Best Personal Loans

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Malaysia Best Personal Loans 2021 - Compare & Apply Online

We found 47 personal loan(s) for you!

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

iMoney Flash Promo: Get RM350 Touch n Go voucher when you apply now!

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
Profit Rate
% p.a.
Max. Financing Amount
RM 150,000
Total Repayment

iMoney Flash Promo: Get RM350 Touch n Go voucher when you apply now!

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

Money for Merdeka 2.0

Apply and Win Great Prizes*

  • 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
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
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
Interest Rate
% p.a.
Max. Loan Amount
RM 3,000,000
Total Repayment
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 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 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
Interest Rate
% p.a.
Max. Loan Amount
RM 250,000
Total Repayment
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
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 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
Interest Rate
% p.a.
Max. Loan Amount
RM 500,000
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
Interest Rate
% p.a.
Max. Loan Amount
RM 100,000
Total Repayment
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
  • 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
Interest Rate
% p.a.
Max. Loan Amount
RM 250,000
Total Repayment
  • Approval Duration
    2-4 Working Days
    Min. Loan Tenure
    10 years
    Max. Loan Tenure
    10 years
  • Employment Eligibility
    Permanent government and semi-government employees (TNB. POS Malaysia)
    Age Requirement
    21-47 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
You Pay
/mth
Interest Rate
% p.a.
Max. Loan Amount
RM 250,000
Total Repayment
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
Interest Rate
% p.a.
Max. Loan Amount
RM 250,000
Total Repayment
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 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 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
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 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 >
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 300,000
Total Repayment
You Pay
/mth
Interest Rate
% p.a.
Max. Loan 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 loan online?

Step 1 Image

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 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.

  • 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 financing?

    An Islamic financing 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:

    • Deferred Payment: where you will repay the Bank of the Item's Selling Price on deferred basis through monthly payments.

    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.

  • While there are many reasons to get a personal loan, we recommend that you apply for one which can help you generate a return or reduce your debt over time. Some good reasons for getting a personal loan include:

    • To better manage your debts through consolidation

      If you currently have a few outstanding debts – like other personal loans and credit card balances – consolidating your debts into one lower-interest personal loan will help you better manage your debts. Not only will you be able to lower your overall interest payments and fix a monthly repayment, you will also find it easier to manage just one repayment instead of multiple.

    • To improve your credit score

      Taking a personal loan and refinancing it on time shows a bank that you can be trusted with credit (a.k.a borrowed money). A good way to do so is to take a low-interest personal loan to pay off your credit card balance – this does not just save you money but can also improve your credit score if you make your repayments on time!

    • To pay for a medical emergency

      Your physical health should always be prioritized over your financial health. If you or your loved one does not have a medical insurance when hit by an unexpected health emergency, taking a personal loan is one of the easiest solutions to access the medical treatment needed.

    Read more about reasons to take a personal loan.

  • Per annum (p.a.) Per annum means the interest rate will be charged annually. For example, if you are borrowing RM10,000 and your personal loan interest rate is 5% per annum, your annual interest will be RM500.
    Repayment / Instalment Your monthly repayment or instalment is the fixed amount you have to pay every month for your personal loan. The monthly repayment or instalment is fixed over your loan tenure, and it is made of your principal and interest repayments.
    Default

    If you stop paying your loan for more than 3 months, your loan will be in default, or you have defaulted your loan.

    A default loan will result in higher finance charges and it will also affect your credit score. Late payments will be recorded in your CCRIS, and you may find it difficult to apply for a credit product like a loan or credit card in the future, until the loan has been settled.

    Find out how your credit score is for free through iMoney CreditScore.

    Principal A principal is the loan amount borrowed that has not been repaid. Your monthly instalment is made up of your principal and interest charges.
    Collateral

    A collateral is an asset that you pledge as security for a loan. The asset can be in the form of a house, a car or even the shares that you are holding. With a collateral, you are basically saying to your bank, “I promise to pay you back. You can take my house/car/shares if I don’t.”

