Maybank Personal Loan
Compare Maybank personal loan packages against offers from other leading banks in Singapore
About the provider
Maybank is Southeast Asia’s fourth largest bank by assets and is among Asia’s leading banking groups. It has 2,400 offices in 20 countries internationally and offers a vast range of products and services. As one of the Qualifying Full Bank (QFB) in Singapore, Maybank has proven its significant contribution to the country’s financial system by offering full corporate and consumer banking, investment banking, Islamic banking, stock broking, asset management and insurance products.
Maybank offers a full suite of financial solutions for all, be it corporations, businesses and individual requirements. With their global business footprint, private and global banking clients in particular can rely on them, as a gateway to vast opportunities internationally.
Why should I choose Maybank personal loan?
Take a load off your mind with Maybank CreditAble - your own credit line.
- With Maybank CreditAble, you can enjoy:
- 9% per annum interest rate for the first year
- Maximum loanable amount of 4x your monthly salary
- Flexible repayment for as low as 3% of the outstanding loan balance or $30, whichever is higher
- Attractive promotional rates for Fund Transfer and CreditAble Term Loan
- A standby facility that allows customers to pay the interest only on the amount used
- Waiver of annual fee for two years
- Attractive transfer rates with Maybank Visa Money Transfer for funds from CreditAble account to any Visa card abroad
What benefits does Maybank personal loan provide?
Banker’s Guarantee, Secured Overdraft, Education Loan, Home Renovation Loan
Maybank’s Banker’s Guarantee On your behalf, Maybank gives an unconditional guarantee to pay your potential customer on your behalf under their terms of requirement, the Maybank Banker's Guarantee which frees up your funds. It is as good as cash to your customer and you will be in a position to guarantee your due performance in a large project, and enables you to tender for big contracts.
With Maybank Secured Overdraft you'll have convenient access to extra cash by pledging your asset(s). There is no minimum income requirement and the credit limit is guaranteed to the value of your pledged asset(s). You will continue to own your asset(s) while accessing extra cash via a secured overdraft without liquidating them. It provides flexible capital management and you can easily access your secured overdraft via checkbook or ATM Card and online banking.
There is no minimum drawdown amount where you incur interest only on the actual amount of facility used, and the interest rate is from as little as their Prime Lending rate. This loan is available for Singapore Citizens or Singapore Permanent Residents with minimum 21 years of age.
Maybank Education Loan is available for local and overseas studies with attractive interest rate from 4.50% p.a. monthly rest and a flat processing fee of 2% on loan amount. You can loan up to 8X your monthly income, or S$200,000, whichever is lower. They offer flexible repayment period of up to 8 years (10 years for overseas studies) and gives you the choice of compensation schemes available to suit your needs.
To qualify for the education loan, Singaporeans and Permanent Resident students should have a minimum annual income of $18,000 for local part-time studies while $24,000 for guarantors. Student applicants should be at least 18 years old and 65 years old upon maturation of loan. On the other hand, guarantors should be at least 21 years old and 65 years old upon loan maturation.
Maybank Home Renovation Loan offers you a choice of flat rate or monthly rest packages, a loan amount of up to 6X your monthly income or S$30,000, whichever is lower, a loan tenure of up to 5 years and exclusive Home Renovation Loan package for Maybank Home Loan customers.
This loan is available for Singapore Citizens or Singapore Permanent Residents, minimum 21 to maximum 55 years of age upon loan maturity with a minimum income of S$24,000 p.a. for Single application, S$30,000 p.a. Combined income for Joint application (Minimum income of S$24,000 p.a. for Main applicant). Joint applicant must be a parent, child, sibling or spouse of the primary applicant.
How do I qualify for Maybank personal loan?
- Singapore Citizens, Singapore Permanent Residents
- Between 21-65 years old
- With a minimum annual income of $30,000
How do I apply for Maybank personal loan?
Applying for a personal loan with Maybank is easy via these following steps:
- Download the Maybank SG app from the AppStore or Google Play
- Visit any of those Maybank’s 21 branches in Singapore
Before applying, please note that the promotional rate of 9% per annum is valid from the opening date of the CreditAble Account for the first year. Maybank has the discretion to discontinue this privilege based on proper account conduct; otherwise, the standard rate of 19.8% will apply.
What other products does Maybank offer?
Maybank offers a variety of financial solutions to individuals aside from personal loan. These include:
- Credit cards – You can apply for Air Miles Credit Cards and Cash Rebate Credit Cards to enjoy the benefits and privileges. You can use the card for bill payments at AXS, enjoy cash rebates and TREATS points and get a chance to enjoy complimentary travel insurance.
- Investment banking – Maybank’s investment opportunities cover securities trading, dual-currency investment, structured deposit, wealth advisory and unit trusts. Maybank Research (brought to you by Maybank Kim Eng) provides market strategy reports which can be downloaded to get market insights.
- Insurance – Life insurance and general insurance products with Maybank are underwritten by Etiqa Insurance. Maybank provides extra protection against major twists in life with yearly cash benefits for 13 years. Moreover, personal accident insurance premiums get you covered against 22 infectious diseases