See roughly what your instalment could be.

Personal loans in Malaysia are commonly advertised at a flat rate. Interest is worked out on the original amount for the whole tenure, then added to the principal and divided into equal monthly instalments. For example, RM50,000 over 5 years at 6% flat is RM15,000 in interest, RM65,000 in total, or about RM1,083.33 a month.

Property loans, including cash-out refinance, use a reducing balance, and so does this estimator for personal loans and SME loans. Interest is charged each month only on what you still owe, so as the balance falls, more of each instalment goes towards the principal. For example, RM300,000 over 25 years at 4.2% is about RM1,616.83 a month, RM485,048.09 in total. Most property loans have variable rates tied to the bank's reference rate, so the instalment can change over time.

A flat rate and a reducing-balance rate with the same number are not the same cost. A flat rate usually works out to a noticeably higher effective rate, so compare the monthly instalment and the total payable rather than the headline rate. If a bank quotes you a flat rate for a personal loan, ask for the effective rate before entering it here.