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 want to apply a personal loan, for car loan purpose

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TSmickey1991
post Mar 30 2014, 12:36 AM, updated 10y ago

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For my case.
I'm a fresh graduated .
Wanna to apply loan for 35k ,
can i ask what is the condition and how apply? i can't search any for it
foohoa
post Mar 30 2014, 12:43 AM

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no income, how can they approve you 35k?
TSmickey1991
post Mar 30 2014, 12:47 AM

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i got a income. RM3000.
just without the EPF first. that's why i asking who doing the loan financing
Xander-G
post Mar 30 2014, 12:50 AM

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walk in any bank and ask for PB.

TSmickey1991
post Mar 30 2014, 12:51 AM

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thats why i thought any senior can help me here.
if you guys can't help me. dont just give a comment that help nothing.
let who able to help to comment. thanks
MilesAndMore
post Mar 30 2014, 11:25 AM

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You want to apply for personal loan to buy a car ? Looks like you are looking at the wrong type of loan. You should go for hire purchase instead.

So, go to any car showroom, choose the car you like, put down deposit and then submit your income documents to the salesman. He will take care the rest for you. Good luck!
funnybone
post Mar 30 2014, 11:29 AM

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From what I was told, a bank will allow the personal loan amt, 5x of your salary
fornax
post Mar 30 2014, 11:39 AM

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Yeah , since you're fresh grad and income 3k, i highly doubt they will approve you more than 4-6 times.
TSmickey1991
post Mar 30 2014, 01:24 PM

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QUOTE(fornax @ Mar 30 2014, 11:39 AM)
Yeah , since you're fresh grad and income 3k, i highly doubt they will approve you more than 4-6 times.
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approve you more than 4-6 times? mean?
y3ivan
post Mar 30 2014, 01:31 PM

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TS only 3k salary wanna get 35k loan? looks like bad financial times for you in the future..
shankar_dass93
post Mar 30 2014, 01:50 PM

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QUOTE(mickey1991 @ Mar 30 2014, 12:36 AM)
For my case.
I'm a fresh graduated .
Wanna to apply loan for 35k ,
can i ask what is the condition and how apply? i can't search any for it
*
Hi there,

The bank would require various documents from you such as 3 months pay slip, credit card statements, savings and amount of collateral that you're willing to pledge.

The maximum amount of debt thats an individual could have would be about 1/3 of your salary. Presuming your cc cards are all paid in full, with a salary nett salary of RM3K per month, you should be able to be given a loan that has a monthly repayment of about RM1000 (which includes principal + interest).

So yeah i guess the bank would be happy to grant you with a loan of RM35K if you have a clean record.

Hope this helps icon_rolleyes.gif
TSmickey1991
post Mar 30 2014, 01:53 PM

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QUOTE(shankar_dass93 @ Mar 30 2014, 01:50 PM)
Hi there,

The bank would require various documents from you such as 3 months pay slip, credit card statements, savings and amount of collateral that you're willing to pledge.

The maximum amount of debt thats an individual could have would be about 1/3 of your salary. Presuming your cc cards are all paid in full, with a salary nett salary of RM3K per month, you should be able to be given a loan that has a monthly repayment of about RM1000 (which includes principal + interest).

So yeah i guess the bank would be happy to grant you with a loan of RM35K if you have a clean record.

Hope this helps icon_rolleyes.gif
*
yes.
from what you explained. i can understand deeply.
hmm.
for example.
my credit now currently limit is RM7500 using HSBC platinum card.
so if i apply loan from HSBC would it be much more easier than other bank since they already got my neccesary document inside my credit card?
shankar_dass93
post Mar 30 2014, 01:59 PM

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QUOTE(mickey1991 @ Mar 30 2014, 01:53 PM)
yes.
from what you explained. i can understand deeply.
hmm.
for example.
my credit now currently limit is RM7500 using HSBC platinum card.
so if i apply loan from HSBC would it be much more easier than other bank since they already got my neccesary document inside my credit card?
*
I don't get what it has to do with your credit limit.
My question now would be is your card paid in full or is there any outstanding balances ?

Yeah i guess HSBC would be happy to grant you a loan if you met the requirements above that i had informed you about. Im not really sure on whats the current loan rate for cars but a friend that was planning to get a proton a few days back said that banks are increasing their rates for cars. My suggestion to you would be to shop around for the best rate and choose from there.
Axantas
post Mar 30 2014, 03:23 PM

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QUOTE(mickey1991 @ Mar 30 2014, 01:53 PM)
yes.
from what you explained. i can understand deeply.
hmm.
for example.
my credit now currently limit is RM7500 using HSBC platinum card.
so if i apply loan from HSBC would it be much more easier than other bank since they already got my neccesary document inside my credit card?
*
That's the lowest credit limit that I had ever heard for a platinum card. When I was offered mine previously, it came with 60K. You sure it's platinum.

