Maybank Personal Loan Malaysia 2026: Rates, Eligibility & Honest Review
Maybank prices this loan on a flat rate, and that is the whole story. Maybank's own FAQ publishes 11% p.a. on RM5,000–RM20,000, 10% on RM20,001–RM50,000 and 9% on RM50,001–RM100,000, described as a Fixed Flat Rate. Borrow RM30,000 over 5 years and you repay RM45,000. The bank is fast, charges no handling or stamping fees, and takes applicants from RM30,000 a year. It is not a cheap loan, and no bank in this comparison is.
What Maybank Actually Publishes
Every figure in this table comes from Maybank's own personal loan FAQ, read on 17 September 2026. Where Maybank does not publish something, this page does not state it.
| Parameter | What Maybank states |
|---|---|
| Interest rate | Fixed Flat Rate p.a. — 11% (RM5,000–RM20,000) · 10% (RM20,001–RM50,000) · 9% (RM50,001–RM100,000) |
| Rate basis | Flat. Maybank publishes no effective interest rate for this product |
| Loan amount | RM5,000 – RM100,000, subject to credit evaluation |
| Tenure | 1 – 6 years (12 – 72 months), fixed on approval |
| Eligibility | Malaysian citizens, 21–60 years old, earning RM30,000 per annum |
| Handling / processing fee | None. No stamping fee, and no service tax on this facility |
| Early settlement fee | RM200 or 3% of outstanding balance, whichever is higher, if settled in the first half of tenure |
| Late charges | 1% p.a. on the amount in arrears, from the overdue date until paid |
| Approval time | Within 48 hours; disbursement next working day, subject to full documentation |
| Disbursement | Maybank savings or current account only — not a joint account, not another bank |
| Perk | TreatsPoints equal to the approved loan amount (RM10,000 approved = 10,000 TreatsPoints) |
Legacy pricing from 1 January 2027. The flat rates on this page are lawful today. From 1 January 2027, paragraph 10.11 of Bank Negara's Policy Document on Personal Financing prohibits a licensed bank, licensed Islamic bank or prescribed development financial institution from offering personal financing priced on a flat rate or the Rule of 78, so new agreements must be quoted on a reducing balance. Agreements signed before that date are not converted. Read what changes on 1 January 2027, and when waiting is the cheaper move.
Why 10% Flat Is Not 10%
This is the number most people get wrong, and it is the reason a Maybank loan looks cheaper than it is next to a bank quoting an effective rate.
On a flat rate, interest is calculated once on the full original amount and spread across the tenure. Your balance falls every month; the interest charge does not. On a reducing-balance (effective) rate, interest is charged only on what you still owe. The same headline percentage produces roughly double the cost on a flat basis.
Maybank does not publish an effective rate for this loan, so we calculated one from Maybank's own instalment formula. These are our figures, not Maybank's.
| Loan amount | Maybank's published flat rate | Equivalent reducing-balance rate over 3 years (SmarterPik calculation, not published by Maybank) | Over 5 years (SmarterPik calculation) |
|---|---|---|---|
| RM10,000 | 11% flat | ~21.4% p.a. | ~20.5% p.a. |
| RM30,000 | 10% flat | ~19.5% p.a. | ~18.7% p.a. |
| RM100,000 | 9% flat | ~17.5% p.a. | ~16.9% p.a. |
A cross-check on that multiplier: AEON Credit publishes both numbers on its own site, and states that a 0.66% monthly profit rate, which is 7.92% a year flat, works out to an effective rate of 13.57% to 14.31%. That is the same roughly 1.8x relationship our calculation produces for Maybank. It is not a quirk of our arithmetic; it is what flat-rate lending costs.
