JCL Personal Loan

  • Interest Rate
    12.00% p.a. ~ 18.00% p.a.
  • Max. Loan Amount
    RM 50,000
  • Approval Duration
    2 days

Calculate your loan repayment instantly

RM
year(s)
RM
You Pay
RM 89 /mth
Interest Rate
Total Interest Payable
RM 70
Total Repayment
RM 1,070

More details

  • icon Features Features

    Approval Duration
    2 days
    Min. Loan Amount
    RM 1,000
    Max. Loan Amount
    RM 50,000

  • icon Eligibility/Documents Eligibility/Documents

    Employment Eligibility
    RM 1,000
    Age Requirement
    18-60 years old
    Min. Monthly Salary
    RM 1,000

    Other eligibility requirements

    Need to open linked bank account?
    No
    Guarantor Collateral Requirement
    N/A
    NRIC
    Front & back
    Salary slip
    3 months
    Bank statement
    3 months
    Utility bill
    Latest with current address

  • icon Fees and charges Fees and charges

    Processing Fees
    Free
    Stamp Duty
    0.5% of approved loan amount

    Other Fees and charges

    Early Settlement
    No penalty
    Late Payment Charges
    8% from current outstanding amount

Prefer to talk to our customer care agents?

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.

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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.

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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.

Review by iMoney

The JCL Personal Loan is a loan offered by a licensed credit leasing company. It comes with one of the lowest minimum income requirement and loan amount. If you have trouble qualifying for a personal loan offered by banks, this is a good option to try out. 

Best for: Low-income earners who are looking for quick cash flow solutions

Income requirements: Open for those who are earning RM1,000 and above a month

Pros: Low-income requirement, as well as no processing fee and early settlement penalty

JCL Personal Loan FAQ

JCL Personal Loan is a conventional personal loan offered by JCL Credit Leasing. JCL is a licensed credit leasing company which was established in 1996. The headquarter is located in Kuala Lumpur with 5 branches in other main cities across Peninsular Malaysia.

  • The JCL Personal Loan ranges from 12% to 18% per annum (or per year). The final approved interest rate is subject to the bank’s approving criteria. It is slightly higher compared to some personal loans, but the best part of this loan is the minimum income requirement and an easier approval process.

  • JCL offers one of the lowest loan amounts in the market, starting from RM2,000 to a maximum up to RM50,000. The loan amount you can borrow ranges between RM2,000 and RM100,000.

  • Loan tenure means how long you can take to repay the loan. The maximum loan tenure for JCL Personal Loan is 5 years. The longer your loan tenure, the lower your monthly repayment as you stretches out your loan amount to a longer-term loan.

  • Income: Your minimum gross salary must be at least RM1,000 per month. Gross salary means salary before mandatory monthly deductions such as income tax and Employees Provident Fund (EPF) contribution.

    Age: You must be between the age of 18and 60 to qualify for the loan. JCL allows a much younger applicant to apply for their loans compared to what most banks allow.

    Other qualifying criteria: You must be a Malaysian citizen to qualify.

  • The bank can take up to 3 working days to process and approve your loan upon receiving all your information and documents. You can check your chances of approval if you apply through iMoney. Our call centre consultants will walk you through an eligibility checker before recommending the best personal loan for you.

  • Late payment charges: 8% on the outstanding loan amount. Late payment charges will increase your total outstanding loan amount.

    Other fees: JCL Personal Loan does not charge a processing fee or early settlement fee. However, they require at least 30-day prior notice in writing for early settlement.

  • Your monthly repayment is fixed throughout the loan tenure, and it is split into the payment of principal and interest.

    The lower your interest rate and the longer your loan tenure, the lower your monthly repayment will be. For example, if you are borrowing RM10,000 with an interest rate of 12% over 3 years, your monthly repayment will be around RM378.

    Use the personal loan calculator above to calculate your monthly repayment.

  • Upon approval, the loan amount will be credited into a bank account provided by you.

    • JomPAY via online banking
    • Direct Debit (e-Mandate)
    • PayQuik Mobile App

  • Once you have completed your application with iMoney, you are required to provide the following documents for your application:

    1. If you are earning a fixed salary:
      • Original identity card (front and back)
      • Latest 3 months of salary slips/payslips
      • Latest 3 months of bank statements
      • Latest EPF or tax declaration form (BE form)
      • Utility bills: electricity, water, etc.
    2. If you are self-employed:
      • Original identity card (front and back)
      • SSM
      • Latest 6 months of bank statements
      • Latest 6 months of invoices/payment vouchers
      • Utility bills: electricity, water, etc.

  • Like most financial institutions, JCL will check your credit history as part of their approval process. If you have some outstanding payments reflected in your credit report, you are required to settle all overdue payments before applying. It is recommended 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.

  • AmBank Islamic Bank AmMoneyLine Facility-i

    If you are looking to stretch your monthly repayment to longer tenure, you can try the AmBank Islamic AmMoneyLine Facility-i with a maximum tenure of 8 years. It has a lower profit rate starting from 8% per annum but a higher minimum income requirement of RM2,000.

    RHB Easy-Pinjaman Ekspres

    If you are looking for a personal loan offered by a bank, you may consider the RHB Easy-Pinjaman Ekspres. The personal loan also comes with a slightly higher minimum income requirement of RM1,500. However, the interest rate and maximum tenure are comparable to JCL.

    Alliance Bank CashFirst Personal Loan

    If your income is higher, you can consider the Alliance Bank CashFirst Personal Loan which offers a lower interest rate, starting from 4.99% per annum. It also allows you a higher maximum loan amount of RM150,000.