In Malaysia, the typical maximum loan tenure for personal loans set by Bank Negara Malaysia is ten years. However, individual financial institutions may offer varying loan tenures, which could be shorter or longer.

The minimum loan tenure can vary among financial institutions, but it’s commonly around one year. It’s essential to check with your chosen financial institution for their specific minimum loan tenure.

Your choice of loan tenure should align with your financial goals and repayment capacity.

Shorter loan tenures result in higher monthly payments but lower overall interest costs, while longer tenures offer lower monthly payments but may result in higher interest expenses.

Yes, most personal loans in Malaysia allow for early repayment. However, some banks may charge penalties for early repayment or have specific terms related to extra payments.

Under the Moneylenders Act 1951, the maximum interest rate for unsecured loans is capped at 18% per annum, while for secured loans, it is capped at 12% per annum.

The financing amount you can borrow is influenced by several factors, including your income, existing debt obligations, and credit history. Different lenders may offer a maximum loan amount of up to RM20,000, with loan terms ranging from 1 to 4 years, depending on their policies.

No, none of the licensed moneylenders on the Lendingpot platform will take your ATM card when you apply for a personal loan through us.

1. A copy of your NRIC (front & back)
2. Latest 3 months payslip
3. Latest 3 months bank statement
4. A copy of utility bill (i.e. water, electricity)
5. A copy of your EPF (detailed) contribution statement

A personal loan is a type of an unsecured loan. This means that you do not need to provide any collateral or have any guarantor in order to borrow money.

You may get the outcome of your loan approval in as quickly as 1-2 business days, provided all necessary documents are submitted in full and complete. Once the loan agreement is signed, the loan funds can be disbursed within approximately 1-2 working days.

Yes, you can do so.

1. Lendingpot operates as an online platform for personal lending, assisting borrowers in searching for, comparing, and applying for the most fitting financial solutions. We collaborate exclusively with moneylenders licensed by the Ministry of Local Government Development (KPKT).

2. Our services are completely free of charge, with no payments required from our users at any point. Moreover, we offer a RM10 cashback with every loan procured, making it an obvious choice!