Kavitha from Klang
RM 12,000 · 36 months
Was paying 17.5% p.a. on two credit cards plus a 9% personal loan. Consolidated into one 6.5% instalment. Monthly payment dropped from RM 590 to RM 370, saving about RM 7,900 over three years.
Debt consolidation
One instalment. One date. One lender.
Roll multiple high-interest debts into a single, cheaper monthly payment. RM 500 – RM 20,000.
4.9· 1,247 Google reviews
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Get 0.5% cashback on every loan
50,000+
applications
RM 120M+
disbursed
4.9 / 5
on Google
SSL 256-bitPDPA-safeGoogle VerifiedRM 500 – RM 20,000 · ~4% p.a.
Debt consolidation
Rates, limits and timelines for consolidation
Consolidation rates are typically 30–60% cheaper than rolling credit card balances (which sit at 15–18% p.a.).
Actual savings depend on your current card APRs and remaining tenure. Ask us for a written comparison before signing.
- Rate range
- From 4% p.a.
- Amount
- RM 500 – RM 20,000
- Tenure
- 1 – 5 years
- Disbursement
- 24 – 72 hours
Compare to 15–18% p.a. on most Malaysian credit cards
Sized to clear your existing balances in full where possible
3-year terms tend to hit the sweet spot for savings
Funds arrive in your account; you settle old balances directly
Eligibility
Who qualifies for consolidation
Consolidation works best when you have multiple small- to mid-size debts with rates noticeably higher than what a personal loan offers.
- Aged 21+ with a valid Malaysian MyKad
- Stable monthly income of at least RM 2,000 — we need to confirm you can service the new consolidated instalment
- CCRIS with no active default in the last 12 months (late payments are OK, formal defaults are not)
- Current total unsecured debt (cards + small loans) under RM 30,000
- Debt Service Ratio after consolidation below 60% of net income
- Willing to close or significantly reduce limits on the credit cards you're paying off — MyTrustCredit may require this in the Letter of Offer
- No recent consolidation in the last 6 months (MyTrustCredit generally won't stack consolidations)
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
Built for people trying to get out of debt, not further in
Three reasons borrowers trust us for consolidation specifically.
- Transparent savings math — we show the before/after total interest cost side by side, no fuzzy "you'll save a lot" claims.
- If we think you shouldn't consolidate, we'll say so. Some applicants are better off with AKPK's Debt Management Programme, which is free.
- No upfront fees. MyTrustCredit earns only from the interest on loans we issue, within KPKT caps — no incentive to push a worse deal onto you.
Fees & charges
The true cost of consolidating
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
Trusted by Malaysians, powered by data
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
How Malaysians consolidate smartly
Composite examples from applicants who saved RM 1,000+ through consolidation.
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, which cut her monthly commitments and freed up about RM 450/month.
Savings depend on the rates and remaining tenure of the debts you're consolidating. We'll help you model it before you sign.
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How it works
From application to cash in 4 steps
No calls, no fax, no branch visits. Everything happens online or via WhatsApp directly with MyTrustCredit, your licensed moneylender.
Why MyTrustCredit
Safer than the alternatives
MyTrustCredit is a KPKT-licensed moneylender (WL1234/5678) — not an Ah Long, not a middleman, just your direct lender.
Licensed & regulated
MyTrustCredit holds a KPKT moneylender licence (WL1234/5678), audited and renewed annually under the Moneylenders Act 1951.
Learn morePDPA-protected
Your data is encrypted, access-audited, and processed only by MyTrustCredit's lending team. Never sold.
Learn moreNever an Ah Long
MyTrustCredit 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 more
How we compare
Versus 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?
Debt consolidation FAQs
The most important things to understand before you consolidate.
How does debt consolidation actually work?
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.
Will consolidation hurt my CTOS / CCRIS score?
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.
Can I consolidate 10 small debts?
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.
Does MyTrustCredit pay off my old debts directly?
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.
Can I consolidate a PTPTN / education loan?
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.
Trade five due dates for one.
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.
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Up to RM 88 cashback
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