Cash woes? A personal loan to the rescue!
  • Personal Loan BYTES FROM OUR KITCHEN

    Maybank Personal Loan

    Secure Your Finances With Easy Repayments

    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.

    Compare Personal Loan Options from Maybank

    Loan Interest rate Loan amount Tenure Processing fee
    CreditAble - Personal Line of Credit  9% p.a.  for the first year 4x your monthly income - -
    Maybank CreditAble Fund Transfer 19.8% (first 6 months may be free of interest
    if account is held in good standing)
    - - 1.38%
    Maybank FlexiCash instalment loan  starts from 5.88% p.a. 80% of the your credit limit  1 or 2 years No
    Maybank CreditAble Term Loan  6% p.a. 90% of the credit limit 1 to 5 years 2%
    Maybank Debt Consolidation Plan (DCP) starts from 4.2% p.a.  - Upto 10 years -

    Eligibiltiy

    Nationality  Singapore citizen or PR
    Age 21 – 65 Years
    Min. Income S$30,000

    Interest Rates

    Here are the list of Maybank personal loans with interest rates

    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.

    Fees & Charges

    In general, the following fees and charges may be levied on your loan:

    • A default interest rate may apply on any overdue balance on your loan. The default interest rate will be reverted to the prevailing rate only upon clearance of the dues in full.
    • A late fee may be imposed on late payments.
    • An annual fee may apply on some loans. An annual fee of S$80, for example, would apply on CreditAble Line of Credit. You’ll enjoy a waiver for 2 years.
    • A processing fee may or may not be charged. Usually, a processing fee, if charged, will be deducted from the loan amount approved before disbursal.
    • An early repayment fee may be charged if you wish to repay your loan in full before the end of the repayment period.

    In addition, the following fees may be imposed on your card:

    • Finance charge.
    • Cash advance charge and interest rate.
    • Late fee.
    • Foreign currency transaction fee.
    • Dynamic conversion fee.

    Required Documents

    You may have to submit the following for a successful processing of your application:

    • The completed application form.
    • A copy of your NRIC document or your passport, whichever is applicable.
    • A copy of your latest credit report, if asked for.
    • Proof of your mailing address, in case it is different from the one mentioned on your NRIC/passport.
    • Depending on the nature and terms of your employment, you may have to submit the following income documents:
      • If you’re a salaried employee, you may have to provide a copy of your latest electronic payslip or proof of the contributions you have made to your CPF Account over the last 1 year.
      • If you’re a variable earner or a commissioned employee, you may have to provide computerised payslips for the last 3 months or CPF contribution history statement for the last 1 year.
      • If you’re a self-employed professional, you’ll have to submit your Income Tax Notice of Assessment for the last 2 years.

    Some Maybank loans may require additional documents. Please check the specific pages for relevant information on the same.

    Current Promotions

    Get Cash Credit of S$120

    You will get a cash credit of S$120 if your minimum loan amount is S$9,000. This cash credit is only available for the initial 500 applicants for the CreditAble Term Loan. Even if you have been successful in applying for this loan more than once, you will be able to redeem this offer just one time. The funds will be credited to eligible customers a month after their application has been successfully submitted.

    Maybank-personal-loan

    Personal Loan Repayment Summary

    Find out how much you would have to pay back on a personal loan for 12 to 60 months based on a loan amount of S$9,000:

    Loan duration in months Processing charge Rate of interest(per year) Effective interest rate (per year) Monthly repayment amount
    12 2% 6.00% 14.45% S$795
    24 6.38% 13.58% S$423
    36 6.88%  13.77% S$302
    48 13.31% S$239
    60 12.96% S$202

    Note: The figures in the above table are given for illustrative purposes only. For the actual numbers, get in touch with the bank.

    Customer Service

    If you have queries about this loan, you can contact the bank using an online form on their official website.

    You also have the option to call the bank on their 24-hour hotline:

    Local customers dial: 1800-629 2265

    Overseas customers dial: (65) 6533 5229

    How to Apply for Maybank Personal Loan?

    You may be able to use the following channels to submit your application:

    • Download the relevant form from the bank’s website, complete it and return it to the bank via mail or fax.
    • Visit a branch to complete the process.
    • Leave your contact details with the bank. A representative may contact you at an appropriate time.
    • If you want to apply for a DCP loan, send a text message to the bank. It will get in touch with you.

    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.

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