Graduate with a salary of RM3K without evidence in KWSP shouldn't be a problem. Is your salary being paid by banking account?

Usually, the bank approved personal loan by 3-5 times your existing salary. (Net paid)

QUOTE(shankar_dass93 @ Mar 30 2014, 01:59 PM)
I don't get what it has to do with your credit limit.
My question now would be is your card paid in full or is there any outstanding balances ?

Yeah i guess HSBC would be happy to grant you a loan if you met the requirements above that i had informed you about. Im not really sure on whats the current loan rate for cars but a friend that was planning to get a proton a few days back said that banks are increasing their rates for cars. My suggestion to you would be to shop around for the best rate and choose from there.
*
Well, credit card's credit limit has everything to do with strengthening the application of personal loan. If your cc's credit limit is RM7.5K, you are guaranteed a personal loan of RM7.5K without much difficulty. Anything above is subject to the client's relationship with the bank.
TSmickey1991
post Mar 30 2014, 04:09 PM

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QUOTE(Axantas @ Mar 30 2014, 03:23 PM)
That's the lowest credit limit that I had ever heard for a platinum card. When I was offered mine previously, it came with 60K. You sure it's platinum.

Graduate with a salary of RM3K without evidence in KWSP shouldn't be a problem. Is your salary being paid by banking account?

Usually, the bank approved personal loan by 3-5 times your existing salary. (Net paid)
Well, credit card's credit limit has everything to do with strengthening the application of personal loan. If your cc's credit limit is RM7.5K, you are guaranteed a personal loan of RM7.5K without much difficulty. Anything above is subject to the client's relationship with the bank.
*
if my bank dont have every month income for 3k? but my pay slip wrote is 3k ?
and my bank inside have above 30k...
Axantas
post Mar 30 2014, 04:16 PM

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QUOTE(mickey1991 @ Mar 30 2014, 04:09 PM)
if my bank dont have every month income for 3k? but my pay slip wrote is 3k ?
and my bank inside have above 30k...
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To be honest, your chance of getting your loan approved is less than 50% unless you have a healthy relationship with your HSBC officer.

Bank requires supporting document that show your payslip is real.

By the way, your credit card, is it supplementary card?
TSmickey1991
post Mar 30 2014, 04:38 PM

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QUOTE(Axantas @ Mar 30 2014, 04:16 PM)
To be honest, your chance of getting your loan approved is less than 50% unless you have a healthy relationship with your HSBC officer.

Bank requires supporting document that show your payslip is real.

By the way, your credit card, is it supplementary card?
*
no. that is not supp card.
i have the supporting document as las time my epf was in from there.
that company is my aunt company. so it's easy if they give a call and company can verify my identity..
shankar_dass93
post Mar 30 2014, 04:59 PM

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QUOTE(Axantas @ Mar 30 2014, 03:23 PM)
That's the lowest credit limit that I had ever heard for a platinum card. When I was offered mine previously, it came with 60K. You sure it's platinum.

Graduate with a salary of RM3K without evidence in KWSP shouldn't be a problem. Is your salary being paid by banking account?

Usually, the bank approved personal loan by 3-5 times your existing salary. (Net paid)
Well, credit card's credit limit has everything to do with strengthening the application of personal loan. If your cc's credit limit is RM7.5K, you are guaranteed a personal loan of RM7.5K without much difficulty. Anything above is subject to the client's relationship with the bank.
*
Learnt something new. Thanks thumbup.gif
TSmickey1991
post Mar 30 2014, 05:05 PM

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yea i know if the rm7500 personal loan.
but what i want is like hire purchase.
or something like this 1..

http://www.maybank2u.com.my/mbb_info/m2u/p...sonal/LOA-Loans

anyone know what is the final payment mean?
Axantas
post Mar 30 2014, 08:06 PM

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QUOTE(mickey1991 @ Mar 30 2014, 05:05 PM)
yea i know if the rm7500 personal loan.
but what i want is like hire purchase.
or something like this 1..

http://www.maybank2u.com.my/mbb_info/m2u/p...sonal/LOA-Loans

anyone know what is the final payment mean?
*
Final payment is the difference in sen accumulated. Assume the average monthly repayment by calculation is RM 387.48. They might just ask you to pay RM 387.00 or RM 388.00. The difference in sen accumulated along the duration of your loan repayment accumulated, and to be paid in the last installment.

As far as I understand, the MBB is only applicable to Proton, Perodua and Naza. (I can't confirm this as I am no banker, just a VC that always deal with bank)

Let me give you some insight if you want to gain certain wealth. Don't buy that car, grab the government RM 30,000 free money for house instead.

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