sometimes i just wondering many lyns wanna to apply loan, instead of checking forums to ask arround why dont just check through website to see their rate and info, at least you got better guidline rather than just heard ppl say about this that piece here piece there.

Our Al Rajhi Personal Financing-i offers:
HIGH trade limit up to 5 times your monthly salary or RM150,000 whichever is lower
LONGER repayment period of up to 5 years
MINIMAL documentation.
NO guarantor.
NO penalties for early settlement
In Compliance with Al Rajhi Bank (Malaysia) Shariah Standard

Requirements
Open to all Malaysians aged 21 and above
Minimum gross salary of RM2,000


To apply:

Step 1 – Fax or email your NRIC, Military ID or Police ID and the Personal Financing-i application form to Al Rajhi Bank

Fax No: 03-23326111
Email address: Credit.Processing.Unit-HOTLINE.RCO@alrajhibank.com.my

ty for ur info..i already seen the site..purpose im asking here is bcoz i dont understand about the interest part..maybe here have someone who expert or well known bout this things....or maybe can give a good opinion..thats why we discuss here...espcially for noob in finance like me who dont have any basic in this matter...

If u wish to start any business or to enhance yr existing working capital, u have my full business mate support. As for better rates, for me any banks that deal under conventional rates....all sama...mcm jerung. For me I recommend any loans thats impose Islamic rates.

i'm currently stil studying but i wanna apply loan to build a business... can somebody help me out here???... beside have a guarantor and ah long...

You do not have income but you want to borrow? I think it'll be tough unless you have a guarantor.

standard chartered bank personal loan is having the best offer now
0.71% per month, no guarantor, no collateral needed
furthermore they are doing offer now which is no processing fees + free insurance
i have a friend who is doing standchart personal loan
give him a call 0174802168 (Mr. Foo)

HSBC - 0.85%
HongLeong - 0.823%
Citibank - 0.9%
Alliance - 0.99%
OCBC - 1.2%

p/s : BLR have nothing to do with personal loan, unless the personal loan is not under SAADIQ (islamic loan) and the BLR now is 5.55%

r u applying this loan? do you hav any more info to share for the standard chartered 0.71% *Terms and conditions apply ?
after checking the loan repayment schedule, there got Interest Rate 8.50% 10.00% 11.25% 13.50% 17.00% which very much confuse.

a few weeks ago i went to standard chartered. the officer told me that the rate that they are offering is based on our credit record. if we have a clean record with promp payment, they will offer us the lower rate. if we dont have a very clean record, the will be offering higher rate. she said that it is very unlikely we can get the 0.71%. just call them to know more.

just wanna crarify....

is it a good idea to take a personal loan to payoff my credit card statement

the Answer is NO

if you make prompt payment every month, let say the minimun is rm50, but u make at least rm200/month in the end, you can save more compare to the fixed interest from personal loan.

but what if you were to take personal loan and settle for a superbike which is around extra RM15K cash needed. As superbike seldom have loan. Is it worth it?

For me, if I really want a superbike or any expensive toys, I will save for one or two years.

hi i wanna to ask
i have a personal loan with ocbc...
if i want to do early settlement,

i need to pay principle + all interst

or

principle + interest (till the day i settle it)

thats the idea in me eventually. Have been saving for quite long and recently got quite a good deal and just lack of 10-15K to go..haih...

This post has been edited by InfinityGT: Apr 21 2009, 02:38 PM

If for simple explanation, u just need to use the flat rate x 1.7 times, then u will roughly get the effective rate.

Hi guys,

Any govt servant wana apply for personal loan??

Alliance bank giving 5% fixed!!

veen
veen_0809@yahoo.com

Guys, don't just look at the interest rate of the personal loan.
Pay more attention on the *terms and condition part.

I was eyeing to get a loan of RM80K, then i saw this advertisement offered from a local bank, it is 1% flat for personal loan, minimum is 50K.


So i was so excited, 1% --> it will mean RM500 only for interest! But after i look at the repayment and calculate the total interest, my eyes pooped!

They requirement loan repayment period of 5 years, and RM1333.33 installment each month, if u sum up,

RM1333.33 x 12month x 5 years = RM79999.80!!!!

Interest = RM29999.80 ! but advertisement interest = 1%*

This post has been edited by ohserena: Apr 22 2009, 12:22 AM

should be 1% flat per month.

Hi,

I have came across the bank islam's new promotion advertisement for PL.
5.1% p.a

i have made the following calculations:

--------------------------------------------------------
loan amt - RM20K
repayment tenure - 3 years
int rate (flat) p.a. - 5.1%
mth repayment - RM640.56

simple rate p.a - 9.49%
EIR - 9.91%

--------------------------------------------------------

is it correct to use the EIR (9.49%) here to compare with the credit card rate (13.5%)?
if tat is correct, is it worth to take PL?

thanks.

Not really.
You have to bare in mind that Credit Card interest is on reducing balance.
You just need to compare it in excel and do a simple calculation side by side.
Couple of us did it before in the previous pages and seems that CC mostly won over UPL. That is if you have the discipline of not to spend further after you repay.