Frequently Asked Questions
Everything you need to know about Direct Lending.
About Direct Lending
Direct Lending is an online personal loan platform that aims to provide a better borrowing experience to consumers in Malaysia – fast, simple, safe and affordable.
We are an authorised marketing representative for the civil servant Syariah compliant personal financing (Koperasi Loan) facilities originated by RCE Marketing Sdn Bhd (a subsidiary of the Bursa Malaysia listed company, RCE Capital Berhad) through Yayasan Ihsan Rakyat and Yayasan Dewan Perniagaan Melayu Perlis Berhad. In addition, we also offer civil servant personal financing from Co-opbank Pertama, Public Islamic Bank, Koperasi KOBETA, Koperasi KOPUTRI, Koperasi Ukhwah and other selected co-operatives in Malaysia.
We also collaborated with more than 15 licensed moneylenders and credit communities registered under Kementerian Perumahan dan Kerajaan Tempatan (KPKT) in offering safe personal loan to private sector workers.
Direct Lending recently launched our Syariah compliant auto service financing which enable car owners to obtain financing to pay for their essential car repairs at workshop.
Direct Lending is a recipient of Cradle CIP300 funding in 2019 and graduated from Malaysian Global Innovation & Creativity Centre’s (MaGIC) Global Accelerator Programme in 2017
Stay tuned as we work to introduce other great products and services.
All marketing emails from Direct Lending spam compliant, and therefore each marketing email contains a unique unsubscribe link. Simply click the unsubscribe link in the email to opt-out of marketing emails.
You can:
- Email us at support@directlending.com.my;
- call us at +603 9212 4200 between 9.00am-6.30pm from Monday to Friday
- chat with us through Direct Lending website
- visit us at our office at Unit 22-3A, Oval Tower Damansara, 685 Jalan Damansara, 60000 Kuala Lumpur
We’d love to hear from you!
Loan for Private Sector
How do I apply for a loan?
A fast and easy sign up process in 3 simple steps:
Step 1: Fill up our online application form and select the lender you would like to submit application
Just fill up our simple online form with your relevant personal details and tell us how much and for how long you would like to borrow. Then select the lender that is suitable to you.
Step 2: Contact by the lender for credit check and verification
Your selected lender will contact you through email or call for more verification if you meet the loan eligibility.
Step 3: Submit required documents and sign agreements Once the verification process is done, you can submit the required documents ie., NRIC, latest 3 months payslips and bank statements, latest EPF or tax declaration form and utility bill (like electricity, water bill & etc) before proceed to lender office to sign agreements.
What can I use the loan for?
You can use your loan proceeds for almost anything. Here are some of the most popular one:
- Pay off credit cards bills
- Consolidate a more expensive loan
- House renovation
- Wedding expenses
- Start or expand a business
- Medical or hospital expenses
- Taking courses or further studies
- Car financing
- Major purchases
- Vacation
How much can I borrow and for how long?
The final amount and tenor will depend on the lender you have selected. In general, you may apply up to RM20,000 with flexible loan terms of between 6 months and 3 years.
Is there a minimum loan amount?
Yes, the minimum loan amount is RM1,000.
Do your lenders hold my ATM card?
No, all of our lenders that we work with do not and will not hold your ATM card.
Am I eligible to borrow?
You are eligible to borrow if you are currently:
- A Malaysian citizen aged between 20 and 60 years old
- Employed with minimum 3 months of service
- Minimum gross monthly income of RM1,500 in Semenanjung Malaysia and RM1,200 in Sabah & Sarawak
- Not in bankruptcy
- For selected lenders, do not have any special attention account in your Bank Negara’s Central Credit Reference Information System (CCRIS)
- Most importantly, you have the affordability to pay the monthly installment
What documents do I need to provide?
- A copy of your NRIC (front and back)
- Latest 3 months payslips
- Latest 3 months bank statement that crediting your monthly salary
- Latest EPF or Tax Declaration Form (BE Form)
- Utility bill – Electricity, water, etc
How long does it take for my loan to be deposited into my bank account?
