Citibank Personal Loan

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Citibank Personal Loan , Pinjaman Peribadi Citibank
Form RM 5,000(New Customer) to RM 150,000 (Existing Customer)  financing available 
Interest starting from 5.88% p.a. flat rate ( 10.90% EIR)
2 to 5 years tenure in choices of 24, 3, 48 or 60 months
Malaysian Citizens or Permanent Resident working in Malaysia
Loan to  10 times your income
Minimum salary RM 4,000

The Citibank Personal Loan can be used to meet varied financial requirements or any other bona fide cause. The loan also has low interest rates, no processing fee charges and won’t need a guarantor or any collateral. The loan offers a minimum of RM 5,000 with their ‘New-to-Bank’ (individuals who are new to the bank) customers entitled to loan amount of up to RM 150,000 and ‘existing customers’ (individuals who are holding an existing active credit card and/or existing active Ready Credit with Citibank for more than 24 months) are entitled to loan amount of up to RM 150,000.

The clients may get a loan of up to 8x if their annual income is above RM 60,000 and a loan of up to 6x if their annual income is below RM 60,000.

Repayment

Loan repayments begin on the first day of the month following the date you received the loan and need to be paid every month until the total amount of the loan is repaid. The personal loan provides loan repayment tenure options of 24, 36, 48 or 60 months and prescribed rates for Citibank’s ‘New-to-Bank’ customers at an effective rate range of 14.5% to 21% per annum which equal to 7.9% to 12.5% per annum of the flat interest rate.

Fees

This loan is subjected to no processing fees. There is a 0.5% stamp duty fees which is based on the approved loan amount. Borrowers who want to pay off their loan early need to pay RM 200 or 3% of the outstanding balance (whichever is greater) as an early payment fee during the first 2 years or before reaching half the tenure (whichever is earlier). If payments are not made on time, a 1% per annum penalty charged daily on the outstanding amount for the month, on top of the prescribe rate.

Eligibility

The loan is eligible to Malaysian citizen or Permanent Resident working in Malaysia, age 21 to 60 years old at the time of the loan maturity, holding any Citibank’s Credit Card, personal loan, car loan, home loan or overdraft for more than 2 years. Applicant must have a minimum monthly income of RM 4,000 for self employed or permanently employed. In addition, the business must be at least established for 2 years for self employed. The Citibank may also ask for some supporting documentation in order to process the loan application.

Documentations

For salaried applicant:

  • A both sides photocopy of MyKad
  • Most recent EPF statement

Or

  • Most recent 2 months’ salary slip

And/Or

  • Any of the following document where required:
  • Most recent BE form with tax receipt
  • Most recent 3 months bank statements
  • Most recent EA Form (dated within the last 12 months)

For self-employed applicant:

  • A both sides photocopy of MyKad
  • A photocopy of Business Registration Form

And

  • Most recent Form B with tax receipt

Or

  • Most recent 6 months bank statements

 

Pros

  • 30 minutes approval

Cons

  • Higher interest rates starting from 9.0% p.a.
  • Higher minimum income requirements at RM 4,000 per month

 

About CitiBank

Citibank is one of the top banks in the world which has repeatedly won prestigious awards such as Best Consumer Internet Banks, Best Corporate and Institutional Bank and Best Cash Management Bank for its unique services at the global and local levels with approximately 200 million customer accounts and operates in more than 160 countries. With a combination of international and local expertise, Citibank has offered variety of services including the Citibank Personal Loan schemes which are reputed to be one of the customer friendly and one of the most affordable loans available in the market.

 

RHB Easy Loan

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RHB Easy Loan
From 13.47% interest rates
Form RM 2,000 to RM 150,000 financing available
1 to 7 years repayment
Aged from 21 years to to 58 years old
Minimum repayment of RM78.01
Malaysian Citizens and permanent residents only
8 minutes processing

RHB Banking Group strengthens its service when they introduced easy banking concept called ‘Easy’ for its branches. It could be used for daily banking operation and every operation through this system take at least 8 minutes to process. This is very beneficial for borrowers who need cash urgently. Whereas customers have to manage their activities using application form as usual, the Easy RHB only needs the customers’ MyKad. The Easy concept provides personal loan products, savings and insurance services with an offer for the Amanah Saham Nasional Berhad (ASB) savings and Employees Provident Fund (EPF) kiosk.

 

 

easy-rhb

Easy-Express Loan is a convenience personal loan without any collateral where interest will be charged upfront to the amount of loans approved and interest will be calculated in advanced for the entire tenure based on the “Rule of 78” (Rule 78 is a concept or a method of calculating the principle rate (total amount) and interest where interest will be in a greater percentage at the early stage of monthly instalment payment period).

Moreover, the loan has a maximum tenure up to 5 years for government employees, employees of private sector organizations or self-employed individuals. The minimum installment amount is RM57.74e per month with financing amount of RM 2,000 with 60 months repayment period.

