Co-opbank Pertama Lestari Personal Financing-i (Private) 

The Co-opbank Pertama Lestari Personal Financing-i (Private) is a Shariah-compliant facility specifically tailored for employees in the private sector. Based on the Tawarruq concept, this plan allows you to access significant capital ranging from RM5,000 up to RM200,000, with a flexible repayment tenure extending up to 10 years. As an unsecured financing product, it eliminates the need for any guarantor or collateral, providing a much faster and more straightforward application process for eligible professionals looking to consolidate debt or fund major life goals.

One of the most attractive features of this facility is that you can apply without the burden of providing a guarantor or collateral. Plus, this financing will offer you a competitive profit rate as low as 3.99% per year. To help you stay on top of your finances without the manual hassle, repayments is managed via an automated salary deduction through Biro Perkhidmatan Angkasa (BPA). This system ensures your installments are always paid on time directly from your income, protecting your credit score from accidental late payments. Furthermore, you have the option to add a layer of security with Takaful protection, which safeguards your family by covering the remaining financing balance in the event of death or total permanent disability.

This Co-opbank Pertama Lestari Personal Financing-i (Private) is open to: Malaysian citizens Aged between 21 and 60 years old or up to retirement age Must have minimum monthly gross income of RM4,000 or more Permanent staff member of member of a selected private sector company and have served more than 3 years

The amount you can secure with Co-opbank Pertama Lestari Personal Financing-i (Private) depends on your preferred repayment method. 1. Salary Deduction (via Biro Angkasa) If you opt for the most seamless repayment method which is Salary Deduction, you can access significantly higher financing limits. For professionals with a monthly gross income exceeding RM4,000, the maximum financing limit is capped at RM200,000. It is important to note that the actual approved amount will be determined by either your maximum allowable salary deduction or the RM200,000 ceiling, whichever is lower. 2. Electronic Payment (Standing Instruction or Online Banking) For those who prefer to manage their repayments manually or through automated bank transfers (Standing Instruction/Post-Dated Cheques), the financing limit is calculated as a multiple of your monthly salary. This is a great option for private sector employees who do not have access to salary deduction facilities: Gross Salary between RM5,000 and RM10,000: You are eligible to apply for up to 15 times your monthly salary. Gross Salary exceeding RM10,001: Your eligibility increases to 20 times your monthly salary. Similar to the deduction method, these categories are also subject to an overall maximum limit of RM200,000. Regardless of the method you choose, Co-opbank Pertama will finalize your actual approved sum based on a thorough credit assessment and your debt service ratio (DSR) to ensure the financing remains affordable for you. The financing amount you can unlock with Co-opbank Pertama Lestari Personal Financing-i (Private) is primarily determined by how you choose to repay. This flexible structure allows the bank to offer higher limits to those using more secure repayment channels while still providing generous options for those who prefer manual transfers.

The profit rate is tiered based on your employment sector, the length of your tenure, and how you choose to make your repayments. This structure ensures that you can access the most cost-effective rates by choosing the payment method that best suits your financial profile. 1. Private Sector Employees If you opt for repayments via Biro Perkhidmatan Angkasa (BPA), a flat rate of 4.29% p.a. applies across all tenures from 1 to 10 years. For those who prefer independent payment methods such as Post-Dated Cheques, Standing Instructions, or Online Banking, the rate is set at 5.00% p.a. for the duration of the financing. 2. Private Sector Professionals Professionals in the private sector benefit from a simplified, unified rate regardless of their chosen repayment method. Whether you choose Post-Dated Cheques, Standing Instruction or Online Banking, you will enjoy a consistent profit rate of 3.99% p.a. for any tenure ranging from 1 to 10 years. This provides greater flexibility for high-earning professionals to manage their cash flow without being restricted to a specific deduction system.

Upon approval, a one-time processing fee of RM100 is required. Additionally, a Wakalah (Agency) fee of RM50 (subject to SST) applies to each financing withdrawal. You should also budget for government stamp duty, which is calculated at 0.5% of your total financing amount as per the Stamp Act 1949. To keep your financing as cost-effective as possible, staying consistent with your monthly installments is vital. If you fall into arrears, a late payment charge (Ta'widh) of 1% per annum will be imposed on the outstanding balance. This charge is calculated on a daily basis, which can add up over time and affect your credit score. Being aware of these charges upfront ensures there are no surprises, allowing you to manage your cash flow with total confidence.

To make your application smoother, you will need to prepare a few documents: Copy of Identity Card (front and back) Copy of latest 3 months' payslips EA Form (Annual Income Statement) Letter of Employment Confirmation Supporting documents: Latest 3 months' bank statement Letter of service termination or retirement age (if applicable) Settle statement for other financing (if any)