• Personal Loan Interest Rates 2016

    Loans for resident or non-resident Malaysian citizens are aimed to bring in ease of use and lesser financial rifts when concerning meeting personal, professional or business goals. While home loans, car loans and business loans are meant to be used for specific purposes only, personal loans fall in the singular gamut of offerings from banks that can be used for any purpose which is not explicitly speculative. Be it a wedding, a short vacation, some really great gift or timely repairs to the house, personal loans can come to a much needed rescue.

    Rates for Personal Loans in 2016

    There are a plethora of banks that offer personal loans at lucrative rates and minor changes have happened to the rates since 2015. The following are a list of the banks that offer the best interest rates for personal loans, as of the beginning of 2016.

    1. MBSB Personal Financing Mumtaz-i –

      This personal loan has got arguably the lowest rate of interest as of February 2016, being at 3.4% per annum. It can be a really great way to settle of debts or credit card payments since the loan amount can be as high as 250000 Malaysian Ringgit

    2. BSN SKAP –

      In case one is a federal government staff or has been a permanent employee with the government for more than three months BSN can offer a great personal loan at 3.9% per annum interest rate. The effective payment of instalment amounts to around 310 Ringgits concerning a loan of 10000 over 3 years

    3. Public Bank BAE Personal Financing-i –

      Public sector and government employees can benefit from this Islamic bank loan at a low interest rate of 3.99% per annum that is an advertised flat rate under the Bai Al-Einah financing system

    4. Am Bank Personal Financing-i –

      This is an unsecured personal loan that is offered through Islamic banking and is meant for government employees. An added benefit in this loan is that one can start payments after the third month of taking the loan. The effective advertised rate of interest is 4.3% per annum.

    5. Bank Rakyat Personal Financing-i Public –

      Another personal loan that is offered at a great interest rate of 4.54% per annum

    6. Bank Islam Flat Rate Personal Financing-i Package –

      An Islamic personal loan that is Shariah compliant and ensures rapid loan processing. The advertised interest rate is 4.99% per annum

    7. Alliance Bank CashFirst Personal Loan –

      A great way to start off a debt fee life, this particular personal loan is offered to all at a starting interest rate of 6.88% per annum and no processing fee

    8. Citibank Personal Loan –

      No processing fees, no guarantors and fast approval under this personal loan scheme are just made better by the interest rate of 7.9% per annum

    9. AmBank AmMoneyLine –

      Basically pushing the boundaries of fast approval, this personal loan can add funds to your account in under 24 hours. Coupled with that, there are no processing fees and an attractive rate of interest at 8% per annum

    10. Standard Chartered Cash One –

      What could be better than a personal loan with low interest rate? A personal loan with low interest rate that works with your favourite credit card. Avail this personal loan at a lucrative interest rate of 8.4% per annum

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