Best Easy Apply Personal Loans in Malaysia 2021

Applying for a personal loan online during COVID-19 lockdown made easy with these banks and through RinggitPlus

Simple application process. 24/7

Online Personal Loan Application During COVID-19 Crisis in Malaysia

With the recent virus COVID-19 outbreak that has made its way to our country at an alarming rate, more than half of the population have been hit hard economically due to the movement control order (MCO) imposed by the government.

The measure is taken to flatten the curve and allow the nation to heal. In the meantime, the partial lockdown may have caused some challenges to those who are looking to apply for emergency loans.

We heard your voices. Therefore, in this page you will find banks that are still offering and processing personal loans during MCO. All you need to do is apply online through RinggitPlus.

Which banks offer easy loan approval during a partial lockdown?

Banks that are offering and processing personal loan application during COVID-19 lockdown are HSBC, Alliance Bank, Standard Chartered and RHB.

Banks with easy apply personal loan applications

Bank Application Process Who Can Apply Disbursement Type Interest Rate Min Income Loan Amount Loan Tenure
HSBC 100% online* Existing customers only To HSBC/HSBC Amanah CASA 4.88% - 6.75% p.a. RM3,000 p.m. RM6,000 – RM250,000 24 - 84 months
Alliance Bank 100% online** All customers IBG Transfer to designated bank account 4.99% - 8.38% p.a. RM5,000 p.m. RM5,000 - RM100,000 12 - 84 months
Standard Chartered 100% online*** All customers IBG Transfer to designated bank account 5.50% p.a. RM2,000 p.m. RM2,000 – RM100,000 24 - 60 months
RHB 100% online**** All customers To RHB Current Account 8.18% - 13.45% p.a. RM1,500 p.m. RM2,000 – RM150,000 12 -84 months

*100% online loan application and processing applicable only to Existing-to-Bank (ETB) customers. ETB customer without a HSBC/HSBC Amanah current or savings account requires to open one by walking into the nearest branch.

**100% online loan application, processing, document submission and customer verification.

***100% online application. A Standard Chartered representative will come to you to perform customer verification.

****100% online application. Customer is required to walk into the nearest RHB branch to perform customer verification and open a current account.

How soon can the bank approve my loan application?

Banks will take several working days to process your loan application, provided you have completed document submission to the bank.

Due to the COVID-19 movement control order, however, expect a delay in getting your getting your personal loan approved. Rest assured; these banks will stay online for all your banking needs during this testing time.

You should also know that banks will take into account other factors in determining your loan approval, such as your credit history (record of your past repayments), credit score or credit rating, current financial commitments, income, employment type, debt service ratio, savings and other assets.

Easy approval loan applications and documents

It is worth noting that your personal loan application and document submission will be done 100% online during COVID-19 lockdown.

To speed up your personal loan application process, banks will require your prepare these documents:

Salaried Employee:

  • Copy of MyKad
  • Latest 3 or 6-months salary slip (depending on the banks)
  • Latest 6-months EPF statement
  • Latest Form BE or e-Form BE, with valid tax payment receipt
  • Latest EA Form


  • Copy of MyKad
  • Business Registration Certificate
  • Latest 3-months or 6-months company’s bank statements
  • Latest Form BE or e-Form BE, with valid tax payment receipt
  • Latest 6-months commission statements and bank statements (for commission earner)