Hi there,

Is it possible to apply 2 personal loan at one time. For example 25K from one bank and another 25K from different bank.
I don't think one bank can give me 50K at one time, due to the salary limit.

Please let me know.

once the 1st bank approve your loan, it will appear under cicris report by BNM.
then the 2nd bank will check cicris report. its all subject to their approval.

if your salary limit just allow u to apply 25k max. i don't think the 2nd bank will approve.

i actually have a personal loan with standard chartered bank. its a 2 years loan. i have been paying for 18 months. 2-3 days ago, i called them to enquire about personal loan. suprisingly, they told me that i can apply another personal loan with them as long as my previous loans is more than 6 months old! that means, i can have two personal loan running simultenouusly from the same bank. that is strange i think...anyway, i just try my luck..maybe i will know if i get approved or not by this tuesday since monday is a public holiday. how they calculate the max amount i can apply for is either:
1. monthly salary times 5
or
2. highest credit card's credit limit (must be 3 years or more) divide by 2 and times by 5
they only require ic only. everything is done by phone and fax. btw, you need to have a good paying record

i think standard chartered has the lowest interest rate (exclude those personal loans for 'gomen' people) plus no processing fee. the downside is very few branches

This post has been edited by azam_halim: Mar 6 2009, 11:52 PM

how much is stanchart rate ? i wanna apply 50k also n thot of doing the same thing, split with 2 banks.

standard chartered got so 3 types of personal loan..
cant tell any different about it?
still havent got time to check the branch

Phoeni_142,

i need advise frm u..i want to apply for PL around 5k. gross salary 1.7k.am currently working in private company for 4yrs...so far no CC n no loan applied before.

can u suggest me which bank offers lower interest and fast approval...tnx in advance..

Dear Bonitachikas,

You can try OCBC bank, and if your salary RM 1.7K, you can borrow 5 times from your salary, meaning = RM 8500. maybe you can give a call to OCBC bank for inquiry & term/condition applied.

I could be wrong, but from my experience - your loan application will be declined, as it is below most income thresholds + you do not have any previous unsecured loan history.

Do try OCBC or SCB if u really want a personal loan. I'm not too sure if they can give allowance for deviation approval in your case.

Another alternative is for your to apply for credit cards (shouldn't be a problem) since u have a clean credit history - and then asking for a Cheque on call or Fast Cash feature. slower TAT, but u should get access to credit here.

Would like to share some rates that I have...

BSN-6.50%
BIMB-7.00% (5YRS-6.80%)
ALRAJHI-8.50%
STANCHART-8.50%
UOB-8.50%
OCBC-9.50%
EONBANK-12% (3YRS-9%)
CITIBANK-9.18%
HSBC-10.50%
HLB-12%
RHB-12% REDUCING

which bank i should try le?

my salary 2.7 + allowance = 3k++

hmm...

I thought Citibank is 8.4% and Al-rajhi is 7.99%?

citibank i also not too sure, u maybe right.

alrajhi, 7.99% only for weekend. n i think this week is last weekend.
normal rate is 8.50%

u called them eh?
website said 10.75% p.a

but, yeah..website always give not so accurate infos

i agree with ur 1st statement..most of the bank declined my application..i've tried SCB also declined...Eon as well..

if i take CC and ask for the Fast Cash withdrawal what are the maximum for my salary...

Try to look at Bank Rakyat as well. Their rate normally very competitive especially for government servant. My wife is getting <6% 3 years ago. Not sure the rate now.

bank rakyat is now offering 5.95% interest for non-ahli (non government servant) for 15 years loan.

anyone who is interested to loan more than RM50K and doesn't have the salary to apply can PM me, we can make arrangement for those ppl who only have a monthly income of RM1500 to apply for max RM150k loan (with T&C of course)

Just FYI, only those who has a monthly income of at least RM1500 and 3 months of payslip, EPF records, bank records or J forms are eligible to apply.

Anyone who are interested to apply this loan, and use it to invest into other bank's savings plan can contact me, this actually is a very good opportunity, because u are using bank's money to earn profit.

If u take the savings plan (like for example, AMBANK ASSURANCE savings plan), the bank gives u 10% interest per year, and the loan's interest is only 5.95% per year, so u are actually earning money every year u pay the loan.

bro, that 5.95% interest is NOT effective rate right ?
i'm interested with the bank rakyat...how to contact you ?
salary 6k. docs all got. how much can loan n how long n how fast ?

Wah! Very good rate 5.95% only. What is the rate for government servant?

That's a very misleading statement. 5.95% is actually the flat rate. The effective rate is actually 10.2%. So, please don't give the readers the impression that it's only 5.95%. If you're a sales person, you should know the difference between flat and effective rates.

Secondly, what savings plan of 10% is this? I check with Bank Rakyat regularly - they did not know of such a plan. Can u share some light on this? I would love to be wrong on this 10% savings plan. I'd personally put some of my own cash there.

tx.

---

Added on March 13, 2009, 3:05 pmevery bank out there quotes flat rates except for RHB which is on reducing balance.

your 5.95% flat rate is actually 10.2% effective rate.

Same goes with your Citibank and SCB and OCBC - don't be suprised if u are paying more than the 18% credit card interest.

---

Added on March 13, 2009, 3:08 pmbe prepared to ask your HR for consent to cut your salary. Some people may want this to be a private affair.

Long story short - your HR department must send a cheque to Bank Rakyat every month for your monthly installment.

Your salary which is banked into you account, will be less of the loan installment.

Anyone from Bank Rakyat which says otherwise - either doesn't know their own product well, OR is misleading you.

This post has been edited by Phoeni_142: Mar 13 2009, 03:08 PM

How do you calculate to arrive at this figure?

My wife have bank rakyat personal loan a few years back, I think it does not charge interest as what you says.