Co-opbank Pertama (Bank Persatuan) Personal Loan

Floating rate from 2.95% p.a.

  • Loan up to RM200,000. Suitable for debt consolidation
  • Islamic financing
  • For civil servants
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Getting to know Co-opbank Pertama (Bank Persatuan)

This personal loan is provided by Koperasi Co-opbank Pertama Malaysia Berhad (Co-opbank Pertama) with repayment through the space bureau deduction. Co-operative Co-opbank Pertama Malaysia Berhad was established under the Co-operative Act 1993 with the original name "The Province Wellesley Co-operative Banking Union Limited". In 1959 the name was changed to Bank Persatuan Kerjasama Seberang Perai Berhad and then in 1995 it was changed to the name Koperasi Bank Persatuan Malaysia Berhad and in 2014 the name was changed to the name Koperasi Co-opbank Persatuan Malaysia Berhad.

First Co-opbank's mission is to give the best returns to customers and members and also offer competitive banking products with full integrity. As a financial institution, First Co-opbank provides a variety of products and services, including personal financing, education financing, real estate financing, housing financing, business financing, deposit products, savings accounts, welfare schemes, takaful, wills and housing schemes.

First Co-opbank has approximately 30 branches throughout Malaysia, including Sabah and Sarawak. After the customer makes an application for Co-opbank Pertama financing through Direct Lending, the customer will be required to go to the nearest Co-opbank branch to sign the offer letter when the 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

Want to consolidate your debt?

Achieve your financial freedom today with a personal loan from Co-opbank Pertama (formerly known as Association Bank). You can use this low-rate personal financing to consolidate more expensive debt so you can reduce the burden of monthly loan payments.

Direct Lending is an online personal loan platform that offers bank & cooperative personal loans that are fast, easy, safe and affordable. Direct Lending has a strategic partnership with First Co-opbank since 2019. 100% free application. Securely check your eligibility today.

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Frequently Asked Questions

What is a Co-opbank Pertama personal loan? Is this loan a Shariah concept?

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.

Am I eligible to apply for a personal loan from Co-opbank Pertama?

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
I have a high off-payroll commitment. Can I apply for this 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.

I have a CCRIS/CTOS problem. Can I apply 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.

I am under the AKPK Credit Management Program. Can I apply for this loan?

Co-opbank Pertama personal loans do not accept borrowers listed under the AKPK Credit Management Program.

How much loan amount and duration can I apply for?

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.

How is this loan repayment process?

Your loan is repaid monthly through automatic salary deductions processed by Angkatan Koperasi Kebangsaan Malaysia Berhad (ANGKASA).

My salary deduction is over 60%, can I apply for this loan?

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.

What documents do I need to prepare to apply for a Co-opbank Pertama loan?

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
How long does it take before the loan is credited to my bank account?

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.

What is the interest rate on Co-opbank Pertama personal loans?

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.

What are the charges for a Co-opbank Pertama personal loan? This loan has member fees?

No member fees or processing fees will be charged for Co-opbank Pertama personal loans.

Are any down payment installments required?

For Co-opbank Pertama personal loans, 2 months of advance installment payments will be deducted from the loan.

How much in hand will I receive with this loan? What amount of funding will I receive?

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.

Does this loan have Takaful protection?

Co-opbank Pertama personal loans have Takaful protection.

I already have an active Co-opbank Pertama personal loan, can I make an Overlapping Facility for this loan?

Yes, you can make an overlap loan for the Co-opbank Pertama personal loan.

What will happen if I pay late?

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.

Can I make an advance payment for my personal financing?

Yes, you can make an advance payment for Co-opbank Pertama personal financing.

How can I apply for a Co-opbank Pertama personal loan?

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. 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.