About KiraLoan

KiraLoan is a financial calculator hub for the Malaysian market. Our mission: financial information that is honest, accurate, and in Bahasa Melayu — so Malaysians understand the true cost before making a decision.

Methodology

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.

• Flat-rate instalments are calculated with the standard hire-purchase formula: interest = amount financed × flat rate × years; instalment = (amount financed + interest) ÷ months.
• EIR (effective rate) is calculated precisely using the reducing balance (annuity) method, not just a rough rule of thumb.
• Road tax follows the official cc schedule for private cars (Peninsular), with adjustments for Sabah/Sarawak and Langkawi.

Data sources

• Hire-Purchase (Amendment) Act 2026 — government announcement (KPDN) & Bank Negara Malaysia (BNM) guidelines.
• Bank rates — collected from official bank websites & comparison platforms; indicative and updated periodically. Updated: 2026-04-01.
• Road tax schedule — JPJ circular.

How our content is produced

Transparent about how it is produced: calculators run verified financial formulas (flat-rate hire-purchase, reducing balance/annuity, EIR) — not AI. Articles & guides are produced with the help of editorial tooling and human-reviewed for accuracy. Author photos are AI-generated illustrations representing roles within the editorial team (not photos of real individuals); the personas depict the team's areas of expertise. Facts & figures are checked against official sources — see the Official references section on every calculator page.

Disclaimer

Disclaimer: All calculations on this site are estimates only, not financing offers. The interest rate, margin, eligibility and actual costs depend on the bank's assessment, your credit profile, and the type of vehicle. Confirm with the bank or financial institution before deciding.

Questions, corrections, or suggestions? Contact us →