Getting to know Co-opbank Pertama (Bank Persatuan)
The Co-opbank Pertama personal loan, also known as the Bank Persatuan personal financing, is offered by Koperasi Co-opbank Pertama Malaysia Berhad (Co-opbank Pertama) with salary deduction via Biro Angkasa. Co-opbank Pertama was established under the Co-operative Act 1993 and has gone through several rebrandings since the 1950s — from The Province Wellesley Co-operative Banking Union Limited to Bank Persatuan Malaysia Berhad, and is now known as Co-opbank Pertama.
As one of Malaysia’s leading cooperative financial institutions, Co-opbank Pertama is committed to providing competitive and Shariah-compliant financial products with integrity and reliability. Its offerings include personal financing, education loans, home and business financing, savings accounts, deposits, takaful, wills, and various member welfare schemes.
With over 30 branches nationwide, including in Sabah and Sarawak, Co-opbank Pertama continues to expand its services to help Malaysians achieve their financial goals. For applications made through Direct Lending, customers only need to visit the nearest Co-opbank branch to sign the offer letter once their financing is approved.
Special Loan Features
- Financing amount up to RM200,000
- Financing period from a minimum of 1 year up to 10 years
- Profit rate from 2.95%.
- Payout up to 98% and subtract 2 months of initial payment
- Payment through the Space Bureau
- No member fees, no processing fees
- No guarantor or collateral
- Shariah concept financing
- Financing covered by Takaful
- The process takes about 1 week
Applicant Requirements
- Malaysian citizens aged between 18 and no more than 60 years at the time of funding
- Government employees, statutory bodies or GLCs (as long as the employer has a space bureau deduction, except army)
- The position is permanent and has served for a minimum of 3 months
- Fixed monthly income of minimum RM2,000 including fixed allowance
- Calculate external commitments
Looking to combine all your debts into one easy monthly payment?
Achieve your financial freedom today with the Co-opbank Pertama Malaysia Berhad personal financing (formerly known as Bank Persatuan). This Shariah-compliant personal loan previously offered a competitive profit rate and was ideal for debt consolidation, helping borrowers reduce their monthly commitments.
However, Co-opbank Pertama (Bank Persatuan) is currently not accepting new applications. If you’re still looking for a loan, Direct Lending offers several bank and cooperative personal financing options with profit rates as low as 2.97% p.a. and payouts of up to 98%. You can also check out our article on the 5 Best Personal Loans for Government Servants in Malaysia to compare the best options based on your needs and credit record — even if you have CCRIS, CTOS, or AKPK issues.
If you’re interested, you can check your loan eligibility here — it’s 100% free, with no hidden fees or processing charges.
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Frequently Asked Questions
The Co-opbank Pertama personal loan known as Co-opbank Persatuan before is an unsecured personal loan. This means you do not need to provide collateral or guarantor to apply for this loan. Co-opbank Pertama's personal loan is a Shariah concept.
You can apply for a personal loan from Co-opbank Pertama for any purpose. Many apply for a personal loan from Co-opbank Pertama to consolidate debt where all expensive debts can be consolidated with the new loan. These low-rate loans can help reduce your monthly loan installments.
You are eligible to borrow if you are a civil servant in Malaysia and:
- A Malaysian citizen aged between 20 and not exceeding 60 years at the time of funding
- Hold a permanent position and serve at least 3 months in the public sector
- Minimum gross income of RM2,000 including fixed allowance
- Not declared bankrupt and able to repay the loan
Co-opbank Pertama personal loan will calculate your external commitment. Examples are car loans, credit cards, home loans and others. So you need to settle the debt commitment before applying for this loan.
For borrowers who have problems with CCRIS records, Co-opbank Pertama accepts but on the condition that the financing arrears must be cleared first before applying for a loan. For borrowers who have a CTOS record, non-banking companies are allowed, while for companies listed under banks, it must be clarified first before applying for a loan.
Co-opbank Pertama personal loans do not accept borrowers listed under the AKPK Credit Management Program.
The maximum loan amount that can be borrowed is RM200,000. The loan period is 10 years or up to 1 year before retirement age.
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 (certified true by the employer)
- Employment confirmation letter
- A copy of the latest bank statement with your monthly salary credit
For Co-opbank Pertama personal loans, pre-approval is as fast as 2 working days. Please note that times shown are based on best efforts and are not guaranteed under any circumstances.
Profit rate 2.31% for a loan period of up to 3 years and 2.67% for a period of 4 to 10 years (for applicants with a gross salary of RM2,000 & above). A fixed rate of 3.75% is also available for applicants with a gross salary of RM2,000 & above.
No member fees or processing fees will be charged for Co-opbank Pertama personal loans.
For Co-opbank Pertama personal loans, 2 months of advance installment payments will be deducted from the loan.
The total payout or financing amount you can receive is up to 98%. The amount of financing you will receive will be determined by Co-opbank Pertama.
Co-opbank Pertama personal loans have Takaful protection.
Yes, you can make an overlap loan for the Co-opbank Pertama personal loan.
If you are late paying a monthly payment, you will be charged a late payment fee each month on the unpaid amount as stated in your financing agreement with Co-opbank Pertama personal loan.
Yes, you can make an advance payment for Co-opbank Pertama personal financing.
Check your eligibility through the Direct Lending platform and let us help you find the best personal loan that suits your financial needs. Our experienced loan consultants will contact you and guide you through the entire loan application process from A to Z.
However, at this time, Co-opbank Pertama (formerly known as Bank Persatuan) is no longer accepting new applications. If you’re interested, we have several other attractive personal financing options from trusted banks and cooperatives such as MBSB Bank, AmBank Islamic, and Public Islamic Bank. You can find all of these in our article on the 5 Best Personal Loans for Government Servants.
If you’re interested, check your loan eligibility here. It’s 100% free with no hidden fees or processing charges.
* Subject to the terms and conditions. For applicants with a gross salary of RM2,000 and above, the financing profit rate is 2.31% per year for a financing period from a minimum of 1 year to a maximum of 3 years, and 2.67% for a financing period from a minimum of 4 years to a maximum of 10 years. As an illustration, for a loan of RM10,000, with a term of 10 years at a profit rate of 2.67% pa, the repayment amount at the end of the term is RM12,670.