Car loan calculator Malaysia
Monthly instalment for a flat-rate hire purchase loan
A RM60,000 loan at 3.0% flat for 9 years costs RM705.56 a month, with RM16,200 in interest and RM76,200 repaid in total.
Monthly instalment
RM705.56
(RM60,000 + RM60,000 × 3.0% × 9) ÷ 108 months
Loan
RM60,000
Total interest
RM16,200
Total repaid
RM76,200
Method: flat rate, as used for hire purchase in Malaysia. Interest is charged on the full loan for every year.
How much is the monthly instalment on a RM60,000 loan?
| Loan amount | RM60,000 |
|---|---|
| Interest rate | 3.0%, flat |
| Years | 9 |
| Total interest | RM16,200 |
| Total repayment | RM76,200 |
| Monthly instalment | RM705.56 |
Interest: RM60,000 × 3.0% × 9 years = RM16,200.
Total: RM60,000 + RM16,200 = RM76,200.
Monthly: RM76,200 ÷ 108 months = RM705.56.
Questions about car loans
What is a flat rate?
Interest is charged on the full loan amount for every year of the loan, even as you pay it down. RM60,000 at 3.0% flat for 9 years adds RM16,200.
Which bank has the lowest rate?
We do not compare banks. Banks set their own rates, so ask your bank or dealer for the flat rate they offer.
Does this include road tax or insurance?
No, it covers the loan only. The road tax calculator works out road tax.
Last checked 25 Sep 2026 · Report a mistake