UKHWAH Cooperative Personal Financing

UKHWAH Cooperative Personal Financing is a personal financing facility that offers a decent financing amount of up to RM250,000. It is specifically for permanent government employees who have worked for at least 6 months.

Best for: Debt consolidation or cashflow.

Income requirements: Minimum RM1,500/month.

Pros:

• Low income requirement (RM1,500 gross monthly income)
• Higher financing amount (RM250,000)
• Low interest rate
• No guarantor required
• Possible rebates for early repayment

• Why should I apply for an UKHWAH Cooperative Personal Financing?

  If you are a government or Government linked companies (GLC) employee, then UKHWAH Cooperative personal financing represents a very attractive financing solution for you as it offers a very competitive profit rate and a very high financing amount.

• How to apply for a UKHWAH Cooperative Personal Financing?

  You can apply for the UKHWAH cooperative Personal Financing right here.

• What is the maximum financing amount?

  RM250,000

• What is the financing tenure?

  1 – 10 years.

• What are the eligibility requirements?

  • Citizenship: Malaysian
  • Employment: permanent government employees who have worked for at least 6 months
  • Income: Minimum RM1,500/month gross income
  • Age: Between 21 – 60 years old. If you apply for this personal financing package is at age 55, your maximum tenure is 5 years when you reach 60. This means that you must settle your repayments before you reach the age limit of 60.

• How long is the approval process?

  The entire process takes about 2 weeks (3 – 5 days for approval and 7 – 10 days for the money to be deposited into your bank account).

  Your application will be sent to Direct Lending Sdn Bhd for processing.

  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.

• 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 UKHWAH Cooperative Personal Financing rate?

  A flat profit rate of 5.90% is fixed for the entire financing period.

• 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.

• How does the UKHWAH Cooperative Personal Financing calculator work?

  The UKHWAH Cooperative Personal Financing calculator can help you calculate your monthly commitment based on your financing amount and your financing tenure.

• What are the fees and charges?

  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.

• How do I make my repayment?

  Authorised salary deduction via ANGKASA

• Can I do early settlement with the UKHWAH Cooperative Personal Financing?

  Yes you can, but you will need to fill out the early settlement form before you can proceed with the early settlement of UKHWAH Cooperative personal financing.

• How do I check my UKHWAH Cooperative Personal Financing application status?

  You can call the UKHWAH Cooperative Personal Financing support team right here.

• Can I apply even if I'm blacklisted?

  Yes you can, however you will be required to settle the outstanding loans you have first, either partially or in full.

• 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

  KOBETA Cooperative Personal Financing

  Similarly exclusive for government employees, this personal financing package has the same income requirement of RM1,500/month.

  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.