Malaysian car loan flat rates in 2026 range from 1.5% for national cars (Proton, Perodua) to 3.5% for luxury vehicles. The bank you choose and the car model both affect your rate significantly. This guide compares every major lender.
Car Loan Flat Rates by Bank (2026)
| Bank | New Car (National) | New Car (Non-National) | Used Car |
|---|---|---|---|
| Maybank | 1.70% | 2.60% | 3.00% |
| CIMB Bank | 1.75% | 2.65% | 3.10% |
| Public Bank | 1.65% | 2.55% | 2.90% |
| RHB Bank | 1.80% | 2.70% | 3.20% |
| Bank Rakyat | 1.60% | 2.50% | 2.80% |
| AmBank | 1.75% | 2.65% | 3.10% |
| Hong Leong Bank | 1.70% | 2.60% | 3.00% |
Factors That Affect Your Car Loan Rate
Lenders assess several factors: your credit score (CTOS/CCRIS), income stability, existing debt commitments, the car's age, and loan-to-value ratio. A strong CCRIS record with no late payments can help you negotiate a lower rate.
National Car vs Non-National Car Rates
Proton and Perodua (national cars) benefit from manufacturer-subsidised financing through Proton Commerce and Perodua Auto Finance, often at 1.5%โ1.8% flat. Non-national brands like Honda, Toyota, and Mazda have standard bank rates.
Calculate Your Monthly Payment
Use our ๐ Hire Purchase Calculator to compare monthly payments across different banks, flat rates, and tenures up to 9 years.
How to Get the Lowest Car Loan Rate
1. Apply to multiple banks and compare. 2. Use a car loan broker โ they have volume relationships with banks. 3. Negotiate with the dealer โ they control which bank to submit your application to. 4. Make a larger down payment (20% vs 10%) to appear lower risk.
Our editorial team specialises in Malaysian personal finance โ covering loans, taxation, insurance, EPF, and Islamic finance. Every article is fact-checked against Bank Negara Malaysia (BNM), LHDN, and major Malaysian bank publications. We reference our calculators (which use industry-standard formulas) to ensure consistency between our written content and tools. Learn more about our methodology โ