Personal Loan Calculator

Calculate your personal loan payments and costs

Loan Details

Typical range: RM 5,000 - RM 200,000

Malaysian banks typically: 4% - 15%

Typical range: 1 - 10 years

Calculation Results

Ready to Calculate?

Enter your loan details and click Calculate Payment to see results

Personal Loan Calculator Malaysia: Plan Your Borrowing Wisely

Need extra funds for an emergency, home renovation, education, or to consolidate high-interest debt? A Personal Loan Calculator Malaysia helps you estimate monthly instalments, total interest, and the true cost of borrowing before you commit. Personal loans are one of the most popular financing options in Malaysia, but without proper planning, they can also become a heavy burden.

Our calculator gives you a clear repayment schedule so you can manage your cash flow and avoid unpleasant surprises.

How to Use the Personal Loan Calculator Malaysia

Just enter a few simple details to get instant results:

  • Loan Amount – Most Malaysian banks offer from RM5,000 up to RM200,000, depending on your income and credit profile.
  • Interest Rate – Personal loan rates in Malaysia typically range between 4% – 12% per annum. Islamic personal financing often uses a profit rate instead.
  • Loan Tenure – Choose between 1 year up to 7 years. Shorter terms mean higher monthly payments but lower total interest.

The calculator will show you:

  • Monthly repayment amount.
  • Total repayment (principal + interest).
  • Total interest cost over the loan period.

Key Personal Loan Terms in Malaysia

When using a personal loan calculator Malaysia, it's important to understand these terms so you know exactly what you're committing to:

1. Flat Rate vs Effective Interest Rate (EIR)

  • Flat Rate: Banks advertise this to make the loan look cheaper. Example: 5% flat rate.
  • EIR: The real cost of borrowing, often almost double the flat rate. A 5% flat rate loan may have an EIR of 9–10%.

Our calculator helps you see the *true* repayment cost.

2. Processing Fees and Hidden Charges

  • Processing Fees: Usually 1–3% of loan amount.
  • Stamp Duty: 0.5% under the Stamp Duty Act.
  • Early Settlement Penalty: Some banks charge if you repay early (usually 1–3% of outstanding balance).

3. Debt Service Ratio (DSR)

Banks use DSR to check affordability. Most Malaysian banks cap DSR at 60–70% of your monthly income. Our calculator includes a DSR check so you know your eligibility.

Tips for Getting the Best Personal Loan in Malaysia

  1. Compare across banks – Maybank, CIMB, Public Bank, HSBC, Bank Rakyat, and AEON Credit all have different interest rates and terms.
  2. Check your credit score (CTOS/CCRIS) – A good record improves approval chances and gives you lower rates.
  3. Consider Islamic Personal Financing – Often comes with competitive profit rates and no compounding interest.
  4. Watch out for promotions – Some banks waive processing fees or offer lower introductory rates.
  5. Choose your tenure carefully – Longer loans = smaller monthly instalments, but much higher total interest.
  6. Negotiate with your bank – Customers with strong repayment history may get better deals.

Frequently Asked Questions About Personal Loan Calculator Malaysia

1. What documents are required for a personal loan application?

  • • Identity card (IC)
  • • 3–6 months salary slips
  • • Bank statements
  • • EPF statement or income tax documents
  • • Employment letter (sometimes required)

Government staff may need additional confirmation documents.

2. How long does approval take?

  • • Online applications: 1–5 working days.
  • • Existing customers with good credit: Some banks offer same-day approvals.

3. Can self-employed Malaysians apply for a personal loan?

Yes. You'll need:

  • • Business registration (SSM).
  • • Bank statements (6–12 months).
  • • Income tax returns (BE/EA form).
  • • Proof of consistent income.

4. What is the maximum amount I can borrow?

Depends on your income, credit score, and bank. For example, some banks allow up to 5–10 times your monthly salary, capped at RM200,000.

5. What happens if I miss a payment?

Missed payments will incur late charges, increase your effective interest cost, and negatively impact your CCRIS/CTOS record, making future loans harder to obtain.

Why Use Our Personal Loan Calculator Malaysia?

  • See real monthly repayments instantly.
  • Compare flat rate vs EIR for a transparent view of true costs.
  • Check affordability with DSR estimation.
  • Avoid surprises with hidden fees factored in.
  • Plan your borrowing better before applying.

Related Financial Calculators

Planning your finances in Malaysia? Explore our suite of powerful tools to make smarter money decisions:

Car Loan Calculator Malaysia

Instantly calculate your monthly instalments, interest costs, and total repayment for new or used car financing.

Home Loan Calculator Malaysia

Estimate your mortgage payments, understand the true cost of homeownership, and plan your property budget with confidence.

Credit Card Calculator Malaysia

Create a clear repayment plan to eliminate credit card debt faster and save on high-interest charges.

Need help with other financial calculations? Visit our complete calculator collection for salary, zakat, EPF, and more Malaysian financial tools.

Understanding Personal Loans in Malaysia

What is a Personal Loan?

An unsecured loan that doesn't require collateral. Used for various personal expenses like home renovation, education, or debt consolidation.

Interest Rates

Typically higher than secured loans due to no collateral. Rates vary based on your credit score, income, and bank policies.

Eligibility

Must be 21-60 years old, Malaysian citizen or PR, with minimum monthly income (usually RM 2,000-3,000 depending on bank).