i assume u do not have a business yet.

considering u want a loan to start a business - the quickest and most feasible option u have is to apply for a personal loan, under your capacity as a salaried worker. The banks won't care what u use the loan for, as long as u have the capacity to pay.

however - if u r unemployed, and intend to start a business - IMHO, no banks will bother entertaining u.

the best bet u have then would be to approach SMIDEC (google it if interested pls)

This post has been edited by Phoeni_142: Feb 12 2009, 05:13 PM

Hi Guys,

I'm interested for applying PL,
My salary is 2.5k
Fresh grad but had working for 9 month
Never had any CC or Housing loan.
Do i meet the min requirement?
if so which bank is the easiest to get

Tough, very tough.

About half the banks out there - u don't qualify already. Most of them need to see at least 1 year CCRIS record. Long story short - u must have a credit card for at least 1 year.

If u r a government servant - try Alliance, Bank Rakyat or Ambank.

if u r a non-govn employee - think your best bet is with RHB. I'm quite sure the foreign banks are out. However, if u do get an approval from a foreign bank - pls let me know.......it'll be interesting to know that some of them have adjusted their credit policies.

bank rakyat for government servant.. my salary also around 2.5k.. only work for 6 month. 30k approved! aii I guess sometimes I should support government

Er - i don't think that's particularly good. Perhaps u should rethink your financing options.

Alliance is offering at 5% promotional rate now - yes, for government servants via salary deduction.

Bank Rakyat is charging u more. I know that for a fact.

Secondly - I hope that 30K is what u needed, correct? Because u actually qualify for a loan of 150K with your current salary.

Scary huh? 2500 salary can get 150K loan.

PS - I am in banking - but I'm not a salesperson.

This post has been edited by Phoeni_142: Feb 20 2009, 12:35 AM

I do ask alliance... but they quite strict.. at least "sudah disahkan jawatan" or had working for more than 1 year (can consider, not 100% approved)

blurffy 83. wat is the rate of bank rakyat provide to u?

sorry - u mean u worked for 6 months and not confirmed yet? pls clarify.

If anyone of you is interested to apply for personal loan, I have contacts inside Hong Leong Bank which I believe will be able to assist you. Currently the bank is offering 1% monthly interest rate.

For more information, please visit HLB's personal loan website page: http://www.hlb.com.my/pfs/loanpl_f.htm

Do PM me if and leave me your number if you are interested. I will get back to you as soon as possible.

If anyone of you is interested to apply for personal loan, i am cimb bank personal loan advisor for goverment sector.which I believe will be able to assist you.

Do PM me if and leave me your number if you are interested. I will get back to you as soon as possible.

[quote=Icehart,Feb 20 2009, 03:49 PM]
If anyone of you is interested to apply for personal loan, I have contacts inside Hong Leong Bank which I believe will be able to assist you. Currently the bank is offering 1% monthly interest rate.

For more information, please visit HLB's personal loan website page: http://www.hlb.com.my/pfs/loanpl_f.htm

Do PM me if and leave me your number if you are interested. I will get back to you as soon as possible.


hi,i would like to apply personal loan.can u reply me as soon as possible by e-mail.

Hi guys. Reading through the thread. I need to know anyone got the info on which bank is offering repayment tenure starting from minimum of 1 year instead of most of the banks required min 2 years. Also what is the best rate from which bank is currently offer?

Thanks for sharing info.

I spoke to a HLB personal loan officer two days ago.

According to him on the current promotion, if i apply for a 10k PL, no other surcharge but only RM50 for stamp duty/admin fee up front which mean i will get RM9950 in this case.

On other note, he told me that most of the PL T&C stated that 20% or more will be reflected on the loan amount itself. Meaning to say if i loan for 10k so i will only get 8k minus the admin fee in other banks. How true is this?

This post has been edited by popsoul: Feb 23 2009, 11:00 AM

Hi guys, i am interesting in HLB personal loan too, according to the web page, i can apply the loan with supporting document Photostats of IC/Credit Card, but the actual application form asking is Photostas of IC/Proof of Income/Business registration form, so can i still apply the loan through IC and Credit card?

Peeps,

be careful when applying for HLB loans, ok?

1% per month is the flat rate - this implies 12% flat rate per year....it's charged like Hire Purchase style.

12% flat rate = effective rate of 20.3%!!!!!!!!!!!!!!!! MORE THAN CREDIT CARD INTEREST!!!!!

Do not be mis-sold by any personal loan agents all right? cheers.

The interest rate for Hong Leong Bank personal loan stood at 1% flat rate monthly so the annual interest rate is at 12% per annum. Can you provide me the calculations on how you are getting 20.3% instead?

Let me put it to u this way

Yes, 12% is the per annum rate.....However, this is a flat rate. It is NON REDUCING BALANCE.

The effective interest rate is 20.3%. (This takes into account reducing balance) U can use the RATE formula in Excel to calculate it. It's a function of your loan amount, monthly repayment and tenure (yrs).

If in doubt - ask the sales agent directly. I'd be very worried if he or she does not know the difference between flat rate and effective rates.

It is misselling if u quote 12% directly. It's grounds to complain to Bank Negara, ok?

i got preapprove loan from citibank with interest rate of 9.8% base on my good credit card repayment record.... is that rate good ?

Depends again - is 9.8% the effective rate (reducing balance) OR is it a flat rate?

kindly clarify with the sales agent, and pls don't be missold by him or her.

If it's 9.8% effective rate - IMHO - it's a good rate.

Citibank used to be 7.9% flat