There's bank going as low as 3-5% p.a. This is even cheaper than car loan & housing loans. Pretty crazy but I guess only for the elites.

I am looking for personal loan - RM10K - RM15K (repayment within 2-3 years).

Please PM me for details....

is it for government staff and public listed company? those are normal
pls clarify wat u mean by elites?

Works in private sector bank is just normal bank. I was suprised when i heard 5% as normal private loan varies from 8%-15% depending on your income. Then I heard a loan was made for 3% partially used to pay off the 5% loan.

Elite just simply saying you can afford a platinum card (20-30k high salary?) & have a good track record. But the bank will conduct interview & some papers are required.

which bank offer 5%?? how much can i loan?? i only hv classic card, 8k only..

bank rakyat

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Added on December 10, 2009, 12:15 amsalary deduction bro.
quite hassle, need submit latest confirmation letter, guarantor, submit letter to HR for salary deduction, etc

seriously, the rate is quite nice.
i have a few colleagues took out 80k loan for car. hahaha....

why salary deduction no good?? IF you are buying a house in the near future, then you will know how it will affect your housing loan

This post has been edited by ahnien: Dec 10 2009, 12:15 AM

Personal loan interest rate of 3 - 5% is a flat rate. The actual rate is way more than that! Should be around 8 - 9%. You should use a spreadsheet and do the math. Don't be tempted by this type of low interest rate.

Totally agree! Then you will find you have insufficient cash flows at times.

Well, 5% is what was given that's why he went for the 3% bank after finding out to pay off the 5% loan and continue financing. So at least he got 5%. It's not deducted from salary how is it possible unless you are loaning from the company you work for. 3% is lower than many loans out there, car/mortgage/business. And the fun thing is the money goes to your bank not to who you gonna pay.

anyone know about cimb islamic xpress cash financing-i with regards to its interest rate? (apparently open to non-bumi as well)

i called n they say interest is 2%p.m., so how do i calculate the total i have to pay?

im currently earning gross 2.8k pm n need rm3k loan.. short installment preferred (1yr or less)

anyone have good recommendation which bank shld i go for?

thanks!

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Added on December 10, 2009, 9:13 amalso, i was checking out AEON personal financing, which is 1.5% but they have processing fee of 6% and stamp duty.

anyone which have taken this loan can advise me? thks!

This post has been edited by wildeyes: Dec 10 2009, 09:13 AM

I can help to restructure your credit card outstanding balance and reduce your interest charge incurred by the banks.

PM me if you're interested.

2% per month is too high already, do contact the the person above to consolidate and get better deals

cimb islamic express cash financing-i is known for its highest interest rate in the market currently

2% flat rate p.m = 24% flat rate per annum
example: you took out a 10k loan for 2 years.
then total interest charged will be 2.4k(a year) x 2 = 4800
total amount to pay back is 14800
imagin if you take up to 5 or 6 years???

no offense to cimb bank's financing product. but credits to cimb bank: they do have one of the lower if not lowest requirements for the loan. approval rates is average, not bad.

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Added on December 11, 2009, 12:37 amif you ask me, indeed, BR provided one of the best rates in town. in fact, i had a few colleagues taking up the loans with them
cuz its supported by govn & bnm.
thats why the rates so low.

but onli opened to all govn servants & selected big MNC/PCL/PLC/FNM companies.
MANY MANY MANY people from private sectors or smaller companies cannot get the benefit = ="

ther's the loop hole where some local & foreign banks come into action. etc: CIMB, HL, UOB, SCB, HSBC, RHB, allianz, etc....

This post has been edited by ahnien: Dec 11 2009, 12:40 AM

really? ur calculating based on reducing balance rite? im actually interested in finding out which one is cheaper?
the flat rate or reducing balance? do u have any website that can calculate that? pls produce facts rather that just give a general idea
any personal loan that doesn't charge flat rate nowadays?
i only know credit card balance that charge 1.5%/month or 18%/annum based on reducing charge

comparison:
1.RM10k, 2.5%/year flat rate=RM250 interest, each month pay RM854.17

2.RM10k, 1.5%/month reducing balance, each month also pay RM850, interest?
Jan-interest RM150 based on 10000k balance
February- RM137.25 based on 9150 balance

i don't even need to calculate until march u see and the interest is already RM287.25
this is not exactly rocket science people, hello!!!


wat u say is correct only in the sense if u never want to payback anything...in that case ur better off taking a flat rate loan

lowest rate rite now is bank islam which is 3.25% for government staff...i think alliance bank also have around the same rate but more documents needed

another one is public bank using credit card just 2.5%/annum

This post has been edited by kei18kun: Dec 11 2009, 12:28 PM

pb 2.5% - u mean BT?? cuz pb p-loan onli for govn servants

lowest is bank rakyat & bank islam
onli opened to gov servants & selected pcl company staffs

sorry for not clarifying my point...i do digress now and then

pb is for credit card and u just transfer from that credit card to another bank credit card...u don't need to submit another credit card's statement which is a good thing

Still working in HL? just enquiries, I work in one of the private company in KL, with salary RM2500 per month. can I get a PL up to 30K. tks

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Added on December 15, 2009, 2:22 pmWhich bank can offer loan up to 20K to 30K? as my salary only RM2500 per month? Anyone can help?

This post has been edited by Lynnlee: Dec 15 2009, 02:22 PM

Pleas do consider the interest rates before you apply.
Sometimes, It's better to get a credit card and make EPP than loan alone.

Funny, today I got an email from ocbc agent telling me to apply their loans

RM12k Loan with 7 years repayment @ 12.5% per annum
That's freaking high wei!

I guess this people dont know what they are selling.

bank islam 6.8% for private company