The Best Online Personal Loan in Malaysia 2020 - instaDuit

Looking for Fast Personal Loan Approval?

instaDuit - Possibly The Best Online Personal Loan in Malaysia.

Sometimes, a little spare cash goes a long way. Whether it is for a special occasion, a home makeover or an emergency – personal loans can come in handy in many ways.

Often, getting a bank personal loan can be a real hassle but it doesn’t always have to be that way. At instaDuit, we make personal financing easy, fast and friendly when you apply for a loan online with us.

So if you are looking for fast cash loan online and the best personal loan in Malaysia, you’re at the right place  – Go on, just instaDuit!

Personal Loan Pinjaman Peribadi
Personal Loan
Loan Eligibility
1. Salaried employee
2. Location: KL & Selangor
3. Min Income: RM1,500 per month
4. Age: 21 – 55 years old
Quick & Easy
No jargons. No complicated steps. Just get your documents ready and apply online in as little as 3 minutes.
No Hidden Fees
No surprises. We are upfront and transparent so that you won’t get any nasty surprises in the small print.

Follow these easy steps to apply online

Step 1
Use our personal loan calculator to pick your preferred loan amount & duration
Step 2
Provide your details & documents so that we can make a fair assessment for fast loan approval
Step 3
Upon approval, receive the cash loan in your bank account and start your monthly repayments

Our customers only have good things to say about us

Frequently Asked Questions

1. What is a Personal Loan?

A personal loan is money you can borrow which you are required to pay back within a predetermined period. A personal loan has 3 main components: loan amount, loan period and loan interest rate. Typically, people apply for personal loans for a variety of personal reasons such as paying off a credit card debt, buying gadgets, home renovation, education fees, wedding expenses, settle personal debts or anything really.

For fast personal loan approval, apply online now

2. Who can apply for an instaDuit personal loan?

You may apply for an instaDuit personal loan if you are:
  1. A Malaysian citizen
  2. Salaried employee
  3. 21 – 55 years of age
  4. Minimum gross income of RM1,500
  5. Working in KL, Selangor & Putrajaya
  6. Not declared bankrupt
  7. Not under AKPK’s debt management program

For fast personal loan approval, apply online now

3. What documents do I need to apply for an instaDuit Loan?

If you are currently employed, you would need:
  1. A copy of your NRIC (front and back)
  2. Latest 3 months payslips
  3. Latest 3 months bank statement that crediting your monthly salary
  4. Latest EPF or Tax Declaration Form (BE Form)
  5. Utility bill – Electricity, water, etc

For fast personal loan approval, apply online now

4. Do I need to have a bank account to apply for an instaDuit loan?

Yes, although this is a cash loan, borrowers must have an active bank account. A bank account is required for the loan amount to be paid to. The bank account needs to be registered with your name and current home address.

For fast personal loan approval, apply online now

5. What is the loan amount that I can apply for?

Our loan ranges between RM1,000 and RM10,000. However, any amount beyond that will be reviewed by our team on a case to case basis.

For fast personal loan approval, apply online now

6. Is there a minimum or maximum loan amount?

Yes, the minimum loan amount is RM1,000. The maximum loan amount is RM10,000.

For fast personal loan approval, apply online now

7. How long is the loan period?

We offer flexible loan repayments between 6 and 24 months.

For fast personal loan approval, apply online now

8. What is the personal loan interest rate for instaDuit?

Our personal loan interest rates ranges from 12% per annum with collateral (secured loan) to 18% per annum without collateral (unsecured loan)

For fast personal loan approval, apply online now

9. Are there any security deposit or advance installment fees when you apply for an instaDuit loan?

No, we do not take any security deposit or advance installment fees.

For fast personal loan approval, apply online now

10. Are there any charges that I have to pay when applying for a loan?

Yes, there are some statutory chargeable fees that you need to pay such as stamp duty etc.

For fast personal loan approval, apply online now

11. Do I need a guarantor or collateral?

We do not require any guarantor or collateral.

For fast personal loan approval, apply online now

12. How is the monthly repayment amount calculated?

Monthly repayment is calculated based on the following:

  1. Loan amount (a)
  2. Loan tenure in months (b)
  3. Flat interest rate of 1.5% per month (c)

Monthly repayment amount = [(a*b*c) + (a)] / (n)

For fast personal loan approval, apply online now

13. Is instaDuit a legal money lender or credit community?

Yes, we are a trusted legal licensed money lender and credit community. You may verify our license and info at this KPKT portal 

For fast personal loan approval, apply online now

14. Do you hold your customers' ATM card?

No, we will not request or hold our customers’ ATM card.

