Hire Purchase or Car Loan Rate Comparison as of March 2010



hire purchase

If you plan to buy a new car and do not know which banks give the best interest rates, you are at the right place. Just bear in mind that, the rate listed below are for new cars only.

The table below shows the current hire purchase or car loan package that banks in Malaysia offer as in March 2010 for comparison purpose. The package may change, so for confirmation, you can check with the respective bank.

Banks Max Margin of Financing (%) Max Financing Tenure (mth) Rate (% pa) Admin Charges(RM) Late Payment Charges (% pa)
Affin Bank 90 108 3.25 – 3.75 None 8
Alliance Bank 90 108 3.25 – 3.75 None 8
AmBank 90

90

96 – 108

84

3.75

3.5

None

None

8

8

Bank Muamalat 90 108 2.85 600 1
CIMB Bank 90 108 3.25 None 8
EON Bank 90 108 3.25 – 3.50 None 8
Hong Leong Bank 90

90

90

72 – 84

96 – 108

60

3.40 – 3.65

3.50 – 3.75

3.25 – 3.50

From 50

From 50

From RM50

8

8

8

Malayan Banking 90 108 2.70 – 4.30 None 8
Public Bank 90 108 3.37 to 4.06 From 45 8
RHB Bank 90

90

108

108

3.50 to 3.75

3.25 to 3.50

None

None

8

8


Leave a Comment

  • Jayce 1st April, 2010, 3:56 pm

    Yeah… I managed to get old rate from Maybank which is 2.85%. Too bad that I failed to get 2.8%.

    Reply
    • 1mdb.com 1st April, 2010, 8:53 pm

      I get mine 2.55%. But that was 5 years ago. 🙂

      Reply
      • kingjoke 21st March, 2012, 10:24 pm

        Mine 2.45%, Public Bank, 4 years ago…moral of the story buy car during economic crisis, lower rate..:)

        Reply
  • treec00l 8th April, 2010, 11:51 am

    just want to ask, the rate is for both new car and second hand car or just for brand new car?

    tq in advance

    Reply
    • 1mdb.com 8th April, 2010, 12:46 pm

      The rate is only for new cars.

      Reply
  • BALAJI 15th June, 2010, 11:56 am

    I need the graphical chart for car loan intrest rates from 2009 to 2010

    Reply
  • samantha lean 8th October, 2010, 1:58 am

    how about secondhand car loan rate for 2010
    thanks

    Reply
  • ariry 5th July, 2011, 12:08 pm

    hi, can i know comparison on 2011??

    so the best its muamalat bank??

    thanks

    Reply
  • kay 3rd December, 2011, 4:37 pm

    hi,i just want to ask you all,which bank gives the best interest rate for second hand car,either below or above 5yrs….plz help me….i’m confused now..:(

    Reply
  • SHA 21st March, 2012, 1:48 pm

    Hire Purchase or Car Loan Rate Comparison as of March 2010.
    when WILL BE UPDATING FOR YEAR 2012 ?

    Reply
  • kingjoke 21st March, 2012, 10:21 pm

    TQ bro. tis is vy useful info… As i know the rate also base on car model. Jap car probably lower.

    Reply