How to Improve Your Credit Score Ratings

A credit score is normally derived from your credit report, a detailed record of your borrowings and repayments history as well as your personal particulars. Simply said, it is like a history of your finances. Therefore, a credit report is one kind of file that contains everything that a bank needs to know about your financial history prior in approving your loan application.

You may get to know your credit score through the Credit Tip Off Service (CTOS) if you wish to see your scoring. CTOS is a private company that provides credit reporting and it is widely used by financial institutions in determining an applicant’s credit worthiness. This private company will get the credit related information from various public sources like the National Registration Department, Companies Commission Malaysia and Malaysia Insolvency Department. The types of information related to credit that will be included in the credit report from CTOS include bankruptcy, legal action and case statuses. You may also get to know your credit score or report from CTOS via MyCTOS, in which you have to register to obtain your CTOS User ID.  

It does matter if you have a bad credit score as it affects your loan applications. It is one great factor or consideration by the bank or financial institutions in determining whether to give an approval to your application. Besides, the credit score is also used in determining the amount of interest charged to you on the financial products or services that you apply for. So, it is important to make sure that you keep your credit rating at a healthy level. If not, you should be improving it as you still can do that but not immediately. This process will definitely takes some time.

In case of having a bad or poor credit score ratings, there is nothing to worry but to take action immediately so that your credit score can be improved. As mentioned, it is a process that will take some time and will not be improved overnight. The most basic thing that you should be doing and make it a habit is to always keep track of your credit ratings in order to wipe out any discrepancies. You may do so by getting a copy of your credit report from Bank Negara Malaysia without any fees incurred. All you need to do is visit any branch of Bank Negara with your identification card and fill up an application form, which can also be downloaded online, filled and mail to BNMTELELINK. Then, you will receive a copy of your credit rating. That simple.   

If you intend to improve your credit ratings, never ever delay in debt repayments. It is highly advisable to pay them off ahead of time or if not, at least pay on time. This will not only helps you to pay off your debts easily but also helps in improving your credit ratings. Having good discipline in repaying your debts without any delay will turn you into a responsible borrower and boost the trust between you and the one lending you money. Delayed payments or no payments made can affect your credit history and eventually bring down your credit score. Other than that, delayed in repayment led you to earn a heavy interest payment as well.

Your financial relationships with others can affect your credit score too, either improve or have a toxic impact on your ratings. Therefore, you are advised to be careful when you share any bills or have supplementary credit cards. If there is a late repayment on the supplementary cards, this will surely affects your credit ratings. Keep your finances separate if possible so that you can control your own credit score in an easier manner.   

Another way to gradually increase your credit score ratings include avoiding a default on your debts even in times when you are struggling to pay the minimum amount. You should be contacting the lender in order to organize to amend your repayment schedule. They should be able to advise and discuss with you on the best repayment schedule based on your situation. If you need further advice and help on this, you may refer to AKPK (Agensi Kaunseling & Pengurusan Kredit).   

To improve your credit score ratings, never ever let the companies in chasing you for repayment. If you tend to always forget to pay your bills on time, you are actually not only putting yourself at risk of having to pay for penalties or late charges but also damaging your credit score at the same time. Do not take granted on late payments for your monthly bills like phone and internet bills as a constant late payment will be recorded into your credit score and thus, lowering the score. Consequently, this will give the bank an impression that you are not a disciplined customer and do not have your financials under control. In short, make sure you make payment on time.   

For those of you who have no credit score at all, this can be a bad impression to bankers, similar as having a bad credit rating. You may not need to borrow money but a lack of credit history can be viewed negatively by credit rating agencies. Thus, it is recommended for you to start building up your credit history. You may do so by getting a credit card and enjoy the benefits of it. All you need to do is carefully choose a credit card that suits your lifestyle and spending pattern, and make sure that you pay off the outstanding balance at the end of every month in order to avoid a poor credit score rating.   

If you wish to improve your credit score rating, it is advisable not to opt for multiple loans or credit cards as this may negatively affect your credit score. The reason is due to the high amount of debt that you carry with you and it also affects your debt to income ratio, which eventually pulls down your credit rating if you are overburdened. Another piece of advice for improving your credit score rating is avoid requesting for increased credit limit. If you made this request frequently, it shows that you highly rely on your credit cards. So, do not request for a higher limit unless you really need it.  

Start now if you want to improve your credit score ratings by simply following the steps or methods mentioned above.      



Standard Chartered Personal Loan



Standard Chartered CashOne , Pinjaman Peribadi Standard Chartered
No guarantor and collateral needed
Quick approval
RM 1,000 to RM 150,000 of financing available
Maximum 5 years repayment
Lowest 0.583% monthly interest rate


CashOne is unsecured where it does not require any any collateral or guarantor. This loan is not Shariah compliant. CashOne gives finance up to 4 times the customer’s monthly salary. Repayment period of the installment is from 12 months (1 year) to 60 months (5 years) and the interest rates are as low as 0.583% per month. This would amount to 9% p.a. flat rate. 

Applicant will also have the choice to link their CashOne to their credit card limit. For any repayment that is repaid will be converted into credit card limit. Successful applicants will also get to enjoy up to 5 years free annual fees for their Platinum Credit Card.


There are no processing fees required while late repayment are charge 1% p.a. on a daily basis. Applicant can fully settle the loan before the end of loan tenure based on certain terms and conditions. There are also no fees if you want to settle your loan earlier.


An applicant can be a Malaysian citizen or foreigners aged 21 to 65 years old with a minimum monthly salary of at least RM2,000 per month.


An applicant must open account with the bank before they could done their repayment. Monthly repayment is via a standing instruction.



