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The Best Fast Approval Personal Loans In Malaysia 2021

We found 17 Personal Loan(s) for you!

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

Within 24 hours with affordable repayment plan

Enjoy 24 hours express approval that is convenient & flexible at the same time

  • Approval Duration
    Within 24 hours
    Min. Loan Tenure
    1 year
    Max. Loan Tenure
    7 years
  • Employment Eligibility
    Salaried, self employed, commission earner
    Age Requirement
    21-55 years old
    Min. Monthly Salary
    RM 1,500
    More about this product >
  • Processing Fees
    Free
    Stamp Duty
    0.5% stamp duty fee is applicable
    More about this product >
You Pay
/mth
Interest Rate
% p.a.
Max. Loan Amount
RM 150,000
Total Repayment

iMoney Exclusive Flash Promo: Get an RM108 Touch 'n Go eWallet credits when you get approved. Plus, stand a chance to win a Macbook Air or Apple AirPods!

Get express 10-minute fast approval

  • Approval Duration
    Up to 24 hours
    Min. Loan Tenure
    1 year
    Max. Loan 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
    N/A
    Stamp Duty
    0.5% of loan amount
    More about this product >
You Pay
/mth
Interest Rate
% p.a.
Max. Loan Amount
RM 100,000
Total Repayment
You Pay
/mth
Profit Rate
% p.a.
Max. Financing Amount
RM 150,000
Total Repayment

iMoney Exclusive Flash Promo: Get an RM108 Touch 'n Go eWallet credits when you get approved. Plus, stand a chance to win a Macbook Air or Apple AirPods!

Get express 10-minute fast approval

  • Approval Duration
    Up to 24 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 100,000
Total Repayment
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 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
Interest Rate
% p.a.
Max. Loan Amount
RM 50,000
Total Repayment
  • Approval Duration
    2 days
    Min. Loan Tenure
    1 year
    Max. Loan Tenure
    5 years
  • Employment Eligibility
    RM 1,000
    Age Requirement
    18-60 years old
    Min. Monthly Salary
    RM 1,000
    More about this product >
  • Processing Fees
    Free
    Stamp Duty
    0.5% of approved loan 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
Interest Rate
% p.a.
Max. Loan Amount
RM 3,000,000
Total Repayment
You Pay
/mth
Interest Rate
% p.a.
Max. Loan Amount
RM 500,000
Total Repayment
You Pay
/mth
Interest Rate
% p.a.
Max. Loan Amount
RM 2,000
Total Repayment
  • Approval Duration
    24 hours
    Min. Loan Tenure
    1 year
    Max. Loan Tenure
    1 year
  • Employment Eligibility
    Salaried, self employed, commission earner (For New Cashwagon Customers Only)
    Age Requirement
    20-60 years old
    Min. Monthly Salary
    RM 1,000
    More about this product >
You Pay
/mth
Interest Rate
% p.a.
Max. Loan Amount
RM 5,000,000
Total Repayment
  • Approval Duration
    5 Working Days
    Min. Loan Tenure
    1 year
    Max. Loan Tenure
    7 years
  • Age Requirement
    18-60 years old
    Min. Monthly Salary
    RM 0
    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 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
Interest Rate
% p.a.
Max. Loan Amount
RM 150,000
Total Repayment
  • Approval Duration
    2-3 Working Days
    Min. Loan Tenure
    1 year
    Max. Loan Tenure
    10 years
  • Employment Eligibility
    Sector A - AG / PDRM / UPM / UiTM Sector B - State Sector C - Institute / Suruhanjaya / GLC Sector D - Majlis / Lembaga / Perbadanan / Universiti
    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
Interest Rate
% p.a.
Max. Loan Amount
RM 10,000
Total Repayment
  • Approval Duration
    3 days
    Min. Loan Tenure
    1 year
    Max. Loan Tenure
    2 years
  • Employment Eligibility
    Salaried employee working in KL, Selangor & Putrajaya
    Age Requirement
    21-55 years old
    Min. Monthly Salary
    RM 1,500
    More about this product >
  • Processing Fees
    Free
    Stamp Duty
    0.5% of approved loan amount
    More about this product >

Other Personal Loan categories

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How do you apply for a personal loan online?

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Step 1

Use our personal loan calculator to find the best personal loan 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 loan 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 Fast Approval Loans - 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.

  • A personal loan is an unsecured loan you borrow from a bank. This means that you can borrow money from the bank without the bank asking for any collateral. However, you should still repay your personal loan on time to avoid late penalty charges or negative impact on your credit score. 

    A personal loan has a shorter repayment period compared to home loans. You are usually expected to fully repay your personal loan within 10 years. 

    Also, unlike home or car loans, you can get a personal loan without any specific purposes. You can get it for home improvements, start a business or even for medical emergencies. However, we do not recommend getting a personal loan without careful consideration.

