Compare Government/GLC Personal Loans in Malaysia 2021

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Government Personal Loans

Showing personal loan packages for loan amount of RM 10,000 over 5 years

MBSB Mumtaz-i

MBSB Mumtaz-i

Profit Rate: 2.52 %

( Effective Rate: 4.77% )

Monthly Payment: RM 188

(Total Repayment: RM 11,260)

More About This Product
  1. Minimum loan amount: RM 3,000.00
  2. Maximum loan amount: RM 250,000.00
  3. Minimum Tenure: 24 Month(s)
  4. Maximum Tenure: 120 Month(s)
  5. Minimum Age: 19 Years Old
  6. Maximum Age: 60 Years Old upon financing maturity
  7. Islamic Financing
  8. Special Requirements:

    Government Employee

    Employee of Government Link-Company (GLC)

    State Government Link-Company

    Local Council

    Approved companies under Non-Biro arrangement

Fees and charges
  1. Stamp Duty: None
  2. Processing Fee: None
  3. Late Payment Fee: 1% of the total outstanding loan amount and not compounded
  4. Early Settlement Fee: None
  5. Handling Fee: None
  6. APR: %
Bank Rakyat Personal Financing-i for Pensioner

Bank Rakyat Personal Financing-i for Pensioner

Profit Rate: 4.26 %

( Effective Rate: 7.88% )

Monthly Payment: RM 203

(Total Repayment: RM 12,130)

More About This Product
  1. Minimum loan amount: RM 5,000.00
  2. Maximum loan amount: RM 100,000.00
  3. Minimum Tenure: 12 Month(s)
  4. Maximum Tenure: 120 Month(s)
  5. Minimum Age: 55 Years Old
  6. Maximum Age: 65 Years Old upon financing maturity
  7. Islamic Financing
  8. Special Requirements:

    No Guarantor is Required

    Takaful Insurance is Optional

    Maximum amount of RM100,000 or  Maximum 15x your monthly gross pension.

Fees and charges
  1. Stamp Duty: 0.5% of the loan amount
  2. Processing Fee: Wakalah or agency fee of RM28.30
  3. Late Payment Fee: 1%p.a on the amount in arrears.
  4. Early Settlement Fee: Rebate (Ibra’) will be given on the deferred profit
  5. Handling Fee: None
  6. APR: %
RHB Personal Financing-i for Civil Sector

RHB Personal Financing-i for Civil Sector

Profit Rate: 4.5 %

( Effective Rate: 8.29% )

Monthly Payment: RM 205

(Total Repayment: RM 12,250)

More About This Product
  1. Minimum loan amount: RM 2,000.00
  2. Maximum loan amount: RM 200,000.00
  3. Minimum Tenure: 24 Month(s)
  4. Maximum Tenure: 120 Month(s)
  5. Minimum Age: 18 Years Old
  6. Maximum Age: 58 Years Old upon financing maturity
  7. Islamic Financing
  8. Special Requirements:

    No guarantor required

Fees and charges
  1. Stamp Duty: RM10
  2. Processing Fee: RM30
  3. Late Payment Fee: 1% on outstanding loan amount
  4. Early Settlement Fee: None
  5. Handling Fee: None
  6. APR: %
 BSN MyRinggit-i SKAN (Klasik)

BSN MyRinggit-i SKAN (Klasik)

Profit Rate: 4.6 %

( Effective Rate: 8.47% )

Monthly Payment: RM 205

(Total Repayment: RM 12,300)

More About This Product
  1. Minimum loan amount: RM 5,000.00
  2. Maximum loan amount: RM 200,000.00
  3. Minimum Tenure: 24 Month(s)
  4. Maximum Tenure: 120 Month(s)
  5. Minimum Age: 21 Years Old
  6. Maximum Age: 60 Years Old upon financing maturity
  7. Islamic Financing
  8. Special Requirements:

    State Government Department employees with salary accounts under State Treasury / Finance Department

    Permanent employee who has been employed for above 3 months

    For contract / temporary employee (over 12 months’ service) - guarantor required

    BSN GIRO/i account holder

Fees and charges
  1. Stamp Duty: 0.5% of the loan amount
  2. Processing Fee: None
  3. Late Payment Fee: 1%p.a on the amount in arrears.
  4. Early Settlement Fee: None
  5. Handling Fee: None
  6. APR: %
BSN MyRinggit-i SCOP (Super Klasik B)

BSN MyRinggit-i SCOP (Super Klasik B)

