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We aim to best address your financing needs, only working with reputable banks and koperasi


Helping you from A-Z with our dedicated loan consultants. Know your rate instantly & receive your funds as fast as 2 working days*


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Loan Eligibility

  • A Malaysian citizen aged between 20 and 58 years old
  • Civil servants under Federal, State and selected Government Agencies or employees of selected GLCs
  • Have a permanent job with at least 3 months of service in the government sector
  • Minimum gross monthly income (including fixed allowances) of RM1,500
  • High loan commitment, CCRIS/CTOS can apply (for selected koperasi loan)
  • Financing tenor from minimum 1 year to maximum 10 years

How to apply for Bank & Koperasi Loan?

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Frequently Asked Questions

What is a koperasi personal loan?

A koperasi personal loan or cooperative personal loan is a type of unsecured 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. Cooperatives that offer koperasi loans are registered under the Co-operatives Societies Act 1993. The repayment of koperasi personal loan is done through a salary deduction repayment scheme via Biro ANGKASA. Most of the koperasi personal loans are Shariah compliance.

What are the differences between koperasi personal loan & commercial bank personal loan?
  • 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.
  • Credit criteria: The credit approval criteria for koperasi loan are less stringent and it can be approved for borrowers with a negative CCRIS/CTOS record, high commitment or those marked with ‘Special Attention Account’ whereas most commercial bank loan approval criteria are 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) is unlikely to get approved for a bank loan.
  • Interest rate: Koperasi loan’s interest rate tends to be lower than those of commercial bank loan where repayment is done through manual cash bank-in or auto debit. The low interest rate is because repayment of koperasi loan is done through salary deduction. On the other hand, the interest rate will be the lowest for bank personal loan that is done through salary deduction.
  • Payout: 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, koperasi shares and membership fees. On the other hand, bank loan payout is higher as it usually doesn’t deduct for koperasi shares and membership fees.
  • 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. However, for koperasi loan where repayment is through ANGKASA deduction, it is restricted to civil servants and GLC workers.
How should I select between which bank and koperasi personal loan?

For civil servants who opt for your personal loan to be deducted through salary, you have options to apply for bank or koperasi personal loan. Here are some factors to consider:

Suitable to apply for bank personal loan if:
  • Looking for a low interest rate with high payout
  • Borrowers with a good loan repayment history and no negative credit record
  • Borrowers with a low debt commitment
Suitable to apply koperasi personal loan if:
  • Borrowers with a negative credit record, AKPK or special attention account
  • Borrowers with relatively high commitment outside payslip
Is bank and koperasi personal loan on Direct Lending platform Syariah compliant?

Yes, all of the bank and koperasi personal loan for civil servants on Direct Lending platform are Syariah compliant.

What are the reasons to apply for a personal loan?

A personal loan is a fast and easy solution to fund your financing needs.

You can use a bank and koperasi loan to consolidate or overlap your old or expensive debt, which helps to reduce your monthly commitment. You can also use the personal loan to start or expand your business, home renovation, buy car or motorbike, paying for education, wedding and for emergency purposes.

How much can I borrow?

The amount of financing that you are eligible to borrow would depend on a few factors such as your income, current debt commitment and credit history. Depending on the financial institution, the maximum loan amount is up to RM250,000.

However, do note that for bank and koperasi loan where the loan repayment is through salary deduction, the maximum deduction allowed in your payslip is 60% and hence your maximum loan eligibility may be capped by this.

Planning to apply for a loan? Use this personal loan calculator to estimate your monthly instalment.

What is the requirement to apply for a bank and koperasi personal loan?

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

Check your loan eligibility here for free HERE.

What documents do I need to prepare to apply for a bank or koperasi personal loan?

The basic documents required are:

  • A copy of your NRIC (front and back)
  • Certified payslips of the most recent 3 months
  • Confirmation letter of employment
  • A copy of bank statement that crediting your monthly salary
Is this personal loan offering fixed or floating interest rate?

Most of the bank and koperasi personal loan on Direct Lending platform offers a fixed interest rate, where the monthly repayment is fixed throughout the tenure of the financing irrespective of any changes in the Bank Negara’s base rate.

Do I need to provide any collateral or guarantor to apply a personal loan?

A personal loan is a type of unsecured loan. This means that you do not need to provide any collateral or have any guarantor in order to borrow money.

Can I overlap my existing personal loan?

Yes, you can and this may help you to reduce your monthly commitment or allow you to get cash in hand without increasing your monthly commitment. If you overlap with the same bank or koperasi, you don’t need to apply for the settlement letter.

You also can use the Debt Consolidation Calculator to estimate your savings with a consolidation loan.

How long is the loan process?

You could receive your loan approval from as fast as 2 working days to about 2 weeks. This depends on the bank or koperasi you selected. Yayasan Ihsan Rakyat and Yayasan Dewan Perniagaan Melayu Perlis offers financing as fast as 2 working days while Public Bank and Coopbank Pertama can provides financing around 1 week.

Can I early settle my bank and koperasi personal loan?

Yes, you can make early repayment. Many banks and koperasi provides a rebate for early repayment.

Who is Direct Lending? Why should I apply my loan through Direct Lending?

Direct Lending is an online personal lending platform to help borrowers to search, compare and apply financing that is most suitable to you. We are an authorised agent for nearly 10 reputable bank and koperasi in Malaysia.

Our service is 100% FREE and will not require any payment from our customers at any time. Direct Lending has received 1,000 reviews rated 5-stars by our customers in our Google Business Page and Facebook.

How do I apply for a bank and personal loan online?

Applying a personal loan has never been this easy and convenient. Check your eligibility through our platform and we will select the best personal loan that best suit your financing needs. Our dedicated experienced consultant will then be in contact and assist you with your personal loan application from A-Z.

Apply and check your eligibility for 100% free. No hidden charges or processing fees. To apply, click HERE.

*Terms and conditions apply. The financing profit rates range from minimum 2.95% 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 2.95% p.a., the total amount payable at the end of the tenor is RM12,950.

** 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.