Cash woes? A personal loan to the rescue!

    Personal Loans in Kuching

    How to get personal loans in Kuching? Which banks in Kuching offer the best interest rates? Read, compare, and apply.

    About Kuching

    Kuching, the capital city of Sarawak, is built on rich culture and heritage. The city offers visitors a glimpse of its unique concoction of old world charm and modern day delights.

    The city has a mix of Chinese and Malay population that adds to its diverse culture. Some of the popular sightseeing attractions in Kuching include, Sarawak Museum, Chinatown, Waterfront, Astana, State Mosque, to name a few. There are also quite a few mesmerising national parks and sanctuaries spread across the city of Kuching.

    List of Banks Offering Personal Loans in Kuching

    • Alliance Bank
    • Hong Leong Bank
    • Affin Bank
    • RHB Bank
    • CIMB Bank
    • Al Rajhi Bank
    • HSBC Amanah
    • UOB
    • Bank Islam
    • AmBank
    • Maybank

    Eligibility Criteria and Other Details

    Are you eligible for a personal loan in Kuching? Let’s check some of the basic eligibility criteria that you need to meet to get a loan.

    • Age Limit: You need to be between 18 and 21 years of age to apply for a loan. The maximum age limit is usually fixed at 65 years. However, this might vary from bank to bank as each bank has its own set of rules and regulations.
    • Nationality: You need to be a permanent resident of Sarawak or Malaysia. However, some banks do offer personal loan facilities to foreigners. You have to provide your work permit or permanent employee proof if you are a foreigner working in Kuching,
    • Maximum Loan Amount: Most banks keep the minimum loan amount at RM2,000 and the maximum loan amount at RM150,000. However, this again may vary from bank to bank as some banks do offer loans up to RM250,000 or more.
    • Collaterals and Guarantors: Most banks in Kuching don’t ask for a collateral or guarantor. However, if you have a poor credit rating or low annual income, some banks might consider giving you a loan against a collateral. Generally, your unit trust funds or term deposits are held as security against the loan. The guarantor has to be financially stable and should have a good credit rating to sign the dotted line.
    • Documents Required: Most banks ask for your MyKad, permanent address proof, latest 3 months’ salary slips, permanent address proof, EPF statement, income proof, etc.
    • Minimum Income Required: You need to have a minimum monthly income of RM2,000 or RM24,000 annually. However, this again may differ from bank to bank as some banks may keep the minimum amount requirement criterion at RM36,000 or more.

    Compare Personal Loans in Kuching for 2018

    Banks Interest/Profit Rates (p.a.) Loan Tenure Min. Annual Income Min. to Max. Loan Amount More Info.
    Alliance Cashfirst Personal Loan EIR 14.73% to 24.37% 1 to 7 years RM36,000 RM5,000 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  
    RHB Personal Financing 13.45% up to EIR 24% 1 to 7 years RM24,000 RM2,000 to RM150,000  
    CIMB Cash Plus Personal Loan ELR 14.50% to 24% 1 to 5 years RM24,000 RM2,000 to RM100,000  
    HSBC Amanah Personal Financing-i 8.75% 2 to 7 years RM36,000 RM6,000 to RM150,000  
    Al Rajhi Bank Personal Financing-i 6.99% to 8.25% 2 to 8 years RM60,000 RM10,000 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  
    AmBank AmMoneyLine EIR 14.13% to 20.30% 1 to 5 years RM24,000 RM2,000 to RM100,000  
    Maybank Personal Loan ELR 11.53% to 14.68% 2 to 6 years RM30,000 RM5,000 to RM100,000  
    Bank Islam Personal Financing-i Public Sector 4.99% p.a. 1 to 10 years RM24,000 RM10,000 to RM200,000  

    EIR = Effective Interest Rate

    ELR = Effective Lending Rate


    Q. What are different modes of application?

    A. You can apply both online or offline. Applying online is more feasible because you can complete your application at the convenience of your home or workplace. It also helps save a lot of time and paperwork.

    Q. What are the working hours for banks based in Kuching?

    A. It’s no different from banks operating from other Malaysian cities. It’s mostly a 5-day work week, though some banks to remain open for 6 days. Generally, the working hours are between 8 a.m. and 5:30 p.m. Some local banks close down from 12:45 p.m. to 2:45 p.m. on Fridays due to prayers.

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