  1. A copy of MyKad (front and back)
  2. Most recent payment slip
  3. Most recent bank statement
  4. Most recent EPF statement
  5. Most recent BE form (income tax)


  1. A copy of MyKad (front and back)
  2. Company registration form
  3. Most recent 6 months bank statements
  4. Most recent BE form (income tax) with receipt to IRB

Repayment Table

SC Personal Loan repayment table


Among the privileges that a customer could get from this loan package includes

  • Customers don’t have to pay their Platinum credit card annual fee.
  • No lock in period (can overlap) but customers have to send a notice prior a month for the bank to release a settlement letter.
  • Every time a customer paid their monthly installments, their credit card limit will increased according to the amount that they have paid. This could help if they needed some emergency cash or they have out of money in any months albeit it may also be a double edge sword.


Quick Cash EDGE

Standard Chartered Quick Cash Edge 
No guarantor and collateral needed
Quick approval
RM 1,000 to RM 250,000 of financing available
Maximum 5 years repayment
Lowest 0.583% monthly interest rate


Personal loan scheme called Quick Cash is for employee working for the government or private sector as well as self-employed workers. Minimum amount for the finance for the loan is RM2,000 while the maximum amount is RM150,000 or 5 times the customer’s monthly salary. Minimum tenure for the loan is 12 month (or a minimum of 24 months if the loan amount is less than RM15,000) while the maximum tenure is 60 months (5 years). The interest rate is based on the flat rate up to 0.88% per month, according to the salary, amount and duration of the finance. Customers will be charged a late payment penalty up to 1% from the outstanding amount. This loan package doesn’t need any collateral or guarantor.


There are no processing fees and early settlement penalties for Quick Cash Edge. There is a 1%p.a. penalty fees for late repayments.

Personal Financing-i

Standard Chartered Personal Financing-i is a fully Islamic compliant loan that is based on Shariah concept. It operates on commodity trading concept. This loan is also requires no collateral and guarantor.


Standard Chartered is an international banking group with an extensive network of over 1700 branches and also branches in more than 70 countries in Asian Pacific, South Asia, Middle East, Africa, United Kingdom and America regions. Standard Chartered started its operation in Malaysia in 1875 when its first branch is opened for business in Beach Street, Pulau Pinang. The bank has been incorporated locally as Standard Chartered Bank Malaysia Berhad on 29 February 1984. As the first and oldest bank in this country with over 140 years of history, Standard Chartered up to this day has over 40 branches with 7,000 workers throughout the country.

Today, customers are seeking the personal loan offered by the bank as a deposit for new home, chances, business investment, pursuing studies, settling credit card debt or home renovation. No matter the reasons, the personal financing gives the customers additional finance and freedom to do more than they could think with the loan.


Maybank Personal Loan


maybank personal loan

Maybank Personal Loan

Form RM 5,000 to RM 100,000 financing available
Interest varies from 6.5% to 8.0% p.a depending loan amount
As low as RM 102.78 installment montly
No guarantor and collateral needed
Minimum income of RM 2,500
Aged from 21 years to to 60 years old
Malaysian Citizens only

Maybank personal loan offers from RM 5,000 to RM 100,000 financing ranging from minimum repayment from 2 to 6 years.  There are no guarantor or collateral needed. There are no processing or stamping fees for the application of this loan. Please take not that this is a conventional personal loan and is not an Islamic compliant loan.

Maybank also states that it will take 48 hour for the approval time of the loan. The funds will be transferred to applicants account upon approval of the loan.  Applicants will be required to have savings or current account with Maybank.

Interest Rates

This interest rate will depends on the amount loan. You will get to enjoy lower interest rates with higher amount loan. The loan amount starts from RM 5,000. Borrowong RM 5,000 to RM 20,00 will give you a 8.00% p.a. , RM 20,000 to RM 50,000 will give you 7.00% p.a. while borrowing RM 50,000 to RM 100,000 will give you 6.50% p.a. Please take not that the published rates are flat rates.

Loan Amount Interest Rate p.a
RM 5,000 to RM 20,000 8.00% Flat Rate
RM 20,000 above to RM 50,000 7.00% Flat Rate
RM 50,000 above to RM 100,000 6.50% Flat Rate

Charges and Fees

Maybank Personal loan requires no processing fees and no stamping fees. This loan comes with personal care protection plan from Maybank. There will be a 1% p.a penalty for any late repayment of the loan.  A standard 6% GST is applicable to any service charge by the bank. There will be a RM 200 charge or outstanding 3% (whichever higher applies)  as for for early settlement of the personal loan.


Maybank personal loan is available for Malaysian citizens only. You will need to be 21 years old to 60 years old by the end of repayment period.  The minimum monthly salary to be eligible is RM 2,500 per month or RM 30,000 per annum for permanent employment.



  • Photo Copy of Malaysian Identity Card  ( Front and back)
  • Most recent BE Form from LHDN with tax receipts
  • Most recent 3 months salary statements
  • Most recent 6 months bank account statements

Self Employed

  • Photo Copy of Malaysian Identity Card ( Front and back)
  • Copy of Company registration
  • Most recent BE Form from LHDN with tax receipts
  • Most recent 6 months bank account statements


Repayment Table

Maybank personal loan monthly repayment table is available on the link below

Maybank Personal Loan Repayment Table

Personal Care Plan

Personal Care Plan is insurance plan that will free you from any outstanding debts with Maybank Personal loan. The maximum amount is RM 100,000 in the event of death or total permanent disability.


  • As little as RM 102.78 payment per month
  • Compulsory Insurance plan
  • Available to private sectors


  • Rate is rather higher comparative to other loans in Malaysia