First N Ever Personal Financing

(Last updated: 28 August 2026)

What is First N Ever Personal Financing?

This is an unsecured financing offered by First N Ever Financial Services Sdn. Bhd., a KPKT-licensed moneylender (KPKT License No: WL7285/10/01-4/040927), with over 20 years of experience providing financial assistance to Malaysians.

Since this is unsecured, you don't need collateral to apply for personal financing with First N Ever.

How much can I borrow, and what is the interest rate?

You can borrow between RM5,000 and RM300,000 with First N Ever Personal Financing, over tenures of 6 months to 36 months (3 years).

First N Ever calculates its financing on a flat-rate basis (12% to 18% per annum), so interest is calculated on the full principal for the entire tenure rather than on the reducing balance as you pay it down.

Formula: I = (P + P×R×T)/M

Where:

P = Principal Loan Amount (e.g. RM20,000.00)
R = Annual Flat Interest Rate (18% / 0.18)
T = Loan Tenure in years (e.g. 3)
M = Total Repayment Period in months (e.g. 36)

For example, at the lowest rate of 12% per annum, a RM300,000 loan over 36 months results in RM108,000 in total interest, bringing the total repayment to RM408,000, or RM11,333.33 per month. If your approved rate is at the higher end of 18% per annum, the same loan would generate RM162,000 in interest, resulting in a total repayment of RM462,000, or RM12,833.33 per month. This calculation does not include fees. Your actual monthly repayment will vary slightly once stamp duty and other charges are added.

Since flat-rate interest is charged on the full principal throughout the tenure, the true annual cost is higher than the stated 12%-18%. Note that the Effective Interest Rate (EIR) changes with tenure, so a different financing tenure will produce a different EIR.

What are the fees or charges?

Before you apply for First N Ever Personal Financing, you will need to pay the Stamp Duty Fee, in accordance with the Stamp Duty Act 1949 (Revised 1989).

First N Ever  does not require you to pay any advance instalment fee or security deposit before submitting your financing application. So rest assured!

What happens if I fail to repay my monthly instalments?

A late penalty fee may apply, limited to compensation for actual loss incurred. Penalty fees on default are restricted under the Moneylenders Act 1951.

How fast can I get my approved financing?

Once your First N Ever Personal Financing application is approved, you can potentially get the approved loan amount within three (3) to five (5) working days.

However, please note that this is subject to your eligibility criteria and First N Ever’s underwriting requirements.

Am I eligible to apply for First N Ever Personal Financing?

Any working or self-employed Malaysians aged 21 years up to 60 years who are not declared bankrupt are eligible to apply for this personal financing. You must also earn a minimum annual income of RM48,000 or RM4,000 a month to qualify for an application.

However, only individuals who live or work in the Klang Valley or Johor are eligible to apply. It doesn’t matter if you're from another state, as long as you’re now living or working in either of these areas, you’re eligible.

What are the required documents to make an application?

Please prepare the following documents to apply for First N Ever Personal Financing.

• Copy of your IC (front and back)
• Latest 3 months' salary slips
• Latest 3 months' bank statements from your salary crediting account
• Latest EPF or BE Form
• Original utility bill receipts such as electricity, water bills, etc.