Answer first
A personal-loan rate is meaningful only with its basis, tenure, fees and repayment schedule. Compare total ringgit outflow on identical inputs.
How to decide
Flat rates apply the percentage to original principal; reducing-balance rates apply it to what remains. Islamic financing uses contractual profit terminology that must be read in its own disclosure.
A practical process
Write down amount received, every instalment, number of instalments and mandatory charges. Sum outflows, subtract amount received, then review early-settlement terms.
Limits and next step
No current market rate ranking is asserted on this page. Check the linked primary source and its captured date before making a commitment.
Malaysian worked example
Show the working
Inputs
- RM20,000 received
- RM430 × 60
Calculation
- payments = RM25,800
- financing cost = RM5,800
- cost share = RM5,800 ÷ RM20,000
Reviewed resultThe simple cost share is 29% over five years; it is not an annual effective rate.
No current market rate ranking is asserted on this page.
Verify
Sources and update record
- Primary source checkedMaybank
- Captured
- 2026-07-30
- Recheck
- 2026-08-06
- Primary source checkedBank Rakyat
Personal Financing-i Floating Rate Product Disclosure Sheet
- Captured
- 2026-07-30
- Effective
- 2025-03-01
- Recheck
- 2026-08-06