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Car Loan Calculator Malaysia 2026 — Monthly Installment Table (All Banks) 2026
Calculate your car loan monthly installment in seconds. Includes tables for Proton, Perodua, Toyota, Honda at 3.5%–4.5% interest rate across 5, 7, and 9-year tenures. Plus: don't forget car insurance after buying.
How do I calculate my car loan monthly installment in Malaysia?
Formula: Monthly Installment = [P × r × (1+r)^n] / [(1+r)^n - 1], where P = loan amount, r = monthly interest rate (annual rate ÷ 12), n = total months. Example: RM80,000 loan at 3.5% for 9 years = RM808/month. Most Malaysian banks offer 3.3%–4.5% car loan interest rates. Use the tables below for quick reference.
Updated 2026 • Malaysia
Car Loan Interest Rates by Bank (Malaysia 2026)
| Bank | Interest Rate (p.a.) | Max Tenure | Notes |
|---|---|---|---|
| Maybank | 3.30% – 3.75% | 9 years | One of Malaysia's lowest rates. MyMaybank app application. |
| CIMB Bank | 3.45% – 3.90% | 9 years | Fast approval, competitive rates for new cars. |
| Public Bank | 3.35% – 3.80% | 9 years | PB Enterprise and hire purchase products. |
| RHB Bank | 3.50% – 4.00% | 9 years | RHB Auto Financing, strong panel of brands. |
| Hong Leong Bank | 3.40% – 3.85% | 9 years | Competitive, especially for Proton/Perodua. |
| AmBank | 3.50% – 4.20% | 9 years | AmBank AutoFinance, slightly higher rates. |
| Bank Rakyat (Islamic) | 3.50% – 4.00% | 9 years | Shariah-compliant hire purchase (Al-Ijarah). |
| BSN | 3.60% – 4.20% | 9 years | Government bank, slightly higher rates. |
Rates are indicative for 2026. Actual rate depends on your credit score, loan amount, and car brand. New national cars (Proton, Perodua) typically get lower rates than CBU imports.
Monthly Installment Table — 9-Year Tenure at 3.5% (Most Common)
| Car Price | 10% Deposit | Loan Amount | Monthly Installment | Popular Models |
|---|---|---|---|---|
| RM35,000 | RM3,500 | RM31,500 | RM318/month | Perodua Axia, Proton Iriz entry |
| RM45,000 | RM4,500 | RM40,500 | RM409/month | Perodua Bezza, Proton Saga |
| RM55,000 | RM5,500 | RM49,500 | RM500/month | Perodua Myvi, Proton Iriz |
| RM70,000 | RM7,000 | RM63,000 | RM636/month | Perodua Ativa, Honda City entry |
| RM85,000 | RM8,500 | RM76,500 | RM772/month | Honda City, Toyota Vios, Proton X50 entry |
| RM100,000 | RM10,000 | RM90,000 | RM909/month | Honda HR-V, Toyota Yaris Cross, Proton X70 |
| RM120,000 | RM12,000 | RM108,000 | RM1,091/month | Honda CR-V entry, Mazda CX-5 entry |
| RM150,000 | RM15,000 | RM135,000 | RM1,364/month | Toyota Camry, Honda Accord, Mazda CX-5 |
Calculated at 3.5% p.a. interest, 9-year (108-month) tenure, 10% deposit. Actual installment varies by bank rate and deposit amount.
How Tenure Affects Your Monthly Payment (RM80,000 Loan)
| Tenure | Monthly Installment | Total Interest Paid | Best For |
|---|---|---|---|
| 5 years (60 months) | RM1,456/month | RM7,360 | Lower total cost, higher monthly burden |
| 7 years (84 months) | RM1,072/month | RM10,048 | Balance between monthly and total cost |
| 9 years (108 months) | RM857/month | RM12,556 | Most common in Malaysia — lowest monthly |
Calculated at 3.5% p.a. interest on RM80,000 loan. Shorter tenure saves money overall but increases monthly commitment.
Car Loan Tips for Malaysian Buyers
Check Your CCRIS/CTOS First
Banks check your credit report before approving. Check CCRIS at BNM or CTOS online before applying. Clean up any missed payments first.
Bigger Deposit = Lower Rate
Some banks offer lower interest rates for deposits of 20–30%. On a RM80,000 car, 20% deposit saves RM400+ in interest over 9 years.
Compare 3+ Banks Before Deciding
Rate differences of 0.2% add up. On a RM80,000 loan over 9 years, 3.5% vs 3.7% = RM1,400 more in total interest.
Islamic vs Conventional Hire Purchase
Islamic hire purchase (Al-Ijarah) has the same effective rate but different structure. Choose based on your preference — rates are similar.
Don't Forget Car Insurance After Getting Your Loan
Car Insurance Is Mandatory — And You Can Get It Free (Effectively)
Car Loan for Proton & Perodua — What's Different
Proton and Perodua national cars typically get the most competitive car loan rates in Malaysia — often 3.3%–3.5% vs 3.8%–4.2% for non-national or CBU imports.
Proton: Most major banks offer Proton hire purchase. Proton also has in-house financing partnerships. Dealers often bundle loan approval, insurance, and road tax in one package.
Perodua: Perodua's authorized dealers work with all major banks. EON Bank (now part of Hong Leong) has strong Perodua financing history.
Tip: Get quotes from 3 banks AND the dealer's in-house financing. Dealers sometimes have access to lower rates for specific models during promotional periods.
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Car Loan Calculator Malaysia 2026 — Monthly Installment Table (All Banks) FAQ
Average car loan (hire purchase) interest rate in Malaysia is 3.3%–4.0% p.a. for new cars. Used car loans are typically higher at 4.0%–5.5%. Proton and Perodua national cars get the best rates (often 3.3%–3.5%). Luxury or imported cars attract higher rates of 3.8%–4.5%.
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