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 |
Yeah… I managed to get old rate from Maybank which is 2.85%. Too bad that I failed to get 2.8%.
I get mine 2.55%. But that was 5 years ago. 🙂
Mine 2.45%, Public Bank, 4 years ago…moral of the story buy car during economic crisis, lower rate..:)
just want to ask, the rate is for both new car and second hand car or just for brand new car?
tq in advance
The rate is only for new cars.
I need the graphical chart for car loan intrest rates from 2009 to 2010
how about secondhand car loan rate for 2010
thanks
hi, can i know comparison on 2011??
so the best its muamalat bank??
thanks
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..:(
Hire Purchase or Car Loan Rate Comparison as of March 2010.
when WILL BE UPDATING FOR YEAR 2012 ?
TQ bro. tis is vy useful info… As i know the rate also base on car model. Jap car probably lower.