Updated September 28, 2026 · SumCue Editorial Team
Borrowell vs CIMB Bank
Borrowell
Higher score in this comparison
CIMB Bank
Borrowell vs CIMB Bank: the differences
| Compare | BorrowellReviewVisitVisit | CIMB BankReviewVisitVisit |
|---|---|---|
| APR | 0%Lower | 15% |
| Loan amount | CA$500 to CA$50,000 | MYR 2,000 to MYR 100,000 |
| Term | 48 months | 24 to 84 monthsHigher |
| Funding time | Usually within a matter of days of approval by loan partners | Instant disbursement; approved and disbursed in 10 minutes |
| Lender type | Marketplace | Direct lender |
| Eligibility | Canadian citizen or permanent resident, age of majority in province of residence; loan applicants 18+ | Malaysian citizen, aged 21 to 58 (max 60 at loan maturity), minimum monthly gross income RM2,000, employed over 6 consecutive months |
| Loan types | Personal, Debt consolidation, Business, CarCovers more | Personal |
| Arrangement fee | Not confirmed | RM0 (no processing fee) |
| Credit check | Soft prequal | Not confirmed |
| Representative example | Not confirmed | Cash Plus Personal Loan: fixed 4.38% p.a. equivalent to effective interest rate 8.08% p.a. on 5-year tenure |
| Rate type | Not confirmed | Variable |
| Origination fee (%) | Not confirmed | 0.5% |
| Credit needed | Poor | Not confirmed |
| Use cases | Home improvement | Not confirmed |
Same on both: Free early repayment (Yes).
We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.
Key differences
- Borrowell scores higher overall: 8.9 vs 8.8.
- APR is lower at Borrowell: 0% vs 15%.
- Term is higher at CIMB Bank: 24 to 84 months vs 48 months.
- Support channels: only Borrowell offers Email.
- Loan types: only Borrowell offers Debt consolidation, Business, Car.
Our verdict on each
Borrowell
Borrowell suits Canadians who want a single place to compare personal loan offers, check a credit score without a fee and rebuild a thin credit file. Loan sizes run CAD 500 to CAD 50,000 through a marketplace, and the credit builder term is 48 at an APR of 0%.
CIMB Bank
CIMB Bank suits Malaysian savers and borrowers who want plain costs and fast access to money. Its easy-access Basic Savings Account pays 0.25% on variable terms with no annual fee, and its Cash Plus personal loan carries an arrangement fee of RM0 (no processing fee).
Score breakdown
| Area | Borrowell | CIMB Bank |
|---|---|---|
| Cost | 9.5HigherAn annual fee of CAD 0 on the score service and a credit builder APR of 0% mean the cost side is light. | 9.2 |
| Offer | 9.1HigherA marketplace matching personal, debt consolidation and business and a stated credit profile target of poor widen the choice. | 8.2 |
| Trust | 8.4 | Not confirmed |
Feature by feature
| Loan types | Borrowell | CIMB Bank |
|---|---|---|
| Personal | Yes | Yes |
| Debt consolidation | Yes | No |
| Car | Yes | No |
| Business | Yes | No |
Pick Borrowell if, pick CIMB Bank if
Pick Borrowell if cost, offer, apr, and loan types matter most.
Pick CIMB Bank if term matter most.
Positions in our rankings
| Ranking | Borrowell | CIMB Bank |
|---|---|---|
| Loans | 122 of 2043 | 127 of 2043 |
| Personal loans | 103 of 1317 | 106 of 1317 |
| Mortgages | 12 of 853 | 14 of 853 |
| Credit and debit cards | 42 of 1594 | 46 of 1594 |
If neither fits
FINANZCHECK.de has apr at -0.4% to 19.9%, against 0% for Borrowell and 15% for CIMB Bank.
FINANZCHECK.de reviewSources behind this comparison
Borrowell
- borrowell.com: 16 facts, checked September 26, 2026
CIMB Bank
- cimb.com.my: 16 facts, checked September 26, 2026
- ringgitplus.com: 1 fact, checked September 26, 2026
Every fact side by side
| Fact | Borrowell | CIMB Bank |
|---|---|---|
| Pricing model | No annual fee | No annual fee |
| Features | Not confirmed | Rewards |
| Legal entity | Borrowell Inc. | CIMB Bank Berhad |
| Headquarters | Canada | Malaysia |
| Founded | 2014 | Not confirmed |
| Support channels | Email, Help centreCovers more | Help centre |
Credit cards
| Fact | Borrowell | CIMB Bank |
|---|---|---|
| Annual fee | CA$0 | MYR 0 |
| Rewards type | Not confirmed | Cashback |
| Rewards rate | Not confirmed | Unlimited Cash Rebate |
| Perks | Free weekly Equifax credit score and report monitoring, Free credit report download, Credit score checks that do not hurt your score, Free credit improvement tips and education, Personalized product recommendations from 75+ partners, Bank level 256 bit encryption security | Not confirmed |
| Card kind | Not confirmed | Credit |
Mortgages
| Fact | Borrowell | CIMB Bank |
|---|---|---|
| Initial rate | Not confirmed | 4.8% to 5.2% |
| Maximum loan to value | Not confirmed | 100% |
| Product fee | Not confirmed | MYR 0 |
| Purpose | Purchase, Remortgage, First time buyerCovers more | Purchase, First time buyer |
Savings
| Fact | Borrowell | CIMB Bank |
|---|---|---|
| Headline rate | Not confirmed | 0.25% |
| Minimum deposit | Not confirmed | MYR 20 |
| Access terms | Not confirmed | Withdraw funds at any time from an ATM, online, or at a branch |
| Monthly fee | Not confirmed | MYR 0 |
| Account kind | Not confirmed | Easy access |
Where each stands against the rest
| Fact | Borrowell | CIMB Bank | Median |
|---|---|---|---|
| APR | 0%lowest quarter | 15%above the median | 9.99% |
| Term | 48 monthsbelow the median | 24 to 84 monthsabove the median | 60 months |
| Origination fee (%) | Not confirmed | 0.5%above the median | 0% |
Median across 1096 listed providers.
