Looking for a personal loan in the George Town area? Check and offered by various banks in George Town and find out which one meets your requirement.
George Town, the capital city of Penang, offers the best of both worlds – from vibrant shopping malls to old school architecture and artwork. The city exudes a quaint vibe compared to Kuala Lumpur and is a perfect spot for travellers looking for a blissful respite from the hustles and bustles of city life.
A UNESCO World Heritage Site, George Town is replete with places having stunning landscapes and architectural delights. With over 12,000 old buildings, the city offers visitors a variety of scenic delights, including churches, temples, mosques, British colonial government monuments, to name a few.
There are quite a few banks in George Town that offer personal loans (both conventional and Islamic) to its customers. Here are some of the banks that offer such services:
|Banks||Interest/Profit Rates (p.a.)||Loan Tenure||Min. Yearly Income||Min – Max Loan Amount||More Info.|
|Bank Muamalat Personal Financing-i||-||3 to 10 years||-||RM5,000 to RM150,000||Click Here|
|UOB Personal Loan||EIR 17.96% to 21.57%||1 to 5 years||
||RM5,000 to RM100,000||Click Here|
|Hong Leong Bank Personal Loan||EIR 12.38% to 24.82%||2 to 7 years||RM24,000||RM5,000 to RM100,000||Click Here|
|Bank Islam Personal Financing-i||Up to 5.99%||1 to 10 years||RM24,000||RM10,000 to RM200,000||Click Here|
|HSBC Amanah Personal Financing-i||8.75%||2 to 7 years||RM36,000||RM6,000 to RM150,000||Click Here|
|Maybank Personal Loan||ELR 11.53% to 14.68%||2 to 6 years||RM30,000||RM5,000 to RM100,000||Click Here|
|RHB Personal Financing||13.45% up to EIR 24%||1 to 7 years||RM24,000||RM2,000 to RM150,000||Click Here|
|CIMB Cash Plus Personal Loan||ELR 14.50% to 24%||1 to 5 years||RM24,000||RM2,000 to RM100,000||Click Here|
|AmBank AmMoneyLine Personal Loan||EIR 14.13% to 20.30%||1 to 5 years||RM24,000||RM2,000 to RM100,000||Click Here|
|Al Rajhi Bank Personal Financing-i||6.99% to 8.25%||2 to 8 years||RM60,000||RM10,000 to RM150,000||Click Here|
|Standard Chartered Quick Cash Edge Personal Loan||Starts from 6.99%||1 to 7 years||RM24,000||Up to RM250,000||Click Here|
EIR = Effective Interest Rate
ELR = Effective Lending Rate
Are you looking to apply for a personal loan in the George Town area? Check out the interest rates and eligibility criteria across banks, compare and apply as per your convenience.
Q. Is it difficult to get a personal loan in George Town?
A. No, it’s not that difficult. If you have a good credit score and have all the documents in place, it shouldn’t be difficult to get a loan from the bank.
Q. What are the usual working hours for George Town-based banks?
A. It’s generally a 5-day work week for most of the banks. However, there are banks that remain open 6 days in a week. The working hours usually fall somewhere between 8:00 a.m. and 5:30 p.m. Most local banks stay closed from 12:45 p.m. to 2:45 p.m. on Fridays due to prayers.
Q. Which one will be better to choose in George Town - conventional personal loans or Islamic personal financing?
A. Both the variants come with their own set of benefits. Conventional personal loans charge an interest rate on the principal amount, whereas Islamic personal financing charge a profit rate for providing the facility.
Q. Is it necessary to apply online for a loan?
A. It’s not mandatory as you always have the option of applying offline, but the latter will save you a lot of time and paperwork.