What You Will Actually Pay Each Month
Maybank publishes the formula, so these are not estimates: principal, plus principal multiplied by tenure in years multiplied by the rate, divided by the number of months. Each row uses the flat rate tier Maybank applies to that loan size.
| Loan amount (Maybank's rate tier) | 2 years | 3 years | 4 years | 5 years | 6 years |
|---|---|---|---|---|---|
| RM10,000 (11% flat) | RM 508/mo | RM 369/mo | RM 300/mo | RM 258/mo | RM 231/mo |
| RM30,000 (10% flat) | RM 1,500/mo | RM 1,083/mo | RM 875/mo | RM 750/mo | RM 667/mo |
| RM50,000 (10% flat) | RM 2,500/mo | RM 1,806/mo | RM 1,458/mo | RM 1,250/mo | RM 1,111/mo |
| RM100,000 (9% flat) | RM 4,917/mo | RM 3,528/mo | RM 2,833/mo | RM 2,417/mo | RM 2,139/mo |
The total cost is the number to look at. A RM30,000 loan over 5 years at Maybank's 10% flat tier costs RM15,000 in interest — you repay RM45,000. Stretch the same loan to 6 years and the interest rises to RM18,000, because flat-rate interest is a function of tenure, not of your outstanding balance. On a flat-rate loan, a longer tenure is never cheaper. It only lowers the monthly figure.
Run your own amount and tenure through the SmarterPik loan calculator before you apply, and compare the total repayable rather than the monthly instalment.
See Live Rates from All Banks — Free on RinggitPlusWho Maybank Will Accept
Maybank's published criterion is short: Malaysian citizens, aged 21 to 60, earning RM30,000 per annum. Note what is not in it. Maybank does not publish a minimum employment length, a CCRIS condition, or a separate self-employed income bar in this FAQ, so this page no longer asserts any of them.
RM30,000 a year is roughly RM2,500 a month, which is lower than the RM3,500 monthly floor that circulates on comparison sites, this page included until today. If you sit between those two numbers, ask Maybank rather than trusting the higher figure.
Documents Maybank Asks For
| Salaried employee | Self-employed |
|---|---|
| Application form | Application form |
| Copy of NRIC (both sides) | Copy of NRIC (both sides) |
| Latest BE form with official tax receipt | Latest BE form with tax receipt of payment |
| Latest 2 months' salary slips | Business registration certificate (sole proprietor or partnership), or Form 9, 24 and 49 for a Sdn. Bhd. |
| Latest 3 months' savings or current account statements | Latest 3 consecutive months' bank statements |
The BE form is the bottleneck. Maybank asks for your latest tax form with the official receipt, not just payslips, and that is the document most applicants have to go and find. Sort it out before you start, or the 48-hour approval clock never begins.
How the Banks Compare, on Rate Basis
A league table of rate floors would be misleading here, because the banks do not publish on the same basis. Some quote flat, some quote effective, and an 8% flat rate is a worse deal than a 14% effective one. This table states what each lender publishes and what basis it publishes it on.
| Lender | What the lender publishes | Basis | Verified first-party |
|---|---|---|---|
| Maybank Personal Loan | 9% · 10% · 11% p.a. by loan size | Flat. No effective rate published | Yes — 17 Sep 2026 |
| Hong Leong Personal Loan | 8.50%–10.50% p.a. flat, stated by HLB as 15.99%–20.76% effective | Both published | Yes — 17 Sep 2026 |
| RHB Personal Financing | As low as 14.00% p.a., stated as equivalent to 7.62% flat | Effective | Yes — 14 Sep 2026 |
| AEON Credit Personal Financing-i | 0.66%–1.60% profit rate per month, stated as 13.57%–33.73% effective | Both published | Yes — 17 Sep 2026 |
| CIMB Cash Plus | No figure quoted here | CIMB advertises a headline rate but does not label it flat or effective | No — product page unreachable |
| Alliance Bank CashFirst | No figure quoted here | Not verified | No — product page unreachable |
Two rows deliberately carry no number. We could not load CIMB's or Alliance's own product page at the time of writing, and a rate we cannot source is worse than no rate at all. Earlier versions of this page quoted a rate floor for each of them that could not be traced back to either bank, so both figures have been removed rather than refreshed. See our Best Personal Loan Malaysia comparison for the wider market.