    If you don’t make your loan repayments, your bank can legally take your collateral and resell it to recover their losses.

    Guarantor

    A guarantor is someone who agrees to pay your loan if you don't pay your loan. In some cases, the financial institutions may require a guarantor for your loan to enhance your credit standing.

    Anyone can be a guarantor as long as the person can meet the legal

    requirements to be a guarantor, which are:

    • 18 years old or above
    • Not a bankrupt
    • Must be of sound mind
    • Must have agreed to being a guarantor
    Early Settlement Penalty

    You may be charged an Early Settlement Penalty if you pay off or settle your loan earlier than thespecified date on the loan agreement. This is usually estimated as a percentage of the initial loanamount.

    For example, you may be charged RM100 or 1% of your loan amount, or whichever is higher.

    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 theagreed time schedule. For Islamic Financing, the borrower has to pay for this additional fee and itis fixed at the rate of 1% per annum or at the rate stated in the agreement for Conventional Loan.

    However, try to avoid this as much as possible, as it will negatively affect your credit score.

    Tenure

    Tenure is your loan repayment period. The longer your loan tenure is, the lower your monthly repayment will be, but also the higher your interest charges will come up to.

  • You need to be at least 18 years old and below 60 years old. The age requirement may differ slightly from financial institution to financial institution. Use our personal loan calculator above to find which financial institution offers a personal loan that you are eligible for.

  • As most banks require some proof of income, getting a personal loan without a job can be difficult. Even if you get approved, the loan terms and interest rates you receive may not be the best as financial institutions tend to offer better terms and rates for customers with a good credit score and the employed.

  • The minimum age requirement for a personal loan in Malaysia is 18 years old. However, you will need to have a consistent stream of income in order to qualify for a loan. You are eligible to get a personal loan if you fulfill all the criteria below:

    • Aged 18 and above
    • Have an income slip for at least 6 months, with an employment letter
  • As we are unable to process personal loan applications for expats, we advise you to visit a bank branch to apply. However, you can apply for certain credit cards with us. Compare and apply for the credit card which best fit your needs and eligibility.

  • It’s quick and simple:

    1. Use our personal loan calculator to tell us what you are looking for, your basic and employment info. We will then recommend you a list of personal loans that fit your needs and eligibility.
    2. Click “Apply” on the personal loan that you would like to apply for and fill out the application form (your basic and employment info).
    3. We’ll get in touch with you within 1 business day to help you process and submit your application.
    4. You will hear from the bank or provider on your application status.
  • This depends on your employment status, income, and your credit score. The highest loan amount you can borrow through a personal loan in Malaysia is RM200,000, depending on the financial institutions. However, your salary also plays a part in determining the loan amount that you qualify for. As a rule of thumb, a borrower can typically borrow up to four times his/her monthly salary. Use our personal loan calculator to compare and apply for the personal loan which fits your needs and eligibility.

  • No, there are no upfront fees required to apply for a personal loan or to process your application in Malaysia. iMoney services are completely free to its customers. Do contact the authorities if you have been asked by anybody to pay such fees. Read more about loan scams in Malaysia here.

    • Personal loan calculator

      Our personal loan calculator helps you compare and find the best personal loans in Malaysia based on your needs and eligibility.

    • Personal consultation

      Our friendly iMoney consultants will call you to check your eligibility and recommend the right personal loan product with higher chances of approval. The consultants will also help you with your application after you have filled out your details.

    • Apply from home free and online

      Our services are not only 100% free but you can also apply from home (note: some banks may require you to visit a bank branch to verify your identity).

  • The approval process can be as fast as 48 hours to a few days, depending on the bank or loan provider. Check out our list of fast approval loans which can process your application and disburse the loan to you within 48 hours.

  • The interest rate of a personal loan depends on several factors including your income, employment status, and credit score. Use our personal loan calculator to find the personal loan that best fits your needs and eligibility.