{"id":1303,"date":"2012-09-13T12:50:50","date_gmt":"2012-09-13T04:50:50","guid":{"rendered":"http:\/\/blog.imoney.my\/?p=1303"},"modified":"2013-05-02T17:19:44","modified_gmt":"2013-05-02T09:19:44","slug":"personal-loan-in-malaysia-explained","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/personal-loan-in-malaysia-explained","title":{"rendered":"Personal Loan In Malaysia – Explained"},"content":{"rendered":"

A personal loan is basically a short-term loan, whose repayment period is shorter compared with a mortgage. Whereas mortgage requires a time-span of 10, 20 or 30 years, a personal loan usually goes for about one to five years in repayment period. This service is basically provided by banks at a cost, known as interest rate on the debt itself.<\/p>\n

Personal loan enables an individual to fulfill their personal desires and other necessities, be it paying for a car, travelling, renovating homes, covering current medical expenses and the list goes on. It is a type of debt which is neither a business loan nor a long-term home loan.<\/p>\n

Personal loan could also be used in such a way that allows an individual to cover current debts, whereby it is used to combine several other loans into one. This is what we call debt consolidation<\/em>. Individuals who take out a debt consolidation loan basically consolidate all their high-interest rate debts and combine it into a single, lower interest rate loan.<\/p>\n

In short, a personal loan is basically a loan that provides financial relief in the form of cash advance to borrowers.<\/p>\n

It is usually hassle-free as it does not involve a complicated process, has simpler requirements and last but not least, faster approval.<\/p>\n

Looking for a hassle-free personal loan? Check out iMoney’s personal loan comparison table<\/a> for the best rates!<\/p>\n","protected":false},"excerpt":{"rendered":"

A personal loan is basically a short-term loan, whose repayment period is shorter compared with a mortgage. Whereas mortgage requires a time-span of 10, 20 or 30 years, a personal loan usually goes for about one to five years in repayment period. This service is basically provided by banks at a cost, known as interest… View Article<\/a><\/p>\n","protected":false},"author":1,"featured_media":2582,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9],"tags":[],"class_list":["post-1303","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-personal-loan"],"acf":[],"yoast_head":"\nPersonal Loan In Malaysia - Explained<\/title>\n<meta name=\"description\" content=\"It is common for people to take out a personal loan in Malaysia, but many don't know how such a loan works. 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