Interest Rates

The interest rates of RHB Easy starts from 8.31% to 13.47% Flat p.a. which translates to around 15% to 24% EIR . The rates vary based on income of the applicant, amount of financing and tenure of financing. Basically you can enjoy better interest rates when you have higher salary and borrow larger amount over longer period of time.

Fees and charges

There is a 6 months lock in period for the loan where you will be sujected a RM 200 termination fees if you settle your loan during the period. There is a Personal Smart Sheild (PSS) insurance which is optional.  This insurance will cover your loan in case of any unfortunate event that happens to you. There is a 1% penalty for late repayment while bank can also gradually increase your interest if you fail to pay consecutively after 3 months.

Eligibility

This loan is available for Malaysian citizen only, aged between 21 to 55 years old, and have a total personal income not less than RM18,000 per year or RM1,500 per month.

Document

For salaried workers;

  1. A photocopy of MyKad (front and back)
  2. Payslip or salary statements 
  3. Updated bank statements (1 month for public or private sector)  
  4. EPF statements ( Minimum 6 months) 

For self-employed workers and commission earners;

  1. A copy of MyKad (front and back)
  2. Business or company registration certificate
  3. Commission statements for commission earners
  4. Bank statements for the last 6 months that shown the income of business or company(6 months for business owners and commission based)
  5. Latest B or BE form together with payment or receipt confirmation slip from Domestic Institution (LHDN)

Pro

  • On the spot renewal and disbursement , this comes in hand for those who are in urgent need of cash

Cons

  • Very high interest rates effectively at 24% (EIR) , flat 13% if your loan is little.

Repayment Table

If you are interest, you can download the repayment table at

Easy Pinjaman Ekspres

 

Mara Eduloan

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Everything You Need To Know About It

Education loans or scholarships in Malaysia today are something which most people dream off obtaining right after they finish their national examination here which is known as the ‘Sijil Pelajaran Malaysia’ or SPM for short, to most people around. The MARA EduLoan 2015 is known to be one of the most sought after scholarships which is only eligible for anyone who is a Bumiputera. The term Bumiputera here refers to all those who have either one parent which is a Malay and practicing Islam. Bumiputera can also mean the aborigines and indigenous for Sabah & Sarawak, their children are also Bumiputeras.

The cold hard truth is, while this is something which every student goes after, you would have to pass your SPM with flying colours in order to qualify. The EduLoan MARA 2015 is not something that is very hard to get but you sure would need a whole lot of luck to be on your side. Let us take a quick look as to what it is all about and just how someone like you can obtain it too.

Getting Started

The first thing which you would need to do is to check the MARA website right after your SPM examination to see if the application is open for you to apply. The process of applying for the MARA EduLoan is not as difficult as it may seem. What you will need to do is fill up the form with all your personal details and you will also need to decide which field you would like to major in and where you would like to go from there. You will be given two main choices and you will need to pay close attention to what you have decided to choose and in which order you have placed them because your first choice is what will be of priority to.

You will get a variety of options to choose your field of major in the PDF form which they have prepared for you and all you need to do is to remember to save all your written details once you are done filling up the form. The flexibility which you will be happy with is that you need not worry about your choices you have made as you still have time to change it before the final closing date of the application.

To all of you who don’t already know, MARA EduLoan is basically a loan which needs to be paid back once you have completed your degree and started working and the amount which you will pay back is based on the class you graduated with your degree. The good thing about the MARA EduLoan is that you will know exactly where your future will be headed to as the number of years to complete the courses and the types of courses available are very clearly stated.

Once you are done with the filling of the application form, you will then need to wait until you receive a notification stating that you have been shortlisted for the interview. You will also be able to check the status of your application just by logging in and checking if there are any issues or is something needs to be updated. There will also be instructions to guide you through out the whole process if you have any trouble with the process.

Take note that you will need to dress up formal for the interview buy you do not need anything over the top like a blazer or a coat. All you need to do is to go through a psychometric test. You will also be made to ask an essay do keep in mind that as much as you would like to show off your writing skills, you will need to keep within the word limit which has been set. Writing more than you should could actually cost you the scholarship itself so make sure you pay attention to the details of what is being asked.

 

The essay test taken in the final step which you will need to do and once that is done, you will need to wait for MARA to update your status on their website. It really is just that simple.

How To Know If You Are Eligible To Apply

  • You must be a Bumiputera in order to apply for the MARA scholarship
  • The duration of the programme must be more than 1 year
  • Your family income must not exceed RM 10,000 a month or 120,000 a year

Guidelines On How To Apply For The MARA EDU Loan

  • You must have an active bank account from either Maybank, Affin Islamic Berhad, Bank Kerjasama Rakyat, RHB Islamic Bank or CIMB Bank
  • You need to have an active e-mail address
  • You can go to click on the link to apply
  • You will receive a MARA agreement containing a loan offer letter, a few forms and a loan agreement
  • You will need to complete filling up the form before its due date
  • Your documents that are handed in have to be certified and approved by the commissioner of oath

A Final Word

While these might seem like a hassle to do but in reality, it really does not take up that much time and the benefits you will reap from this scholarship later on will be priceless as it just might build a very bright future for you indeed