If you’ve been wondering, which bank gives a personal loan easily, you’re in the right place! In this post, we’ll explore some of the banks that are known for offering personal loans with simpler application processes and faster approvals.
Maybank is one of the largest banks in Malaysia and is widely recognized for its easy personal loan process. The bank offers competitive interest rates and flexible repayment terms, making it a popular choice for many.
Eligibility: Generally, Maybank requires applicants to be employed with a stable income. They also accept self-employed individuals with sufficient documentation.
Loan Amount: Up to RM 150,000, depending on your income and credit profile.
Approval Time: Fast approvals, often within 1 to 2 working days.
Key Benefit: Quick disbursement of funds once approved, and the process can be completed online for added convenience.
CIMB is another leading bank in Malaysia known for offering personal loans that are easy to apply for and have attractive terms. They also provide flexible loan amounts, allowing you to borrow based on your needs.
Eligibility: Applicants must be between 21 and 60 years old, with a stable income.
Loan Amount: Up to RM 200,000, subject to approval.
Approval Time: Approval is typically fast, and you can receive funds within 1 to 2 business days.
Key Benefit: CIMB offers an online application process that is simple and fast. They also provide personalized loan offers based on your financial standing.
Public Bank is known for its transparency and customer-friendly service, making it a top choice for personal loans in Malaysia. They offer attractive interest rates and are known for their relatively relaxed eligibility criteria.
Eligibility: Applicants must have a minimum monthly income of RM 2,000. Public Bank also considers credit score and employment stability.
Loan Amount: Up to RM 100,000, with flexible repayment terms.
Approval Time: Public Bank has a fast application process, and approvals typically take about 3 to 5 business days.
Key Benefit: Public Bank offers low-interest rates and flexible loan terms, which can make repayments easier.
RHB Bank offers personal loans that are easy to apply for, with competitive rates and flexible repayment periods. They have an efficient loan approval process, making it a convenient choice for many Malaysians.
Eligibility: Applicants need to be at least 21 years old and earn a stable income.
Loan Amount: RHB offers loans of up to RM 150,000, depending on your eligibility.
Approval Time: RHB’s approval process is straightforward, and you could get your loan approved within 1 to 3 working days.
Key Benefit: RHB Bank offers an online loan application, making it easy to apply from the comfort of your home.
Hong Leong Bank is another popular choice for personal loans in Malaysia, known for providing simple and fast loan approval. They offer a straightforward application process, and the approval time is generally fast.
Eligibility: Applicants must be Malaysian citizens or permanent residents with a stable income.
Loan Amount: Hong Leong Bank offers loans of up to RM 150,000, with flexible terms.
Approval Time: Hong Leong Bank’s personal loans are usually approved in as little as 1 to 3 business days.
Key Benefit: Their application process is quick and easy, with an online platform that allows you to track your loan progress.
Key Tips for Getting Approved for a Personal Loan:
Check Your Credit Score: A good credit score increases your chances of loan approval. Make sure to check your credit report before applying.
Have a Steady Income: Lenders prefer applicants with stable jobs or consistent income sources.
Compare Interest Rates: Don’t settle for the first loan you come across. Shop around and compare interest rates to find the best deal.
Prepare Your Documents: Have all necessary documents ready, such as proof of income, identification, and other supporting documents.
When asking, “Which bank gives a personal loan easily?”, the key is to find one with fast approvals, competitive interest rates, and easy eligibility criteria. Banks like Maybank, CIMB, Public Bank, RHB Bank & Hong Leong Bank are great options to consider. Make sure to compare the terms and interest rates before making your decision.
Remember, while getting approved for a personal loan might be quick and easy, it’s important to borrow responsibly and ensure you can meet the repayment terms. Happy borrowing!