Profit Rate: 4.6 %

( Effective Rate: 8.47% )

Monthly Payment: RM 205

(Total Repayment: RM 12,300)

More About This Product
  1. Minimum loan amount: RM 5,000.00
  2. Maximum loan amount: RM 200,000.00
  3. Minimum Tenure: 24 Month(s)
  4. Maximum Tenure: 120 Month(s)
  5. Minimum Age: 21 Years Old
  6. Maximum Age: 60 Years Old upon financing maturity
  7. Islamic Financing
  8. Special Requirements:

    PDRM employees with salary account under Bahagian Akaun, KDN

    Permanent employee who has been employed for more than 3 months

    BSN GIRO/i account holder

     

Fees and charges
  1. Stamp Duty: 0.5% of the loan amount
  2. Processing Fee: None
  3. Late Payment Fee: 1%p.a on the amount in arrears.
  4. Early Settlement Fee: None
  5. Handling Fee: None
  6. APR: %
BSN MyRinggit-i SKAP (Klasik)

BSN MyRinggit-i SKAP (Klasik)

Profit Rate: 4.6 %

( Effective Rate: 8.47% )

Monthly Payment: RM 205

(Total Repayment: RM 12,300)

More About This Product
  1. Minimum loan amount: RM 5,000.00
  2. Maximum loan amount: RM 200,000.00
  3. Minimum Tenure: 24 Month(s)
  4. Maximum Tenure: 120 Month(s)
  5. Minimum Age: 21 Years Old
  6. Maximum Age: 60 Years Old upon financing maturity
  7. Islamic Financing
  8. Special Requirements:

    Permanent Federal Government Servant

    Permanent employee who has been employed for more than 3 months – no guarantor required

    For contract / temporary employee (over 12 months’ service) - guarantor required

    BSN GIRO/i account holder

Fees and charges
  1. Stamp Duty: 0.5% of the loan amount
  2. Processing Fee: None
  3. Late Payment Fee: 1%p.a on the amount in arrears.
  4. Early Settlement Fee: None
  5. Handling Fee: None
  6. APR: %
BSN MyRinggit-i SKAP (Super Klasik B)

BSN MyRinggit-i SKAP (Super Klasik B)

Profit Rate: 4.6 %

( Effective Rate: 8.47% )

Monthly Payment: RM 205

(Total Repayment: RM 12,300)

More About This Product
  1. Minimum loan amount: RM 5,000.00
  2. Maximum loan amount: RM 200,000.00
  3. Minimum Tenure: 24 Month(s)
  4. Maximum Tenure: 120 Month(s)
  5. Minimum Age: 21 Years Old
  6. Maximum Age: 60 Years Old upon financing maturity
  7. Islamic Financing
  8. Special Requirements:

    Permanent Federal Government Servant

    Permanent employee who has been employed for more than 3 months – no guarantor required

    For contract / temporary employee (over 12 months’ service) - guarantor required

    BSN GIRO/i account holder

     

Fees and charges
  1. Stamp Duty: 0.5% of the loan amount
  2. Processing Fee: None
  3. Late Payment Fee: 1%p.a on the amount in arrears.
  4. Early Settlement Fee: None
  5. Handling Fee: None
  6. APR: %
BSN MyRinggit-i BPA (Klasik)

BSN MyRinggit-i BPA (Klasik)

Profit Rate: 4.6 %

( Effective Rate: 8.47% )

Monthly Payment: RM 205

(Total Repayment: RM 12,300)

More About This Product
  1. Minimum loan amount: RM 5,000.00
  2. Maximum loan amount: RM 200,000.00
  3. Minimum Tenure: 24 Month(s)
  4. Maximum Tenure: 120 Month(s)
  5. Minimum Age: 21 Years Old
  6. Maximum Age: 60 Years Old upon financing maturity
  7. Islamic Financing
  8. Special Requirements:

    Employees of government / Statutory Bodies / selected organisations with salary deduction facility through BPA

    Permanent employee who has been employed for more than 3 months – no guarantor required

    For contract / temporary employee (over 12 months’ service) - guarantor required

    BSN GIRO/i account holder

     

Fees and charges
  1. Stamp Duty: 0.5% of the loan amount
  2. Processing Fee: None
  3. Late Payment Fee: 1%p.a on the amount in arrears.
  4. Early Settlement Fee: None
  5. Handling Fee: None
  6. APR: %
BSN MyRinggit-i BPA (Super Klasik B)

BSN MyRinggit-i BPA (Super Klasik B)

