A personal loan is just one of the various types of loans available in Malaysia. Other types of loans include:
- A secured loan that requires you to put up your assets as collateral such as a car or mortgage loan.
- An overdraft facility that allows you to withdraw more money than you have in the bank account and is also known as a cash line facility.
- A hire purchase loan or car loan is a financial package that allows you to buy your automobile of choice – a car, a motorbike, a van, a truck, a lorry, etc.
- A mortgage loan that allows you to purchase your home for living in or for investing purposes.