1. Will you be performing a credit bureau check on me?

Yes. As part of your loan application we will request your credit report from a leading credit bureau agency.

Credit bureau agencies give us a range of information about potential borrowers. Most of the information held by the credit reference agencies relates to how you have maintained your credit and public records including your debt repayment behaviour, insolvency and bankruptcy data.

For fast loan approval, apply online now

2. What is a credit history?

A credit history is the record of how a person has managed his or her credit in the past, including total debts, number of credit lines, and timeliness of repayments. Credit history is important because it indicates your ability to commit to a loan repayment. A person’s credit history is obtained from banks, credit card companies, collection agencies, and government agencies.

In Malaysia, one of the major credit reports that stores all your credit histories is the Central Credit Reference Information System (CCRIS).This credit report stores all your from all financial service providers in Malaysia for up to 12 months.

For fast loan approval, apply online now

3. What is a credit score?

A credit score, is a 3 digit number that indicates how good your credit worthiness is and how likely are you to be approved for your next loan.

A good credit score can increase your chances of getting a loan approved but a bad credit score presents serious problems with your personal finances and you are more likely to get rejected when applying for a personal loan.You can find out more about credit scores here.

For fast loan approval, apply online now

4. I have finished my part of the loan application, what happens next?

Once you have submitted your application, we will then complete the final checks to determine if you are eligible for the loan. During our final checks, our team may request some documentation from you in order to verify your identify.

You may be asked to provide some proofs of identity, home address, income and bank account. This protects you from criminals who might try to use your identity without you knowing.

If you are asked to provide these documentation, please make sure that:

  1. The name and address detailed on your identification is the same as the name and address you provide us during your application

  2. Your proof of address is dated within the last three months

  3. Your proof of bank account shows name and account number

For fast loan approval, apply online now

5. How long would it take before i know my application is approved?

We aim to get you a fast loan approval within 24 hours or less. This also depends on full documentation and information that you provided us.

For fast loan approval, apply online now

6. How are you able to deliver such fast loan approval?

We have built an intelligent digital platform that enables us to make a speedy approval decision for you.

However, to get fast loan approval, please be sure to submit all your complete documents accordingly.

For fast loan approval, apply online now

7. Why is the approved loan amount different from I applied for?

We consider each application carefully on an individual basis.

The eligibility for a loan or the approved loan amount will depend on your credit profile and our assessment of your ability to afford all repayments over the life of the loan. We also want to help make sure you’ll be able to make your monthly repayments without overstretching your finances.

For fast loan approval, apply online now

8. Why is my loan application rejected?

We consider each application carefully on an individual basis. There are a number of reasons why a loan application is not approved – ranging from poor credit history, low credit score to having too many loans. However, we are doing this because of your best interest so that you don’t overstretching your finances and get into money problems.

For fast loan approval, apply online now

9. Is my personal information safe with instaDuit?

Don’t worry, you can be assured that your personal information is in safe hands. We have strict policies and security when we process your data in accordance with our Terms of Use and Privacy Notice. We will never disclose your information to a third party without your consent.

1. My personal loan has been approved, what next?

Congratulations! We will invite you to review and sign the loan agreement. Once the loan agreement has been signed, the approved loan amount will be paid to your bank account.

2. How long would it take for my loan to be paid to my bank account?

We aim to deposit the approved loan amount to your bank account within 1 hour from signing the loan agreement.

3. How can I start paying my instaDuit loan repayments?

You can repay your loan via a number of ways:
  1. Internet Banking – Instant Transfer or Interbank GIRO (IBG)
  2. DuitNow
  3. Cash deposit
  4. MEPS ATM fund transfer

4. Can I settle my loan repayments fully earlier before the loan tenure?

Yes, you may. Early settlement charges apply if you wish to settle your loan fully before the end of the loan tenure.

5. What if I am late with my loan repayments?

We advise you to pay on or before the due date.
If you are late in your monthly payment, you will be charged a late payment charges as stipulated in your loan agreement.

6. I’m having some financial challenges, where can I get help?

If you have difficulties in making repayments, you should contact us as early as possible to discuss the repayment alternatives.