Profit Rate: 4.6 %

( Effective Rate: 8.47% )

Monthly Payment: RM 205

(Total Repayment: RM 12,300)

More About This Product
  1. Minimum loan amount: RM 5,000.00
  2. Maximum loan amount: RM 200,000.00
  3. Minimum Tenure: 24 Month(s)
  4. Maximum Tenure: 120 Month(s)
  5. Minimum Age: 21 Years Old
  6. Maximum Age: 60 Years Old upon financing maturity
  7. Islamic Financing
  8. Special Requirements:

    Employees of government / Statutory Bodies / selected organisations with salary deduction facility through BPA

    Permanent employee who has been employed for more than 3 months – no guarantor required

    For contract / temporary employee (over 12 months’ service) - guarantor required

    BSN GIRO/i account holder

Fees and charges
  1. Stamp Duty: 0.5% of the loan amount
  2. Processing Fee: None
  3. Late Payment Fee: 1%p.a on the amount in arrears.
  4. Early Settlement Fee: None
  5. Handling Fee: None
  6. APR: %
BSN MyRinggit-i SKAN (Super Klasik B)

BSN MyRinggit-i SKAN (Super Klasik B)

Profit Rate: 4.6 %

( Effective Rate: 8.47% )

Monthly Payment: RM 205

(Total Repayment: RM 12,300)

More About This Product
  1. Minimum loan amount: RM 5,000.00
  2. Maximum loan amount: RM 200,000.00
  3. Minimum Tenure: 24 Month(s)
  4. Maximum Tenure: 120 Month(s)
  5. Minimum Age: 21 Years Old
  6. Maximum Age: 60 Years Old upon financing maturity
  7. Islamic Financing
  8. Special Requirements:

    State Government Department employees with salary accounts under State Treasury / Finance Department

    Permanent employee who has been employed for above 3 months

    For contract / temporary employee (over 12 months’ service) - guarantor required

    BSN GIRO/i account holder

Fees and charges
  1. Stamp Duty: 0.5% of the loan amount
  2. Processing Fee: None
  3. Late Payment Fee: 1%p.a on the amount in arrears.
  4. Early Settlement Fee: None
  5. Handling Fee: None
  6. APR: %

Showing 10 of 32 Packages

Frequently Asked Questions (FAQ)

A government/GLC personal loan is an unsecured funding option provided specially for government employees or employees in the public sector. A government/GLC personal loan is not provided by the government because they are not a financial institution. It is provided by several banks which have the jurisdiction to provide loans to the public.

These are the features and benefits of a government/GLC personal loan:

  • You can get affordable financing options
  • You can choose between a fixed interest rate or a floating interest rate
  • You don’t need a guarantor
  • Your monthly repayments will be auto-deducted from your salary
  • You can get a maximum loan tenure of 10 years

The interest rate is calculated based on what type of interest rate you have chosen. The banks allow you to choose between a fixed interest rate or a floating interest rate. A fixed interest rate will not change throughout your loan tenure whereas a floating interest rate will vary depending on the banks’ base rate (BR).

Monthly repayments for a government/GLC personal loan will be deducted directly from your salary, therefore you will not have to worry whether you have made your monthly repayments. However, if you want to pay off your loan earlier, you will have to inform the bank ahead of time. This is because the process to stop deducting your monthly salary will take a certain period of time.

These are the criteria to apply for a government/GLC personal loan:

  • You must be a Malaysian citizen or a permanent resident.
  • You have to be 18 to 60 years old upon loan maturity.
  • You must have a minimum monthly gross income of RM1,000.
  • You have to be a GLC employee or a public sector employee.
  • You have to be working for at least 3 months.
However, scheduled_income_tax_deduction banks’ requirements may differ from the above. Make sure to check with your respective bank on their requirements.

On Loanstreet, just press apply and fill in your details. We will submit your application to the respective bank and you will receive an email from us within 1 working day. The email will state whether you will have to apply through the bank’s website or walk into the bank itself.

These are the documents you will need to apply for a government/GLC personal loan:

  • A copy of your NRIC
  • Latest 3 months of pay slips
  • Latest EPF statement
  • Confirmation letter from your employer
However, do check with your respective bank on what documents you will need, as some banks may require more documents than the ones stated above.

Every bank has a different processing time to approve your application. However, it would usually take an hour up to 5 working days to get an approval from the bank. Once your application has been approved, your loan will normally be given to you a day after approval. To make the processing time faster and more efficient, make sure to submit all the relevant documents with the correct details.