Individuals who earn RM1,500 or below are eligible to apply for low income personal loans. You can be an employee, a business owner or even a pensioner. If you’re a Muslim, you can opt for Islamic Personal Financing for low income.
What is the Maximum Personal Loan I Can Borrow?
Each bank offers a different range of personal loan for low income, the maximum loan could reach up to RM250,000. However, the amount of personal loan you’ll get is depending on your monthly salary and credit report.
How to Choose the Best Personal Loan for Low Income in Malaysia
Taking a personal loan when you’re earning a low income may be scary. What if you’re unable to repay the loan? Don’t worry, there are ways to choose the perfect personal loan according to your circumstances.
The first thing you need to look at when comparing for the best personal loan for low income is the interest rate. List down a few low income personal loans that offer low interest rates. Secondly, compare the loan tenure. A low income personal loan with the lowest interest rate may have short tenure, making it unsuitable for some people. Lastly, use the personal loan calculator on our website.
Our Personal Loan Calculator will tell you how much you have to repay every month, helping you to choose the best personal loan for low income in Malaysia.
Top 5 best personal loans for low income in Malaysia:
1. AEON Low Income Loan
AEON iCash Personal Financing allows you to pay at low monthly profit rates for up to 7 years. Apply financing from RM1,000 to RM100,000 and get your personal financing approved in three days.
2. RHB Low Income Loan
RHB Easy-Pinjaman Ekspres, a low income loan with flexible tenure of up to 5 years. Low repayments, no hidden fees or charges, any nationality is eligible.