Are you looking for personal loans

personal loan

Personal Loan has been in market for a long time although it has only been gaining popularity these few years. Personal loans packages in Malaysia are quite affordable as there are heavy competition among local banks and from other loans such as credit cards ,etc. Rates may vary from banks to bank while there are other perks and cons

Typically a lender such as bank charges personal loan by flat rate with fixed monthly repayments according to tenure offered. This is quite a common practice in Malaysia.

 

 

Flat rate vs Effective rate

Do take note that the rate offered by flat rate may not reflect the true interest rates of the loan. Some interests offered looks unbelievably low flat rate and this may not be true. Flat rate is daily robbery while some developed countries have banned this practise.

 

Are you a government or GLC staff ? 

You can even find much better personal loan deals with better rates and longer repayment period if you are government staffs , civil servants or GLC (Government Linked Companies) staffs. There are a few Malaysian banks offering personal loans only to government staffs and related GLC where your repayments can be done via auto deduction directly from employer.