Bank & koperasi loan made easy

Get the best personal loan that suit your needs
Rates from as low as 3.99% p.a. or as fast as 2 working days

Take out a loan that is designed specifically for civil servants & government staff

Apply for a loan whatever you need it for - business, housing, education, medical

Get your rate instantly without documents. Problem with CCRIS/CTOS can apply

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Know your rate instantly. Get your funds in as fast as 2 working days**

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Financing available on our platform

Eligibility

Special cash rebate from Direct Lending

For RCE Yayasan personal financing with rate 7.99% & above only

RM1,500 (new!)

RM500 RM1,000

RM500 RM700

RM250 RM500

RM250 RM300

RM100 RM150

≥ RM40,000

RM30,000 – RM39,900

RM20,000 – RM29,900

RM15,000 – RM19,900

RM10,000 – RM14,900

RM5,000 – RM9,900

Rebat Tunai Eksklusif daripada Direct Lending

Untuk Pinjaman Peribadi RCE Yayasan yang berkadar 7.99% dan ke-atas sahaja

RM1,500 (BARU!)

RM500 RM1,000

RM500 RM700

RM500 RM500

RM500 RM300

RM500 RM15

≥ RM40,000

RM30,000 – RM39,900

RM20,000 – RM29,900

RM15,000 – RM19,900

RM10,000 – RM14,900

RM5,000 – RM9,900

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FAQ about Koperasi Loan

What is a koperasi loan?

A koperasi loan or cooperative loan is a type of personal loan offered to civil servants working in a federal or state government, municipal councils, statutory bodies as well as employees of selected government-linked entities. The repayment of koperasi loan is done through a salary deduction repayment scheme via Biro ANGKASA. Most of the koperasi loans are Syariah compliance.

Here is a list of koperasi loans on our platform:

  • Public Bank-MCCM Resources
  • Ambank-MCCM Resources
  • Co-op Bank Pertama
  • Koperasi Ukhwah
  • Yayasan Ihsan Rakyat
  • Yayasan Dewan Perniagaan Melayu Perlis
  • Koperasi Putri Terbilang (KOPUTRI)
  • Koperasi Bersatu Tenaga Malaysia Berhad (KOBETA)

What are the differences between koperasi loan & commercial bank loan?

  1. Repayment: Koperasi loan repayment is directly deducted from borrower’s salary and processed either through Angkatan Koperasi Kebangsaan Malaysia Berhad (Biro ANGKASA) or Accountant General’s (AG). Commercial bank loan is usually processed through auto debit or manual cash bank-in, although some banks also offer personal loan through salary deduction.
  1. Tenure: The tenure for koperasi loan is typically up to 10 years whereas most commercial bank loan tenure is generally within 5-7 years.
  1. Credit criteria: The credit approval criteria for koperasi loan is less stringent since repayment is made via direct salary deductions. Koperasi loan can even be approved for borrowers with a negative CTOS record, high commitment or those marked with ‘Special Attention Account’ whereas most commercial bank loan approval criteria is much stricter. Borrowers with an unfavourable CCRIS or CTOS history (loans unpaid more than 3 months), high commitment, or listed under Special Attention Account (SAA), the chances of getting the loan approved is much lower; or if approved it would be at a much lower approved amount or higher interest rate.
  1. Interest rate & payout: Koperasi loan’s interest rate is typically lower as the repayment is done through salary deduction. Usually koperasi loan does not disburse 100% of the loan amount to borrowers. Most of the payout can range between 80%-95%. This is after the deduction of takaful, stamp duty, initial monthly repayment and also shares or koperasi membership fees.
  1. Type of applicant: Koperasi loan is restricted to civil servants. Commercial bank loan is open to private sector employees, self-employed as well as public sector employees.

3 reasons to use koperasi loan

  • Alternative for unsuccessful applications from a commercial bank loan

Koperasi loan is more lenient in its approval process. Borrowers with no credit history or negative CCRIS or CTOS record (e.g. SAA or more than 3 months overdue loan payments) and high financial commitment would stand a chance to get the loan approved. However, koperasi loan can only be extended where the salary deduction in the payslip is not more than 60% of the borrower’s gross income.

  • To remove negative CCRIS/CTOS records by settling overdue loans

A poor repayment history of your loan or any loan guaranteed by you will result in negative credit record. If this happens, it is highly unlikely that a bank will approve your home loan, car loan or credit card application. Apply koperasi loan to settle any overdue debts to help get rid of your negative CCRIS/CTOS records.

  • Consolidate credit card debts with low interest koperasi loan

Even with a good credit history, a koperasi loan might benefit you in terms of reducing your debt burden. If you have any outstanding credit card debts with an interest of 15%–18% per annum or a personal loan with a high interest rate, you can consider using a lower interest rate koperasi loan to consolidate and pay off these expensive debts.

Experience now a better way to borrow

*Terms and conditions apply. Cash rebate is payable by Direct Lending only upon approval and disbursement of the financing. The financing profit rates range from minimum 3.99% p.a. to maximum 9.99% p.a. Tenor of the financing offered is between minimum 1 year and maximum 10 year. As a representative illustration, for a RM10,000 amount borrowed for 10-year at an annual profit rate of 3.99% p.a., the total amount payable at the end of the tenor is RM13,990.

** 2 working days turnaround time is measured from the point when RCE receives all the relevant documents from you to the point where funds are deposited into your bank account. 2 working days turnaround time is only possible, but NOT guaranteed, if all the following conditions are met:

  • All documentation provided by you are satisfactory and complete with no additional documents or follow-ups required following the initial submission;
  • RCE must be able to contact you and your employer for the necessary verification within 24 hours from receiving your complete documentation and the verification must be successful; and
  • The bank account that you have requested to deposit the loan proceeds must be maintained with Maybank.

In all other circumstances, the turnaround time will take longer than 2 working days.