YYP Personal Financing

YYP Personal Financing is a personal financing facility that offers a high financing amount of up to RM150,000. It is specifically for government employees in Malaysia with a minimum income of RM1,500 and who work for the following employers:

• Accountant General
• Polis Diraja Malaysia (PDRM)
• Universiti Putra Malaysia (UPM)
• Universiti Teknologi MARA (UiTM)

Best for: Debt consolidation or cashflow for personal use.

Income requirements: Minimum RM1,500/month.

Pros:

• Low income requirement (RM1,500 gross monthly income)
• Higher financing amount (RM150,000)
• Low interest rate
• No guarantor required

• What is the maximum financing amount?

  RM25,00 to RM150,000.

• What is the financing tenure?

  1 – 10 years.

• What are the eligibility requirements?

  Employees of the Malaysian government for the following employers:

  Sector A:

  • Accountant General
  • Polis Diraja Malaysia (PDRM)
  • Universiti Putra Malaysia (UPM)
  • Universiti Teknologi MARA (UiTM)

  Sector B: State government

  Sector C:

  • Institutes
  • Suruhanjaya
  • GLC

  Sector D: Staff of any Majlis, Lembaga, Perbadanan, or University owned by the government

  You are also required to meet the eligibility criteria below:

  • Citizenship: Malaysian
  • Employment: Permanent civil servants in Malaysia with at least 6 months of service
  • Income: Minimum RM1,500/month gross income
  • Age: Between 20 – 58 years old (Maximum age for PDRM customers is 55 years old)
  • Financial background: Not bankrupt and passed YYP’s credit assessment

• How long is the approval process?

  Your application will be processed between 2 – 3 working days, subject to complete document submission, employer verification and customer confirmation through akad. Cash will be disbursed into your account within 24 hours of approval.

  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 fees and charges?

  Stamp duty: 0.5% of the financing amount

  Processing fee: None

  Early settlement fee: RM60, processing fee for each Early Settlement Statement

  Late penalty fee: 1% of outstanding amount

  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 the interest rate?

  Fixed profit rate as low as 6.5% p.a., subject to individual income and risk profile.

• 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 do I make my repayment?

  Authorised salary deduction via ANGKASA

• 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

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

  You will need to pass YYP’s credit assessment before your application can be considered.

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

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

  KOBETA Cooperative Personal Financing

  Similar to YYP Personal Financing but with less restrictions on employment eligibility, KOBETA Cooperative Personal Financing is open to all civil servants including semi-government staff from POS Malaysia and Tenaga Nasional Berhad (TNB).

  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.

  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.