Alternatively, you may seek the services of Agensi Kaunseling dan Pengurusan Kredit (AKPK), an agency established by Bank Negara Malaysia to provide free services on money management, credit counseling, financial education and debt restructuring for individuals. For enquiry, please call 603-2616 7766.

7. What if I do not pay my loan back in full?

Legal action may be taken against you in the event of default of loan repayment. You will have to bear all cost, expenses and fees (including and without limitation of the solicitors cost) which the company may incur, in the enforcement to recover the loan.

Legal action against you may affect your credit rating which may lead to credit being more difficult or denied any loans from banks or lending companies in the future.

8. What do I need to do if there are changes to my contact details (phone, e-mail and address)?

It is important for you to inform us if there are any changes to your contact details to ensure that all communications reach you in a timely manner.

Before You Apply

1. What is a Personal Loan?

A personal loan is money you can borrow which you are required to pay back within a predetermined period. A personal loan has 3 main components: loan amount, loan period and loan interest rate. Typically, people apply for personal loans for a variety of personal reasons such as paying off a credit card debt, buying gadgets, home renovation, education fees, wedding expenses, settle personal debts or anything really.

For fast personal loan approval, apply online now

2. Who can apply for an instaDuit personal loan?

You may apply for an instaDuit personal loan if you are:
  1. A Malaysian citizen
  2. Salaried employee
  3. 21 – 55 years of age
  4. Minimum gross income of RM1,500
  5. Working in KL, Selangor & Putrajaya
  6. Not declared bankrupt
  7. Not under AKPK’s debt management program

For fast personal loan approval, apply online now

3. What documents do I need to apply for an instaDuit Loan?

If you are currently employed, you would need:
  1. A copy of your NRIC (front and back)
  2. Latest 3 months payslips
  3. Latest 3 months bank statement that crediting your monthly salary
  4. Latest EPF or Tax Declaration Form (BE Form)
  5. Utility bill – Electricity, water, etc

For fast personal loan approval, apply online now

4. Do I need to have a bank account to apply for an instaDuit loan?

Yes, although this is a cash loan, borrowers must have an active bank account. A bank account is required for the loan amount to be paid to. The bank account needs to be registered with your name and current home address.

For fast personal loan approval, apply online now

5. What is the loan amount that I can apply for?

Our loan ranges between RM1,000 and RM10,000. However, any amount beyond that will be reviewed by our team on a case to case basis.

For fast personal loan approval, apply online now

6. Is there a minimum or maximum loan amount?

Yes, the minimum loan amount is RM1,000. The maximum loan amount is RM10,000.

For fast personal loan approval, apply online now

7. How long is the loan period?

We offer flexible loan repayments between 6 and 24 months.

For fast personal loan approval, apply online now

8. What is the personal loan interest rate for instaDuit?

Our personal loan interest rates ranges from 12% per annum with collateral (secured loan) to 18% per annum without collateral (unsecured loan)

For fast personal loan approval, apply online now

9. Are there any security deposit or advance installment fees when you apply for an instaDuit loan?

No, we do not take any security deposit or advance installment fees.

For fast personal loan approval, apply online now

10. Are there any charges that I have to pay when applying for a loan?

Yes, there are some statutory chargeable fees that you need to pay such as stamp duty etc.

For fast personal loan approval, apply online now

11. Do I need a guarantor or collateral?

We do not require any guarantor or collateral.

For fast personal loan approval, apply online now

12. How is the monthly repayment amount calculated?

Monthly repayment is calculated based on the following:

  1. Loan amount (a)
  2. Loan tenure in months (b)
  3. Flat interest rate of 1.5% per month (c)

Monthly repayment amount = [(a*b*c) + (a)] / (n)

For fast personal loan approval, apply online now

13. Is instaDuit a legal money lender or credit community?

Yes, we are a trusted legal licensed money lender and credit community. You may verify our license and info at this KPKT portal 

For fast personal loan approval, apply online now

14. Do you hold your customers' ATM card?

No, we will not request or hold our customers’ ATM card.

During Application

1. Will you be performing a credit bureau check on me?

Yes. As part of your loan application we will request your credit report from a leading credit bureau agency.

Credit bureau agencies give us a range of information about potential borrowers. Most of the information held by the credit reference agencies relates to how you have maintained your credit and public records including your debt repayment behaviour, insolvency and bankruptcy data.

For fast loan approval, apply online now

2. What is a credit history?

A credit history is the record of how a person has managed his or her credit in the past, including total debts, number of credit lines, and timeliness of repayments. Credit history is important because it indicates your ability to commit to a loan repayment. A person’s credit history is obtained from banks, credit card companies, collection agencies, and government agencies.

