The interest/profit rates defer by banks, check information between all banks:
Bank Name | Information | ||||||||||||||||||||||||||||||
Alliance Bank CashFirst | The interest/profit rate depends on your financial profile, like your credit record, repayment habits, and loan / financing duration (Risk-based pricing). It starts from 4.99% to 16.68% per annum (flat rate). The Effective Interest/Profit Rate (The actual cost) over 5 years is approximately 9.14% to 27.05% per annum. The Bank may adjust the Interest/Profit Rate quoted with prior notice to you. Interest/Profit rate comparison example If you take a RM20,000 loan for 5 years at 12.68% per year with CashLoan (Alliance CashFirst Personal Loan), the total interest/profit rate and charges would differ compared to other loan options like “A Credit” Personal Financing.
* The calculation is for simulation purposes only. Please refer to final approved loan details during the loan acceptance stage. | ||||||||||||||||||||||||||||||
Bank Rakyat | Personal Financing-I InstaCash is an unsecured facility offered to individual customers. This product is offered on a floating rate basis using the monthly reducing balance method subject to Standardized Base Rate (SBR) revisions. It will be within the range of 8.09% to 8.76% per annum (illustrative fixed profit rate)* The Effective Profit Rate is approximately 13.33% to 14.83% per annum. For example: SBR** + profit rate % = 14.83% **The SBR is set as the Overnight Policy Rate (OPR) decided by Bank Negara Malaysia (BNM). Please refer to Bank Rakyat’s website https://www.bankrakyat.com.my/shariah/article/ consumer-guide-reference-rate for the latest SBR. The Bank may adjust the Profit Rate quoted with prior notice to you. Profit rate comparison example If you take a RM10,000 financing amount for a financing duration of 7 years at profit rate of 7.77% per annum with CashLoan (Bank Rakyat Personal Financing-i InstaCash), the total profit rate and charges would differ compared to other loan / financing options like “A Credit” Personal Financing.
* The calculation is for simulation purposes only. Please refer to final approved financing details during the final financing offer acceptance stage. | ||||||||||||||||||||||||||||||
CIMB eZi Tunai | The interest/profit rate depends on your financial profile, like your credit record, repayment habits, and loan/ financing duration (Risk-based pricing). It ranges from 6.88% to 24% per year (flat rate). Example 1: Customers with strong credit records, good repayment habits may receive a lower interest/profit rate. Example 2: Returning customers with good credit and repayment history may enjoy better rates. CashLoan’s underlying product, CIMB e-Zi Tunai is a flexible product that lets you borrow based on your needs, including small loan amounts or shorter loan periods (tenures). This makes e-Zi Tunai more affordable with lower total interest/profit rate payable compared to similar options. Interest/Profit rate comparison example For a RM1,000 loan over 3 weeks at 24% per year, the total charges would differ from “X Credit” Personal Financing.
* The calculation is for simulation purposes only. Please refer to final approved loan details during the loan acceptance stage. By offering shorter tenures and no additional fees, CashLoan provides a cost-effective and flexible borrowing solution. | ||||||||||||||||||||||||||||||
| GXB FlexiCredit | The interest rate depends on the assessment of your financial profile and standing, like your credit record and repayment habits. It ranges from 3.74% to 21.11% per year (flat rate). Interest is calculated using the reducing balance method. This means that interest is charged on the outstanding principal balance each month. As you make repayments, the outstanding principal balance decreases, and so does the interest amount.
Example: First Drawdown:
Second Drawdown (with ODI):
*Further Info: First Payment (ODI) for 2 days: [RM3000*0.1088*(2/365)] = RM1.79
First payment or odd day interest (“First Payment (ODI)”) accounts for the interest calculated from the drawdown date to the day before the monthly repayment date in the event your drawdown and repayment dates differ.
First Payment (ODI) is calculated on a daily basis (on the basis of a 365-day year) and will be charged as a one-off charge.
If your drawdown and repayment date is the same, First Payment (ODI) will not be applicable to you.
The installment amount for the final month may vary slightly from previous months due to adjustments resulting from interest rounding. | ||||||||||||||||||||||||||||||