The CIMB Cash Plus Personal Loan is an unsecured personal financing product offered by CIMB Bank Malaysia, providing borrowers with flexible access to funds without the need for collateral or guarantors. Loan amounts range from RM2,000 up to RM100,000, with repayment tenures between 2 to 5 years, making it suitable for covering emergencies, consolidating debts, or funding planned personal expenses.
Among its standout features are fixed interest rates starting from 4.38% to 19.88% per annum, which translate to effective rates of 8.08% to 31.42% once compounding is included. The loan offers instant approval for eligible applicants and has no processing fees or early settlement charges, giving borrowers greater flexibility. It is open to salaried employees, self-employed individuals, and professionals who meet CIMB’s eligibility requirements, with disbursement made within 24 hours of approval to either CIMB accounts or other Malaysian bank accounts.
CIMB Personal Loan (Cash Plus) Rates and Requirements
What Are the Current Interest Rates for CIMB Cash Plus Personal Loan?
As of August 2025, the CIMB Cash Plus Personal Loan carries fixed interest rates ranging from 4.38% to 19.88% per annum, depending on the borrower’s credit profile, loan amount, and tenure. On an effective basis, taking compounding into account, the Effective Interest Rate (EIR) ranges from 8.08% to 31.42% per annum. These figures represent CIMB’s latest published rates for its flagship unsecured personal financing product.
Preferential rates are available for CIMB Preferred customers and those with CIMB@Work payroll accounts, offering more competitive pricing. For example, as of August 2025, a borrower applying for RM50,000 over 5 years at 6.88% per annum would pay about RM988 monthly in fixed instalments. With no processing fees, stamp duty, or early settlement penalties, CIMB ensures that the repayment amount remains transparent and easy to calculate throughout the financing period.
What Is the Maximum Loan Amount and Tenure Offered?
The CIMB Cash Plus Personal Loan offers financing amounts starting from RM2,000 up to RM100,000, making it suitable for both small and large borrowing needs. In certain cases, existing CIMB customers with excellent credit profiles may qualify for higher limits of up to RM300,000, subject to the bank’s internal assessment and approval. The loan tenures are flexible, ranging from 2 to 5 years, giving borrowers the option to balance between lower monthly instalments over a longer period or reduced overall interest costs with shorter terms.
Larger financing amounts generally require more stringent income verification and stronger repayment capacity. For example, a RM100,000 loan over 5 years at 10% per annum would equate to monthly instalments of about RM2,124, while opting for a shorter tenure significantly increases the monthly repayment but reduces the total interest payable. This flexibility ensures that borrowers can tailor the loan to match their financial circumstances and repayment ability.
Who Is Eligible for CIMB Cash Plus Personal Loan?
The CIMB Cash Plus Personal Loan is open to Malaysian citizens aged 21 to 58 years, with the loan required to be fully settled by the age of 60 at maturity. Applicants must have a minimum gross monthly income of RM2,000, ensuring affordability for the repayment obligations. For salaried employees, at least six months of continuous employment with the current employer is required, while self-employed applicants must demonstrate at least 24 months of consistent business operation with verifiable financial records.
Beyond these baseline requirements, approval is subject to a thorough review of the applicant’s credit history, income stability, and debt-to-income ratio. Borrowers with clean repayment records and manageable financial commitments stand a higher chance of approval. CIMB@Work customers, who have their salaries credited directly into CIMB accounts, may benefit from faster processing and preferential rates. Meanwhile, retirees or individuals with irregular income streams may face tighter scrutiny, as the bank prioritises applicants with predictable and reliable cash flow.
What Documents Are Required for Application?
For a CIMB Cash Plus Personal Loan application, the required documents depend on the applicant’s employment type. Salaried employees must provide their NRIC copy, the latest 3 months’ payslips, and an EPF contribution statement to verify income stability. Self-employed applicants are required to submit business registration documents (SSM), at least 6 months of bank statements, and their most recent tax returns (Form B or BE) to demonstrate consistent earnings.