  • Firstly, let’s find out what is a conventional loan

    A conventional loan follows conventional financing principles where lenders lend money to customers like you and earn profit from the interest you paid on your loan every month.

    What is an Islamic loan?

    An Islamic loan follows Shariah financing principles which prohibits Riba (interest-based transactions). Instead, it is based on the concept of earning through the sale of commodities which looks like this:

    • Lending you the money is equivalent to the bank buying the item that you want to finance (e.g. car, renovation). This item is then sold to you at a markup price.
    • Refinancing: This is equivalent to you “buying the item from the bank” in your monthly repayments.  

    You can read more about it here.

  • What are secured loans? 

    Secured loans are where you are required to offer an asset (e.g. car, house) as a collateral in case you cannot repay your loan. 

    This means that the lender has a legal right to seize the asset you listed in the event you cannot repay your loan within the agreed repayment terms.

    Bigger loans like home loans may also require you to list a guarantor in case you fail to repay your loan.

    What are unsecured loans?

    Unsecured loans are loans where the lenders are not required to list any asset as a collateral. Instead, they will assess you’re your creditworthiness based on the following criteria among other factors before they decide if they want to lend you the money:  

    • Your employment status 
    • Your proof of income (at least 6 months)
    • Your credit score 

    These criteria will also determine how much you can borrow, your personal loan terms and interest rate.

    Read more about it here.

    • In Malaysia one can be able to get access to personal loans, which can be as low as RM 1000 with some even exceeding the RM 150,000 mark. The loan amount that one can be able to access is determined by the individual needs as well as their ability to repay the loan. The terms offered by the given lender will also influence the decision to be made by the client. In a situation where one needs a loan amount that exceeds what is being offered by the lender one has the alternative of taking a secured loan.

      If you choose the lender to be a bank, you have to follow the necessary procedure which could involve a loan agreement which will specify details such as the amount borrowed, the interest rate being charged and the amount that is to be paid on a monthly basis. The repayment terms will also be included in the loan agreement that is the monthly payment and how long the loan payment period will be. It is a given fact that the longer repayment periods will attract higher cumulative amounts for the payment of the loan.

      The types of loan offered could either be secured or unsecured loans. The personal loans that most opt for in Malaysia are the unsecured type.

       
  • Personal loans, just like other loans, come in different forms. All the lenders have different packages with various terms. To make a prudent decision especially in the times that you are short of money, you ought to compare the different rates available in the market. You could best achieve this by making use of the iMoney's online calculator. 


    Getting started is pretty easy, all you have to do is to indicate the loan you prefer and specify the amount and period you want to clear the payment of it in the various available fields. The online calculator will then make it easy for you by providing suitable loan packages that are available on the market, and it is worth noting that the best rates will feature at the top. If you wish to sign for a personal loan you will then click on the Apply button.

  • As alluded to earlier the good packages are the ones that attract relatively lower interest rates. This will make the cumulative amount to be paid to be much less. The market situation in Malaysia is one in which the interest rates are charged on a flat rate basis. The flat interest rate refers to a type of interest in which case the interest is charged on the original amount, this having nothing to do with what was paid initially.

  • The Early Settlement Penalty;

    Some banks will charge one a penalty fee for paying an amount earlier than agreed as they feel that they would not have earned enough interest on the amount loaned. The figure for this is highly variable but at times it could be as high as the interest that could be accrued in three months.
     

    Other Fees;

    It is recommended that you go through the loan agreement to familiarize yourself with the other fees that may be required for a certain loan. These could include the stamp duties, processing fees as well as other one-time charges.
  • Most of the lender have tight rules as far as eligibility is concerned. The eligibility terms could range from the income or even age requirements. At times the client may be asked to give the lender proof for the ownership of certain property or any other assets. Your debt liabilities would not be spared either.

  • Collateral:
    This refers to the asset the borrower pledges to a given lender in order to secure a loan and this will be impounded by the lender in case of default in payment of the loan. The case in Malaysia particularly for the islamic personal loans don require the need for a collateral.
     
    Early settlement penalties:
    The fees that the borrower will have to pay in the event that he/she had settled the loan at an earlier date from the one specified on the loan agreement. This is usually estimated as a percentage of the initial loan amount.
     
    Guarantor:
    This a person who agrees to be liable for the payment of a loan in the event that the borrower will not be in a position to pay it in time.
     
    Late Payment Charges:
    This is the fee that the bank will charge you in the event you are not able to pay your loan in the agreed time schedule. The borrower has to pay for this additional fee and it is mostly at the rate of 1 % per annum.
     
    Loan/Financing tenure:
    This refers to the period for a certain loan. At the end of the loan tenure the borrower is supposed to have cleared the loan taken.