What You Cannot Change After Approval
This product is unusually rigid, and Maybank documents all of it. Read this section before you decide on an amount:
- You cannot decline it. You are deemed to have accepted the loan once it is approved and credited, even if the approved amount is lower than you asked for, and even if the money then sits unused in your account
- There is no offer letter to sign. Acceptance is automated on disbursement
- The rate is not negotiable. Maybank states rates are fixed and pre-determined at approval, based on the approved loan amount
- The tenure cannot be changed in either direction. To change it you must settle the loan in full and reapply
- You cannot restructure the monthly payment after disbursement
- You cannot use it to consolidate other debt directly. Maybank will not disburse to your other lenders; the money goes to your Maybank account
- A second Maybank personal loan is only possible once the first is fully settled
Honest Assessment
What works
- Genuinely fast: approval within 48 hours, disbursement the next working day, which is quicker than most incumbent banks publish
- No fee drag: no handling fee, no stamping, no service tax, and nothing deducted from the approved amount
- Accessible income bar: RM30,000 a year is one of the lower published thresholds among the big banks
- The 9% tier rewards borrowing more: above RM50,000 the flat rate drops two points, which is a real saving if you were borrowing that much anyway
- TreatsPoints equal to the approved amount, which is a small but genuine sweetener
What does not
- Flat-rate pricing: roughly 17%–21% p.a. on a reducing-balance basis by our calculation. The headline 9%–11% is not comparable to an effective rate
- No published effective rate: you have to ask for it, and every other lender in the table above publishes more than Maybank does
- Early settlement is punitive: RM200 or 3% of the outstanding balance, whichever is higher, in the first half of the tenure — and flat-rate interest means settling early saves less than borrowers expect
- Total rigidity after approval: no tenure change, no restructuring, no declining the facility
- Maybank account required for disbursement, so non-customers have an extra step
- Six-year cap on tenure, though on a flat-rate loan a longer tenure would cost you more anyway
When Maybank Makes Sense, and When It Does Not
Reasonable if
- You need the money in two or three days and have your BE form and payslips ready
- You are borrowing above RM50,000, where the 9% flat tier applies
- You already bank with Maybank, so disbursement is same-account and immediate
- You are certain about the amount and the tenure, because neither can be changed later
Look elsewhere if
- You are comparing on price. Get the effective rate and total repayable from at least three lenders first
- You might settle early. The 3% fee and the flat-rate structure both work against you
- You are borrowing a small amount, where the 11% flat tier bites hardest
- You want Islamic financing. Maybank states this facility is conventional only, with an Islamic version to come — see our Islamic Personal Loan Malaysia comparison
Maybank's personal loan is fast, fee-free at the front end, and expensive at the back end. The 9%–11% headline is a flat rate, which on a reducing-balance basis is roughly 17%–21% by our own calculation, and Maybank publishes no effective rate of its own to check that against. If speed matters more than price, it is a defensible choice. If price matters, ask three lenders for the effective rate and the total amount repayable over your exact tenure, and compare only those figures.
Frequently Asked Questions
What is the current Maybank personal loan interest rate in 2026?
Maybank publishes a Fixed Flat Rate, tiered by how much you borrow, not by your income or credit profile: 11% p.a. on RM5,000 to RM20,000, 10% p.a. on RM20,001 to RM50,000, and 9% p.a. on RM50,001 to RM100,000. Those are flat rates, which means interest is charged on the full original amount for the entire tenure even though your balance falls every month. Maybank does not publish an effective interest rate for this product. Working backwards from Maybank's own instalment formula, the equivalent reducing-balance cost is roughly 17% to 21% p.a. depending on amount and tenure, but that is our calculation and not a figure Maybank states. Ask Maybank for the effective rate and the total amount repayable in writing before you sign.
