I think the lowest interest rate is BSN.
They have merdeka promotion from 1 july to 30 sept 07.
check it out.
* 5.35% for 2 to 5 years.
* 5.75% for 6 to 10 years.

http://www.bsn.com.my/1-KempenMerdeka.html

thanks for this info, NoW we know Flat Rate is not exactly a Flat Rate.
EIR is the exact one.

Great Info

Infos on Public Bank Personal Loan :

Existing PB's Loan Customer @ BFR + 1.0% / 0% pa (daily rest)

http://www.pbebank.com/en/en_content/perso...amic/pbpfi.html

Government Servant @ 5.7% pa

http://www.pbebank.com/en/en_content/perso...lamic/bpfi.html

if the bank fixed rate is 10% p.a on RM 10k loan for 5 yrs
it mean this:
1.interest is calculate base on the loan amount?which is the amount of interest for 1st/2nd/3r/4th/5t years is fixed on RM 1000 p.a.Borrower end up paying RM 15K?

am i correct?

Yes ! you r right !

it should be RM 960 pa because its 0.8% per month.
So the total interest rate for 5 years = 960 * 5 years = RM 4800

Processing fee = maybe RM 200

total loss = RM 5000.

Well i don't know about you guys.
But i still think RHB rate is the lowest. U may try calculate RM10k for 12% reducing balance rate for 5 years.

The total interest is just RM3,346.67 during that 5 years and processing just RM100

But of cos if u early settle the thing then penalty RM100.

Anyone if interested i may ask my friend to assist on your application since they are handling this personal loan matter.

This post has been edited by pepper_mint2: Aug 15 2007, 12:52 AM

It is applicable for ppl that can pay the loan through salary reduction via Angkasa. So, mostly Gomen employees can apply for the loan. Same as Bank Rakyat.

usually non gov worker hard to get rite? and i don't know but they said RHB no guarantor needed as long as they think u able to pay the amount then they approve it only. I got a few friends already applied for it and approved as easy as that. But preference up to each individuals of cos.

Govt employees (err... servants) are considered low risk as no sudden service termination, no VSS stuffs, never heard of salary cut and they hardly change jobs. Easier and low risk to give them with loan with low interest. Correct or not? RHB - i dunno much but i knew their 12% reducing balance thingy.

One of the thing to consider is the convenience and cost of paying the monthly installments. Going to the bank to pay instalments incurs cost in terms of fuel, parking, risk of parking summons, MIA from office and loss of opportunity to make more money for businessmen. Online banking sure got rm2 charges as well for inter-bank transactions. So, lower interest rate eg. 0.1% may not be that much savings in the end if the bank is so far away from your location. Do cost benefit analysis first then make your decision.

pepper_mint2, is your friend still in RHB doing personal loans? If so can you PM me please?

Thanks.

Al Rajhi is currently promoting Beraya Bersama PL. Only bring Mykad, credit card. The amount based on credit card limit. 8% per annum. what do u guys think? Is it good? I'm thinking of getting it to get rid of some debts especially credit cards (18% per annum)....

Hi... newbie here... for those who wants to apply for personal loan to settle credit card debts, u can actually do balance transfer to Hong Leong's credit card as they have an offer of 6.99% per annum. And I heard from a fren working in StanChart that their PL is 8.5% per annum.

try using OD facility or refinance way much cheaper than PL

Which bank offers personal loan to salary below RM1500?

Merged topic, as talking the same issue.

Don't think about it. With that income range, unless there is a big need, kindly don't go dig your own grave

Hi,
Im just curios is any bank out there will give me personal loan with my curent income/expenses..
I want to take personal loan to settle my cc debts and then cancel my credit card..enuf already wif all pain..
Can anyone here most probably personal loan agent or anyone give any advice?

Gross Income : 2400
Net Income(after kwsp) : 2136

Car Loan : 700
Asb Loan : 156 (Im going to terminate this January next year since I need bonus from this)
CC Debt : 600 (going to cancel all my credit card once finish payment)

so my net salary after all expenses is 680.
Im planning to take personal loan and settle my cc debt and paying around 200-400 for personal loan,its
better than paying 600 for cc debt.

So,is my chance to get personal loan high?
Any personal loan agent can help?

Please help and thanx!

One more thing is those "Peminjam Wang Berlesen",are they Ah Long? Their company name even registered with government.

This post has been edited by wuszhtag: Sep 21 2007, 11:55 AM

I think Al-Rajhi 8% is flat rate, therefore not comparable to 18% of credit card. Go and ask how much the repayment for say 10,000 for 3 years is then we can compare.

I am trying to find a loan of RM10,000 for a short period of about 1 or 2 months only to exercise my company's IPO. Which personal loan do you think its the best in terms of early settlement.