Call: 012-385 0211 Mon-Fri, 9:00am - 6:00pm

You have successfully logged out

We will send you an email with instructions to reset your password

We Work with the Most Trusted Lenders in Malaysia:

Find What You Need in 3 Easy Steps:

Why choose

100% Free
Quick and Easy
Impartial and Independent is your go-to website for finding Credit Cards, Personal Loans or Broadband products in Malaysia. Our service is free, easy and completely unbiased. With our online comparison platform, you can find the most up-to-date information on personal finance products, best value internet plans and much, much more!

Testimonial person
I never knew that choosing the right credit card could bring me so many benefits until guided me based on my needs.
Ash, 26, Kuala Lumpur

Find the Lowest Interest Rates in Malaysia

We are the first comparison site to provide Malaysians with the lowest interest rates in the market, exclusively available at

Personal Loan FAQs

An Islamic personal loan is one that follows the Islamic banking principles. An Islamic personal loan, also known as an Islamic personal financing, is issued by Islamic banks in Malaysia. The financing tool uses the concept of Bai' Al-'Inah, making it Shariah compliant. Being Shariah compliant means the loan does not have fixed or floating interest rates or fees (also known as riba, or usury) for the loan of money. This is prohibited according to the Islamic banking principles.
As Islamic financial institutions are prohibited from making money through interest rates by lending money, Islamic personal financing has to be structured differently. There are various concepts, but most of them include the buying and selling of approved commodities and services following Islamic principles to make it Shariah compliant. These concepts include Murabaha, Bai' Al-'Inah and Ijarah to name a few. Islamic personal financing is structured with profit rates, over the conventional interest rate. This is because the Islamic loan is not set up the same way a personal loan is. There are real purchases and resales of assets being made which makes this finance Shariah compliant, therefore making it a finance rather than a loan.
Shariah compliant banking is governed by Islamic principles which includes being interest-free. Making money from money, such as by charging interest, is prohibited (usury) and therefore Shariah compliant banking will not have this. Wealth will be made through legitimate trade and investment in commodities or assets, however companies involved with alcohol, gambling, tobacco, and pronography is off limits. Financial tools and financing that are structured in accordance to Islamic law are Shariah compliant.
Yes. In order to be considered an Islamic financing, it must be designed in a way that it is consistent with the principles of Shariah (Islamic law) and its application. The financing must be permissible under Islamic law and one of the key features of that is the absence of interest rates (riba or usury). If it does not comply to the Islamic principles of banking and economics, then it would be a conventional loan.

The key difference between Islamic financing and conventional loans is the method by which the bank makes its profit. With conventional loans, banks tend to make their profit by charging interest on the loan amount, also known as the principal amount. The monthly repayments made by the borrower goes to servicing the interested, but also to pay down the principal amount.

However, Islamic financing is prohibited from structuring their product with interest rates (riba). Instead, the Islamic banking principles revolved around the buying of a commodity on the borrower's behalf, and selling it back to the borrower at profit. This profit rate replaces the interest rate that conventional loans charge.

Like most loan applications, you will need to submit supporting documents to the bank. This includes a copy of your identification card, 3 months payslip, a copy of your latest BE form with payment of tax receipt. And if you are self-employed, you may need to provide audited financial statements of profit and loss account, a copy of your business registration. This required documents may differ from bank to bank, so it's best to always check these requirements when you are applying.
Most of the major trusted banks in Malaysia offer Islamic finance and/or have an Islamic subsidiary that offers Islamic financing, including HSBC Amanah, Al Rajhi Bank, Bank Rakyat, Alliance Islamic Bank, Hong Leong Islamic Bank, AmBank Islamic, Maybank Islamic, Standard Chartered Saadiq, Public Islamic Bank, RHB, Bank Islam, BSN and CIMB Islamic Bank.
Yes, interest rates (riba) are prohibited in Islamic financing. However, Islamic financing products are structured with a profit rate that is payable by the borrower to the bank.

Most banks will require you to be a Malaysia Citizen or Permanent Resident, at the age of 21 and above (but not over 60), with a monthly gross income of RM3,000 or more. Proof of identification, income, and residence must also be submitted to be approved for a personal loan. lets you compare Fast Approval Loans, Islamic Loans, and Civil Servant/GLC Employee loans from various Malaysian banks and lenders.

You will usually need to produce your EPF statements or pay slips dating back three months (or six months if you are self-employed).

Banks will also look at your credit rating before approving or rejecting your loan application.

Many Malaysian banks and lenders provide loans from RM1,000 up to RM400,000, depending on the borrower's credit history or rating.

Most banks and lenders set an upper limit on how much applicants can borrow, which can range from 6 to 10 times the amount of their current salary, or a fixed amount. Whichever amount is lower will be the highest amount the borrower can have.

Your Islamic loan's processing time depends on the bank or lender. Some banks send an approval-in-principle as quickly as an hour; others may take a day. Depending on the lender, the loans may be disbursed as soon as a day after approval.

Save Money in Malaysia

Subscribe to our free weekly newsletter for tips on how to save money in Malaysia