We aim to get you a fast loan approval within 1 working day. This also depends on full documentation and information that you provided to us.
Can I use my household or spouse income?
No. Since this is a personal loan, only your personal income is taken into consideration. However, you can use guarantor to improve the chance of getting your loan approved.
Does Direct Lending collect any upfront fees from borrowers?
No, we do not and will not collect any upfront or processing fees from borrowers.
What will be the interest rate?
Rates ranging from 12% p.a. (with collateral) to 18% p.a. (without collateral).
Is there any stamp duty fees?
Yes, you need to pay 0.5% stamp duty of the borrowed amount.
Is there any advance instalment required?
No, there will be no advance instalment required.
What happens if I am late on my payment?
If you are late in your monthly payment, you will be charged a late payment fee as stipulated in your agreement.
How does the loan repayment process work?
You can repay your loan on a monthly basis via Interbank GIRO (IBG), cash deposit, cheque deposit, or MEPS ATM fund transfer.
Can I early settle my loan?
Yes, you can. There is no early settlement charges/penalties if you wish to early settle your loan.
How do I know my personal information is safe with Direct Lending?
Your personal information is stored securely in accordance with our Terms of Use and Privacy Notice. All customer information collected by Direct Lending is passed through a secure server using encryption technology, and protected from unauthorised access by a number of security procedures. Direct Lending will never disclose your information to a third party without your permission.
Loan for Civil Servants
How do I apply for a loan?
Our loan application process is quick and easy. It will only take a few minutes for you to know your loan eligibility and indicative rate immediately. We’ll ask you to provide some personal details, including your employment, monthly income, current loan commitment and education.
You will only be required to provide your identity and income documents if you like your rate and want to proceed with a formal loan application.
Please make sure the information you provide is accurate as the information will be verified.
What can I use the loan proceeds for?
You can use your loan proceeds for almost anything, as long as it is legal. The following are some examples:
- Debt consolidations
- Pay off credit cards bills
- Start or expand a business
- Medical or hospital expenses
- Taking courses or further studies
- Major purchases
- Car financing
- Home improvement
- Vacation
- Wedding
How much can I borrow and for how long?
Depending on the financing provider, you can borrow up to RM250,000 with flexible loan terms of between 1 and 10 years. Your maximum loan amount is determined by your personal background, credit profile, current financial situation and commitment.
Is there a minimum loan amount?
Yes, the minimum loan amount is RM3,000, while for Public Islamic Bank, the minimum loan amount is RM5,000.
How do I change my submitted application?
You will not be able to edit your application once it is submitted. Please be sure to verify your information prior to submitting. If you make a mistake on your application and wish to change your loan amount, tenure or personal information, please email support@directlending.com.my, call +603 9212 4200 or just chat with us.
How do I cancel my loan application?
If you would like to cancel your loan application, please email support@directlending.com.my, call +603 9212 4200 or just chat with us.
Is the personal financing based on Shariah concept?
Yes, personal financing facilities offered on our platform are based on Shariah concept.
Am I eligible to borrow?
You are eligible to borrow if you are currently a civil servant in Malaysia and:
- A Malaysian citizen aged between 20 and 58 years old
- Have a permanent job with at least 6 months of service in the civil sector
- Minimum gross monthly income of RM1,500
- Not in bankruptcy and can afford the loan repayment
What identity and income documents do I need to provide for my loan application?
You must provide us the following documents to complete the formal loan application process.
- A copy of your NRIC (front and back)
- Certified payslips of the most recent 3 months (recent month payslip in original format for carbon version payslip only)
- Confirmation letter of employment
- A copy of utility bill (only for Koperasi KOBETA, KOPUTRI and Ukhwah loan application)
- A copy of bank statement that crediting your monthly salary
How long does it take for my loan to be deposited into my bank account?
You could receive your loan from as fast as 2 working days to about 2 weeks. This depends on the loan package that you have selected.
