Calculate your monthly personal loan repayment. Most personal financing uses a flat rate, so we reveal the effective annual rate you actually pay.
Monthly instalment
RM 650.00
over 60 months · RM 39,000.00 total
Monthly instalment: RM 650.00
True effective rate
What you actually pay on a flat-rate loan
Total payment
RM 39,000.00
RM30k, 6% flat, 5 years
Flat interest RM9,000; effective rate ~10.9%.
≈ RM650 / month
RM10k, 8% flat, 3 years
Short flat-rate loans carry a high effective rate.
≈ RM344 / month
How the figures above are worked out — the rules, rates and reasoning behind every line.
Personal loans in Malaysia are usually charged at a flat rate on the original amount, so the headline rate understates the true cost.
Use the effective rate, not the flat rate, to compare a personal loan against other financing like a credit line or balance transfer.
Total interest = loan amount × flat rate × tenure in years, added to the loan and divided across the months. The instalment is fixed for the whole term.
Shorter tenures cost more per month but far less in total interest.
A 6% flat rate over 5 years works out to roughly 10.9% effective. Always check the effective rate before committing.
Most Malaysian personal loans use a flat rate charged on the original amount. Some banks offer reducing-balance financing, which is cheaper for the same headline rate.
Total interest (loan × flat rate × years) is added to the loan amount, then divided by the number of months for a fixed monthly instalment.
On a flat-rate personal loan the effective rate is roughly 1.8 times the flat rate. This calculator shows the exact effective annual rate for your inputs.
Every figure is based on official Malaysian sources. Always confirm against the originals before filing or making financial decisions.
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