Cash woes? A personal loan to the rescue!
  • Secured Personal Loan

    Generally, personal loans are unsecured loans that do not require a collateral or a guarantor. However, there exists secured personal loans that require you to provide a collateral or a guarantor in the form of a security to enjoy better facilities. Given below are a few secured personal loans available in Malaysia with the information on the benefits they offer.

    Compare Secured Personal Loans

    Personal Loan Criteria Type of Collateral Accepted Max. Loan Amount Interest Rate (% p.a.) Loan Tenure
    CIMB Credit Line Secured Overdraft Minimum of RM10,000 CIMB Fixed Deposit, CIMB Unit Trust, etc. - 4.95% - 5.45% p.a. -
    BSN Sandaran Sijil Simpanan Tetap Loan amount equivalent to 95% of Collateral Term Deposit RM100,000 5.95% - 6.45% p.a. 2-10 years
    Bank Islam Personal Cash Line-i 100% of Fixed Deposit, 80% of Structured Investment or 60% of Unit Trust Bank Islam’s Fixed Deposit, Structured Investment or Unit Trust RM200,000 6.85% - 15% p.a. Up to 5 years
    AmBank Term Loan ASB/ASB2 Up to 100% of Amanah Saham Bumiputera (ASB)/ASB2 ASB units RM200,000 5.6% p.a. 5-30 years

    CIMB Credit Line Secured Overdraft

    Islamic/Conventional Conventional

    Eligibility

    • Age:
      • Minimum of 21 years
      • Maximum of 70 years
    • Nationality: Malaysians and non-residents of Malaysia

    Benefits of CIMB Credit Line Secured Overdraft

    • CIMB gives you the freedom to withdraw the money anytime via a cheque book, ATM or from the bank’s branch.
    • The bank does not specify a fixed monthly instalment amount.
    • Interest is calculated only on the amount you have withdrawn.
    • The bank accepts various collaterals such as CIMB Fixed Deposit, CIMB Unit Trust, CIMB Structured Product, Negotiable Instruments of Deposit (NID), Floating Rate Negotiable Instruments of Deposit (FRNID), Amanah Saham Bumiputera (ASB) and Acceptable External Unit Trust.

    How to Apply?

    • You can call the Consumer Contact Centre at +603 6204 7788 to find out more about Credit Line Secured Overdraft and know the application procedure.
    • You can visit the nearest branch office to fill the application form and submit the form with required documents.

    BSN Sandaran Sijil Simpanan Tetap

    Minimum Monthly Income RM2,000
    Minimum Loan Amount RM5,000
    Islamic/Conventional Islamic

    Eligibility

    • Nationality: Malaysian citizens only
    • Age:
      • Minimum 18 years
      • Maximum 65 years
    • Others: You must own a BSN Term Deposit Certificate

    Benefits of BSN Sandaran Sijil Simpanan Tetap

    • You don’t have to provide a guarantor to get the loan.
    • The loan does not include a lock-in period.
    • Early settlement fee is not levied.

    How to Apply?

    You can apply for the personal loan online by visiting the bank’s website and entering your contact details.

    Bank Islam Personal Cash Line-i

    Minimum Monthly Income RM1,500
    Minimum Loan Amount RM5,000
    Islamic/Conventional Islamic

    Eligibility

    • Nationality: Malaysian citizens only.
    • Occupation: You can be a salaried employee or self-employed.
    • Age:
      • Your age must be a minimum of 18 years if you are providing a Fixed Deposit or a Structured Investment as the collateral.
      • If you provide Unit Trust as the collateral, then your age must be between 18 years and 65 years.

    Benefits of Bank Islam Personal Cash Line-i

    • The bank offers floating interest rate where the Base Rate is 4.10% p.a.
    • You can choose the collateral from the available choices: Fixed Deposit, Structured Investment and Unit Trust.
    • The loan comes with fast approval times.
    • No guarantor is required.
    • The bank does not charge commitment fee or processing fee.

    How to Apply?

    • You can apply for Cash Line-i by clicking on the Apply Now button on the bank’s web page.
    • You can also visit the nearest branch office, fill the form and submit the application along with the required documents.

    AmBank Term Loan ASB/ASB2

    Minimum Loan Amount RM10,000
    Islamic/Conventional Conventional

    Eligibility

    • Nationality: Malaysian citizens only
    • Age:
      • Minimum of 18 years
      • Maximum of 60 years

    Benefits of AmBank Term Loan ASB/ASB2

    • The bank provides financing for Decreasing Term Assurance as part of the Term Loan.
    • The interest rates are pegged at the Base Rate of 4.10% p.a.

    How to Apply?

    • You can apply for AmBank Term Loan ASB/ASB2 by visiting the bank’s website and clicking on ‘Apply Now’ button. Here, you can provide your personal details and choose the product you are interested in. The bank’s staff will get back to you regarding the further processes.
    • You can visit the nearest bank’s branch to fill the application form and submit the form. You have to attach the required documents when you submit the loan application.

    FAQs

    1. Q. Should I pay a processing fee on BSN Sandaran Sijil Simpanan Tetap?

      A. No. The bank does not levy a processing fee on the personal loan. However, you need to pay an advance payment that is equivalent to one month’s instalment.

    2. Q. Do I need to buy Takaful Coverage along with Bank Islam Personal Cash Line-i?

      A. You can buy Takaful Coverage with Bank Islam Personal Cash Line-i. However, this is not mandatory.

    3. Q. What are the fees and charges I have to pay for CIMB Credit Line Secured Overdraft?

      A. You have to pay Stamp duty charges as per the Stamp Duty Act, a nominal stamping fee of RM10 and a documentation fee of RM106.

    4. Q. What is a Base Rate?

      A. A Base Rate is a reference on which an interest rate is determined on the bank’s products. Usually, it is a sum of Cost of Funds and Statutory Reserve Requirement as determined by Bank Negara Malaysia. The Base Rate is subject to changes at any point in time.

    5. Q. Should I make an advance payment of the monthly instalment to Bank Islam?

      A. No. Bank Islam does not require you to pay an advance payment.

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