What is a personal loan calculator?

A personal loan calculator helps you estimate your monthly loan payments, total interest, and overall loan cost. It considers factors like loan amount, interest rate, and loan term to provide detailed payment breakdowns.

How is personal loan interest calculated in Malaysia?

In Malaysia, personal loan interest is typically calculated using the flat rate method. This means interest is calculated based on the original loan amount throughout the entire loan term, regardless of the remaining balance.

What is the typical personal loan term in Malaysia?

Personal loan terms in Malaysia typically range from 1 to 7 years. Longer terms result in lower monthly payments but higher total interest costs. The most common term is 3-5 years.

What factors affect personal loan approval?

Personal loan approval in Malaysia is influenced by several factors including: your credit score and history, monthly income and employment stability, existing debt obligations, age and citizenship status, and purpose of the loan.

What is the maximum personal loan amount in Malaysia?

The maximum personal loan amount in Malaysia varies by bank but typically ranges from RM50,000 to RM200,000. The actual amount you can borrow depends on your income, credit score, and existing financial commitments.

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Personal Loan Calculator

Calculate your personal loan payments, total interest, and view a breakdown of your loan payments. Plan your personal financing with our comprehensive calculator.

Loan Details

Loan Amount (RM)

Interest Rate (%)

Loan Term (Years)

Include Stamp Duty (0.5%)

Include Late Payment Penalty

Real-time calculation

Loan Summary

Monthly Payment

RM 0.00

Loan Amount

RM 10,000.00

Total Interest

RM 0.00

Total Payment

RM 0.00

Loan Term

1 years

This is an estimate. Actual loan terms may vary based on credit score, fees, and other factors. The effective interest rate shows the true cost of borrowing including compounding.

Payment Breakdown

Payment Schedule

View by:

Year	Principal	Interest	Balance

Loan Terms and Descriptions

Terms	Descriptions
Interest Rate	The interest rate or profit rate is the amount (usually shown in a percentage form) charged on the loan amount by the bank to the borrowers for using its money. It is the same concept as a deposit; you put money in a savings or current account, and the bank will pay you interest or profit for using your money. However, it is important to note that the personal loan interest rate is indicative, which means that your credit and financial background may influence the loan terms you will get.
Per Annum (p.a.)	The interest rate is charged per annum or yearly basis. For example, an RM10,000 loan is at 5% p.a. interest, the interest charge is RM500 per year. If the repayment tenure is stretched to 3 years, the interest will become RM1,500 (RM500 per year x 3 years).
Principal	It is the loan amount that you applied for. The interest rate will be calculated based on this amount and added on top of it. Going with the example above, the calculation should be: Principal + Interest = Total Borrowing Amount (RM10,000 + 5% p.a. = RM10,500)
Tenure	This refers to the loan repayment period. Choosing the right tenure is important for your finances. A shorter loan period has a higher monthly instalment amount, whereas a longer loan comes with a higher interest rate.
Instalment	You need to pay back your loan every month until the end of your tenure. The instalment amount is fixed and is calculated on the total borrowing amount divided by the total number of months.
Penalty	The bank charges you this fee on your overdue amount for being late on your repayment.
Default	A term to describe an event of non-payment of a personal loan for over 3 months. In this situation, the bank usually imposes a higher finance charge or takes legal action against you. Under this circumstance, you will face difficulty in securing any loans in the future as a result of your poor credit score. Your repayment history will stay in the CCRIS database for up to 12 months.