My friend's experience (I was asking him because I was looking to borrow):-

Approved PL from HLBB. 20K for 5 years 7.5% p.a (reducing balance). He is a sole proprietor but in business for 5 years. Income is RM6500 per month (this is his average income according to the banker but his collection is about 15-20K) and has one housing loan of RM380K which he is paying about RM2K per month. A car which he is paying about RM800 per month. He has credit card debt of about RM15K which he pays 1-2K per month. He said he used the PL to pay the credit card as the interest rate was lower. He said the installment is RM460 but he pays RM1K every month.

This post has been edited by cynthusc: Mar 6 2014, 05:12 PM