|Condition||Maximum Years||Margin of Finance||Interest rate|
|New||9 years||90%||3.4% p.a.|
|Used||9 years||85%||4.25% p.a.|
How much the bank charges you based on your loan amount & loan period
You need to be 18 years of age or older to apply for this car loan.
That totally depends on the type of vehicle that you want to finance.
Generally, the bank can lend you up to 90% of the car's market price and offers you a maximum of nine years to repay your car loan.
You can choose either a fixed or variable rate for your monthly instalments. The variable rate is tied to the BR.
As for paying the money back, well, there are loads of options that make it easy to put cash on your car loan.
You can pay over-the-counter at your local Maybank branch, at an ATM, or online at Maybank2u.
Maybank charges you a heavy penalty for defaulting on your repayments - the charge is 8% per year on the total outstanding amount.
If the worst comes to the worst Maybank, as the owner of the vehicle, has the right to repossess your car. This can happen if you miss two monthly payments in a row.
Yes, of course, you can.
You'll be entitled to a rebate on the unearned interest for early settlement. It's only a partial refund of the term charges, so do not expect a large sum of money to fall into your lap if you pay off your debts early!
New vehicle or unregistered reconditioned vehicle:
Guarantor (compulsory for foreigners):
We’ll guide you through your application for this financial product