In Malaysia, one of the major credit reports that stores all your credit histories is the Central Credit Reference Information System (CCRIS).This credit report stores all your from all financial service providers in Malaysia for up to 12 months.

For fast loan approval, apply online now

3. What is a credit score?

A credit score, is a 3 digit number that indicates how good your credit worthiness is and how likely are you to be approved for your next loan.

A good credit score can increase your chances of getting a loan approved but a bad credit score presents serious problems with your personal finances and you are more likely to get rejected when applying for a personal loan.You can find out more about credit scores here.

For fast loan approval, apply online now

4. I have finished my part of the loan application, what happens next?

Once you have submitted your application, we will then complete the final checks to determine if you are eligible for the loan. During our final checks, our team may request some documentation from you in order to verify your identify.

You may be asked to provide some proofs of identity, home address, income and bank account. This protects you from criminals who might try to use your identity without you knowing.

If you are asked to provide these documentation, please make sure that:

  1. The name and address detailed on your identification is the same as the name and address you provide us during your application

  2. Your proof of address is dated within the last three months

  3. Your proof of bank account shows name and account number

For fast loan approval, apply online now

5. How long would it take before i know my application is approved?

We aim to get you a fast loan approval within 24 hours or less. This also depends on full documentation and information that you provided us.

For fast loan approval, apply online now

6. How are you able to deliver such fast loan approval?

We have built an intelligent digital platform that enables us to make a speedy approval decision for you.

However, to get fast loan approval, please be sure to submit all your complete documents accordingly.

For fast loan approval, apply online now

7. Why is the approved loan amount different from I applied for?

We consider each application carefully on an individual basis.

The eligibility for a loan or the approved loan amount will depend on your credit profile and our assessment of your ability to afford all repayments over the life of the loan. We also want to help make sure you’ll be able to make your monthly repayments without overstretching your finances.

For fast loan approval, apply online now

8. Why is my loan application rejected?

We consider each application carefully on an individual basis. There are a number of reasons why a loan application is not approved – ranging from poor credit history, low credit score to having too many loans. However, we are doing this because of your best interest so that you don’t overstretching your finances and get into money problems.

For fast loan approval, apply online now

9. Is my personal information safe with instaDuit?

Don’t worry, you can be assured that your personal information is in safe hands. We have strict policies and security when we process your data in accordance with our Terms of Use and Privacy Notice. We will never disclose your information to a third party without your consent.
After Application

1. My personal loan has been approved, what next?

Congratulations! We will invite you to review and sign the loan agreement. Once the loan agreement has been signed, the approved loan amount will be paid to your bank account.

2. How long would it take for my loan to be paid to my bank account?

We aim to deposit the approved loan amount to your bank account within 1 hour from signing the loan agreement.

3. How can I start paying my instaDuit loan repayments?

You can repay your loan via a number of ways:
  1. Internet Banking – Instant Transfer or Interbank GIRO (IBG)
  2. DuitNow
  3. Cash deposit
  4. MEPS ATM fund transfer

4. Can I settle my loan repayments fully earlier before the loan tenure?

Yes, you may. Early settlement charges apply if you wish to settle your loan fully before the end of the loan tenure.

5. What if I am late with my loan repayments?

We advise you to pay on or before the due date.
If you are late in your monthly payment, you will be charged a late payment charges as stipulated in your loan agreement.

6. I’m having some financial challenges, where can I get help?

If you have difficulties in making repayments, you should contact us as early as possible to discuss the repayment alternatives.

Alternatively, you may seek the services of Agensi Kaunseling dan Pengurusan Kredit (AKPK), an agency established by Bank Negara Malaysia to provide free services on money management, credit counseling, financial education and debt restructuring for individuals. For enquiry, please call 603-2616 7766.

7. What if I do not pay my loan back in full?

Legal action may be taken against you in the event of default of loan repayment. You will have to bear all cost, expenses and fees (including and without limitation of the solicitors cost) which the company may incur, in the enforcement to recover the loan.

Legal action against you may affect your credit rating which may lead to credit being more difficult or denied any loans from banks or lending companies in the future.

8. What do I need to do if there are changes to my contact details (phone, e-mail and address)?

It is important for you to inform us if there are any changes to your contact details to ensure that all communications reach you in a timely manner.