If you’re struggling with multiple debts and looking for a smarter way to manage your finances, debt consolidation through a personal loan could be the perfect solution. In Malaysia, many banks and financial institutions offer personal loans tailored for debt consolidation — allowing you to combine all your debts into a single, manageable monthly repayment.
At MyLoanReviews.com, we’ve researched and ranked the top 10 personal loans in Malaysia for debt consolidation to help you make an informed choice. Here’s everything you need to know to find the best loan to ease your financial burden.
Debt consolidation means taking out one loan to pay off multiple smaller debts such as credit card balances, unpaid bills, or other loans. The benefits include:
Choosing the right personal loan for debt consolidation is crucial. The loan should have competitive interest rates, flexible repayment terms, and minimal fees.
We analyzed the best personal loan offers based on interest rates, loan tenure, processing time, and customer feedback to bring you this top 10 list:
| Rank | Lender Name | Interest Rate (p.a.) | Max Loan Amount (RM) | Loan Tenure | Key Features |
|---|---|---|---|---|---|
| 1 | Maybank | 4.50% | Up to 100,000 | Up to 7 years | Fast approval, flexible repayment options |
| 2 | CIMB Bank | 4.75% | Up to 150,000 | Up to 9 years | No collateral, online application |
| 3 | Hong Leong Bank | 4.80% | Up to 100,000 | Up to 7 years | Competitive rates, quick disbursement |
| 4 | Public Bank | 5.00% | Up to 120,000 | Up to 8 years | Flexible tenure, good customer service |
| 5 | RHB Bank | 5.20% | Up to 150,000 | Up to 9 years | Easy application, affordable monthly payments |
| 6 | Bank Rakyat | 5.50% | Up to 100,000 | Up to 7 years | Shariah-compliant, competitive profit rates |
| 7 | AmBank | 5.60% | Up to 150,000 | Up to 9 years | No hidden charges, fast loan processing |
| 8 | OCBC Bank | 5.70% | Up to 100,000 | Up to 7 years | Online application, flexible loan amounts |
| 9 | HSBC Malaysia | 6.00% | Up to 120,000 | Up to 7 years | Wide branch network, good loan tenure options |
| 10 | Alliance Bank | 6.20% | Up to 100,000 | Up to 7 years | Competitive rates, easy approval |
Note: Interest rates and loan details are subject to change. Always check with the lender for the latest information.
At MyLoanReviews.com, we provide unbiased reviews and up-to-date information about personal loans in Malaysia. We are not affiliated with any bank or loan provider, ensuring our recommendations are honest and transparent. Our goal is to help you find the best personal loan for your debt consolidation needs quickly and safely.
