Getting to know MBSB Personal Loan
This personal loan is provided by MBSB (Bank Malaysia Building Society Berhad) with a salary deduction through Biro Angkasa. This loan is one of the personal loans that offers affordable interest rates and high financing payouts to civil servants through salary deductions. Approval for MBSB personal loans is also as fast as 3-4 working days, suitable for those who need immediate funds.
MBSB Bank Berhad has been granted a license by Bank Negara Malaysia to undertake Islamic Banking business. MBSB Bank is regulated and supervised by Bank Negara Malaysia under the Islamic Financial Services Act, 2013.
Special Loan Features
- Personal financing from MBSB
- Financing amount up to RM400,000
- Financing period from a minimum of 2 year to a maximum of 10 years
- Profit rate from 3.32% p.a.
- Repayment through Biro Angkasa
- No upfront payment. Application is 100% free
- No guarantor or collateral
- Islamic financing
- Fast approval 3-4 working days
Applicant Requirements
- Malaysian citizens aged between 20 and 58 years
- Government employees, statutory bodies or selected GLCs (except army)
- The position is permanent and has served for a minimum of 1 year
- Fixed monthly income of minimum RM3,000 including fixed allowance
- High outside payslip commitment or CCRIS are also eligible to apply
- "Special attention" account in CCRIS or AKPK status not eligible
- Overdue with PTPTN loans are eligible to apply
Need urgent cash loans?
If you are facing financial difficulties and need funding for expenses related to Hari Raya, your children's school fees, paying outstanding bills, emergency needs, or consolidating debts, the MBSB Personal Loan is perfect for you
MBSB's personal financing has a floating rate starts from 3.32% p.a. and a 98% payout. You do not need an employment verification from your employer,and loan approval can take as fast as 3 working days.
Direct Lending is an online personal financing platform that offers fast, easy, safe and affordable bank & cooperative personal loans. 100% free. Securely check your eligibility today.
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Frequently Asked Questions
MBSB personal loans are unsecured personal loans. This means you do not need to provide collateral or guarantor to apply for this loan. MBSB personal loans are Shariah concept.
You can apply for a MBSB personal loan for any purpose such as renovating a home, buying a vehicle, starting or expanding a business, paying medical bills or paying off your expensive debt.
You are eligible to borrow if you are a civil servant in Malaysia and:
- A Malaysian citizen aged between 20 and 58 years
- Hold a permanent position and serve for at least 1 year
- Minimum gross income of RM3,000 including fixed allowance
- Not declared bankrupt and able to repay the loan
MBSB personal loan will calculate your external commitment. Examples are car loans, credit cards, home loans and others. This loan is suitable for consolidating expensive loans with this loan rate as low as 3.32% p.a.
For borrowers who have problems with CCRIS records, MBSB personal loan will accept applications but on the condition that the financing arrears cannot exceed 2 months.
If the arrears in CCRIS exceed 2 months, and there is a SAA record, you can use this loan to settle the arrears.
For CTOS problems, trade references or CTOS records exceeding RM2,000 need to be completed with this loan
MBSB personal loans do not accept borrowers listed under the AKPK Credit Management Program.
The maximum loan amount that can be borrowed is RM400,000. The loan period is from a minimum of 2 years to a maximum of 10 years.
Your loan is repaid monthly through automatic salary deductions processed by Angkatan Koperasi Kebangsaan Malaysia Berhad (ANGKASA).
For personal financing, one of the general eligibility conditions that have been set is a salary deduction not exceeding 60% unless the cooperative provides some flexibility. In fact, there are other factors that can affect whether your loan application is approved or not, such as your credit record and debt service ratio. For example, you can try to apply for a personal loan even if your salary deduction is more than 60% but your credit record and DSR are good.
The required documents are:
- Copy of MyKad identification card (front and back)
- 3 months latest salary slip statement
- Employment confirmation letter
- A copy of the latest bank statement with your monthly salary credit
MBSB's personal loan application process is around 3-4 working days. Please note that times shown are based on best efforts and are not guaranteed under any circumstances.
MBSB's personal loan interest rate starts from 3.32%. p.a.
No member fees or processing fees will be charged for MBSB personal loans.
For MBSB personal loans, there is no upfront installment payment required.
The total payout or financing amount you receive is 98%. The amount of financing you will receive is determined by MBSB.
MBSB personal loans have Takaful protection. This amount will be deducted from the amount borrowed.
Yes, you can make an overlap loan for MBSB personal loans.
If you are late in paying your monthly payments, you will be charged a late payment fee each month on the unpaid amount as stated in your financing agreement with MBSB personal loan.
Yes, you can make an advance payment for MBSB personal financing.
Check your eligibility through the Direct Lending platform and we will help you choose the best personal loan that suits your needs. Our experienced loan consultants will contact you and help you with the loan application process from AZ.
Apply and check your eligibility 100% free. No hidden charges or processing fees. To apply, click HERE .
* Subject to the terms and conditions. MBSB is at a floating rate starts from 3.32% p.a. The financing period is between a minimum of 2 years and a maximum of 10 years. As an illustration, for financing of RM10,000, for a period of 10 years at a floating rate of 3.32% pa, the total repayment at the end of the period is RM13,320.