|Maybank Personal Loan , Pinjaman Peribadi Maybank|
|Interest from From 6.5% p.a. to 8.0% p.a (EIR 11.53% p.a to 14.68% p.a depending on tenure)|
|Tenure 2 to 6 years repayment period|
|From RM 5,000 to RM 100,000 of financing|
|For Malaysians Only|
Maybank Personal loan is a hassle free personal loan where no guarantor or collateral is required. This loan allows from RM 5,000 up to RM 100,000 of financing however the amount approved would depends very much on applicant’s credit rating. A borrower can opt for repayment period from 2 to 6 years. This would meant that a borrower can secure a loan of RM 5,000 with lowest repayment of RM102.78 monthly. The interest rates for this loan ranges from 6.5% p.a to 8.0% p.a flat rate. The table below illustrates how the interest is calculated for this personal loan.
|Loan||Interest Rates (Flat)|
|RM 5,000 to RM 20,000||8% p.a. fixed rate|
|RM 20,001 to RM 50,000||7% p.a. fixed rate|
|From RM 50,001 to RM 100,000||6.5% p.a fixed rate|
Basically, you will be able to enjoy better interest rates with higher amount financing. Interest is calculated in flat rate so you will need to understand the effective rate of interest.
Personal Care Plan
Borrowers will have the option to enroll for Maybank Personal Care Plan that will cover the outstanding debts in case of permanent disability or death. There will be a premium involved for this insurance plan which can be deducted from the amount that you borrowed.
Fees and Charges
There are no processing fees for Maybank Personal loan. The standard 0.5% stamping fees has also been waived. If you are interest in early settlement of the loan, the penalty would be RM 200 or 3% of the outstanding loan , whichever higher amount applies. A standard 1% will be charged for any late payment of this personal loan, calculated from overdue date till date of full monthly payment. All service charges are also subjected to a 6% GST charge
This loan is only open to Malaysians with a minimum income of RM 30,000 per annum between age of 21 to 60 at the end of loan tenure.
If you are self-employed
If you are keen, Maybank Personal Loan repayment table is listed on the link below