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Financial emergencies can happen to anyone, at any time. You might lose your smartphone or laptop, your car might break down, or you might face a big and unexpected medical bill.


When the unexpected happens and you realise that your salary and savings are not enough*, how can you raise funds quickly to last you until your next paycheck? If you’re not keen to seek monetary help from your family members, here are some options you can consider:

Use a credit card

It’s a no-brainer that a credit card can be extremely useful for emergencies. You can either use it to settle an unexpected bill (some banks allow you to settle the full bill via instalment plan) or to help you with other monthly commitments for the time being.


Once you’re back on your feet, you can explore ways to settle the outstanding debt efficiently, such as a balance transfer programme.

Apply for a personal loan

If you need a significant amount of cash, you can consider a personal loan. You’ll get a fixed amount of cash that you can pay back in 2 to 10 years. However, personal loans require monthly commitment, so take some time to research and find the best one for you.


Check out a comparison between a credit card and a personal loan below:

  Personal Loan Credit Loan
Sum Financing can range from RM5,000 toRM250,000.  The amount you can use depends on your credit limit.
Benefit Receive your loan in cash. Maximise savings with cash backs, special discounts and zero-instalment plans.
What to watch out for Some personal loans may require a few approval days. If you need cash urgently, look for a personal loan that offers fast approval Cash withdrawal using your credit card will incur a high-interest rate. 

Withdraw money from your EPF Account 2

Did you know that you can withdraw your EPF Account 2 savings for selected medical emergencies or to get funds for your monthly mortgage commitments? Learn more from EPF.

Sell something you can let go of

It can be hard to let go of your things, but you can consider selling something you own if you need money urgently. These can be collector’s items or electronic gadgets like old smartphones** and gaming console. If you can afford to do so, you could even downgrade your devices and sell your current ones.

Replenish your fund with a side job

If the emergency left only a few bucks in your savings, don’t be disheartened. Instead, focus on replenishing your fund with a side job that doesn’t require much of your time. For example, you can earn money by transforming your car into a billboard using apps like Moola and MyBump. You can also check out websites like TheKedua or sign up for ride-hailing services as a part-time driver.


Financial emergencies can be stressful, but with careful research and decision-making, you can get back on your feet. And once you can, try setting up an emergency fund to stay prepared for future emergencies.





This article is brought to you by CIMB as part of our ongoing efforts to raise the level of financial literacy among Malaysians. Financial knowledge and understanding are key to making well-informed and meaningful financial decisions that will improve our well-being. This, in turn, achieves CIMB’s purpose of advancing customers and society.