What is the minimum income to qualify for a Maybank personal loan?
Maybank's own personal loan FAQ states the criterion as: all Malaysian citizens, aged 21 to 60 years old, earning RM30,000 per annum. That works out to about RM2,500 a month, which is lower than the RM3,500 monthly figure widely repeated on comparison sites, including, until this update, on this page. We could not load Maybank's product page to verify whether a separate RM3,500 monthly floor is published there, so we are quoting only the figure Maybank states in the FAQ we could read. If you earn between RM2,500 and RM3,500 a month, do not rule yourself out on a third-party number. Ask Maybank directly.
How long does Maybank personal loan approval take?
Maybank states that loan approval is within 48 hours and disbursement is on the next working day after approval, subject to full documentation and information being received. That is faster than the three to seven working days this page previously claimed. The practical constraint is documentation rather than processing: Maybank asks for your latest BE form with the official tax receipt, which is the item most applicants do not have to hand. Funds are credited to a Maybank savings or current account only, so if you do not hold one you must open it before submitting the application.
What is the early settlement fee on a Maybank personal loan?
Maybank states the Early Settlement Fee as RM200 or a sum equivalent to 3% of the loan outstanding balance, whichever is higher, and it applies only if you settle within the first half of the loan tenure. On a RM50,000 loan settled early, 3% of the outstanding balance is substantially more than the 1% figure this page previously quoted. Settle in the second half of the tenure and no early settlement fee applies. Because this is a flat-rate loan, early settlement does not save you the full remaining interest the way it would on a reducing-balance loan, so check the settlement quote before assuming it is worth doing.
How is the Maybank personal loan monthly instalment calculated?
Maybank publishes the formula itself: principal, plus principal multiplied by tenure in years multiplied by the interest rate, all divided by the tenure in months. That is a flat-rate calculation. Worked through on a RM30,000 loan over 5 years at the 10% tier: interest is RM30,000 x 5 x 0.10 = RM15,000, total repayable is RM45,000, and the monthly instalment is RM45,000 divided by 60 = RM750. The interest does not fall as you repay. On a reducing-balance loan at 10% the same borrowing would cost about RM8,200 in interest rather than RM15,000.
Can I change the tenure, negotiate the rate, or decline the loan after approval?
No, no, and no, and Maybank states all three plainly. Interest rates are fixed and pre-determined at the point of approval and cannot be reduced on request. The tenure is fixed on approval and cannot be increased or reduced; to change it you must settle the loan and reapply. And you are deemed to have accepted the facility once it is approved and disbursed, regardless of whether the approved amount is lower than what you asked for or whether the money sits unused. There is no offer letter to sign, because acceptance is automated. Apply for the amount and tenure you actually want.
Is the Maybank personal loan cheaper than other banks?
On the evidence we can source first-party, no, but the honest answer is that most published comparisons are not comparing the same thing. Maybank publishes a flat rate of 9% to 11%. Hong Leong publishes a flat rate of 8.50% to 10.50% and states its own effective equivalent as 15.99% to 20.76%. RHB publishes 14.00% p.a. effective, which it states is equivalent to a 7.62% flat rate. AEON publishes monthly profit rates of 0.66% to 1.60%, and its own effective range of 13.57% to 33.73%. A flat 10% and an effective 10% are completely different prices for the same loan. Before you choose, ask every lender for the effective interest rate and the total amount repayable over your exact tenure, and compare only those two figures.
- Hong Leong Personal Loan Review 2026 — publishes both its flat and effective rates
- RHB Personal Loan Review 2026 — quotes an effective rate, not a flat one
- CIMB Personal Loan Review 2026 — RM 2,000 minimum income
- What Changes on 1 January 2027 — flat-rate personal financing ends for new agreements
- Best Personal Loan Malaysia 2026 — full market comparison