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    Personal Loans in Kota Kinabalu

    Banks in Kota Kinabalu offer a variety of options when it comes to personal loans. These loans provide you with the financing you need. Compare interest/profit rates of various loan options to choose the one that best suits your needs.

    About Kota Kinabalu

    Kota Kinabalu, the capital city of Sabah (Malaysia), is known for its picturesque landscape and a thriving local art. The city is also known for its wide variety of culinary delights. A commercial hub, Kota Kinabalu is replete with swanky malls, local markets, high-end condos, and all that’s synonymous with the modern world.

    Some of the major attractions in and around Kota Kinabalu include, Sabah Museum, Signal Hill Observatory Platform, and Kota Kinabalu Wetland Centre, to name a few.

    List of Banks Offering Personal Loans in Kota Kinabalu

    • Bank Islam
    • UOB
    • Bank Muamalat
    • Bank Islam
    • RHB Bank
    • HSBC Bank
    • Hong Leong Bank
    • AmBank
    • Alliance Bank

    Eligibility Criteria

    Do you want to know whether you are eligible for Personal Loan? Banks have certain criteria set that you have to meet in order to qualify for a loan. Here are some of them:

    • Age Limit: The minimum age bracket ranges from 18 years to 21 years. The maximum age limit is usually set at 65 years, however this may vary from bank to bank.
    • Nationality: You have to be a permanent resident of Kota Kinabalu or Malaysia to apply for a personal loan. However, there are some banks that entertain foreign applicants as well.
    • Maximum Loan Amount: Most banks offer a maximum of RM150,000 in loan. However, this again may vary from bank to bank. Some banks do offer RM250,000 or more in loan.
    • Collaterals and Guarantors: Most banks don’t ask for a collateral or a guarantor unless you have a poor credit rating or low annual income. Generally, banks put up your unit trust funds or term deposits as security. In the case of a guarantor, he or she has to be financially stable with a good credit rating to qualify as one.
    • Documents Required: You need to provide your MyKad, latest 3 months’ salary slips, permanent address proof, EPF contribution statement, passport details (in case you are not a permanent resident), income proof, etc.
    • Minimum Income Required: You need to have a minimum annual income of RM24,000 to qualify for a personal loan. However, this depends entirely on the bank. Some banks may ask for an annual income of RM36,000 or more.

    Compare Personal Loans in Kota Kinabalu for 2018

    Banks Interest Rate or Profit Rate (p.a.) Loan Tenure Min. Annual Income Min. to Max. Loan Amount More Info.
    AmBank AmMoneyLine EIR 14.13% to 20.30% 1 to 5 years RM24,000 RM2,000 to RM100,000  
    CIMB Cash Plus Personal Loan ELR 14.50% to 24% 1 to 5 years RM24,000 RM2,000 to RM100,000  
    Standard Chartered Quick Cash Edge Starts from 6.99% 1 to 7 years RM24,000 Up to RM250,000  
    RHB Personal Financing 13.45% up to EIR 24% 1 to 7 years RM24,000 RM2,000 to RM150,000  
    Hong Leong Bank Personal Loan EIR 12.38% to 24.82% 2 to 7 years RM24,000 RM5,000 to RM100,000  
    Alliance Cashfirst Personal Loan EIR 14.73% to 24.37% 1 to 7 years RM36,000 RM5,000 to RM150,000  
    UOB Personal Loan EIR 17.96% to 21.57% 1 to 5 years
    • RM24,000 for salaried employee
    • RM36,000 for self-employed individuals
    RM5,000 to RM100,000  
    Bank Muamalat Personal Financing-i - 3 to 10 years - RM5,000 to RM150,000  

    ELR = Effective Lending Rate

    EIR = Effective Interest Rate

    Are you a resident of Kota Kinabalu and on the lookout for a personal loan? Compare personal loans offered by different banks and apply.

    FAQs

    Q. What are the usual working hours for banks in Kota Kinabalu?

    A. Most banks usually operate 5 days in a week. However, some banks may remain open on either Saturday or Sunday. The working hours usually vary between 8 a.m. and 5:30 p.m. Some local banks don’t operate on Friday from 12:45 p.m. to 2:45 p.m. due to prayers.

    Q. How can I apply for a personal loan in Kota Kinabalu?

    A. You can apply either online or offline. For online application, you need to visit the bank’s website, fill up the required fields, and hit the submit button once done. You can also submit the required documents online. The bank will contact you after checking the information you have provided. For offline application, you need to go to the bank and fill up the forms. Applying online is simpler and saves you a lot of time and paperwork.

    Q. How long does it take to get my personal loan approved in Kota Kinabalu?

    A. The timeline varies from bank to bank. Generally, it takes 2 to 3 business days for the bank to approve and disburse the loan amount. It might take some more time if there are discrepancies in your documents.

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