Banks in Malacca City offer a variety of options when it comes to personal loans. Compare interest/profit rates and apply as per your convenience.
The city of Malacca is one of the most popular tourist destinations in Malaysia. Recognised by UNESCO as a World Heritage Site, the city is replete with historical buildings and monuments. Malacca is also home to quite a few fun attractions where you can go to have a good time. You can take a boat ride from St. Francis Xavier's Church and explore Malacca as well.
Other major attractions in Malacca include, Jonker Street, St. Paul’s Church, Cheng Hoon Teng Temple, Bukit China, and Kampung Keling Mosque, to name a few.
There are plenty of banks offering personal loan facilities in and around Malacca. Here are some of them:
Here are some the basic criteria you need to meet in order to eligible for a personal loan:
|Banks||Interest/Profit Rates (p.a.)||Loan Tenure||Min. Annual Income||Min. to Max. Loan Amount||More Info.|
|Citibank Personal Loan||7.9% to 12.5%||2 to 5 years||RM48,000||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|
|UOB Personal Loan||EIR 17.96% to 21.57%||1 to 5 years||
||RM5,000 to RM100,000|
|Maybank Personal Loan||ELR 11.53% to 14.68%||2 to 6 years||RM30,000||RM5,000 to RM100,000|
|CIMB Cash Plus Personal Loan||ELR 14.50% to 24%||1 to 5 years||RM24,000||RM2,000 to RM100,000|
|Bank Muamalat Personal Financing-i||-||3 to 10 years||-||RM5,000 to RM150,000|
|AmBank AmMoneyLine||EIR 14.13% to 20.30%||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|
|Al Rajhi Bank Personal Financing-i||6.99% to 8.25%||2 to 8 years||RM60,000||M10,000 to RM150,000|
|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|
ELR = Effective Lending Rate
EIR = Effective Interest Rate
So, if you are in Malacca and on the lookout for a personal loan, you might want to compare the aforementioned interest/profit rates and apply as per your convenience.
Q. What are the working hours for the banks in Malacca City?
A. Like most Malaysian banks, Malacca also follows a 5-day workweek system. However, some banks may remain open on the weekends. The working hours are usually between 8 a.m. and 5:30 p.m. Also, keep in mind that some banks don’t operate on Fridays from 12:45 p.m. to 2:45 p.m. due to prayers.
Q. What are the different modes of loan application available?
A. You can apply both online or offline. Online application is an easier mode to go with than its counterpart because you can apply at the convenience of your home. Just fill in the required fields and submit scanned copy of your documents. Applying online helps you save a lot of time and paperwork.
Q. How long will it take to get my personal loan approved?
A. Most banks usually take 2 to 3 business days to approve and disburse the loan amount. It might take some more time in case of discrepancies in documentation.
Q. When can a bank reject my application?
A. Banks can reject your application if: