Almost all Malaysians get housing loans from banking institutions. There are more than 16 banks in Malaysia, and these banks offer various packages to meet the needs of various users.
Individuals borrow personal loans from banks. This particular loan is unsecured because it is not backed by collateral. Personal loans are not secured against any assets, and they are not the same as home or car loans.
A mortgage loan is a debt instrument. A mortgage is a loan that uses land or immovable assets as collateral for the loan.