The Alliance Bank CashFirst Personal Loan is an unsecured financing option in Malaysia that provides borrowers with up to RM200,000 over a repayment tenure of 1 to 7 years. It requires no collateral or guarantor, making it accessible to a wide range of applicants. One of its main attractions is the flat interest rate structure, starting from 4.99% p.a. for 1-year loans and scaling up to 16.68% p.a. for longer terms. Borrowers also benefit from no processing fees and no early settlement penalties, provided they give 3 months’ written notice (or pay 3 months’ interest in lieu). A stamp duty of 0.5% applies, as required by Malaysian law, while late payments attract a 1% p.a. penalty on overdue instalments.
The Alliance Bank CashFirst Personal Loan is designed for convenience and speed, with approval and disbursement possible within 24 hours for applications made via digital channels such as the bank’s website or TNG eWallet GoFinance. This makes it suitable for urgent financial needs such as debt consolidation, education, or home improvements. Alliance Bank is also running promotions, such as a 30% cashback on interest paid for qualifying applications until 30 September 2025, further enhancing its appeal. With flexible loan amounts, transparent terms, and fast digital processing, the CashFirst Personal Loan stands out as a practical financing choice for Malaysians seeking quick and flexible funding.
Alliance Bank Personal Loan (CashFirst)
What Are the Interest Rates and Fees for the CashFirst Personal Loan?
The Alliance Bank CashFirst Personal Loan offers flat interest rates that start as low as 4.99% per annum for 1-year tenures, gradually increasing with longer repayment periods. For example, rates rise to 5.99% p.a. for 2 years, 9.99% p.a. for 3–4 years, and between 11.18% to 16.68% p.a. for 5–7 years, depending on the borrower’s profile and loan amount. Repayments are structured into fixed monthly instalments, making it easier for borrowers to budget and plan ahead. A loan of RM30,000 over 5 years at 5.5% p.a., for instance, would result in around RM8,250 in total interest, demonstrating how costs accumulate with tenure length.
In terms of fees, CashFirst is positioned as a transparent product with no processing charges and no early settlement penalties, provided borrowers give at least 3 months’ written notice (or pay 3 months’ interest in lieu). The only mandatory upfront cost is the 0.5% government stamp duty on the approved loan amount, while late payments incur a 1% p.a. penalty on overdue instalments. This fee structure keeps upfront expenses low and offers flexibility for borrowers who may want to repay earlier. It makes CashFirst competitive among unsecured personal loans in Malaysia.
How Much Can Borrowers Receive Through the CashFirst Loan?
Loan amounts under the CashFirst program vary based on income and creditworthiness. Eligible borrowers can access up to RM150,000, with tenure options ranging from 1 to 10 years. Higher salaries and strong credit histories typically qualify for larger sums.
Alliance Bank evaluates applications using criteria such as monthly income (minimum RM3,000 for salaried applicants) and employment stability. Self-employed individuals must provide additional documentation like tax returns or business financial statements.
What Is the Approval Process for the CashFirst Personal Loan?
Alliance Bank advertises a 24-hour approval timeline for complete applications submitted online. Applicants must submit identity proof, income verification (e.g., payslips or bank statements), and credit reports. The bank leverages automated systems for preliminary assessments, though manual reviews may delay decisions for complex cases.
Borrowers can apply via Alliance Bank’s website, branches, or partner platforms like TNG eWallet. Disbursement occurs within 48 hours post-approval, with funds transferred directly to the borrower’s account.
What Are the Eligibility Requirements for the CashFirst Loan?
Malaysian citizens and permanent residents aged 21 to 60 with a minimum monthly income of RM3,000 (salaried) or RM5,000 (self-employed) qualify. Alliance Bank also considers credit scores from agencies like CTOS or CCRIS, with scores above 650 preferred.
Applicants must have a clean credit history, free from recent defaults or bankruptcies. Existing Alliance Bank customers may receive preferential terms, such as higher loan amounts or discounted rates.
How Does the CashFirst Loan Compare to Other Personal Loans in Malaysia?
The CashFirst loan competes with similar products like Maybank’s Personal Financing and CIMB’s Cash Plus. Its 4.99% starting interest rate is lower than some competitors, though Maybank offers rates as low as 4.45% for selected customers.
