Best Credit Card in Malaysia

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Best Credit Card Comparison

Before applying for a credit card, there are a few details customers should familiarize in order to select a card that suits the expenditure pattern. This is the main informationcustomers should get before deciding:

  • Annual fee
  • Cash Back
  • Rewards Points
  • Credit Card interest rate
  • Petrol rewards
  • Travel rewards
  • Balance transfer

Currently banks are providing customers with Cashback Credit Card or Rewards options.

Cashback Credit Card

A cashback credit card is quite simply a credit card that gives rebates in cash. Instead of collecting rewards for spending with the card via treat points and freebies, the bank will give a cash rebate.

Reward Points

Reward Points per RM basically means the points that will be credited into the card for every purchase. Excluding a few cards, the general conversion for most banks (and its cards) is RM1 = 1 Point.

Types of Rewards

  • Vouchers  : Ranging from shopping vouchers, food vouchers
  • General items : Household items such as kitchenware, travelling bags
  • Specific Items  : Items such as Petrol and Air Miles redemption (usually for specific cards with petrol and air miles features on them)
  • Credit Card Service Tax Waiver / Redemption and Annual Fee Waiver Redemption : Some banks offer to redeem the points in exchange for a government service tax redemption

 

Credit Card No Annual Fee

Most credit cards today waive of the annual fee however customers may need to double check before applying for the credit card.

 

Best Credit Card comparison for Cash Back

Hong Leong Wise Gold provides a 10% cashback from Hong Leong Wise which is the only credit card that rewards customers with 10% cash back.

  • Interest Rate : 15%
  • Balance Transfer : 6.99%
  • Cashback: 10%
  • Annual Fee: Free

Best Credit Card comparison for Rewards

Standard Chartered Worldmiles MasterCard delivers the fastest redemption for an air ticket at the lowest cost.

  • Special Offer: Save 15% at Asiatravel
  • Interest Rate: 15%
  • Balance Transfer: 2.99%
  • Cashback: No
  • Annual Fee : Free

Best Credit Card comparison for Low interest

Citibank Cashback Platinum provides a 5% cashback on petrol, groceries, phone bills and medical.

  • Interest Rate: 8.88%
  • Balance Transfer: 6.99%
  • Cashback: 5%
  • Annual Fee: RM195

Best Credit Card comparison for Petrol Rewards

Standard Chartered JustOne Platinum MasterCard provides rebate when customers charge fuel to the credit card. Customers will enjoy 10% Petrol CashBack at all petrol stations nationwide.

  • Interest Rate : 15%
  • Balance Transfer : 2.99%
  • Cashback : 10%
  • Annual Fee : RM250

Best Credit Card comparison for travel

Air Asia Citibank Gold Visa provides perks in the air and on the ground.

  • Interest Rate : 8.88%
  • Balance Transfer : 6.99%
  • Cashback : No
  • Annual Fee : RM180

Best Credit Card comparison for Islamic

AmIslamicBank Al-Taslif Visa Gold Card-I provides customers with  a new money manager and enjoy online banking, 0% easy payment plan on retail expenditure and automatic bill payments with AutoBillPay.

  • Balance Transfer : No
  • Cashback: No
  • Annual Fee : Free

Best Credit Card comparison for Balance Transfer

Maybankard Balance Transfer Program enables customers to save more with lower interest rates, choose the plan that meets the needs and enjoy a long repayment period of up to 36 months.

  • Interest rate includes upfront 3% fee
  • Interest Rate: 0%
  • Minimum Transfer: RM1000
  • Max. Duration: 36 months

 

Best Credit Card comparison for Premier Card

Citibank CitiPrestige provides 25% discount off business-class tickets and Insurance and up to RM1 million travel coverage. Customers also enjoy privileged access to 2,400 Golf courses all over the world.

  • General: RM1 spent = 1 Point, RM1 spent abroad = 2 Points
  • Interest Rate: 8.88%per year
  • Income : RM 1,000.00per year
 

Agrobank Personal Loan

agrobank_logo

Agrobank is a continuity of the former Bank Pertanian Malaysia which has 40 years of experience in agricultural banking and an excellent track record in shaping and developing successful entrepreneurs.

AgroCash-i (Bai’ Al-Inah)

Provides financing facility for personal consumption purposes specifically related to agriculture base activity.

Eligibility:

  • Government Servant
  • Repayment method is through Biro PerkhidmatanAngkasa (BPA)
  • Allowable BPA deduction is not more than 60% (including this financing)
  • Confirmed and permanent Government Servants. For contract staff, a permanent and confirmed staff must stand as guarantor
  • Aged between 18 to 60 years old or before the retirement age (whichever is earlier)
  • Minimum gross income (including fixed allowances) of not less than RM 1,000 per month
  • Selected Government Linked Company (GLC)
  • Repayment method is through Biro PerkhidmatanAngkasa (BPA)
  • Allowable BPA deduction is not more than 50% (including this financing)
  • Confirmed and permanent selected GLC’s employees who has been in the employment of not less than three (3) months
  • Aged between 21 to 60 years old or before the retirement age (whichever is earlier)
  • Minimum gross income (including fixed allowances) of not less than RM 2,000 per month

Customers can enjoy a financing limit up to RM100, 000.Financing period is up to 120 months (10 years).Financing provides Takaful protection scheme which is compulsory for customers.

