IBU Credit Personal Loan
A KPKT-licensed lender offering unsecured loans ranging from RM1,000 to RM30,000 with tenures of up to 12 months.
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Fees and Charges
Comparing and applying through CompareHero is free. Any fees, charges, interest rates, and final loan terms are set by the licensed lender.
Eligibility
- Salaried employee & army and police are not eligible
- Copy of identity card (front & back)
- Latest 3 months salary slip
- Latest 3 months bank statement
- Latest 2 years EPF statement
- Latest 1 month utility bill
Loan Repayment Table
| Financing Amount | Financing Tenure | Min. Income | Interest Rate |
|---|---|---|---|
| RM 1,000 - RM 30,000 | 3 - 12 months | min. RM 12,000 | 18.00% p.a. |
Features
Fast approval within a day with complete documents
No collateral is needed
Early settlement is possible
Low income requirement
Product Review by CompareHero
(Last updated: 22 September 2026)
What is IBU Credit Personal Loan about?
IBU Credit is a licensed money lender (KPKT Licence No. WL5772/10/01-11/020828 and Advertising Permit No. WP5772/10/01-11/020828) offering RM1,000 to RM30,000 to salaried Malaysians. You can use the loan for anything legal, such as debt consolidation, medical bills, or other personal needs.
What's the interest rate like?
IBU Credit charges a flat annual interest rate of 18%. That means interest is calculated on your full loan amount for the whole loan period, not on the smaller balance you owe as you pay it down.
Formula: I = (P + P×R×T)/M
Where:
P = Principal Loan Amount (e.g. RM30,000.00)
R = Annual Flat Interest Rate (18% or 0.18)
T = Loan Tenure in years (e.g. 1)
M = Total Repayment Period in months (e.g. 12)
For example, if you borrow RM30,000 over 12 months, you'll pay RM5,400 in total interest. That brings your total repayment to RM35,400, or RM2,950 a month. This doesn't include any extra fees, so your actual monthly payment might be a little higher once stamp duty and other charges are added.
Because interest is charged on your full loan amount for the whole tenure, your actual yearly cost ends up higher than the 18% rate you see advertised. This real cost is called the Effective Interest Rate (EIR), and it changes depending on how long you borrow for:
- 3 months: 26.80% a year
- 6 months: 30.23% a year
- 9 months: 31.32% a year
- 12 months: 31.72% a year
What are the applicable fees?
- Stamp Duty: Based on the Stamp Duty Act 1949 (Revised 1989)
- Late Penalty Fee: 8% p.a. on the overdue instalment amount
If you cancel your application before disbursement, any amount you owe is limited to lawful, clearly disclosed charges that apply to your loan.
What if I’m late in my loan repayments?
If you pay late, IBU Credit will charge you 8% per annum on the overdue instalment amount. Your interest won't compound either, meaning you'll never be charged interest on interest that's already built up.
Can I pay off my loan early?
Yes. Depending on your loan agreement, you might get back some of the interest you haven't paid yet. Just ask IBU Credit for a written settlement statement before you make your final payment, so you know the exact amount.
Who can apply for this loan?
To apply, you must be a Malaysian citizen aged 18 to 65 and live in Kuala Lumpur or Selangor. You must also be a salaried employee (army or police personnel aren’t eligible) earning at least RM1,000 a month.
Your salary must go into a bank account that shows contributions to the Employees Provident Fund (EPF), and you must have worked at your current job for at least one month. To apply, please prepare the following documents:
- A copy of your IC (both sides)
- Your last 3 months' bank statements
- Your last 3 months' payslips
- Your last 2 years' EPF statements
- Your most recent utility bill
How can I get in touch with IBU Credit?
You can reach IBU Credit through:
- Phone: +603 9081 9556
- WhatsApp: +6017-337 3792
- Office: No. 16-1, J-Avenue, Jalan J-Avenue, Bandar Tun Hussein Onn, 43200 Cheras, Selangor (open Monday to Saturday, 10am to 6pm)
- Facebook page