Best Islamic Personal Financing

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Compare and Apply For The Best Islamic Personal Loans in Malaysia

We found 29 personal loan(s) for you!

You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 150,000
Total Repayment

iMoney Exclusive Flash Promo: RM500 Touch 'n Go or Grab Voucher exclusively for Alliance Bank Personal Loan**

Get express 10-minute fast approval

  • Approval Duration
    Up to 48 hours
    Min. Financing Tenure
    1 year
    Max. Financing Tenure
    7 years
  • Employment Eligibility
    Salaried, self employed, commission earner
    Age Requirement
    21-60 years old
    Min. Monthly Salary
    RM 3,000
    More about this product >
  • Processing Fees
    Free
    Stamp Duty
    0.5% of loan amount
    More about this product >
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 200,000
Total Repayment

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  • Approval Duration
    3 working days
    Min. Financing Tenure
    1 year
    Max. Financing Tenure
    10 years
  • Employment Eligibility
    Permanent civil servant only
    Age Requirement
    18-58 years old
    Min. Monthly Salary
    RM 3,000
    More about this product >
  • Stamp Duty
    0.5% on financing amount
    More about this product >
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 250,000
Total Repayment
  • Approval Duration
    Up to 1 business day (Approval turnaround time (TAT) is subject to fresh loan (no overlapping))
    Min. Financing Tenure
    2 years
    Max. Financing Tenure
    10 years
  • Age Requirement
    19-60 years old
    Min. Monthly Salary
    RM 3,000
    More about this product >
  • Processing Fees
    Free
    Stamp Duty
    Free
    More about this product >
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 200,000
Total Repayment
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 400,000
Total Repayment
  • Approval Duration
    Up to 1 business day (Approval turnaround time (TAT) is subject to fresh loan (no overlapping)
    Min. Financing Tenure
    2 years
    Max. Financing Tenure
    10 years
  • Age Requirement
    19-60 years old
    Min. Monthly Salary
    RM 2,000
    More about this product >
  • Processing Fees
    Free
    Stamp Duty
    Free
    More about this product >
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 150,000
Total Repayment
  • Approval Duration
    1-2 weeks
    Min. Financing Tenure
    1 year
    Max. Financing Tenure
    10 years
  • Age Requirement
    20-58 years old
    Min. Monthly Salary
    RM 1,500
    More about this product >
  • Processing Fees
    Free
    Stamp Duty
    0.5% on loan amount (Original Copy) + RM10 (Photocopy)
    More about this product >
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 150,000
Total Repayment
  • Approval Duration
    1-2 Weeks
    Min. Financing Tenure
    2 years
    Max. Financing Tenure
    10 years
  • Employment Eligibility
    Permanent government servant
    Age Requirement
    21-58 years old or 1 year before retirement
    Min. Monthly Salary
    RM 1,500
    More about this product >
  • Processing Fees
    Free
    More about this product >
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 200,000
Total Repayment
  • Approval Duration
    2 business days
    Min. Financing Tenure
    2 years
    Max. Financing Tenure
    5 years
  • Age Requirement
    18-58 years old
    Min. Monthly Salary
    RM 1,500
    More about this product >
  • Processing Fees
    Free
    Stamp Duty
    As per Stamp Duty Act 1949 (Revised 1989)
    More about this product >
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 200,000
Total Repayment
  • Approval Duration
    3-5 Working Days
    Min. Financing Tenure
    1 year
    Max. Financing Tenure
    10 years
  • Employment Eligibility
    Government Status (Permanent status) and Length of Current Employment 6 months
    Age Requirement
    21-60 years old or 1 year before retirement (whichever is earlier)
    Min. Monthly Salary
    RM 1,800
    More about this product >
  • Processing Fees
    Free
    More about this product >
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 200,000
Total Repayment
  • Approval Duration
    7 business days
    Min. Financing Tenure
    2 years
    Max. Financing Tenure
    10 years
  • Employment Eligibility
    Salaried
    Age Requirement
    18-58 years old
    Min. Monthly Salary
    RM 2,000
    More about this product >
  • Stamp Duty
    Nominal amount of RM10.00 (per document)
    More about this product >
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 150,000
Total Repayment
  • Approval Duration
    Up to 5 business days
    Min. Financing Tenure
    1 year
    Max. Financing Tenure
    10 years
  • Age Requirement
    18-60 years old
    Min. Monthly Salary
    RM 3,500
    More about this product >
  • Processing Fees
    Free
    Stamp Duty
    As per Stamp Duty Act 1949 (Revised 1989)
    More about this product >
