Cash woes? A personal loan to the rescue!

    Personal Loan in Kuantan

    Looking for a personal loan in and the Kuantan region? Don’t worry, there are quite a few banks offering personal loan services in Kuantan.

    About Kuantan

    Kuantan is the capital of Pahang, Malaysia. The biggest city on the east coast of Peninsular Malaysia, Kuantan is home to some of the most popular beaches in Malaysia. The city exudes a quaint, serene vibe that attract tourists and travellers from all over the world.

    Some of the popular tourist attractions in Kuantan include, Panching Caves, Berkelah waterfall, Cherating Turtle Sanctuary, Teluk Chempedak beach, and Cherating beach, to name a few.

    List of Banks Offering Personal Loans in Kuantan

    • Bank Muamalat
    • CIMB Bank
    • Alliance Bank
    • RHB Bank
    • Affin Bank
    • Hong Leong Bank
    • Standard Chartered
    • Al Rajhi Bank
    • Bank Islam
    • Maybank
    • Public Bank
    • AmBank

    Eligibility Criteria

    • Nationality: You need to be a permanent resident of Kuantan or Malaysia. In case you are a foreign applicant, you need to have documents validating your work permit in the city.
    • Age Limit: Minimum age limit usually ranges from 18 to 21 years. Maximum age limit set by the banks is 65 years. However, this may vary from bank to bank.
    • Maximum Loan Amount: Most banks in Kuantan offer a maximum loan amount of RM150,000. Some banks may offer RM250,000 or more.
    • Collateral/Guarantor: Most banks don’t ask for collateral or guarantor. However, some banks do give out loans even if you have a poor credit record. But in such a case, they ask for a collateral or guarantor. A guarantor should be financially stable and have a good credit history. In most of the cases, unit trust funds and term deposits are held as collateral.
    • Documents Required: You need to submit your MyKad, permanent address proof, income proof, age proof, 3 months’ salary slips (latest), EPF contribution statement, etc.
    • Minimum Income Required: You need to have a minimum annual income of RM24,000 to qualify for a loan. However, this cap may vary from bank to bank. Some banks often keep the minimum annual income capped at RM36,000 or more.

    Compare Personal Loans in Kuantan for 2018

    Banks Interest/Profit Rates (p.a.) Loan Tenure Min. Annual Income Min. to Max. Loan Amount More Info.
    Bank Muamalat Personal Financing-i - 3 to 10 years - RM5,000 to RM150,000  
    CIMB Cash Plus Personal Loan ELR 14.50% to 24% 1 to 5 years RM24,000 RM2,000 to RM100,000  
    Alliance Cashfirst Personal Loan EIR 14.73% to 24.37% 1 to 7 years RM36,000 RM5,000 to RM150,000  
    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  
    Standard Chartered Quick Cash Edge Starts from 6.99% 1 to 7 years RM24,000 Up to RM250,000  
    Al Rajhi Bank Personal Financing-i 6.99% to 8.25% 2 to 8 years RM60,000 RM10,000 to RM150,000  
    Bank Islam Personal Financing-i Public Sector 4.99% p.a. 1 to 10 years RM24,000 RM10,000 to RM200,000  
    Maybank Personal Loan ELR 11.53% to 14.68% 2 to 6 years RM30,000 RM5,000 to RM100,000  
    AmBank AmMoneyLine EIR 14.13% to 20.30% 1 to 5 years RM24,000 RM100,000  

    EIR = Effective Interest Rate

    ELR = Effective Lending Rate


    Q. What are the modes of application?

    A. You can apply both online or offline. To apply online, you need to visit the bank’s website. Once you login, you can start filling up the required fields and submit the required documents. For offline application, you need to visit the bank personally, meet the representative, fill up the forms, and submit. Though you can use both, applying online saves you a lot of time and paperwork.

    Q. What are the operating hours for the banks based in Kuantan?

    A. It’s usually a 5-day work week for most of the banks. Some banks may stay open for 6 days. The usual working hours generally range between 8 a.m. and 5:30 p.m. Also, some local banks close down from 12:45 p.m. to 2:45 p.m. on Fridays due to prayers.

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