Totally agrre with you Ken_HP.....

im just start working for almost 6 month now...basic salary is RM2.5k and got allowances also...working in an MNC company in cyber...wanna make loan around 10k for clearing of CC and also to use the balance for personal use. been rejected by Maybank - reason is high CC usage, CIMB - still haven't work for 6 month, Al-Rajhi - Haven't work for atleast 1 year and dont have CC for atleast 1 year, SCB - Dont have CC for one year....Ive been rejected 4 times within 1 week! i really need to clear my CC becoz i wanna cancel it...Any sifus can help me?

Details bout me:-

Been working since 13th May 2011
Have car loan and ASB loan <- Never late pay
Gross salary RM2500
2 CC from Maybank limit of 5k <- CC own for less than 6 month

Am i not eligible for any PL? can help me get one? really need to pay off my CC

I wonder does any bank offer RM 200, 000 personal loan to non government link company?

Word of advice never take loan to pay off cc. You will be in bigger problem later.

y is that bro? but still i need to clear my cc

hai all, im a newbie at loan and i wanna ask sumthing about car loan, i hope sifu2 can explain to me...

im interested in 2nd hand car, Honda Civic Eg6, price range is 40k, from other information, bank will not loan for an old car, but personal loan can, can i get 40k, and pay for 6-7 years, and still can go eat2 at mcd? or im absolutely wrong about this, hehe, help me sifu!

Yup, u can get cash from personal loan. But before proceed bank have to check for your eligibility first, everything depents on your personal details. Such as your monthly income, ccris, ctos & etc.

Sorry..Which bank is this? Would like to know..

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Added on November 3, 2011, 11:41 pmif i've some late payments but not more than 3 months, can i apply..usually the most is only 2 months. and only happened one time within 6 months. still i apply? which bank are you?

This post has been edited by Saepul75: Nov 3 2011, 11:41 PM

from my point of view bro, personal loan interests is multiple times higher than cc interests.

how come ? cc interest rate is 13.5%-18% pa. personal loan now is about 8.5% - 12%. right ?

Have u heard about reducing balance interest and flat rate?cc is on reducing balance.rule of thumbs is for example if reducing balance interest is 10% then flat rate interest rate is roughly 5%,but of course this is just rule of thumb,the exact value is a function of the tenure.

actually RHB got how many type of pl?i heard forumer here say apply juz need mykad but i went there they ask for income document.rhb easy and normal pl got different?i got cc more than 1 year but not from rhb

This post has been edited by nokiaXP: Nov 9 2011, 05:37 PM

i just got stuck with bank islam home loan..the bank exceeded the 3+1 s&p period.... due to that owner wanna charge me 4% per day ....

the house only 88k ... i'm thinking taking personal loan which public bank offer me with 5.2% flat rate so that the owner dont charge me the interest due to bank late...

what u guys thinking ?

Personal loan (5.2% interest ) for 20years...installment rm 950 .... what if during 10th year of paying, i want to make settlement ...how much more i need to pay ??

really need help here ....

you work as government staff ?

if 20 yrs, settle after 10 yrs, normally calculate the balance of months x 950 then minus 15~30% (early settlement and depend to the bank). This calculation normally use for KOPERASI that able offer tenure 20 yrs.

ya ...i'm gov staff...

how they actually calculate it ?

my loan 100k @ 5.2% ...installment rm950

20 year = 220k

after 10y i've pay = 114k

at this 10 year, i want to settlement = how much i need to pay ??

any opinion ??

For example, you loan tenure 20 year

Balance 10 years = 120 month

120 x 950 = 114,000

114,000 - 15% (depends bank rebet how much, 15% just an example) = 96900 (full settlement)

house loan or personal loan? Pl 5.2% eir is like 9.77% after 10yrs still got at least 72k outstanding where else if house loan after 10yrs with 950 @5.2% (you can get better rate) left like 18k. so pls find some other bank to finance the house

Just wanna share my experience with you guys..

Kenshin1 roughly knows what he is saying. Good advice from him.

Im 25 years old and working in the private sector.

My salary is 5k per mth and 5.5k if plus allowance.

Got 3 credit cards - 5k limit each. Total 15k limit. (already used for 1 year 6 months) - all cc got outstanding.

I also have a car - paying RM580 monthly.

Also just bought a house - paying 1250 monthly.

My CCRIS record is the best in the planet! Haha just kidding.. but definetely the best in my Taman ok.. haha! I dont have "1", "2", "3" all.. all my loans and credit cards record shows constant "0" (which means prompt paymaster) for more than a year. (ps. im a former BNM subsidiary employee, so i know how important is the need to have good CCRIS record)

Now i need to apply for about 20-25k loan. Been applying for a quite a while - RHB Easy rejected, CIMB XPress rejected, HSBC rejected, stan chartered rejected, OCBC rejected, bank islam, MBSB, & bank rakyat all offer for gov workers only. All banks couldn't give me reason for the rejections! Now im trying AEON and Maybank.. Hoping that either one will be approved.

I think they have something about me being 25 yrs old only. Maybe they are scared that im too young and wont be able to maintain my finances! Kinda pissed with all the banks now! Good credit record, prompt paymaster, ok salary but still they dont want to approve my personal loan!

Sigh... just sharing my experience.. Good luck to others!

Did u manage to pass the 1st stage approval ? ( AIP )

i think the rejection have got to do with your car loan and housing loan, both are long term commitment, if you do not have both, you might easily get your personal loan approve. well, just my assumption.