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 150,000
Total Repayment
  • Approval Duration
    Up to 2 business days
    Min. Financing Tenure
    2 years
    Max. Financing Tenure
    8 years
  • Employment Eligibility
    Salaried only
    Age Requirement
    25-60 years old
    Min. Monthly Salary
    RM 4,500
    More about this product >
  • Processing Fees
    Free
    Stamp Duty
    0.5% of financing amount
    More about this product >
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 300,000
Total Repayment
  • Approval Duration
    Up to 5 business days
    Min. Financing Tenure
    1 year
    Max. Financing Tenure
    10 years
  • Age Requirement
    18-60 years old
    Min. Monthly Salary
    RM 2,000
    More about this product >
  • Processing Fees
    Free
    Stamp Duty
    As per Stamp Duty Act 1949 (Revised 1989)
    More about this product >
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 200,000
Total Repayment
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 100,000
Total Repayment
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 150,000
Total Repayment
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 100,000
Total Repayment
  • Approval Duration
    6-8 Working Days
    Min. Financing Tenure
    2 years
    Max. Financing Tenure
    10 years
  • Employment Eligibility
    Permanent civil servant only
    Age Requirement
    21-54 years old or 1 year before retirement
    Min. Monthly Salary
    RM 1,800
    More about this product >
  • Processing Fees
    Free
    More about this product >
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 150,000
Total Repayment
  • Approval Duration
    2-3 Working Days
    Min. Financing Tenure
    1 year
    Max. Financing Tenure
    10 years
  • Employment Eligibility
    Sector A - AG / PDRM / UPM / UiTM
    Age Requirement
    PDRM: 20-55 years old, Others: 20-58 years old
    Min. Monthly Salary
    RM 1,500
    More about this product >
  • Processing Fees
    Free
    More about this product >
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 400,000
Total Repayment
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 100,000
Total Repayment
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 400,000
Total Repayment
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 150,000
Total Repayment
  • Approval Duration
    3 working days
    Min. Financing Tenure
    2 years
    Max. Financing Tenure
    8 years
  • Employment Eligibility
    Salaried only
    Age Requirement
    21-60 years old
    Min. Monthly Salary
    RM 3,000
    More about this product >
  • Processing Fees
    Free
    Stamp Duty
    0.5% of financing amount
    More about this product >
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 100,000
Total Repayment
  • Approval Duration
    24/7 Approval
    Min. Financing Tenure
    1 year
    Max. Financing Tenure
    7 years
  • Employment Eligibility
    Salaried, self employed, salary by cash
    Age Requirement
    18-60 years old
    Min. Monthly Salary
    RM 1,500
    More about this product >
  • Processing Fees
    Maximum fee is RM400
    Stamp Duty
    0.5% stamp duty fee is applicable
    More about this product >
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 300,000
Total Repayment
  • Approval Duration
    1 business day
    Min. Financing Tenure
    2 years
    Max. Financing Tenure
    10 years
  • Employment Eligibility
    Permanent employees, Salaried, Self-Employed
    Age Requirement
    21-60 years old
    Min. Monthly Salary
    RM 3,500
    More about this product >
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 100,000
Total Repayment
  • Approval Duration
    Up to 2 business days
    Min. Financing Tenure
    1 year
    Max. Financing Tenure
    5 years
  • Age Requirement
    21-60 years old
    Min. Monthly Salary
    RM 2,000
    More about this product >
  • Processing Fees
    Free
    Stamp Duty
    As per Stamp Duty Act 1949 (Revised 1989)
    More about this product >
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 150,000
Total Repayment
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 250,000
Total Repayment
  • Approval Duration
    Up to 3 business days
    Min. Financing Tenure
    2 years
    Max. Financing Tenure
    7 years
  • Employment Eligibility
    Salaried, self employed, commission earner
    Age Requirement
    21-60 years old
    Min. Monthly Salary
    RM 3,000
    More about this product >
  • Processing Fees
    Free
    Stamp Duty
    Free
    More about this product >
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 1,000,000
Total Repayment
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 300,000
Total Repayment

Other loan categories

If you're not sure which loan is right for you, we can help!

How do you apply for a personal financing online?

Step 1 Image

Step 1

Use our personal financing calculator to find the best personal financing based on your requirements and eligibility.

