Best Government/GLC Personal Loans in Malaysia 2022

Get below market interest rates, low income requirements and auto salary deduction via Biro Angkasa.

What is a government / GLC personal loan?

Like any other loans, government loans share the same features such as competitive rates, flexible repayment and high borrowing amount.

There are a variety of government personal loans Malaysia has to offer, from banks to cooperatives, conventional loans to Islamic loans, and secured loans to unsecured loans.

Who can apply for government loans?

Government loans are meant for those working in the government sector only. 

If you are employed by the Federal and State governments, chances to be approved are very likely.

Some banks do offer government loans to the employees of Statutory Bodies, Police, Army and, in some cases, government-linked company (GLC).

It is best to check with the bank on the eligibility requirements when applying for personal loans for civil servants.

What are the features and benefits of government loans?

1. Low-income requirement

Government employees have several advantages when applying for a government personal loan. 

One of them is the advantage of low income requirement, which usually starts from as low as RM800 per month, although it may vary from bank to bank.

2. Fixed and low interest rate

Other than that, government loans offer a fixed and low interest rate on the total loan amount throughout your borrowing period.

This could be because government employees must repay the monthly instalments through salary deductions via Biro Perkhidmatan Angkasa.

What documents do I need to apply for a government personal loan?

In any government personal loan applications, you will need to prepare some supporting documents for the bank to process and approve your government loan so that you can receive your money in no time.

Below are the common documents required by banks for government loans application:

  • MyKad / passport
  • Latest 1 to 3-month salary slips
  • Confirmation Letter from Employer
  • Bank statement from salary crediting account
  • Other supporting documents may be required

Nowadays, you can compare and apply for government loans online easily on RinggitPlus

But beforehand, make sure you compare all government loan rates, income requirements and benefits to get the best value out of your commitment.

Top Government Personal Loan Interest Rates 2022

Bank Interest / Profit RateMinimum Monthly Income Maximum Loan Amount Loan Tenure
Public Bank 3.99% - 4.45% p.a.RM1,500 RM150,000 24 - 120 months
Bank Islam 5.99% p.a.RM2,000 RM300,000 12 - 120 months
AmBank 4.08% p.a. RM1,500 RM200,000 24 - 120 months
UKHWAH 4.35% - 4.99% p.a. RM1,500 RM250,000 24 - 120 months
Bank Rakyat 4.54% - 4.99% p.a.RM1,000 RM200,000 12 - 120 months
RHB 4.50% p.a. RM2,000 RM200,000 24 - 120 months
BSN 4.60% - 6.99% p.a. RM1,500 RM200,000 12 - 120 months
Affin Islamic 5.50% p.a. RM1,500 RM250,000 24 - 120 months
Agrobank 5.20% - 5.70% p.a. RM1,000 RM200,000 12 - 120 months
Yayasan Ihsan Rakyat 5.99% - 9.99% p.a. RM1,500 RM250,000 12 - 120 months
Yayasan Dewan Perniagaan Melayu Perlis 5.99% - 9.99% p.a.RM1,500 RM250,000 12 - 120 months
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