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|Differences||Personal Loan||Credit Card Cash Advance|
|Type||An unsecured loan or financing with fixed monthly payments.||A credit card facility that allows you to withdraw cash from your remaining card balance.|
Varies from loan providers and can take from one to several days to complete loan disbursement.
CIMB's Cash Plus Personal Loan offers next day approval to completed application submitted via our website (excluding weekends and public holiday)
|Instant cash withdrawal from the ATM or bank counter.|
|Amount||Amount approval is based on several factors such as income & credit score.||The amount available is based on the card’s remaining credit balance.|
Late repayment fee. Some loans might have a small documentation/stamp duty fee.
CIMB Cash Plus Personal Loan has zero applications fees - there is a late payment penalty though.
There is usually a one-time fee for cash withdrawal.
|How interest is calculated||
Fixed-rate. You pay a fixed monthly payment until the tenure is completed (tenures can range from one year up to 5 to 10 years).
CIMB Cash Plus Personal Loan offers tenure of up to 5 years.
|Usually up to 18% per annum calculated on a daily rest basis from the transaction date to the date it is settled in full.|
An unsecured, hassle-free term loan to fulfill your dreams. No collaterals. No guarantors. Convenient repayment tenure up to 5 years and loan amount up to RM100,000.
Get cash from your available credit limit with CIMB Bank/CIMB Islamic credit cards and repay in fixed installments.