Personal Loan Calculator Malaysia
A RM30,000 personal loan at 6.00% flat over 5 years costs RM 650.00 a month and RM 9,000 in interest. That flat rate is really about 10.85% EIR. Flat-rate pricing for new personal loans ends on 1 January 2027. Enter your own offer below.
Your instalment
Monthly instalment
Loan RM 30,000 over 5 years · Equal to 10.85% EIR
| Total interest | RM 9,000 |
|---|---|
| Effective interest rate (EIR) | 10.85% |
| Flat rate equivalent | 6.00% |
| Stamp duty | RM 150.00 |
| Amount you receive | RM 29,850.00 |
| Total cost (interest + stamp duty) | RM 9,150 |
Yearly balance schedule
| Year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| 1 | RM 4,778 | RM 3,022 | RM 25,222 |
| 2 | RM 5,323 | RM 2,477 | RM 19,898 |
| 3 | RM 5,931 | RM 1,869 | RM 13,968 |
| 4 | RM 6,607 | RM 1,193 | RM 7,361 |
| 5 | RM 7,361 | RM 439 | RM 0 |
Excludes processing fees, takaful and late charges in your agreement.
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Personal loan instalment table at 6.00% flat
| Loan | 3 years | 5 years | 7 years | 10 years |
|---|---|---|---|---|
| RM 10,000 | RM 327.78 | RM 216.67 | RM 169.05 | RM 133.33 |
| RM 20,000 | RM 655.56 | RM 433.33 | RM 338.10 | RM 266.67 |
| RM 30,000 | RM 983.33 | RM 650.00 | RM 507.14 | RM 400.00 |
| RM 50,000 | RM 1,638.89 | RM 1,083.33 | RM 845.24 | RM 666.67 |
| RM 100,000 | RM 3,277.78 | RM 2,166.67 | RM 1,690.48 | RM 1,333.33 |
Flat rate to EIR
Compare offers by their EIR, not the flat rate. A longer tenure lowers the EIR slightly but raises the total interest.
| Flat rate | EIR, 3 years | EIR, 5 years | EIR, 7 years | EIR, 10 years |
|---|---|---|---|---|
| 4.00% | 7.51% | 7.42% | 7.30% | 7.11% |
| 5.00% | 9.31% | 9.15% | 8.97% | 8.69% |
| 6.00% | 11.08% | 10.85% | 10.58% | 10.21% |
| 7.00% | 12.83% | 12.50% | 12.16% | 11.69% |
| 8.00% | 14.55% | 14.13% | 13.69% | 13.12% |
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Personal loan rules in Malaysia
- Flat rate ends 1 January 2027: Bank Negara's revised fair treatment policy bans flat-rate pricing and the Rule of 78 for new personal financing; loans move to reducing balance with the effective rate disclosed.
- Stamp duty: 0.5% of the loan amount on the agreement.
- Licensed moneylenders: capped at 12% a year secured and 18% a year unsecured. Check the KPKT licence first.
- Above RM100,000: from January 2027, a short financial education module comes before approval.
- Home loan top-ups count as personal loans: from 1 January 2027, extra financing above the original home loan amount, or secured on a fully paid property, for personal use is treated as personal financing, with a maximum tenure of 10 years and the same DSR checks.
The formulas: flat-rate interest = loan × rate × years and instalment = (loan + interest) ÷ months; a reducing-balance instalment uses the standard annuity formula at the EIR.
Sources
- New Straits Times: flat-rate loans end from 2027
- RinggitPlus: the EIR on a personal loan
- Malay Mail: loans over RM100,000 from 2027
- Bank Negara Malaysia: Policy Document on Personal Financing
- Skrine: summary of the new personal financing rules
Disclaimer: Estimates only, not a loan offer or financial advice. Your offer letter decides the actual figures.
Frequently asked questions
What is the monthly instalment for a RM30,000 personal loan?
At 6% flat over 5 years, interest is RM30,000 × 6% × 5 = RM9,000, so the instalment is RM39,000 ÷ 60 = RM650 a month. That flat rate equals about 10.85% EIR.
Why is the EIR almost double the flat rate?
A flat rate charges interest on the full loan for the whole tenure, even though you repay part of it every month. The EIR charges only on what you still owe, so it takes a higher EIR to give the same instalment. 6% flat equals about 11.08% EIR over 3 years and 10.85% over 5 years.
What changes for personal loans in 2027?
Under Bank Negara Malaysia's revised fair treatment policy, new personal financing cannot be priced at a flat rate or use the Rule of 78 from 1 January 2027. Loans move to reducing balance, with the effective rate disclosed.
How much is the stamp duty on a personal loan?
0.5% of the loan amount, so RM150 on a RM30,000 loan. Most banks deduct it from the amount paid out.
What is the maximum interest a licensed moneylender can charge?
12% a year for a secured loan and 18% a year for an unsecured loan under the Moneylenders (Control and Licensing) Regulations 2003. Check the lender is licensed by KPKT before borrowing.
How much personal loan can I get?
Banks look at your debt service ratio, all monthly repayments divided by net income, and your credit record in CCRIS and CTOS. From January 2027, borrowers taking more than RM100,000 must first complete a short financial education module.
Can I settle a personal loan early?
Yes. A reducing-balance loan is settled by paying the principal still owed plus any fee in your agreement. Older flat-rate loans may use the Rule of 78, which returns less interest, so ask the bank for a settlement letter.
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