Malaysia’s CIMB Bank unveils personal loan service for EPF members

They can receive up to RM50,000 in financing.

Malaysia’s CIMB Bank has launched a new personal financing service for eligible members of the Employees Provident Fund (EPF).

The Cash Plus Personal Loan Account Support Facility offers an introductory fixed rate of 4.5% per annum.

It is open to all eligible Malaysians aged between 40 and 55 with a minimum gross income of RM2,000 and a minimum balance of RM3,000 in their EPF Account. Eligible applicants will have financing access of up to RM50,000, contingent upon their EPF Account balance with a repayment tenure of up to 10 years.

Application can be done through CIMB’s online platform. The fully digital onboarding process will reportedly allow customers to independently navigate the website, complete eligibility checks, and submit their applications seamlessly.