Under BNM guidelines, a single loan repayment should not exceed 1/3 of your gross salary and all combined loan repayments cannot exceed 1/2 of your monthly gross pay.

If your monthly salary is not enough, perhaps the annual bonus can help, say monthly salary is RM3K with one month bonus, then your annualised monthly pay is

With Bonus RM3K * 12 months + RM3K (one month bonus) / 12 = RM3,250.
Max monthly repayment = RM3,250 * 1/3 = RM1,072 rounded down to RM1,070.

Without Bonus Max monthly repayment = RM3K * 1/3 = RM1,000

However, it does not help if based on the CCRIS you have a lot of outstanding Credit Card debts.

Popularity: 14% [?]

Bank Rakyat Personal loan process is so “SIMPLE“ nowadays, no need to go to bank. Now banks come to its potential customers. You can  fax in your details or just let Bank Rakyat dispatch collect it.

Jimat Masa, Jimat Tenaga dan Jimat Duit Minyak dan Tol

I would prefer the use would be to clear credit card balance with it’s lowest interest rate at 3.5%.

Here are the details:

• Lowest Interest Rate of 3.5%
• Up to RM 150,000
• Up to 15 year term
• No Guarantor (tanpa penjamin)
• 24hours approval ( belum cuba belum tahu )

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Popularity: 100% [?]

One of the tools used by banks to evaluate the credit worthiness of a customer is to refer to the CCRIS report obtained (and maintained) by Bank Negara Malaysia (BNM). Beginning August 2001, CCRIS has become a crucial tool to the decision-making of the bank to approve the customer’s application. The report provides for real-time and on-line functions for banks to query for computerized customer credit reports as well as report relevant credit information to BNM.

CCRIS gives valuable details to the bank such as:

• Details of all existing personal credit facilities of a customer, such as type of facility, and ownership of the credit facilities
• Details on the total financial commitment, which includes the balance outstanding and the total limit for each of the credit facilities
• Conduct of each credit facility for the past 12 months, including legal status
• Other relevant information such as Date of Information Update, Frequency of Payment and Type of Collateral.

However, before you get worried about your credit information being abused, please note that the information can only be accessed by authorized persons in the bank, and is not available to the public in general. Your credit report:

• Can only be obtained by the bank IF a formal CREDIT application is made by you to that particular bank
• Cannot be viewed by other banks, at any time
• Does not show your deposit / investment accounts
• Does not show from which financial institution you borrowed from
• Does not show the tenure of the credit facility enjoyed by you
• Does not show the conduct of facilities for periods above one year

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Popularity: 11% [?]

CCRIS it is somewhat a small collaboration between banks and Bank Negara Malaysia where credit information of all Malaysians are kept. CCRIS or Central Credit Reference Information System.

Most Malaysians may be amazed at how when you try to apply for a credit card or a bank loan or even a hire purchase on your next vehicular purchase, the bank or financial institution will know all your previous credit transaction. Each customer will be given a rating on how good a paymaster they have been and if they had been naughty and been missing out on their payment. It will also provide an overview of how much you have borrowed from financial institution.

I know this system rather well as I fully utilize banking facilities to help my business grow. Bank may charge exorbitant rates but if you can generate returns higher than the interest rate, it will make the transaction worth while.

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Popularity: 7% [?]

Extract from BHarian
PERNAHKAH terfikir bagaimana bank menilai keupayaan kredit kita sebagai pelanggan walaupun tiada butiran didedahkan atau pernahkah terfikir sejauh mana maklumat yang dimiliki bank mengenai corak kredit kita?
Jawapannya ada pada sebuah sistem pangkalan data yang dikenali sebagai ‘Central Credit Reference Information System (CCRIS)’ yang berfungsi sebagai tempat rujukan bagi bank.
Sehubungan itu, Persatuan Akauntan Bertauliah (ACCA) menghuraikan dengan terperinci peranan CCRIS yang membolehkan kita tahu mengenai Biro Kredit, sebuah badan yang bertanggungjawab mengumpul segala maklumat kredit kita.
Diuruskan oleh Bank Negara Malaysia , Biro Kredit dibentuk mengikut Akta Bank Negara Malaysia 1958 dan beroperasi sejak 1982.
Sejak itu, ia sudah mengumpul maklumat hampir lima juta peminjam di Malaysia, yang diperoleh daripada lebih 50 institusi kewangan di Malaysia merangkumi bank perdagangan, bank Islam, syarikat kewangan, bank saudagar dan beberapa institusi kewangan lain. Maklumat yang dikumpul disimpan dalam CCRIS.
Selain memainkan peranan penting sebagai tempat rujukan bagi institusi kewangan untuk membolehkan mereka memberi keputusan cepat dan maklumat terkini mengenai setiap peminjam, Biro Kredit juga sebenarnya adalah sebahagian strategi Bank Negara untuk menyemai amalan baik dalam pengurusan risiko kredit di kalangan institusi kewangan.
Apabila kita ingin meminjam wang dari institusi kewangan atau memegang kad kredit, maklumat kita akan dikemukakan kepada CCRIS. Antara maklumat itu ialah butiran peribadi seperti nama, kad pengenalan diri dan alamat serta butiran akaun kredit seperti jenis kemudahan kredit, had kredit, baki belum dijelaskan, tingkah laku akaun dan status untuk tindakan undang-undang, jika ada.

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Popularity: 5% [?]

So you have been to Bank Negara and receive your credit report, but still could not  understand those numbers. The explanations is in Malay.

Q-macam mana nak tau credit history kita tu kalau tak tengok sndiri ccris tu(bank negara report)??
A-pergi bank negara, pegi customer service counter, bagi i/c dan diorng print kan report ccris tu. dlm report tu ada segala loan facilities yg kita ambik ngan financial institution dan track record utk latest 12 bulan. cth:
credit card 0 0 0 0 1 2 3 2 1 0 0 0. (setiap no mewakili bulan utk latest 12mths)
0 = prompt
1 = 1 bulan arrears
2 = 2 bulan arrears
3 = 3 bulan arrears
kebanyakan bank, diorang akan reject case yg mana applicant ada due lebih 3
bulan ke atas, 2 bulan due pun kadang2 reject gak kalau byk kali jadi.
so drpd report yg kita dpt kat bnm tu, kita dah leh congak sendiri kebarangkalian loan yg kita nak apply tu sama ada bleh lulus ke tidak.
selain itu, jumlah penggunaan credit card pun kadang2 jadi isu walaupun kita bayar cantik. cth, kita ada 5 credit card setiap satu limit rm5000. dan masing2 pakai sampai maximum. mmg ada effect bila nak buat loan sbb kita di kategorikan sbg high gearing commitment.

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Popularity: 7% [?]