Why Use Direct Lending

Easy Sign Up
Only IC and bank statement

Quick Approval
Within 15 minutes (during working hours)

Affordable
Pay up to 12 times monthly payments. No hidden fee

Inclusive
No credit or debit card required
Shariah Compliant Financing
Payment Calculator


How to apply?
Apply
Fill in your details

Upload
Only identification card and 3 months bank statement

Check Out
Make first payment, set the monthly payment and sign the financing agreement

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Frequently Asked Questions
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 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 thisform 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.
Click here for DirectCare Financing Terms and Conditions
Click here for DirectCare Product Disclosure Sheet
Click here for DirectCare+ PA Takaful FAQ
*Subject to the terms and conditions. The financing amount ranges from RM300 (minimum) to RM5000 (maximum). Profit rate is 1.5% per month depending on customer’s credit profile. Financing period is from 3 to 12 monthly payments. As an illustration, for financing RM500 with tenor of 6 months, profit rate of 1.5% monthly, the total monthly repayment is RM89.5 per month.