For Yayasan Ihsan Rakyat and Yayasan Dewan Perniagaan Melayu Perlis, once we received complete and satisfactory documentation from you with no additional documents or follow-up required, and Yayasan is able to contact you and your employer for the necessary verification within 24 hours from receiving the complete documentation and the verification is successful, the loan proceeds can be deposited into your bank account as fast as 2 working days if your bank account is maintained with Maybank. In all other circumstances, it will take longer than 2 working days.
For Public Islamic Bank, Koperasi KOBETA and Koperasi KOPUTRI, it takes about 1-2 weeks to process and deposited the loan into your bank account. For Koperasi Ukhwah, it takes about 2- weeks.
For Coopbank Pertama, you can receive pre-approval within 1-3 working days with signing offer letter & funding in thereafter.
Please note the turnaround time indicated here is only on best effort basis and is not guaranteed in any circumstances.
I receive a few types of allowances from my employee. What can be counted as income?
The following allowances are counted as income:
- Public service fixed remuneration
- Housing remuneration
- Cost of living assistance
- Entertainment allowance
- Incentives for financial duty
- Educational responsibility allowance
- Incentives for teaching the disabled
The following allowance will NOT count as income:
- Overtime
- Arrears payment
- Uniform allowance
- Warden allowance
If you have any other allowances than those mentioned above, please contact us at support@directlending.com.my, call us at +603 9212 4200 or just chat with us.
Can I use my household or spouse income?
No. Since this is a personal loan, we only take your personal income into consideration.
Does Direct Lending collect any upfront fees from borrowers?
No, we do not and will not collect any upfront or processing fees from borrowers.
What will be my financing profit rate?
Your profit rate is determined by the Financing Providers based on your credit profile and financial behaviour.
Profit rate for Coopbank Pertama is 2.69% for loan tenor up to 3 years while 2.99% flat rate for loan tenor from 4 to 10 years. This rate is applicable for borrowers with salary RM3,000 and above. For borrowers with salary less than RM3,000, profit rate is 4.75% flat per annum.
Profit rate for Public Islamic Bank is 3.90% flat rate for loan RM100k and above, while 4.38% flat rate per annum for loan less than RM100,000.
For Koperasi KOBETA, the profit rate is 5.99% flat rate per annum and for Koperasi KOPUTRI, the profit rate is 5.50% flat rate per annum. For Koperasi Ukhwah, the profit rate is 4.35% flat rate per annum for loan tenor of 2-3 years and 4.99% flat rate per annum for loan tenor of 4-10 years. Lastly, for Yayasan Ihsan Rakyat & Yayasan Dewan Perniagaan Melayu Perlis, the profit rate starts from 5.99% to 9.99% flat rate per annum (the actual profit rate depends on your credit profile). The profit rate will be clearly indicated to you for your consideration before you decide whether to accept the loan or not.
What is the final financing amount that I will receive?
The final financing amount that you will receive is determined by Financing Providers based on your credit profile and financial behaviour. This will be indicated clearly to you for your consideration before you decide whether to accept the loan or not.
Broadly speaking, the final financing amount is based on a net payout ratio (as determined by Financing Providers based on your credit profile and financial behaviour), net of required advance instalment and other relevant charges, including but not limited to, stamp duty, insurance, koperasi membership fees and administration charges.
For financing from Coopbank, the payout is about 98% less 2 months advance installment as the ANGKASA deduction will only commence after 2 months.
For financing from Public Islamic Bank, payout is about 98% of the loan amount with no advance installment required. For koperasi loan from KOBETA, KOPUTRI and Ukhwah, the payout can be as high as 91.5%, 95% and 89% of the loan amount respectively. For Yayasan Ihsan Rakyat & Yayasan Dewan Perniagaan Melayu Perlis, payout is between 78% and 88% of the loan amount (depending on assessment of your credit profile).
Is there any advance instalment required?
Yes, for loan from Yayasan Ihsan Rakyat & Yayasan Dewan Perniagaan Melayu Perlis, there will be 1 month of advance instalment imposed on borrowers while for Koperasi KOBETA, KOPUTRI and Ukhwah, there will be 2-3 month of advance instalment. This will be deducted from your loan amount.
