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.
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.
Maybank provides 3 types of personal loans:
The eligibility for individuals to apply for Maybank personal loans are as follows:
There are numerous other reasons you should choose Maybank personal loans.
Maybank personal loans can provide you with the following benefits:
When applying for Maybank personal loans, the following documents are required:
Certain fees apply, including:
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)
Late payment fee
1% p.a. on arrears calculated from the due date to the date of the full monthly payment
Stamp duty
RM5 for every RM1,000 loan/ financing amount
Insurance or takaful (optional)
Refer to the bank
For more information or assistance with Maybank personal loans,
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.
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