Need flexible financing that aligns with your values? The Lestari Personal Financing-i (Public) by Co-opbank Pertama (CBP) is one of the best Shariah-compliant solutions. Tailored for cooperative members in the public sector, statutory bodies, and selected public companies, this facility provides the ethical support you need for major life goals such as education, medical expenses, or improving your financial stability.
What is Co-opbank Pertama Lestari Personal Financing-i (Public)?
The Co-opbank Pertama Lestari Personal Financing-i (Public) product is an Islamic facility structured under the Tawarruq concept for public sector employees, guaranteeing full adherence to Shariah principles. It provides access to large capital, offering funds of up to RM400,000 with a flexible maximum repayment tenure extending to 10 years.
Why should I choose Co-opbank Pertama Lestari Personal Financing-i (Public)?
This financing offers many advantages. Among them are:
- No collateral or guarantor: You do not need to provide assets as collateral or find a guarantor to apply for this financing.
- Long repayment tenure: You can choose a repayment period from 1 year up to a maximum of 10 years.
- Competitive profit rate: The profit rate is as low as 3.45% per annum.
- Easy repayment method: Monthly instalment repayments can be made via automatic salary deduction through the Biro Perkhidmatan Angkasa (BPA) or Employer Salary Deduction (PGM).
- Takaful protection option: You can choose to add Takaful protection to settle the outstanding financing balance in the event of the borrower's death or total permanent disability.
What is the financing amount I can get from this Co-opbank Pertama financing?
You can obtain financing based on your salary bracket. For those with an income between RM1,500 and RM3,999.99, the eligible financing amount is up to RM200,000 or according to the permitted deduction eligibility (whichever is lower).
For those earning RM4,000 and above, the eligible financing amount is up to RM400,000 or according to the permitted deduction eligibility (whichever is lower).
However, the actual amount you are eligible for will be determined by Co-opbank Pertama based on your income and credit assessment.
What is the profit rate for Co-opbank Pertama Lestari Personal Financing-i (Public)?
The profit rate depends on the financing repayment period, as follows:
- 1 to 3 years: 3.45% per annum
- 4 to 10 years: 3.75% per annum
Who can apply for Co-opbank Pertama Lestari Personal Financing-i (Public)?
The criteria for eligible applicants are as follows:
- Malaysian Citizen.
- Aged between 18 and 60 years old or up to the retirement age.
- Must have a minimum gross monthly income of RM1,500.
- Must be a permanent staff member of the Government (Civil Service), Statutory Bodies, and GLCs (Government-Linked Companies) who have served for more than 3 months.
- Must be a contract doctor who has served for more than 1 year.
- Must be contract staff of KEMAS and the Department of National Unity who have served for more than 2 years.
What are the financing details?
To help you plan effectively, note that financing amounts range from RM10,000 to RM400,000. The final approved sum and the profit rate (which falls between 3.45% p.a. and 3.75% p.a.) are not fixed but will be determined by Co-opbank Pertama after assessing your income and credit profile.
Here are the applicable fees:
- Processing Fee: RM100
- Wakalah Fee: RM50 for every financing withdrawal, subject to Sales and Service Tax (SST)
- Late Payment Charge (Ta'widh): In the event of instalment arrears, a compensation charge of 1% per annum will be imposed on the outstanding amount, calculated daily.
- Stamp Duty: Will be charged according to the Stamp Act 1949 (Revised 1989).
What documents need to be provided?
Please prepare the following documents for your application:
- Copy of Identity Card (front & back)
- Copy of 3 latest months' payslips
- EA Form (Annual Income Statement)
- Letter of Employment Confirmation
Supporting Documents:
- 3 latest months' bank statements (showing salary credit)
- Letter of service termination or retirement age (if applicable)
- Settlement statement for other financing (if any)
Note: Supporting documents must be provided before signing the offer letter and agreement. Failure to do so will result in the approved financing amount being adjusted based on the documents already received.