What happens if I am late on my payment?
If you are late in your monthly payment, you will be charged a late payment fee as stipulated in the financing agreement with the financing provider.
How does the loan repayment process work?
Your loan is repaid on a monthly basis via non-discretionary salary deductions processed by either the Accountant General’s Department or the Angkatan Koperasi Kebangsaan Malaysia Behad (Angkasa).
Can I make early repayment of my personal financing?
Yes, you can make early repayment. Financing Providers, at its full discretion, may consider providing you a rebate for early repayment.
How do I know my personal information is safe with Direct Lending?
Your personal information is stored securely in accordance with our Terms of Use and Privacy Notice. All customer information collected by Direct Lending is passed through a secure server using encryption technology, and protected from unauthorised access by a number of security procedures. Direct Lending will never disclose your information to a third party without your permission.
Auto Service Financing
Direct Lending’s auto service financing (Service Car Now, Pay Later) is an unsecured financing facility and is Shariah compliant. It is solely for auto service purposes as the approved amount will be disbursed to the workshop partner where you service the vehicle, providing services under Direct Lending’s designated service platform partner. The facility is calculated based on a fixed profit rate resulting in fixed instalment throughout the selected tenor. Now you can pay instalment to repair your car and extend payment up to 12 months.
The facility is based on the Shariah concept of Commodity Murabahah via Tawarruq. This a buy and sell contract between Direct Lending and you, under a specific Shariah compliant commodity will be identified and used as the underlying asset for the sale and purchase transaction between customer and Direct Lending for the purpose of disbursing the funds under the Facility.
Other than filling in basic personal details, we only require the following two documents:
- Photos of NRIC (front and back)
- Bank statement in the past 3 months (main account that receives income such as salary) – find out how to download bank statements here
It is open to Malaysian nationals aged between 18 – 65 years old. You must have a bank account. A credit card is NOT mandatory.
It takes seconds to know your prequalified results based on the credit profile and you will know final approval results and maximum amount as fast as 15 minutes (during working hours) after submitting the complete documentation.
Once receiving the pre-approval, you could use the facility within 1 month.
Understanding how much you need to pay through instalment to service your car; you can start planning and book an appointment or visit any workshop that participates in the program.
You can also apply at the workshop after finding out you may need more funding for the car repair, we will provide pre-approved results as fast as 15 minutes (during working hours).
The profit rate is 1.5% per month. There is no processing fee involved in this financing.
The range of the financing amount is from RM300 (minimum) to RM5000 (maximum). Financing period from 3 to 12 monthly payments.
No, it will be done digitally through your mobile phone after the service is completed and when you decided to use the pre-approved facility.
The facility does not require any guarantor or collateral.
The financier will disburse directly to the workshop within 3 days after the agreement being signed to pay for your car service bill.
After signing the financing agreement on Direct Lending’s platform, you will set up the eMandate to allow auto-debit from your bank account from a licensed financial institution in Malaysia. The monthly payment plan will be deducted from this account on the same day (as the agreement is signed) of in the following months throughout the financing tenure.
If you fail to make any monthly instalments or pay any other amount payable when due, you shall pay the late payment charge of 8% per annum (consists of a compensation / Ta’widh (1%) and a penalty / Gharamah (7%) that will be channeled to charitable bodies). The late payment charge will not be compounded.
You can make an early settlement before the expiry of the Instalment tenure, by giving 1-week prior written notice to Direct Lending. A rebate for early settlement on the remaining deferred profit will be granted to you.
Please fill up this simple form and we will be in contact with you within 1 working day.
The financing will be offered by Direct Lending Sdn Bhd, an online personal financing platform in Malaysia that supports hardworking adults to access to safe and affordable financing. Direct Lending is a licensed moneylender registered under Ministry of Housing and Local Government (Kementerian Perumahan dan Kerajaan Tempatan).
Direct Lending is a grant recipient from the Cradle Fund Sdn Bhd, and a graduate from the Malaysian Global Innovation & Creativity Centre’s (MaGIC) Global Accelerator Program.
