINBANK World Mastercard Credit Card

Among all the low-interest cards mentioned above, AFFINBANK World Mastercard offers a good rate of interest at 12% p.a. for your retails purchases. It is a good low-interest card that provides a number of other benefits too. You can earn reward points, and enjoy benefits like golf privileges, complimentary lounge access, travel insurance, emergency card replacement, etc. You can consider this card if you are looking for an all-in-one card with a low interest rate.

You can also compare various best credit cards for low-income earners in Malaysia to find the best one for you.

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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