Question 1

Which bank has the lowest personal loan rate in Malaysia 2026?

Accepted Answer

Bank Rakyat offers the lowest rate from 3.42% p.a. (fixed, civil servants via BPA salary deduction). BSN MyRinggit-i starts from 4.60% p.a. for government employees. For private sector employees, Public Bank offers from 5.88% p.a., followed by Maybank (6.50%), CIMB (6.88%), and RHB (6.99%). Rates depend on loan amount, tenure, and credit profile.

Question 2

What is the maximum personal loan I can get in Malaysia?

Accepted Answer

Maximum personal loan amounts: Bank Rakyat RM400,000 (civil servants), BSN RM400,000 (government), CIMB RM150,000, RHB RM150,000, Public Bank RM150,000, Maybank RM100,000. Your actual maximum is capped at 8–10× monthly salary subject to DSR (Debt Service Ratio) of 60–70%.

Question 3

What is the minimum salary for a personal loan in Malaysia?

Accepted Answer

Minimum salary requirements: BSN RM1,500/month, Bank Rakyat RM1,600/month (civil servants), Public Bank RM2,000/month, CIMB RM2,000/month, RHB RM2,000/month, Maybank RM3,500/month. Civil servant-specific products (Bank Rakyat, BSN) have lower thresholds because repayment is via automatic salary deduction (BPA), reducing default risk.

Question 4

Is a personal loan flat rate or reducing balance in Malaysia?

Accepted Answer

Most Malaysian bank personal loans use flat rate (kadar rata). Flat rate means interest is calculated on the original principal throughout the tenure — e.g., RM50,000 at 7% flat for 5 years = RM3,500 interest/year × 5 = RM17,500 total interest. Bank Rakyat and BSN Islamic financing uses profit rate on reducing balance. Always check the Effective Interest Rate (EIR/EAR) when comparing — a 7% flat rate is roughly equivalent to 12–14% effective rate.

Question 5

How do I qualify for a personal loan in Malaysia?

Accepted Answer

Eligibility requirements: (1) Age 21–60 years, (2) Malaysian citizen or permanent resident, (3) Minimum salary (varies by bank, RM1,500–RM3,500), (4) DSR below 60–70% (total monthly debt ÷ gross salary), (5) Good CCRIS/CTOS credit record, (6) Documents: MyKad, 3 months payslip, 3 months bank statement, EA form. Civil servants additionally need letter of service / appointment letter.

Question 6

What is personal loan settlement (penyelesaian awal)?

Accepted Answer

Early settlement (penyelesaian awal) means paying off your personal loan before the end of tenure. In Malaysia, banks must grant an interest rebate calculated using the Rule of 78 method. You pay only the outstanding principal minus the unearned interest rebate. Most Malaysian banks charge no early settlement penalty for personal loans (unlike hire purchase). Use our Personal Loan Settlement Calculator to estimate your outstanding balance.

Monthly	10 yrs	20 yrs	30 yrs
RM300/mo	RM61k	RM228k	RM678k
RM500/mo	RM102k	RM380k	RM1.13M
RM531/mo	RM109k	RM404k	RM1.2M

Personal Loan Calculator Malaysia 2026

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Personal Loan Rate Comparison Malaysia 2026

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RM500/Month for 30 Years = RM1.13M — via S&P 500 at 10% p.a.

Related Calculators

Bank	Rate From	Max Loan	Min Salary	For
Bank RakyatLowest Rate Personal Financing-i (Public Sector)	3.42%	RM400,000	RM1,600	Civil servants
BSNLowest Min Salary MyRinggit-i (Public Sector)	4.60%	RM400,000	RM1,500	Civil servants
Public Bank Personal Loan	5.88%	RM150,000	RM2,000	Private sector
Maybank Personal Loan / Financing-i	6.50%	RM100,000	RM3,500	All employees
CIMB Cash Plus Personal Loan	6.88%	RM150,000	RM2,000	All employees
RHB Personal Financing	6.99%	RM150,000	RM2,000	All employees