RM
year(s)
RM
- You Pay
- RM 89 /mth
- Interest Rate
- Total Interest Payable
- RM 70
- Total Repayment
- RM 1,070
Alliance Bank CashFirst Personal Loan
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- Interest Rate
- 3.99% p.a. ~ 8.38% p.a.
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- Max. Loan Amount
- RM 200,000
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- Approval Duration
- Up to 24 hours
"One of the lowest interest rates, hence it is perfect for debt consolidation, business cash flow injection and even home improvements."
iMoney Editor's Review
Calculate your loan repayment instantly
Key Features
Consolidate your commitments from Credit Card,Personal Loan,Home Loan or Car Loan into ONE single monthly repayment
Approved loan amount of up to RM200,000
Sign up and Apply now for an Alliance CashFirst Personal Loan and enjoy rate as low as 3.99% p.a for 1 year tenure
More details
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Features- Approval Duration
- Up to 24 hours
- Min. Loan Amount
- RM 5,000
- Max. Loan Amount
- RM 200,000
Other features
- Early Settlement
- No
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Eligibility/Documents- Employment Eligibility
- Salaried, self employed, commission earner
- Age Requirement
- 21-60 years old
- Min. Monthly Salary
- RM 3,000
Other eligibility requirements
- Other Eligibility
- Malaysians working and residing in Malaysia will be considered.
- Application Form
- Alliance CashFirst
- NRIC
- Copy of NRIC (front and back)
- Salary Slip
- 1 month (fixed income) or 3 months (variable income)
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Fees and charges- Processing Fees
- N/A
- Stamp Duty
- 0.5% of loan amount
Other Fees and charges
- Late Payment Charges
- 1% p.a. on outstanding loan amount
Other similar products
- Interest Rate
- 13.45% p.a.
- Max. Financing Amount
- RM 150,000
- Profit Rate
- 2.31% p.a.
- Max. Financing Amount
- RM 200,000
- Profit Rate
- 2.69% p.a.
- Max. Financing Amount
- RM 200,000
Prefer to talk to our customer care agents?
How do you apply for a personal loan online?
Step 1
Use our personal loan calculator to find the best personal loan based on your requirements and eligibility.
Step 2
Select the best product that fits your requirements from the list of recommended personal loan products listed and click on the Apply button.
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.
Read more about Personal Loan
Review by iMoney
iMoney Exclusive Flash Promo: DuitNow cashback worth RM120 when you get approved. Plus, stand a chance to win an additional cashback “Bonus”, with a single Grand Prize winner of one (1) DuitNow cashback worth RM 5,000, herein referred to as the “Grand Prize”, and a single First Prize winner of one (1) DuitNow cashback worth RM 1,000, herein referred to as the “First Prize”. (Terms and Conditions)
The Alliance Bank CashFirst Personal Loan is an unsecured conventional personal loan. Similar to its Islamic personal financing counterpart, this personal loan allows you to consolidate up to a maximum of four credit cards and/or personal financing commitments. However, it offers a lower interest rate compared to Alliance Bank CashFirst Personal Loan. The loan amount starts from RM5,000 and you may borrow up to RM200,000.
Best for: The Alliance Bank CashFirst Personal Loan is a strong option to consolidate your debts as it offers a much lower interest rate compared to credit cards or other personal loans.
Income requirements: This personal loan is open for those who are earning RM3,000 and above a month, or those who need to borrow a higher financing amount (it can go up to RM200,000).
Pros: There are no processing fee, guarantor or collateral required and no early settlement penalty*.
Alliance Bank CashFirst Personal Loan FAQ
Alliance Bank CashFirst Personal Loan is a conventional personal loan offered by Alliance Bank.
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The Alliance Bank CashFirst Personal Loan offers a low-interest personal loan, which is based on a fixed interest rate (flat) ranging from 4.99% per annum (or per year) for 1-2 years tenure, 6.99% per annum for 3-4 years tenure and 8.38% to 14.78% for longer tenure per annum, throughout the entire loan tenure.
Personal loan rate may vary based on individual risk rating:
Loan tenure of 1 – 2 years
Loan tenure of 3 – 4 years
Loan tenure above 4 years
Fixed interest rate from 4.99% per annum (Flat) throughout the entire loan tenure
Fixed interest rate from 6.99% per annum (Flat) throughout the entire loan tenure
Fixed interest rate ranging from 8.38% and 14.78% per annum (Flat) throughout the entire loan tenure
The personal loan interest rate is based on individual risk rating. Having a higher salary lowers your risk rating as it reflects that you are less likely to default in your financial obligations (or conditions) of a loan. However, that’s just one factor the bank considers when they are approving your loan.
