hi ther,

based on the information you had given. the highest posibility of rejection is you dont have any credit cards.

application for personal loans are clasified as unsecured loans(high risk loans). so they will need to evaluate your pass credit records on unsecured types of facilities. best example: repayment records on credit card. credit card are a type of unsecured facility.

without credit records, bank cant evaluate the risk of repayment default.

even people with car loans/house loans, but they dont have any unsecured facility, banks cant evaluate their repayment records based on their car/house loans. as car/house loans are secured facilities.

personal loans are very sensitive & risky. the banks evaluate every possible factors.

if you are a degree holder, i believe i can help you

This post has been edited by ahnien: Nov 12 2009, 09:34 PM

may i know what difference it made if 1 is a degree holder?

i dont know about other banks but, for my bank.

ther's an exception if you dont have any credit card/pass credit record/lack of credit records. the requirement is that the applicant is a degree holder

reason: its not about the education, but its one of the factors how banks evaluate risk for unsecured loans. degree holders may have HIGHER chances of getting a stable job, and LEAST chance of lossing a job during recession. all mere statistic based risk calculation?? normally degree holders have higher approval rates, but not nessasary always....
non-degree holders, but been in a stable n steady employment & income have very very high chances as well

note: all mere personal view & assumptions

This post has been edited by ahnien: Nov 13 2009, 01:49 AM

thanks for the explanation

May I ask which bank you work for? I'm curious which bank has the "degree" attribute in their application scorecard.

my guess is cimb since they do have cards for graduates

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Added on November 14, 2009, 10:38 amwhich bank cheapest for government servant may i ask?
im going to be posted soon after KPLI which is a teaching course
currently i know of Bank Islam 3.25% for 1 year and PUblic Bank using credit card 2.5%
going to borrow max 5-10k for relocation purposes

This post has been edited by kei18kun: Nov 14 2009, 10:38 AM

I think those degree holders have problem in finding jobs as their taste are higher which caused most of them jobless...

This post has been edited by darkknight81: Nov 14 2009, 11:00 AM

This post has been edited by BlitzKriez: Jan 11 2010, 10:23 AM

lol, that goes without saying

let me clarify. Someone with less than 1 year in his/her current employment has very little chance, if any, to get a personal loan?

absolutely CORRECT!!!

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Added on November 17, 2009, 12:47 pmat times, cant really blame them oso. the job market oso a problem.
jus for example, nowadays, in banking fields or investment sectors, they RARELY hire freshies. most are internal transfers or scounting for external talents frm other comps.

This post has been edited by ahnien: Nov 17 2009, 12:47 PM

Can anyone highlight which bank offer the best interest rate?

But howcome i keep receive calls from banks to offer me for personal loans while i didn apply any..?

telemarketing / external referrals.

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Added on November 17, 2009, 11:32 pmcurrent market norm 12% - 5.5% (flat rate)

24%++ - 13.5% (reducing balance)

might be inaccurate. but its roughly ther.

some banks may offer very very low rates, as low as 7% - 4% (flat rates), but take note the eligibility. normally onli for government servants / certain setors employee with auto monthly salary deduction.

This post has been edited by ahnien: Nov 17 2009, 11:34 PM

Need some advice.
I wish to apply for a personal loan RM20k to settle all my credit card debts (citibank, hsbc, standchart, maybank & hong leong). I dont care about the repayment tenure but as long as the interest rate is lower than my current credit card interest rate which is 13.5-15% p.a. I'm not a degree holder but have 5 years working experience as a legal clerk with current pay RM2.8k. My consent about the max loan amount that the bank can offer so that I can settle off my card debts in one short (if is possible). I dont have any car loan or housing loan debts except cards!!!

Woww u spend all ur cards of 20K...

Understand how u feel as u will be very paintful every month after getting salary and u wil hv to spent additional hundreds of jz for its interests, as i had been gone through all these as well.

It's very subjective to say, the max amount is different from all banks as they wil offer u base on ur monthly credit card setttlement status, so im suggesting u take STD or HL as both of them offered me via tele-communication b4 but STD offer is 1.5X higher than HL.

need to know on some personal loan terms, do they have any minimum amount to apply it? Can a client apply for 1k? (hehe) And do they have minimum tenure of paying back ? Can client ask for 3 month pay back (hehe)

1K..? U serious or kidding

I boro u better la, special interest for u 3% enough haha..

suggest bank rakyat

yes yes !!! i can help..i'm a runner for bankers, n i can let u know ur status in a week time oso hope to hear form u soon..