Personal Loan Calculator
Planning for a personal project or debt consolidation? Use our calculator to see your monthly commitment based on flat interest rates.
Loan Details
Rate Comparison
Crucial infoUnlike mortgage, personal loans use "Flat Rates" which makes them more expensive than they appear.
Advertised Rate
5.99% Flat
True Cost (EIR)
0.00% p.a.
Total Cost of Credit
Monthly Repayment
flat interest rate
At a flat rate of 5.99%, your monthly repayment remains constant throughout the 5 years.
Monthly Repayment
RM 0
Monthly Repayment
flat interest rate formula
Advertised rate of 5.99% is actually 0.00% in real cost.
How Personal Loans Work in Malaysia
When you take a personal loan in Malaysia, the interest is usually calculated as a Flat Rate. This means the interest is calculated based on your original loan amount for the entire duration of the loan.
While flat rates look lower (e.g., 4% flat), they are actually more expensive than reducing balance rates (e.g., 4% p.a. on reducing balance) because you are still paying interest on the full amount even as you pay down the principal.