Personal loans are one of the best sources to get finance to fund personal expenditures. Personal loans are known for their high loan amounts, flexibility and quick approval. Most of the banks have no restriction on the utilization of personal loan amount and it can be used for any legal personal expenditure from a medical procedure to a wedding expenditure. There is no dearth of options for personal loans for people in Malaysia. Every Malaysian bank offers personal loans of different features and benefits.
Fast approval Personal Loans
There are a lot of banks in Malaysia that offer fast approval personal loans which are approved and granted within days of applying for the personal loan. Given below is a list of fast approval personal loan in Malaysia.
- Alliance Bank CashFirst Personal Loan-
- Hong Leon Mach IOU Personal Loan-
- Citibank Personal Loan -
- Al-Rajhi Personal Financing-i-
- Maybank Islamic Personal finance- Maybank Islamic Personal Finance is designed based on the Islamic law. The finance is approved quick given that the applicant meets the eligibility criteria and provides all the required documents correctly. There is no processing fee charged and no document stamping with this personal financing option.
- Am Islamic AmMoneyline Facility-i-
Alliance Bank CashFirst personal loan provides finance for personal and business expenditure. The loan comes with monthly installments which is as low as RM97. One of the best features of this personal loan is that there is no requirement of collateral, no early settlement penalty, no processing fee. The loan is approved quickly within a few days of application.
IOU personal loan by Hong Leon Mach is probably one of the few personal loan options that is approved in a matter of few hours. The loan boasts of a 60 minute approval for loan amounts up to RM50,000. The bank approves the loan as soon as it verifies all the documents submitted by the borrower. There is no collateral or guarantor required for the loan. The loan also offers 20% cashback rewards.
Citibank personal loan Malaysia tops the list of fast approval loan with a 30 minute loan approval. The loan comes at a really low rate of interest and there is no need for collateral or guarantor with the loan.The loan offers high loan amount up to 8 times the gross salary of the applicant. There is also no processing fee charged on the personal loan offered by Citibank.
Al-Rajhi bank has made banking easier for its customers with its quick approach and innovative methods. The bank officials will visit the applicant’s home or office to process their Al-Rajhi personal financing-i applications for the customer. The personal finance is approved quickly with no hassles. The finance option comes with long tenures and high loan amounts.
Am Islamic AmMoneyline Facility-i is a personal loan that is approved within 2 business days. The bank offers unsecured personal loan with a tenure of up to 8 years with this product. The loan comes with various benefits such as takaful protection and high loan amount.
How to apply for fast approval loans online?
The applicant can apply for fast approval loans online in Malaysia either through the bank’s official website or through a third party financial website. One can also compare between different loan options to find the personal loan with the fastest approval before applying for the loan.