Step 2 Image

Step 2

Select the best product that fits your requirements from the list of recommended personal financing products listed and click on the Apply button.

Step 3 Image

Step 3

Fill in a form with your details to be submitted for application, and a representative from iMoney or the bank will call you to process the application.

FAQs Personal Loans in Malaysia - FAQ

Your short-term money needs can be met by applying for a personal loan. Get relieved off the stress occasioned by urgent needs in times when you are hard up. This could help in scenarios when you want to acquire new furniture or when you have run short of funds for your honeymoon or wedding. This is highly convenient and it is a quick option for those who are in dire need of funds to rescue themselves from sudden money deficits or even the acquisition of a property that has been desired for long at the cost of an arm and a leg.

  • In conventional loans, banks earn from interest rates charged to the borrower. Meanwhile, Islamic financing is based on making a profit through the sale of commodities instead of interest or Riba which is prohibited in Islamic banking.

    Instead of charging you an “interest rate”, banks charge you a “profit rate” in Islamic financing. This is how it works:

    1. When you apply for an Islamic financing, you are basically asking the bank to buy the exact item that you would’ve bought with the loaned money.
    2. This item is then sold back to you at an additional markup.
    3. You are then required to pay for the item in instalments or through a “rent-to-own” scheme. Any amount you pay in addition to the loan amount is called the “profit rate”.

    All this follows the principle of Murabaha which is essentially the concept of providing financing to consumers based on pre-determined profits rather than an interest rate.

  • You are charged “profit rate” instead of “interest rate”

    As mentioned above, a key difference between conventional loans and Islamic financing is how the bank makes a profit. In conventional loans, banks charge an “interest rate” on the money you borrow. Meanwhile in Islamic financing, the bank buys the asset you wish to buy with the borrowed money on your behalf, and then sells it back to you at a markup.

    Since the markup is predetermined, the additional amount you pay every month is fixed and called a “profit rate” instead of an “interest rate”.

    This adheres to Islamic banking principles which prohibits the charging of Riba (or interest).

    There is no early settlement fee

    An “early settlement” is when you finish repaying your loan earlier than the agreed tenure. Conventional personal loans charge you a fee for early settlement (typically 1% - 3%). On the contrary, Islamic financing gives you a rebate (or “Ibra”) if you repay your financing earlier than agreed.

  • Lower late payment fees

    As compounding interest is prohibited by Shariah principles, late payment fees may be lower in Islamic financing. This means that in the event you settle your loan repayments late, the interest will not compound as they do in conventional personal loans.

    In fact, the Ta’widh concept only allows Islamic banks to charge late payment fees at a maximum rate of 1% per annum.

    Rebate for early settlement

    An “early settlement” is when you finish repaying your loan earlier than the agreed tenure. While conventional personal loans charge you a fee for early settlement (typically 1% - 3%), Islamic financing gives you a rebate (or “Ibra”) if you repay your financing earlier than agreed.

  • The requirements are similar for conventional personal loans. While eligibility criteria may differ across banks and products, some of the basic requirements are:

    • Malaysian Citizenship - both Muslims and non-Muslims can apply
    • Minimum Age ranges between 18 - 25 years old
    • Maximum Age ranges between 58 - 65 years old
    • Minimum Monthly Income typically ranges between RM1,500 - RM5,000
    • A Guarantor or Collateral may or may not be required, depending on the bank

    Use our personal financing calculator to find the Islamic financing that best fits your needs and eligibility.

  • Murabaha – A financial arrangement between a buyer and a seller where the cost and markup of an asset are agreed beforehand. In Islamic financing, the borrower will repay the bank a fixed monthly rate (inclusive of the markup) instead of an interest rate as is used in conventional personal loans. Simply put, the “markup” replaces the interest rate (Riba) which is prohibited in Islamic banking.

    Riba – The Arabic word for “an addition to” or “excess”, Riba in the context of Islamic banking simply means “interest”. Riba is prohibited in Islamic banking to ensure equity in exchange between a lender and a borrower.

    Tawarruq – A concept followed by certain Islamic financing facilities. Tawarruq is essentially a financial arrangement where a buyer who needs liquidity or cash flow purchases a commodity from a seller at a higher price but on a deferred payment basis. The buyer then sells the commodity to a third party who pays on the spot.

    If you would like to find out more about Islamic financing, head to our Learning Centre.