Flat to Effective Rate
Many car loans and personal loans in Malaysia use a "Flat Rate" to make the interest appear lower. Use this calculator to uncover the True Effective Interest Rate (EIR) you are actually paying.
Loan Details
The advertised rate per annum.
True Effective Rate (EIR)
5.50%
This is the actual annual interest rate you are paying on the declining balance.
Monthly Installment
RM 1175.93
Total Interest
RM 27000.00
Total Payment
RM 127000.00