When personal finances become unbalanced and askew, one of the ways to bring back symmetry to them, is to improve the cash flow. Unless you get a new job that pays better, there will usually be only one alternative. Get a personal loan! However, getting the right loan is as important as the idea of getting a personal loan. A loan from Maybank can be one of the options that you may want to consider. Whether you want to borrow on your Maybank card or start a new line of credit to counter your financial emergencies, you may enjoy convenience, low interest rates, and personalised services. A funds transfer scheme, an instalment loan scheme, and a debt consolidation plan are the other options available.
Maybank offers quite a few options in the personal loan space. Since you have so many options, you may find it easier to spot and choose a loan that you think can serve you best. Here are the options available:
Before you decide whether to apply or not, check the following benefits and features that you can expect from Maybank loans:
Interest rates on Maybank credit facilities are known to be quite reasonable. The following are some facts to support this statement:
|Name of Loan Product||Flat Interest Rate||Effective Interest Rate|
|Maybank FlexiCash||Between 5.88% p.a. and 6.88% p.a.||Between 10.68% p.a. and 12.70% p.a.|
|Maybank CreditAble (Line of Credit)||Interest applicable only on the amount utilised||Promotional interest rate of 9% p.a. for the first year; 19.80% p.a. thereafter|
|Maybank CreditAble Term Loan||Between 6.00% p.a. and 6.88% p.a.||Between 12.96% p.a. and 14.45% p.a.|
|Maybank Fund Transfer||Starts from 0% p.a.||Between 2.96% p.a. and 4.99% p.a., subject to good financial standing|
|Maybank Debt Consolidation Plan||Starts from 4.20% p.a.||Starts from 7.64% p.a.|
In general, the following fees and charges may be levied on your loan:
In addition, the following fees may be imposed on your card:
Before you start filling up the application form, take some time to consider the following points:
Apart from product-specific eligibility criteria, you may have to satisfy the following conditions in order to be eligible for a Maybank loan:
You may have to submit the following for a successful processing of your application:
Some Maybank loans may require additional documents. Please check the specific pages for relevant information on the same.
You may be able to use the following channels to submit your application:
A personal loan from Maybank can offer you financial assistance whether it is a question of a simple purchase/investment or it is about debt consolidation to reduce your interest burden. Try a Maybank loan yourself before you draw a conclusion on its effectiveness or lack thereof.
Dr John Lee Hin Hock has been appointed the new Chief Executive Officer of the Singapore operations of Maybank. His appointment becomes effective from 1 December 2017. Dr John, who currently serves as the Group Chief Risk Officer, will succeed Datuk Lim Hong Tat.
In his new role, Dr John will be responsible for further strengthening the bank’s position in the Singapore financial services market. Dr John holds a PhD in Economics from Monash University Australia. Before joining Maybank in 2011, he worked at KPMG Business Advisory as a partner.
Meanwhile, the bank has also appointed Gilbert Kohnke as the new Group Chief Risk Officer. Gilbert’s appointment comes into effect from 1 November 2017. Prior to this, Gilbert worked as the Group Chief Risk Officer at Denmark-based Danske Bank AS.
Group President and CEO Datuk Abdul Farid Alias said that the move is part of the bank’s efforts to further strengthen its leadership team with new ideas and energy.
30th November 2017
John Lee, the risk manager at Maybank Singapore, has been promoted as CEO, effective from 1 December 2017.
The current CEO of Maybank Singapore, Datuk Lim Hong Tat, is transferred to Malaysia, one of the home markets of Maybank.
Lee joined Maybank Singapore in 2011 and has a vibrant work experience with reputed financial institutions like KPMG and Amanah Merchant Bank in his repertoire.
Lee would focus on all the financial operations of Maybank Singapore to further its standing as a major financial giant in Singapore.
Meanwhile, the position of risk officer would be filled in by Gilbert Kohnke. His primary challenge will be to bring about a balance in risk practices especially in the rigorous banking conditions.
Welcoming Kohnke to the bank, Group president and CEO Datuk Abdul Farid Alias said this role change is the bank’s design to bring new ideas to the table and that they will be able to fulfill the responsibilities using their rich experience in banking.
09th November 2017
In a recent announcement, Maybank declared that it will maintain its “hold” call on SingPost, and also went on to say that the price will remain unchanged at S$1.22.
The move entails the launch of the all new SingPost mall. The mall almost doubles the available space to 269,000 square feet, with a net lettable area of 178,000 square feet.
In a recent report, John Cheong, an analyst, points out that the all new SingPost Centre will enhance the group’s income from rent by an additional S$22 million.
Through the mall, the group can earn S$3 million in earnings for the financial year ending in 2018, and S$13 million in earnings for the financial year ending in 2019. This is equivalent to 3% and 10% of the total earnings in the respective financial years.
The move is pending clearer direction from the group’s strategic review of the scenario. As far as the location is concerned, its proximity to Paya Lebar MRT interchange station has also assisted in raising its occupancy to 80.4%. Also, the all new general Post Office at the SingPost Centre will offer automated and highly efficient, round-the-clock services.
31st October 2017
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
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.