KOBETA Cooperative Personal Financing

KOBETA Cooperative Personal Financing is a personal financing facility that offers a decent financing amount of up to RM150,000. It is specifically for permanent government and semi-government employees (e.g. TNB, POS Malaysia).

Best for: Urgent need for cash.

Income requirements: Minimum RM1,500/month.

Pros:

• Low income requirement (RM1,500 gross monthly income)
• Higher financing amount (RM150,000)
• Flat profit rate

• How can I benefit from KOBETA Cooperative Personal Financing?

  KOBETA Cooperative personal financing is well known for their guaranteed approval on their personal financing solutions. If you find it hard to get approved for other type of loans, KOBETA is your best bet!

• What is the maximum financing amount?

  RM150,000

• What is the financing tenure?

  10 years.

• How to apply for KOBETA Personal Financing?

  You can go to the nearest KOBETA office and get the application form or contact a KOBETA executive.

• How long is the approval process?

  The entire process takes between 1-2 weeks (2 - 4 days to get approval and 7-10 days before KOBETA disburses the cash into your bank account).

  To speed up the process, you can complete the application through iMoney where our Call Centre Consultants will walk you through the eligibility checker, application form, and advise you on the required document submission.

• Am I eligible for KOBETA Cooperative Personal Financing?

  Here are KOBETA's eligibility requirements;

  • Civil servants or employees of statutory bodies
  • Age between 21 to 59 years old
  • Permanent employee
  • Over 6 months of working.
  • Minimum monthly salary of RM1500 (including allowance)
  • Existing salary deduction of less than 50% and 60%
  • CTOS not exceeding RM20,000.00

• What are the required documents?

  Once you have completed your application with iMoney, you are required to provide the following documents for your application:

  • Copy of NRIC (front and back)
  • 3 months (most current) salary slips
  • 3 months (most current) bank statements
  • Confirmation letter by employer
  • Angkasa Form (Blue Form) or Letter of authorisation to deduct salary
  • Application Form

• What is the interest rate?

  A flat profit rate of 5.99% is fixed for the entire financing period and the payout is up to 93% of the financing amount.

• How much do I have to pay monthly?

  As with any personal financing, you will have to make monthly repayment which comprises of principal amount and an interest rate.

  Use our personal loan calculator above to estimate your monthly repayment.

• What are the fees and charges?

  One-time set-up fee: A stamp duty fee of 0.5% on loan amount will be deducted upfront before your loan amount is given to you or disbursed to you.

  Processing fee: None

  Early termination fee: Yes

  Late penalty fee: None

  Note: There are no upfront charges or additional fees when you apply through iMoney. We will also not request any deposit payment from you.

• What is KOBETA Cooperative Personal Financing repayment methods?

  KOBETA Cooperative personal financing uses BPA salary deduction as their repayment method.

• Can I apply if I have a bad CCRIS/CTOS/credit score?

  Credit records like non-bank CTOS under RM20k is allowed but subject to terms and conditions while credit records on CTOS from financial institutions need to be settled with the new financing application to qualify. If possible, we recommend that you settle any outstanding payments and wait for three months before you apply.

  Check your iMoney CreditScore for free to find out how your credit health is.

• If you are looking for other personal loans, you may also consider

  AEON i-Cash Personal Financing

  If you wish to have a slightly faster approval, you may consider AEON i-Cash Personal Financing which can approve your application within 3 days. With a similarly low income requirement of RM1,500, this personal financing package comes with a shorter repayment tenure of 7 years.

  CBP Personal Financing-i Lestari

  Another personal financing facility for civil servants is CBP Personal Financing-i Lestari which provides a higher financing amount of RM200,000. Although the monthly income requirement is slightly higher at RM3,000, it comes with a lower profit rate of 2.75% - 2.85% p.a.