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Malaysia Personal Loan Calculator

Work out the monthly repayment and total cost of a Malaysian personal loan.

Monthly instalment

RM 650.00

Loan amount	RM 30,000.00
Flat interest rate	6.00% p.a.
Tenure	5 years (60 months)
Total interest	RM 9,000.00
Total payable	RM 39,000.00

Most Malaysian personal loans are advertised at a flat rate. The effective rate (APR) is roughly 1.8x the flat rate.

Personal loans in Malaysia

Personal loans are unsecured - no car or house backs them - so interest rates are higher than secured loans. Banks almost always advertise personal loans at a flat rate, the same method used for car loans.

Because of the flat-rate structure, the effective interest rate is much higher than the advertised flat rate - often close to double. Always compare the effective rate (APR) when shopping around.

Before you borrow

Personal loan tenures usually run from 1 to 7 years.
Your approved rate depends heavily on income, employer and credit history (CCRIS/CTOS).
Watch for processing fees and stamp duty, which add to the real cost.

Frequently asked questions

Why is the effective rate higher than the flat rate?

Flat rate charges interest on the full original amount the whole time, even as you pay it down. The effective rate accounts for that and is roughly 1.8 times the flat rate.

What can I use a personal loan for?

Anything - debt consolidation, renovation, education or emergencies. Because rates are high, it is best kept for genuine needs.

How fast can I get a personal loan?

Some banks approve within a day for existing customers; others take several working days for documentation and verification.

Can I settle a personal loan early?

Usually yes, with a partial interest rebate. The rebate is limited by the flat-rate method - check your loan agreement.

Figures are estimates for general guidance only, not financial advice. Rates verified 2026. Always confirm with the relevant authority before making a decision.