Hartani-i

Provided to staff from government / private sector, through the Al-Bai’ BithamanAjil (BBA) concept. Facility provides to the individual who have a fixed income which plan to buy and developed land under the Al-Bai’BithamanAjil (BBA) concept.

Eligibility:

  • Malaysian citizen and reside in Malaysia
  • Offer to all staff from government/private sector
  • For Government sector; gross salary included Fix allowances not less than RM 1,500.00/ month
  • For Private sector; gross salary included Fixed allowances not less than RM 2,000.00/month
  • For the individual other than the two categories, the monthly income must be stable and affordable
  • Age21 – 60 yrs (On the maturity date of funding)

Ar-Rahnu

An Islamic pawn broking scheme based on Syariah principles of Al-Qard, Al-WadiahYadDhamanah and Al-Ujrah which provides a sources of immediate loan to assist individuals in overcoming cash-flow needs, offering business opportunities as well preventing from illegal/unlicensed loan activities. Benefits of the loan:

  • Interest free loan according to Syariah principles
  • Fast, easy and safe. Safety of jewellery is guaranteed
  • Cheaper (Safekeeping fee from RM0.50)
  • Fixed safekeeping fee throughout the pawn tenure

Required Documents for loan application:

  • Photocopy of Identity Card
  • Photocopy of latest three (3) monthspayslip
  • Employer’s Confirmation Letter
  • Bank statement where the salary being credited

 

 

Bank Muamalat Personal Loan

Logo-Bank-muamalat

Bank Muamalat Personal Financing

 

Bank Muamalat Malaysia Berhad, the second full-fledged Islamic bank to be established in Malaysia after Bank Islam Malaysia Berhad, is poised to play its role in providing Islamic banking products and services to Malaysians, without regard to race or religiousbeliefs.

Bank Muamalat provides a variety of loan options especially for the government servant.

 

Financing for All Federal or State Government and Government Link Company

Tenure minimum of 2 years and maximum of 7 years and financing amount minimum of RM 7,000.00 and maximum of RM 100,000.00 orSalary less than 5,000.00: 5 times gross salary or Salary more than 5,000.00: 10 times gross salary, whichever lower.

 

Mode ofrepayment:

a)    Auto Debit net salary via BMMB Current/Saving Account or

b)    Salary deduction At Source by employer

Documents Required:

  • Copy of NRIC (front and back)
  • Latest 1 month Salary Slip
  • Employment Confirmation Letter
  • Latest Utility Bills (TNB/Telekom/Syabas/Astro)

Financing for Malaysia Armed Forces

  • Tenure of minimum: 3 years, Maximum: 15 years
  • Financing AmountMinimum: RM 5,000.00
  • “Lain-lain Pangkat” (LLP): Maximum: RM 60,000.00 (Flat/Floating Rate)
  • “Pegawai”: Maximum: RM 150,000.00 (Floating Rate), RM 100,000.00 (Flat Rate)

Documents Required:

  • Copy of BATC10/MyTentera (front and back)
  • Latest 1 month Salary Slip (Flat Rate)
  • Latest 2 months Original Salary Slip (Floating Rate)
  • BMMB Current/Saving Account passbook
  • Latest Settlement Statement
  • Investment Statement (if applicable)
  • “SuratMengambilMaklumIsteri”
  • Standing Instruction Form filled by wife
  • Wife NRIC or ID (front and back)

Applicant’s Eligibility:

  • Lain‐lain Pangkat (LLP) maximum 52 yearsold.
  • Pegawai maximum 65 years old.

Financing Government pensioners under Scheme A

  • Tenure minimum of 3 years and maximum of 15 years
  • Financing Amount minimum: RM5,000.00
  • Maximum: RM 150,000.00 (Floating Rate), RM 100,000.00 (Flat Rate)

Documents Required:

  • Copy of NRIC (front and back)
  • Copy of Pensioner Card
  • Copy of latest Pension Ledger or copy of updated Current/Saving Account statementwhere previous pension credited
  • BMMB Current/Saving Account PassbooProducts / Items

MicroFinancing Government pensioners under Scheme A or Army’s wife

Tenure minimum of 3 months, maximum of 7 years (max age of 65 years at end of financing tenure) and financing amount minimum of RM 5,000.00 and maximum of RM 50,000.00

 

Documents Required:

  • Copy of NRIC (front and back)
  • Copy of Pensioner Card (for pensioner)
  • Husband latest salary slip (for Army’s wife)
  • Copy of Pension Ledger (for pensioner)
  • BMMB Current/Saving Account passbook
  • Business Registration/License/Permit

PembiayaanPengurusanKewangan – PPK (Purchase Motorcycle)

Purpose for purchaseModenas motorcycle only for all Federal or State Government and Government Link Company.Tenure minimum of 3 years and maximum of 5 years with a financing amount minimum of RM 3,000.00 and maximum of RM 10,000.00.

 

Mode of Payment:

a)    Auto Debit net salary via BMMB Current/Saving Account or

b)    Salary deduction At Source by employer

Documents Required:

  • Copy of NRIC (front and back)
  • Latest 1 month Salary Slip
  • Price Quotation of Purchase from Modenas (will be obtained by BMMB, CBDD)

Please take note, customer’s not a Bankruptcy during apply BMMB financing and Terms and conditions apply