• Maybank Personal Loan


    Maybank offers comprehensive banking services in Singapore. Some of the products services offered by the bank include deposits, credit cards, debit cards, insurance, loans, and much more! Maybank provides a wide array of options under the personal loan category. The Maybank personal loans are broadly divided into Personal Line of Credit and Personal Credit.

    You’re probably eligible for a Maybank Personal Loan if you are

    Maybank Personal Loan Minimum Age

    Atleast 21 years

     Maybank Personal LoanMaximum Age

    Less than 65 Years

     Maybank Personal Loan Eligible Employment Type

    Salaried or self-employed with regular income

     Maybank Personal Loan Minimum Income

    Earn more than the minimum income required

    Your Maybank Personal Loan amount eligibility is based on these factors

     Maybank Personal Loan Minimum Salary

    Minimum income required S$30,000 per annum

    Maybank Personal Loan Maximum Loan Funded

    Max Loan amount - up to 4X your monthly income

     Maybank Personal Loan EMI

    EMIs of other loans lower your eligibility

    Increase your eligible Maybank Personal Loan amount by these steps

     Maybank Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

     Maybank Personal Loan Tenure

    Choose longer tenure loan

    Documentation needed to apply for an Maybank Personal Loan

    • 1.Photocopy of NRIC
    • 2. Salaried Employee
      • Latest Computerized Payslip OR
      • CPF Contribution Statement for past 12 months OR
      • Latest Income Tax Notice of Assessment (NOA)
    • 3. Variable Income/Commission Based Earner
      • Latest 6 months Computerized Payslip OR
      • CPF Contribution Statement for past 12 months OR
      • Latest Income Tax Notice of Assessment (NOA)
    • 4. Self-Employed
      • Income Tax Notices of Assessment (NOA) for past 2 years
    • 5.Any other documents as may be requested by the Bank at its sole discretion

    Maybank Personal Loan DetailsUpdated on 18 Oct 2017

    Maybank Personal Loan Details
    Interest Rate 19.8% p.a
    Minimum Income S$30,000 pa
    Max Loan Amount up to 4 times your monthly income
    Annual fee S$80 (2-year fee waiver)
    Guarantor Requirement No guarantee required

    Why choose Maybank Personal loans

    • Maybank offers numerous personal loans at attractive interest rates that are affordable. The interest rates for a term personal loan start just from 7.48% p.a.
    • If you have any issues related to your personal loan application or receipt, you can count on the dedicated staff of Maybank to provide you with timely assistance. They will clarify all your queries and questions.
    • The documentation process for a Maybank personal loan application is very simple and quick. Your personal loan application will go smooth due to the easy procedure.
    • Maybank offers exclusive benefits and promotions for personal loans. You will be able to obtain cash credits, discounts on interest rates, etc. when you apply for a Maybank personal loan before the expiry date.

    Types of Maybank Personal Loans

    Let us take a look at the various kinds of personal loans offered by Maybank:

    1. Maybank CreditAble (Personal Line of Credit): With this product, you will get a credit line of up to 4 times your monthly salary. You can select repay through flexible or fixed methods.
    2. Maybank CreditAble Term Loan: With this loan, you can make fixed repayments over a fixed schedule. You can repay this loan within 60 months.
    3. Maybank CreditAble Fund Transfer: This product will allow you to move money from your Maybank CreditAble account to a credit card, savings account, credit line, or current account of any other bank. You can save cash up to 84%!
    4. Maybank Banker's Guarantee: This product will give a valid guarantee on behalf of you in order to help you get a tender for large business contracts and projects.
    5. Maybank Education Loan: You can use this to fund your education programme entirely. You can repay it in 10 years. You will get the higher amount of S$200,000 or 8 times your monthly salary.
    6. Maybank Home Renovation Loan: You can use this loan to renovate and remodel your abode. The repayment period is up to 5 years. You will receive an amount of S$30,000 or 6 times your monthly salary, whichever is higher.
    7. Maybank Secured Overdraft: Under this option, you will have to pledge any asset and you will get a loan. There is no minimum income criterion for this loan product.
    8. Maybank Debt Consolidation Plan (DCP): You can combine all the unsettled balances from other banks and then put them in this plan. This will help you make your repayments easily. You can also enjoy a revolving credit facility with this plan.

    Maybank personal loan features and benefits

    These are some of the primary features and benefits:

    • Maybank offers numerous personal loans at excellent interest rates. Each loan is offered for a different purpose.
    • With the term loan offered by Maybank, you can follow a fixed schedule to make your repayments on time. This will help you manage your funds efficiently.
    • Maybank offers particular loans for specific purposes such as education, home renovation, procurement of tenders for business projects, etc.
    • You can repay these loans offered by Maybank in a flexible or a fixed manner.
    • Most of these loans provide you with a free chequebook which can be used for transferring your cash.
    • You will receive large amounts of funds depending on the income that you earn annually.