For applicants with variable or commission-based income, CIMB may request up to 12 months of income records to better assess repayment capacity. Foreign workers with valid employment passes may also be eligible but must provide additional proof such as a valid work visa, employment contract, and salary crediting statements. Regardless of category, all documents must be clear, current, and complete, as missing or outdated records are a common cause of processing delays. This ensures a smoother approval process and faster disbursement.
How Does the Application Process Work?
The CIMB Cash Plus Personal Loan application process can be submitted online via CIMB Clicks or the bank’s official website.
- Applicants begin by filling in their personal, employment, and financial details, followed by uploading the necessary supporting documents such as NRIC, recent payslips, EPF statements, and bank statements.
- For eligible pre-qualified customers, CIMB may offer instant approval, while other applicants typically receive a decision within 24 to 48 hours after verification.
- Once approved, the loan amount is usually disbursed within one working day to the applicant’s designated bank account, whether CIMB or another Malaysian bank.
- Throughout the process, CIMB provides updates via SMS and email notifications, ensuring applicants are informed at each stage.
- To avoid delays, borrowers should ensure that all required documents are complete and accurate, as incomplete submissions or discrepancies are the most common reasons for prolonged processing times.
Are There Any Fees or Penalties?
The CIMB Cash Plus Personal Loan is structured to be cost-friendly, with no processing fees, no stamp duty, and no early settlement penalties. This means borrowers only pay their agreed monthly instalments without worrying about hidden upfront charges. In the event of late repayment, however, a 1% per annum penalty is imposed on the overdue instalment amount until it is cleared. To encourage discipline and convenience, CIMB offers auto-debit facilities from CIMB accounts, helping borrowers avoid missed payments.
For borrowers who wish to settle their loan early, CIMB allows full early settlement without additional costs, provided the bank is notified in writing. This flexibility benefits customers who may anticipate a future lump-sum payment, such as a bonus, inheritance, or asset sale, and want to clear their debt ahead of schedule. The absence of early settlement penalties makes this loan particularly attractive compared to some other products in the market that impose fees for early repayment.
What Are the Repayment Terms?
Repayments are fixed monthly instalments deducted via standing instruction from a CIMB account. The bank provides a repayment schedule upon approval, detailing principal and interest portions. Longer tenures reduce monthly burdens but increase total interest payable.
Missed payments affect credit scores and may trigger late fees. Borrowers can request repayment rescheduling under financial hardship, subject to bank approval.
Are There Special Promotions or Campaigns?
CIMB occasionally runs campaigns like device financing (e.g., Samsung promotions) or interest waivers for online applications. Current offers are listed on the bank’s website and may require minimum loan amounts or timely first repayments.
Promotional rates are time-bound and require applicants to meet specific criteria. Checking CIMB’s official channels ensures access to the latest deals.
How Does CIMB Compare to Other Banks?
CIMB’s Cash Plus Personal Loan competes with similar products from Maybank, RHB, and Public Bank. Its key advantages include no processing fees, instant approvals for select customers, and flexible tenures. Competitors may offer lower rates for high-income borrowers or longer tenures.
Comparing effective interest rates and fees across banks helps identify the most cost-effective option. CIMB’s transparency in disclosing EIRs aids borrowers in making informed decisions.
What Should Borrowers Consider Before Applying CIMB Cash Plus Personal Loan?
Before applying for a CIMB Cash Plus Personal Loan, borrowers should carefully evaluate their repayment capacity, existing financial commitments, and the actual purpose of the loan. Using CIMB’s online loan calculator can help estimate monthly instalments based on the requested loan amount, tenure, and applicable rate. This ensures borrowers understand the impact on their monthly budget. It is also important to avoid overborrowing, as this can create unnecessary financial strain. Opting for shorter tenures reduces the total interest paid over the life of the loan but increases the monthly instalment amount, requiring careful balance between affordability and cost savings.
A strong credit profile is equally important, as maintaining a good CCRIS/CTOS record improves approval chances and may lead to more favourable interest rates. Borrowers should also thoroughly review the loan’s terms and conditions, including repayment schedules, fees, and early settlement policies, to prevent surprises after disbursement. By assessing both financial readiness and contractual obligations in advance, applicants can make more informed borrowing decisions and ensure the loan aligns with their long-term financial goals.