Cash woes? A personal loan to the rescue!
  • The Lowest Personal Loan Interest Rates

    When you are in need of some extra cash, obtaining a personal loan might be one of few options that come to mind. From an array of personal loan schemes offered by various banks, we are giving you a round-up of the ones which come with lowest interest rates. Have a look and choose the best suitable option for you.

    Personal Loan Schemes with Lowest Interest Rates

    AmBank Personal Financing-i

    The personal financing scheme is based on the principles of Islamic banking and operates on the Shariah concept of Bai' Inah. You do not need to present a guarantor or a collateral to obtain this loan/personal financing. You also do not require to make any advance instalments while obtaining the loan scheme. The loan scheme offers Ibra (rebate) when you make an early settlement of your financing amount. It also provides a takaful coverage that can benefit you in unfortunate circumstances.

    Profit Rate Offered:

    For public/government sector: Starts from 4.30% p.a.

    For private sector and government linked firms: 6.90% p.a.

    Eligibility Criteria:

    • Nationality criterion: Malaysian citizen and permanent resident of Malaysia

    Bank Rakyat Personal Financing-i

    The Shariah compliant home loan scheme works on the concepts on Tawarruq. The bank offers different profit rates to the individuals from government sector and private sector employees. Financing limit for a private sector applicant is up to RM150,000 and a government sector employee can get a financing amount of up to RM200,000. The financing scheme also comes with an optional Takaful cover facility.

    Profit Rate Offered:

    Flat rate of 3.26% p.a. - 6.53% p.a. for tenures of 1 to 10 years (for government sector)

    Flat rate of 4.95% p.a. - 9.37% p.a. for the tenures of 1 to 10 years (for private sector)

    Eligibility Criteria:

    • Nationality criterion: Malaysian citizen
    • Age criteria:
      • Minimum age: 18 years old
      • Maximum age: 60 years old at maturity of financing tenure
    • Income criteria (for private sector): Fixed monthly income of minimum RM2,000 (including allowances)
    • Income criteria (for public sector): Fixed monthly income of minimum RM1,000 (including allowances)
    • Confirmed employment (for private sector) and minimum 3 months of employment (for public sector)

    Standard Chartered CashOne

    Providing you with financial flexibility, the company offers a facility through which, each time you make your monthly repayment, the principal amount that has been paid by you will be converted into a credit card limit which you can utilise to meet other expenses. The scheme does not charge any processing fee or early settlement fee.

    Interest Rate Offered:

    0.583% per month (based on your tenures and approved loan amount)

    Eligibility Criteria:

    • Nationality criterion: Malaysian citizen
    • Age criteria: Minimum 21 years old

    Alliance CashFirst Personal Loan

    The loan is offered on a flat rate basis with a monthly instalment amount starting as low as RM94. You will also get flexible tenure options of up to 7 years. There is no requirement of a guarantor or collateral to obtain this personal loan. Alliance Bank does not charge any processing fee or early settlement fee for this type of personal loan. It also comes with fast approval times.

    Interest Rate Offered:

    8.38% p.a. (based on the loan amount of RM5,000 and a tenure of 7 years)

    Eligibility Criteria:

    • Nationality criterion: Malaysian citizen and permanent residents of Malaysia
    • Age criterion:
      • Minimum 21 years old
      • Maximum 60 years old (upon maturity of the tenure)
    • Income criterion: Minimum RM3,000 per month or RM36,000 p.a.

    HSBC Amanah Personal Financing-i

    This personal financing scheme is offered at a low monthly repayment of minimum RM134 and above. You can also obtain flexible financial tenures of up to 7 years. The loan scheme operates on the Shariah principle of Commodity Murabahah. The personal loan plan comes with fast approval and you do not need to provide a guarantor or collateral to obtain a loan.

    Profit Rate Offered:

    Flat rate starts from 10.5% p.a. for a financing amount between RM50,000 and RM150,000.

    11.5% p.a. for a financing amount between RM20,000 to RM49,500.

    12.5% p.a. for a financing amount between RM6,000 to RM19,5000.

    Eligibility Criteria:

    • Nationality criterion: Malaysian citizen or permanent resident of Malaysia
    • Age criteria:
      • Minimum age: 21 years
      • Maximum age: 60 years
    • Income criteria: RM3,000 per month or above

    With a range of personal loans available at low profit rates, selecting the right product for yourself becomes essential. You need to consider the eligibility criteria, the affordability of the loan and your capacity to repay the loan before opting for one.

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