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The maximum you can borrow is up to 7 times your fixed monthly gross salary or up to RM200,000. For example, if you are earning RM3,000 a month, you are eligible to borrow up to RM21,000. The minimum loan amount if RM5,000.
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Financing tenure means the period of your financing. The maximum financing tenure for Alliance Bank CashFirst Personal Loan is 7 years. Why does this matter? The longer your financing tenure is, the lower your monthly repayment will be. But it also means higher interest charges.
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Income: Your minimum gross salary must be at least RM3,000 per month, or RM36,000 a year. Gross salary means salary before monthly deductions such as income tax and Employees Provident Fund (EPF) contribution.
Age: To qualify, you must be between the age of 21 and 60. This means, your age must not exceed 60 at the end of the loan tenure. For example, if you are taking up the loan at age 55, the maximum loan tenure you can qualify for is only 5 years, instead of the maximum 7 years.
Other qualifying criteria: You must be a Malaysian citizen or a permanent resident working and residing in Malaysia. Malaysian citizens working in Singapore but residing in Malaysia will also be considered.
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The bank can take up to 48 hours to process and approve your loan upon receiving all your information and documents. To speed up the process, you can complete the application through iMoney where our call centre consultant will walk you through the eligibility checker, application form, and advise you on the required document submission.
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One-time set-up fee: A stamp duty fee of 0.5% on the loan amount will be deducted upfront before your loan amount is given to you or disbursed to you. Remember, when you are applying through iMoney, there will be no deposit or other upfront charges payable to iMoney.
Late payment charges: 1% on the outstanding loan amount. Late payment charges will increase your total outstanding loan amount
Other fees: Alliance Bank CashFirst Personal Loan does not charge a processing fee, or early settlement fee*.
* No early settlement penalty imposed if you provide Alliance Bank with
- 3 months advance notice in writing, OR
- A payment equivalent to 3 months’ profit charge in lieu of advance notice
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As with any personal loan, you will be required to make monthly repayment, which comprises of principal amount and profit charge
How much you pay per month depends on your loan amount, tenure and interest rate. For example, if you are borrowing RM50,000 with an interest rate of 4.99% over 5 years, your monthly repayment will be around RM1,041.
Use the personal loan calculator above to calculate your monthly repayment.
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- Interbank GIRO (IBG)/Instant Interbank Funds Transfer (IBFT) via ATM or Internet Banking
- From your Alliance Current Account/Savings Account - Direct Debit via Alliance Online Banking or Standing Instruction
- Over-the-counter or at the self-service terminals at any Alliance Bank branch
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Once you have completed your application with iMoney, you are required to provide the following documents for your application:
- If you work at a multinational company (MNC):
- Copy of NRIC (front and back)
- Any of the documents below (choose one):
- Latest 1-month salary slip (fixed income) OR latest 3 months salary slips (variable income)
- Latest EA Form
- Latest 6 months’ EPF statement
- Latest BE Form with validated payment slip/receipt to LHDN
- If you work at of non-MNC or private limited company:
- Copy of NRIC (front and back)
- Any of the documents below (choose one):
- Latest 3 months’ salary slips (with supporting bank statement)
- Latest 6 months’ EPF statement
- Latest BE Form with validated payment slip/receipt to LHDN
- If you are self-employed:
- Copy of NRIC (front and back)
- Copy of current and valid Business Registration Card (business must be at least 2 years)
- Any of the documents below (choose one):
- Latest 6 months’ salary slips
- Latest 6 months’ company’s principal bank statement
- Latest 6 months’ EPF Statement
- Latest B Form with validated payment slip/receipt to LHDN
- If you are a commission earner:
- Copy of NRIC (front and back)
- Any of the documents below (choose one):
- Latest 6 months’ salary slip/commission statement/payment voucher verified against bank statements
- Latest EA Form
- Latest BE Form with validated payment slip/receipt to LHDN
- If you work at a multinational company (MNC):
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Unfortunately, no. Alliance Bank will check your credit history as part of their approval process. You are required to settle all overdue payments before applying and keep a healthy credit record before you apply for a personal loan. It is advised that you continue repaying your loans on time for another three months before reapplying.
Check your iMoney CreditScore for free to find out how your credit health is.
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CIMB Bank Cash Plus Personal Loan
If you find the minimum requirement of RM3,000 a month is tough to meet, you may consider CIMB Bank Cash Plus Personal Loan. This loan has a low minimum income requirement of only RM2,000. It also comes with a fixed interest rate that starts from 6.88% p.a. and a maximum loan tenure of 5 years.
Al Rajhi Bank Personal Financing-i
Looking for a loan with a longer tenure? Try Al Rajhi Bank Personal Financing-i, which offers tenure of 8 years. It also comes with a low flat interest rate starting from 6.99% p.a. However, it does have a slightly higher minimum income requirement of RM5,000.