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 therafter.

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.