    Interest rates and costs of Maybank Personal Loan by Duration

    1. Maybank CreditAble
    2. The interest rate for Maybank CreditAble is 19.8% p.a.

    3. Maybank CreditAble Term Loan
    4. These are the interest rates and costs:

      Tenure Effective interest rate (in % p.a.) Processing fee (in %) Interest rate (in % p.a.)
      12 months 17.06% 2% 7.48%
      24 months 15.59% 2% 7.52%
      36 months 15.28% 2% 7.76%
      48 months 14.94% 2% 7.86%
      60 months 14.67% 2% 7.94%
    5. Maybank CreditAble Fund Transfer
    6. These are the interest rates and costs:

      Transfer amount Tenure Interest Processing fee
      S$10,000 6 months 0% p.a. 1.88% p.a.
      S$2,000 6 months 0% p.a. 2.50% p.a.
      S$2,000 12 months 4.99% p.a. Information not provided
    7. Maybank Education Loan
    8. These are the interest rates and costs:

      Repayment scheme Loan amount Interest rate for local study Interest rate for studying abroad
      Standard scheme S$20,000 4.78% p.a. 4.88% p.a.

      The interest rates for this loan start from 4.50% p.a. (Education Loan Board Rate plus 0.50% p.a.)

    9. Maybank Home Renovation Loan
    10. The interest rates for this loan start from 4.33% p.a. The Renovation Board Rate is less than 4.17% p.a.

    11. Maybank Secured Overdraft
    12. The interest rate for this product is low as Maybank’s prime lending rate which is 19.8% p.a. currently.

    13. Maybank Debt Consolidation Plan (DCP)
    14. The interest rate starts from 4.70% p.a. with 8.48% p.a. as the EIR.

    Maybank EMI calculator

    If you take a Maybank personal loan of S$10,000 for 2 years at an interest rate of 7.52% p.a., your equated monthly installment amount will be S$479.33. Your processing fee will be S$200.

    Maybank personal loan fees and charges

    These are the fees for Maybank CreditAble (Personal Line of Credit)

    Annual fee S$80
    Late payment fee S$80
    Minimum monthly repayment Higher amount of S$30 or 3% of the unsettled loan amount
    Minimum interest on debit balance S$5

    For Maybank education loan, the processing fee is 2% of your approved loan amount.

    For Maybank home loan, the processing fee is 1% of your approved loan amount.

    Maybank Personal loan eligibility and documentation

    • To apply for a Maybank personal loan, you will have to be a Singapore citizen or a Singapore Permanent Resident.
    • You should be at least 21 years old and not more than 65 years old.
    • Your annual income should be at least S$30,000 p.a.

    Documents required

    For proof, you will have to give your NRIC, most recent payslips, most recent CPF contribution history statement, and most recent Income Tax Notice of Assessment.

    Maybank Personal loan Promotions

    These are some of the promotions offered for Maybank personal loans:

    Maybank CreditAble Term Loan: After you apply for this, if you get a term loan of S$9,000, you will receive a cash credit of S$120! This promotion started on April 17, 2017.

    How to apply for Maybank personal loan

    You can apply for any of the several Maybank personal loans by visiting the official website of the bank. You will just have to download the form from here and fill it. You can then submit it at any of the Maybank branches. You can also visit the branch and collect the form from here. You may also call the bank for support.

    News About Maybank Personal Loan

    • Maybank keeps DBS at “sell” with twenty one percent lower target price

      The “sell” is being maintained on the Development Bank of Singapore (DBS) by Maybank Kim Eng. However, the target price is being cut by twenty one percent to $ 12.68.

      The sharp retracement in recent times has a valuation that is compressed but the capital markets are still distrustful. Also, the aversion of the risk factor is pretty high. This was told by Ng Li Hiang, a financial analyst. The capital markets will be worried about the quality of the asset along with provision adequacy. This is regardless of the total amount that is required for the impairment charges, provided for and taken.

      23rd February 2016

    • Maybank CreditAble Term Loan Promotion

      Runtime – This is an ongoing promotion that started on August 17th, 2015 and valid until the bank decides otherwise.

      Particulars – When you apply for Maybank’s CreditAble Term Loan for a minimum amount of SGD 8000, you will receive an Arbutus Automatic Watch that is worth SGD 369.

      Terms and Conditions

        • CreditAble Term Loan Applicants are only eligible for one gift under this promotion irrespective on the number of approved term loan applications.

        • The complete cost of the gift will be charged to the customer’s CreditAble Term Loan if the loan amount is prepaid or terminated at any point in time during the approved tenure period.

        • For further details on the promotion or more information on the terms and conditions, please contact Maybank or visit their website.

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