Car Takaful Instalment Plan
Direct Lending’s Car Takaful Instalment Plan (Renew Now, Pay Later) is an unsecured financing facility and is Shariah compliant. It is solely for car takaful renewal purposes as the approved amount will be disbursed directly to the car takaful provider where you renewed your takaful, provided that the car takaful provider is part of Direct Lending’s designated car takaful provider platform partner. The facility is calculated based on a fixed profit rate resulting in fixed instalment throughout the selected tenor. Now you can pay instalment to renew your car takaful and extend payment up to 12 months.
The facility is based on the Shariah concept of Commodity Murabahah via Tawarruq. This a buy and sell contract between Direct Lending and you, under a specific Shariah compliant commodity will be identified and used as the underlying asset for the sale and purchase transaction between customer and Direct Lending for the purpose of disbursing the funds under the Facility.
Other than filling in basic personal details, we only require the following two documents:
- Photos of NRIC (front and back)
- Bank statement in the past 3 months (main account that receives income such as salary) – find out how to download bank statements here
It is open to Malaysian nationals aged between 18 – 65 years old. You must have a bank account. A credit card is NOT mandatory.
It takes seconds to know your prequalified results based on the credit profile and you will know final approval results and maximum amount as fast as 15 minutes (during working hours) after submitting the complete documentation.
Once receiving the pre-approval, you could use the facility within 2 week.
Understanding how much you need to pay through instalment to renew your car takaful; you can start planning and get a quotation with any car takaful provider that participates in the program.
You can also apply at the car takaful provider after finding out you may need more funding for the car takaful renewal, we will provide pre-approved results as fast as 15 minutes (during working hours).
The profit rate is 1.5% per month. There is no processing fee involved in this financing.
The range of the financing amount is from RM300 (minimum) to RM5000 (maximum). Financing period from 3 to 12 monthly payments.
No, it will be done digitally through your mobile phone after the service is completed and when you decided to use the approved facility.
The facility does not require any guarantor or collateral.
Direct Lending will disburse the financing directly to the car takaful provider within 3 days after the signing of the financing agreement. In the event the financing amount is insufficient to cover your entire car takaful quotation, you are required to pay the balance of payment to the car takaful provider directly prior getting the car takaful policy.
Prior to signing the financing agreement on Direct Lending's platform, you will set up the eMandate to allow auto-debit from your bank account from a licensed financial institution in Malaysia. The monthly payment plan will be deducted from this account on the payment due dates as stated in the financing agreement.
If you fail to make any monthly instalments or pay any other amount payable when due, you shall pay the late payment charge of 8% per annum (consists of a compensation / Ta’widh (1%) and a penalty / Gharamah (7%) that will be channeled to charitable bodies). The late payment charge will not be compounded.
You can make an early settlement before the expiry of the Instalment tenure, by giving 1-week prior written notice to Direct Lending. A rebate for early settlement on the remaining deferred profit may be granted to you.
Please fill up this simple form and we will be in contact with you within 1 working day.
The financing will be offered by Direct Lending Sdn Bhd, an online personal financing platform in Malaysia that supports hardworking adults to access to safe and affordable financing. Direct Lending is a licensed moneylender registered under Ministry of Local Government Development (KPKT).
Direct Lending is recognised as Top Rising Star of the Year in Fintech Frontiers Award 2023. Direct lending is a grant recipient from the Cradle Fund Sdn Bhd, and a graduate from the Malaysian Global Innovation & Creativity Centre’s (MaGIC) Global Accelerator Program.
A group personal accident takaful (“DirectCare+ PA Takaful”) that provides coverage for personal accidents and includes a financing protection feature for applicants who have successfully completed the checkout process of Direct Lending's Car Takaful Instalment Plan.
Click here for more details.
SME Micro Financing
A financing product that offers micro credit facility to SMEs, to boost cash flow for business expansion and working capital needs.
This SME Micro Loan / Financing (Islamic or Conventional) is provided by Direct Lending’s business partners (licensed lender or financier). Application via Direct Lending is 100% free, no upfront payment or deposit is required.
