Debt consolidation
Roll multiple high-interest debts into a single, cheaper monthly payment. RM 500 – RM 20,000.
50,000+
applications
RM 120M+
disbursed
4.9 / 5
on Google
A 6–8% flat consolidation rate works out to roughly 11–14.5% on a reducing basis, against the 15–18% p.a. most credit cards charge. Compare on the same basis before you sign.
Actual savings depend on your current card APRs and remaining tenure. Ask us for a written comparison before signing.
Compare to 15–18% p.a. on most Malaysian credit cards
Sized to clear your existing balances in full where possible
Shorter terms save the most interest; 2–3 years balances instalment and total cost for most borrowers
Funds arrive in your account; you settle old balances directly
Eligibility
Consolidation works best when you have multiple small- to mid-size debts with rates noticeably higher than what a personal loan offers.
Consolidation is a tool, not a cure. If you owe significantly more than RM 30,000 across cards and loans, speak to AKPK (free Malaysian credit counselling) first — we'll point you to their hotline.
Why MyTrustCredit for consolidation
Three reasons borrowers trust us for consolidation specifically.
Fees & charges
Watch out for these — the right consolidation saves money only if the new fees don't eat the interest savings.
| Item | Typical range | Notes |
|---|---|---|
| Processing fee | 1% – 2% of loan · or RM 50 – RM 100 flat | Factor into your savings calculation |
| Stamp duty | 0.5% of loan · min RM 10 | Applied once on the new consolidated agreement |
| Early settlement | Up to 3 months of remaining interest | Lower if you make large lump-sum payments after a windfall |
| Late payment | 1% p.m. on overdue | Defeats the purpose of consolidation — auto-debit is strongly recommended |
Processing fee
1% – 2% of loan · or RM 50 – RM 100 flat
Factor into your savings calculation
Stamp duty
0.5% of loan · min RM 10
Applied once on the new consolidated agreement
Early settlement
Up to 3 months of remaining interest
Lower if you make large lump-sum payments after a windfall
Late payment
1% p.m. on overdue
Defeats the purpose of consolidation — auto-debit is strongly recommended
Ask our loan officer at MyTrustCredit to break down the total repayable side-by-side with your current debts. A good consolidation should save at least 10% over the remaining tenure.
By the numbers
50,000+
Applications processed
Since our 2023 launch
RM 120M+
Total disbursed
Direct loans from MyTrustCredit to Malaysians
30-Min
Avg callback time
Mon–Sat, 9am–8pm MYT
4.9★
Google rating
From 1,247 verified reviews
Real stories
Composite examples from applicants who saved RM 1,000+ through consolidation.
Kavitha from Klang
RM 12,000 · 36 months
Was paying only the minimum on two credit cards at 17.5% p.a., which would have taken almost eight years and about RM 4,700 in interest to clear. Consolidated into one 6.5% flat instalment of RM 398 over 36 months, saving roughly RM 2,000 in interest after fees and clearing the debt more than four years sooner.
Fahmi, new father
RM 9,500 · 48 months
Three smaller debts (cards, a furniture instalment, a BNPL backlog) with different due dates each month. A MyTrustCredit consolidation gave him one fixed payment on the 5th — easier to budget around baby expenses.
Yan Ling, nurse
RM 6,000 · 24 months
Paid off a revolving card balance she'd been carrying for 18 months. Closed the card as part of MyTrustCredit's conditions, taking her monthly commitment from about RM 450 in card payments to a fixed RM 280 instalment over 24 months.
Savings depend on the rates and remaining tenure of the debts you're consolidating. We'll help you model it before you sign.
WL10287/2024
KPKT Licensed
Licensed moneylender
AES-256
PDPA 2010
Data encryption
202401034587-D
SSM Registered
MyTrustCredit Sdn Bhd
256-bit TLS
SSL Secured
End-to-end TLS
50,000+
Applications
Malaysians served
4.9 ★
Google Rating
1,247 reviews
How it works
No calls, no fax, no branch visits. Everything happens online or via WhatsApp directly with MyTrustCredit, your licensed moneylender.
Why MyTrustCredit
MyTrustCredit is a KPKT-licensed moneylender (WL10287/2024) — not an Ah Long, not a middleman, just your direct lender.
MyTrustCredit holds a KPKT moneylender licence (WL10287/2024), audited and renewed annually under the Moneylenders Act 1951.
Learn moreYour data is encrypted, access-audited, and processed only by MyTrustCredit's lending team. Never sold.
Learn moreMyTrustCredit is licensed to lend under KPKT — the opposite of an Ah Long. If we can't approve your loan, we tell you. We won't redirect you to unlicensed lenders — ever.
Learn moreVersus the alternatives Malaysians usually consider.
| MyTrustCredit | Ah Long | Direct to bank | |
|---|---|---|---|
| Licensed | Yes | No | Yes |
| Fast callback | 30 min avg | Instant | 3–7 days |
| No harassment | No | Yes | No |
| Direct lending decisions | Yes — in-house | No | One bank only |
| Free to apply | Yes | Hidden fees | Yes |
Questions?
The most important things to understand before you consolidate.
You take one new loan from MyTrustCredit big enough to settle your existing debts, then use the disbursed amount to pay off those cards and loans yourself (or MyTrustCredit pays them on your behalf where supported). You end up with a single, usually cheaper, fixed monthly instalment instead of multiple variable-rate debts.
Short-term: a new account opens, which can dip your score slightly. Long-term: closing high-utilisation cards and making on-time fixed payments almost always improves your score within 6 – 12 months. Missing payments on the new consolidated loan is the one thing that will hurt you.
Yes, as long as the total (including fees) sits within MyTrustCredit's approved limit — typically up to RM 20,000. Bring a full list of balances, rates, and minimum payments so our loan officer can structure it properly.
MyTrustCredit offers both models: direct settlement (we send the payments to your old creditors on your behalf, which avoids the temptation to redirect the money) or disbursement to your account so you pay. Your loan officer will confirm which option applies before signing.
No. Government-backed loans like PTPTN have subsidised rates that are already cheaper than MyTrustCredit can offer. Keep PTPTN separate and consolidate only your commercial debts.
See whether consolidation actually saves you money — in writing, before you commit.
A soft enquiry. Your existing lenders won't be notified during the review.
Ready?
Free. No credit score impact just to check. KPKT-licensed moneylender.
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Licensed direct lender
KPKT-licensed moneylender — WL10287/2024.
2-minute check
Under two minutes to see what you qualify for.
Up to RM 88 cashback
Credited after your loan is disbursed.