Pros and cons
Borrowell
Pros
- Free weekly Equifax score and report monitoring, a free credit report download and score checks that do not hurt a file, all in Free weekly Equifax credit score and report monitoring, Free credit report download and Credit score checks that do not hurt your score.
- A spread of personal, debt consolidation, business and car loans (personal, debt consolidation and business) with amounts of CAD 500 to CAD 50,000.
- Free early repayment on credit builder loans, so a thin credit file can be cleared sooner without paying an extra charge.
Cons
- Support runs on email and help centre only, so there is no phone line to chase a partner lender.
- Borrowell is a marketplace (marketplace), so the rate and the approval belong to the partner lender.
- Funding lands Usually within a matter of days of approval by loan partners, so it is not a same day fix for an urgent bill or an emergency repair.
CIMB Bank
Pros
- The debit card carries an annual fee of MYR 0, so there is no yearly charge to hold it
- Personal loans charge an arrangement fee of RM0 (no processing fee), plus 0.5% on the loan amount
- Funding time is listed as Instant disbursement; approved and disbursed in 10 minutes, so an approved loan does not sit waiting on a payout
Cons
- Support runs on help centre only, so most questions are handled through the help centre itself
- The savings rate is variable at 0.25%, so the return can rise or fall with the base rate
- Loan eligibility is limited to Malaysian citizens who are adults, with a minimum monthly gross income and a waiting period of employment
Who each suits
Borrowell
Who it suits
- Canadians with a thin credit file, since the stated credit profile target is poor.
- People borrowing for home improvement work or to consolidate debt, at amounts of CAD 500 to CAD 50,000.
- Applicants who are a Canadian citizen or permanent resident and meet the age of majority in their province.
Who should look elsewhere
- Not Cashspace: its rates of PHP 12 to PHP 36 are set in Philippine pesos for another market, so it does not serve a Canadian borrower.
- Not Creduma ES for anyone who wants to borrow in euros, since its amounts start at from €12,000.
- Not Sofkredit, whose rates of 10.74% to 18.06% belong to a Spanish market and currency.
CIMB Bank
Who it suits
- Malaysian adults who want an easy-access savings balance held with no monthly fee
- Borrowers who want a personal loan with an arrangement fee of RM0 (no processing fee) and quick disbursement
- First-time home buyers using the CIMB My First Home purchase route with up to 100% loan to value
Who should look elsewhere
- Anyone outside Malaysia, since the personal loan eligibility rests on Malaysian citizenship
- Savers who want a locked rate, because the rate type on the savings account is variable
- Borrowers who cannot meet the minimum monthly gross income requirement for approval
Current offers
Borrowell
Current offer
Bonus
Credit Builder cash back rewards on select Marketplace products
Credit Builder account in good standing with first payment made; eligible third-party product successfully acquired; valid email on file; minimum redeemable balance $20; rewards paid in CAD
Source, checked September 26, 2026
Country by country
| Country | Borrowell | CIMB Bank |
|---|---|---|
| Canada | Yes | No |
Questions about each
Borrowell
Is there an annual fee for the Borrowell credit score service?+
The credit score service carries an annual fee of CAD 0, and the model is no annual fee. Weekly Equifax score and report monitoring, a report download and credit improvement tips all sit in Free weekly Equifax credit score and report monitoring, Free credit report download and Credit score checks that do not hurt your score.
Who actually lends the money?+
Borrowell works as a marketplace (marketplace) run by Borrowell Inc. in Canada. Approval and funding sit with the loan partners, and money usually arrives Usually within a matter of days of approval by loan partners rather than the same day an application goes in.
CIMB Bank
What rate does the Basic Savings Account pay?+
It pays a headline rate of 0.25% at a variable rate type, so the return follows the base rate. The account opens with a minimum deposit of MYR 20, and the monthly fee is MYR 0.
How much does it cost to hold a CIMB Bank account?+
The monthly fee on the savings account is MYR 0, and the annual fee on the cards is MYR 0. Money in the savings account is easy-access, so you can take it out whenever you need it, at an ATM, online or at a branch counter.