You may apply for either Islamic or conventional financing.
The interest / profit rate is 0.8% to 1.5% per month, subject to approval.
The application is 100% free and no upfront payment or deposit is required.
There will be a 10% processing fee (inclusive of stamp duty & guarantee fee), deducted upon disbursement from the loan/financing amount.
The amount of financing that you are eligible to apply would depend on a few factors such as your business income, current debt commitment and credit history. The maximum loan / financing amount is up to RM200,000 with flexible repayment tenure between 6 months to 18 months.
You are eligible to borrow with:
- A business entity registered with SSM under any of these categories;
- Sole proprietorship;
- Partnership / Limited Liability Partnership (LLP); or
- Private Limited Company (Sdn. Bhd.)
- Minimum 6 months in business operations;
- Minimum business income or revenue of RM5,000 per month;
- No pending or outstanding legal action; and
- Not bankrupt
You only can apply for Conventional SME Micro Loan / Financing if your business involves trading of the following:
- Alcohol;
- Gambling;
- Pornography;
- Tobacco and dangerous drugs;
- Entertainment-related companies – such as karaoke lounges serving alcohol, film production houses producing mainly illicit movies, cinemas that typically screen entertainment-related movies;
- Pork and its by-products;
- Food items that are prohibited under the teaching of Islam such as frogs, snakes, crocodiles;
- Shariah non-compliant massage parlours that allow treatment from the opposite gender;
- Prostitution;
- Interest-based lending, including credit sales with interest charges;
- Conventional insurance and unit trust agencies; and/or
- Production and distribution of idols, statues, and materials and places for worshipping other than Allah
To apply, click here.
Compulsory Documents
- A copy of NRIC (front & back):
- Sole proprietorship – Owner
- Partnership / Limited Liability Partnership – All partners
- Sendirian Berhad – All directors
- Latest 6 months bank statement (must be original copy in PDF, scanned/screenshot/picture not acceptable)
Optional Documents
- Business license
- Personal income tax assessment (latest 2 years)
SME Micro Loan / Financing (Islamic or Conventional) is a type of unsecured financing. This means that you do not need to provide any collateral.
You would receive an approval within 3-4 working days upon full documents submission. Receive your financing within 2 working days upon signing of agreement via online.
Note: Every reasonable effort has been made to ensure that the turnaround time is adhered to but the timeline may still be subject to change depending on various circumstances including but not limited to the completeness of information furnished by the applicant.
Islamic SME Micro Financing
Yes, you can make an early repayment.
Conventional SME Micro Loan / Financing
Yes, you can make an early repayment, but subjected to a 2% early repayment fee on the remaining principal amount.
Islamic SME Micro Financing
If you are late in making your repayments, the following fees/charges will be imposed:
- Up to 10% p.a. of Late Payment Charges [consist of 1% p.a of Compensation (Ta’widh) and 9% p.a. of Penalty (Gharamah)] on the overdue payment & shall not be compounded.
Conventional SME Micro Loan / Financing
If you are late in making your repayments, the following fees/charges will be imposed:
- Late Penalty Fee: RM200 per repayment cycle
- Late Interest Fee: 0.1% per day (non-compounded) on the amount in arrears
Direct Lending is a personal and business lending platform to help individuals or SMEs to search, compare and apply for financing that is most suitable for them. We only partner with trusted and licensed lenders or financiers.
Our service is 100% FREE and will not require any payment from our customers at any time. Direct Lending has over 2,000 reviews rated 5-stars by our customers on our Google Business Page and Facebook.
Applying for SME Micro Loan / Financing (Islamic or Conventional) has never been this easy and convenient. Click the link below or ‘Chat on WhatsApp’ icon through our platform and we will assist you to receive financing for your business needs.
Our dedicated experienced consultant or the officer from the lender will then be in contact and assist you with your application from A-Z.
Application is 100% free, no upfront payment or deposit is required. No hidden fees. To apply for a business loan / financing, click here.