Alliance Bank distinguishes CashFirst with its fee-free structure and TNG eWallet integration. However, loan amounts may be lower than those offered by larger banks, which provide up to RM250,000 for eligible borrowers.
What Are the Repayment Terms for the CashFirst Loan?
Repayment tenures span 1 to 10 years, with fixed monthly installments calculated using reducing balance interest. A RM50,000 loan over 7 years at 5.99% p.a. would require monthly payments of approximately RM730.
Alliance Bank allows extra repayments without penalties, enabling borrowers to reduce interest costs. Automatic deductions from a designated bank account ensure timely payments and avoid late fees.
Are There Any Promotions or Cashback Offers for the CashFirst Loan?
Alliance Bank occasionally runs promotions, such as cashback up to RM1,000 for successful applicants or waived first-month installments. These offers are time-bound and require applicants to apply through specific channels, such as the bank’s mobile app.
Interested borrowers should check Alliance Bank’s official website or partner platforms like RinggitPlus for current deals. Limited-time promotions may include lower interest rates for applicants who meet certain criteria, such as transferring salaries to an Alliance Bank account.
What Documents Are Needed to Apply for the CashFirst Loan?
Salaried employees must provide NRIC copies, 3 months’ payslips, and EPF statements. Self-employed applicants need business registration documents, 6 months’ bank statements, and income tax returns (Form B or BE).
Alliance Bank may request additional proof, such as employment confirmation letters or sales invoices for freelancers. Digital submissions via the bank’s online portal or TNG eWallet streamline the process.
Can the CashFirst Loan Be Used for Any Purpose?
Borrowers can allocate funds freely, whether for medical bills, weddings, or home upgrades. Alliance Bank imposes no restrictions, unlike specialized loans like education or car financing.
Common uses include consolidating high-interest credit card debt, where the CashFirst loan’s lower rate reduces overall interest payments. For example, settling a RM20,000 credit card balance at 18% p.a. with a CashFirst loan at 5.5% p.a. saves approximately RM12,500 over 5 years.
How Does Alliance Bank Ensure Transparency in the CashFirst Loan?
The bank provides a loan calculator on its website, displaying estimated monthly payments and total interest before application. All fees and terms are disclosed in the loan agreement, with no hidden charges beyond the stated interest rate.
Borrowers receive SMS updates at each stage, from approval to disbursement. Alliance Bank also assigns relationship managers to address queries, ensuring clarity throughout the loan lifecycle.
What are the Advantages of applying for an Alliance Bank CashFirst Personal Loan through TNG eWallet?
Applying for an Alliance Bank CashFirst Personal Loan through TNG eWallet offers borrowers a faster and more convenient experience compared to traditional channels. Since the platform can automatically pre-fill application forms with existing user data, the process is streamlined and reduces the need for repetitive documentation. Eligible applicants may also receive loan approvals in under 12 hours, which is quicker than the standard 24-hour processing timeline when applying directly through the bank. This speed makes it especially useful for those who need urgent access to funds.
In addition to efficiency, TNG eWallet provides exclusive perks and simplified eligibility checks. The integration with TNG’s credit scoring system allows for smoother pre-qualification, cutting down on the paperwork usually required. Borrowers can also enjoy promotional rewards, such as RM50 cashback for first-time applicants, making the loan more attractive. By combining speed, reduced hassle, and extra incentives, applying through TNG eWallet enhances both the accessibility and overall value of Alliance Bank’s CashFirst Personal Loan.
What Happens if a Borrower Defaults on the CashFirst Loan?
Late payments incur penalties of 1% per month on overdue amounts, with repeated defaults reported to CCRIS. Alliance Bank may initiate legal action after 90 days of non-payment, affecting the borrower’s credit score and future loan eligibility.
The bank encourages borrowers facing financial difficulties to contact its support team for restructuring options, such as extended tenures or temporary payment reductions.
How Does the CashFirst Loan Support Financial Planning?
Fixed repayments aid budgeting, while the option for early settlement allows interest savings. Borrowers can align tenures with financial goals, such as a 3-year loan for a short-term expense or a 10-year term for larger projects.
Alliance Bank provides free financial counseling to help borrowers manage debt effectively. Tools like the loan calculator enable scenario analysis, such as comparing 5-year versus 7-year repayment impacts.