Malaysia's Financial Calculator Hub
Calculate instalments, EIR, road tax & DSR eligibility — accurate, up to date, BM first.
- 4
- Calculators
- BM
- First
- EIR
- Honest, not an ad figure
- 2026
- Up to date with the Act
Car Loan
Instalments, real EIR, road tax & DSR eligibility — updated for the 2026 Act.
Open calculator → 02Home Loan
Housing instalments, stamp duty, legal fees & the true cost.
Open calculator → 03Personal Loan
Flat-rate instalments + EIR & how much you can borrow.
Open calculator → 04ASB Financing
Compare ASB dividends vs financing cost + the break-even rate. Neutral.
Open calculator →What the EIR is — and why the flat rate misleads
Most loan calculators only show the 'flat rate' that looks low — because interest is calculated on the full original loan for the whole tenure. That is a marketing figure, not the true cost.
The Effective Interest Rate (EIR), on the other hand, follows the reducing balance — the true cost you pay. For long tenures, the EIR can be almost DOUBLE the flat rate. KiraLoan displays both so you can see the real one.
The Hire-Purchase (Amendment) Act 2026 was gazetted on 30 January 2026 and comes into force on 1 June 2026. For NEW car hire-purchase agreements, it abolishes the flat rate and the Rule of 78 — replaced by the reducing balance method (EIR). Existing agreements keep their original terms; instalments do not change.
Read the full guide to the Hire-Purchase Act 2026 →Instalments for popular models
Estimates at a 10% deposit, 3.5% flat rate, 7-year tenure. OTR prices are estimates — confirm with the dealer/bank.
| Model | Price from | Instalment/month |
|---|---|---|
| Perodua Axia | RM 40,000 | RM 533.57 |
| Perodua Myvi | RM 50,000 | RM 666.96 |
| Proton Saga | RM 35,000 | RM 466.88 |
| Honda City | RM 86,000 | RM 1,147.18 |
| Toyota Vios | RM 90,000 | RM 1,200.54 |
Three reasons we're different
BM first
Almost every other calculator is in English. We write for you, in clear Bahasa Melayu.
Honest — real EIR
We show both the flat rate AND the effective rate (EIR), so you see the true cost, not a marketing figure.
Updated for the 2026 Act
Reviewed against the Hire-Purchase (Amendment) Act 2026 — the Rule of 78 is abolished and interest follows the reducing balance.
This site calculates instalments using the flat-rate formula and also computes the real effective interest rate (EIR) based on the reducing balance. All rates are indicative only — confirm the actual rate, margin and eligibility with your bank.
Sources: the 2026 Act (KPDN/BNM) · indicative bank rates · JPJ road tax schedule · SRO 2023 legal fees · PNB/ASNB dividends.
Rates updated: 2026-04-01
Common questions about KiraLoan
What is KiraLoan?
KiraLoan is a financial calculator hub for the Malaysian market — car loans, home loans, personal loans, and ASB financing. We put Bahasa Melayu, honesty (showing the real EIR, not just the flat rate), and up-to-date information with current law first.
Is this calculator free?
Yes. All KiraLoan calculators are free to use without registration. They run directly in your browser — no financial data is sent to any server.
Why Bahasa Melayu first?
Almost every other financial calculator in Malaysia is in English. We write in clear BM so that more Malaysians understand the true cost before making financial decisions.
How accurate are these calculations?
The formulas are verified (flat rate, reducing balance EIR, amortisation, LHDN stamp duty, SRO 2023 legal fees). However, all bank rates are INDICATIVE and ASB dividends are not guaranteed — confirm the actual figures with the bank. The calculator is an estimation tool, not a financing offer.
What is the EIR and why does it matter?
The EIR (Effective Interest Rate) is the true cost of a loan on the reducing balance. The advertised flat rate looks low but understates the true cost — the EIR can be almost double for long tenures. Always compare the EIR, not just the flat rate.
Does the Hire-Purchase Act 2026 apply to all loans?
No. The Hire-Purchase (Amendment) Act 2026 governs VEHICLE HIRE-PURCHASE financing only. It does not apply to home loans, personal loans, or ASB financing — which are subject to separate terms and guidelines.
Start calculating now — free
Pick your calculator. Each one shows the real EIR, not just the flat rate.