Maybank Personal Loan

About Maybank

Malayan Banking Berhad (Maybank), founded on May 31, 1960, is a Global Banking firm that offers a wide range of financing, investment, and capital market solutions to corporate and institutional clients in more than 20 markets worldwide. As of now, Maybank has over 374 branches and over 2,700 ATMs in Malaysia.

What is a personal loan?

A personal loan is a type of instalment credit provided by a financial institution (bank) to a borrower (you) in a one-time cash payment. You, as a borrower, must pay back the amount plus interest either in regular or monthly instalments over the loan’s term agreement.

What type of personal loan does Maybank offer?

Maybank provides 3 types of personal loans:

• Maybank Personal Loan
• Maybank Islamic Personal Financing-i (MIPF-i)
• Maybank Salary Loan / Financing

What are the eligibility to apply for Maybank personal loans?

The eligibility for individuals to apply for Maybank personal loans are as follows:

• Maybank Personal Loan / Maybank Islamic Personal Financing-i (MIPF-i)
• Between 21 to 60 years old
• Minimum annual income of RM30,000
• Maybank Salary Loan / Financing
• Between 21 to 58 years old
• Minimum monthly income of RM3,000 (inclusive of fixed allowances)
• Confirmed and permanent employees at selected GLC, TTC, and LEC

Why should I choose Maybank personal loans?

• You can have a fixed monthly instalment
• Minimum loan/ financing amount: RM5,000
• Minimum tenure of 2 years
• The interest rate of 8% p.a. fixed rate for loan/ financing amounts from RM5,000 to RM20,000
• Maybank Salary Loan / Financing monthly repayment with salary deduction: BR/ IBR + 3.75% p.a.

There are numerous other reasons you should choose Maybank personal loans.

What are the benefits I can enjoy from Maybank personal loans?

Maybank personal loans can provide you with the following benefits:

• Monthly repayment is as low as RM102.78 per month
• No document stamping and processing fees
• No guarantor or collateral is required
• No hidden costs
• Making monthly repayments through salary deduction is simple (Maybank Salary Loan / Financing)
• A large loan/ financing amount of up to RM200,000 is available (Maybank Salary Loan / Financing)

What are the documents required for Maybank personal loans?

When applying for Maybank personal loans, the following documents are required:

• Maybank Personal Loan
• Salaried employee
• Application form, and
• Copy of NRIC (both sides), and
• Latest 1-month salary slip, or
• Latest EA Form, or
• Latest BE Form with an official tax receipt, or
• Latest 3-month Savings Account activity/ Current Account statement
• Self-employed
• Copy of NRIC (both sides), and
• Copy of Business Registration, and
• Latest B Form with an official tax receipt, or
• Latest 6-month bank statement
• Maybank Islamic Personal Financing-i (MIPF-i)
• Salaried employee
• Application form, and
• Copy of NRIC (both sides), and
• Latest 1-month salary slip, or
• Latest EA Form, or
• Latest EPF statement, or
• Latest BE Form with an official tax receipt, or
• Latest 3-month Savings Account activity/ Current Account statement
• Self-employed
• Copy of NRIC (both sides), and
• Copy of Business Registration, and
• Latest B Form with an official tax receipt, or
• Latest 6-month bank statements
• Maybank Salary Loan / Financing
• Application form, and
• Copy of NRIC, and
• The latest 3-month salary slip, and
• The latest 3-month bank statement, or
• EPF statement, or
• EA /BE form, and
• Employer confirmation letter, and
• Redemption Statement from other financial institutions (if applicable)

What are the fees included in Maybank personal loans?

Certain fees apply, including:

• Maybank Personal Loan

• Late payment fee

  1% p.a. on arrears calculated from the due date to the date of the full monthly payment

• Early settlement fee

  RM200 or 3% of the loan’s outstanding balance, whichever is greater (it applies to settlements occurring during the first half of a tenure)

• Maybank Islamic Personal Financing-i (MIPF-i)

• Late payment fee

  1% p.a. on arrears calculated from the due date to the date of the full monthly payment

• Maybank Salary Loan / Financing

• Stamp duty

  RM5 for every RM1,000 loan/ financing amount

• Insurance or takaful (optional)

  Refer to the bank

Who should I contact for further information about Maybank personal loans?

For more information or assistance with Maybank personal loans,

• Call +60378443686 or Maybank Group Customer Careline at 1-300-88-6688
• Visit Maybank official website

What are the common terms of personal loan?

• Per Annum (p.a.)

  The interest rate over one year with the assumption that interest is compounded annually.

• Tenure

  The period you must repay your loan.

• Principal

  Principal is commonly known as the loan amount you requested from the bank.

• Interest rate

  Principal is commonly known as the loan amount you requested from the bank.

• Instalment

  Instalment is the fixed amount you must repay your personal loan every month until the term expires.

• Penalty

  A fee that a bank will levy on your overdue amount if you are late with your repayment.

• Default

  The term used to describe a situation in which a personal loan is not paid off for more than three months.