Cimb Bank Personal Loan: Everything You Need to Know

Cimb Bank Personal Loan is a popular option for Malaysians looking to borrow money for various purposes. The loan offers competitive interest rates, ranging from 8.5% to 12.5% per annum.

Cimb Bank Personal Loan has a relatively low minimum loan amount of RM3,000, making it accessible to those who need a smaller amount. This is especially helpful for individuals who have a tight budget.

To be eligible for the loan, applicants must be at least 21 years old and have a minimum income of RM2,000 per month. This ensures that borrowers have a stable income to repay the loan.

The loan tenure can range from 1 to 7 years, giving borrowers flexibility to choose a repayment period that suits their financial situation.

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To be eligible for a CIMB personal loan, you must be a Malaysian citizen or a permanent resident of Malaysia. You must also be at least 21 years old and not more than 60 years old at the time of application.

Meeting these requirements does not guarantee approval for a personal loan, as the final decision is at the discretion of CIMB Bank. However, having a minimum monthly income of RM1,500 or more can increase your chances of getting approved.

To apply for a CIMB personal loan, you will need to provide proof of income, which can be a payslip, EPF statement, or business registration document. The specific requirements may vary depending on your employment status and type of business.

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The CIMB Personal Loan is a fully digital product that allows you to get a loan amount from ₱30,000 to ₱1 million. This loan is payable in 12 to 60 months.

To apply for the CIMB Personal Loan, you can expect the loan amount to be within this range.

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To be eligible for a CIMB personal loan, you must meet certain criteria. You must be a Malaysian citizen or a permanent resident of Malaysia, and be at least 21 years old and not more than 60 years old at the time of application.

Meeting these requirements does not guarantee approval for a personal loan, as the final decision is at the discretion of CIMB Bank.

To qualify for a CIMB personal loan, you must have a minimum monthly income of RM1,500 for employed individuals and RM2,000 for others.

Here are the specific income requirements:

For self-employed individuals, you must provide business registration documents and a minimum of 6 months company bank statement, or Form B/BE and LHDN payment receipt.

You must also have a good credit history and a low debt-to-income ratio.

The application process for a CIMB personal loan is straightforward and convenient. CIMB ensures that the initial approval of personal loans is done within 10 minutes.

To start the application process, you can visit the CIMB Bank website and navigate to the personal loans section. This is where you can choose the type of personal loan that suits your needs.

You can apply for a CIMB personal loan online, and the process is quite simple. Click on the "Apply Now" button to start the application process, and fill in the required personal and financial information accurately.

CIMB Bank will review your information and assess your eligibility for the loan once you submit the application form. The full and final approval can be within 24 hours, depending on the documents you've submitted.

There are no processing fees charged by CIMB to their customers. However, if you're applying for the CIMB Cash Plus loan, you'll need to pay a stamp duty fee of 0.5% if your application is approved.

If you're not comfortable applying online, you can also visit a CIMB branch near you to apply for a personal loan. Just make sure to bring all the required documents to make the process smoother.

Here are the steps to apply for a CIMB personal loan online:

You can check the status of your CIMB personal loan application by logging in to the CIMB Bank PH app, where you'll see a message saying that your loan is pending disbursement. You can also check your registered email for the loan contract.

To monitor the status of your loan and view your loan details, go to Credit and select Personal Loan in the CIMB Bank PH app. It's essential to regularly check your loan status and loan details to ensure everything is in order.

You can check the balance of your CIMB personal loan by logging in to your CIMB Bank online banking account, using the CIMB Bank mobile banking app, or contacting CIMB Bank's customer service hotline. Regularly monitoring your loan balance will help you make timely repayments and avoid any negative consequences.

As an existing CIMB borrower, you can apply for a personal loan through the mobile app. Simply log in to your CIMB account, and you'll be guided through the process.

To start, choose "Accounts" on the homepage of the app. From there, select "Add a Product" and then "Personal Loan". This will prompt you to choose the desired loan amount and loan tenure.

Next, perform the selfie check and provide any other required personal information. Review your loan application carefully before submitting it.

If you pass the preliminary check, you'll need to upload your income document/s and a photo of your company ID (if applicable). Then, choose your preferred disbursement channel.

Once your application is approved, you'll receive an offer that must be accepted before it expires. After acceptance, simply wait for the disbursement of your loan.

If your loan application is approved, you'll receive a push notification on your registered phone and email. To monitor the status of your loan and view your loan details, go to Credit and select Personal Loan.

You'll see a message on the screen saying that your loan is pending disbursement. This is a normal part of the process and indicates that the loan is being finalized.

Check your registered email for the loan contract as well. This is an important document that you'll need to review and understand.

If you're a new CIMB customer, you need to confirm your email address before the contract can be sent. This is a simple step that ensures you receive all the necessary information about your loan.

You can check the balance of your CIMB personal loan through online banking, mobile banking app, or by contacting CIMB Bank's customer service hotline.

To access your loan balance online, log in to your CIMB Bank online banking account and navigate to the personal loan section.

The CIMB Bank mobile banking app also allows you to access your personal loan balance with ease.

If you prefer to talk to someone, you can contact CIMB Bank's customer service hotline and provide the necessary details to inquire about your loan balance.

It's essential to regularly monitor your loan balance to ensure you make timely repayments and avoid any negative consequences.

Here are the methods to check your CIMB personal loan balance:

Here's a section on "Jadual Bayaran Bulanan" that's informative, practical, and easy to understand.

If you're taking out a personal loan with CIMB, you can expect to make regular monthly payments, known as anjuran bulanan.

The amount of your monthly payment will depend on the loan amount and the loan term, as seen in the example of a RM2000 loan with a 60-month repayment period.

For a loan of RM2000, your monthly payment could be as low as RM45, as illustrated in the jadual bayaran anjuran bulanan provided.

Keep in mind that the monthly payment amount may vary depending on your individual bank CIMB loan approval.

Additional reading: Loans Online with Monthly Payments