• Civil Servant Loan, GLC Loan

    Civil Servant Loans are offered to government workers and GLC employees. The employees in government and government linked companies are eligible to apply for the Civil Servant Loan.

    Eligibility Criteria for Civil Servant Loan

    The borrower must be:

    • At least 18 years of age.
    • Must not exceed retirement age at the end of the loan tenure.
    • Must be working for government, government linked company and public sector.

    Features and benefits of Civil Servant Loan

    The features and benefits of Civil Servant or GLC Loans are as follows:

    • The loans have a longer tenure.
    • Lower rate of interest.
    • Unsecured loan hence there is no need for a guarantor or collateral.
    • The loans are paid back through monthly salary deductions and you won’t have to worry about meeting the deadline.
    • GLC or Civil Servant loans start at RM2,000 subject to a maximum of 35 times your monthly salary.
    • The repayment term offered is 10 years.
    • The loan also comes in Shariah compliant variant.
    • The interest rate offered is either fixed or floating.

    How to apply for Civil Servant or GLC Loan

    Many banks and lending agencies offer government loans to civil servants and government workers. You are required to submit the following:

    • Duly filled application form.
    • The documents required by the bank or the lending agency.

    You can approach the bank and the lending agency before applying for the loan to know the rate of interest that is being offered. Compare the rate of interest with the other bank’s rate of interest and then take a call on which provider to choose.

    Major lending banks in Malaysia that offer Civil Servant Loan

    Bank Rakyat:

    Personal Financing i-Civil Servant (Rakan Pintar):

    Stamp duty charges is 0.5% of the loan amount. There is no early settlement fee charged. You will be charged a 1% fee on the outstanding amount for late payment. The finance tenure ranges from 12 – 36 months. Borrower’s salary will be transferred to Bank Rakyat account. Profit rate without Takaful is 4.06%.

    Personal Financing i- Public (Floating Rate):

    This is provided to government servants and GLC servants. There is no early settlement fee charged. Stamp duty charges is 0.5% of the loan amount. You will be charged a 1% fee on the outstanding amount for late payment. The finance tenure ranges from 12 – 36 months. Borrower’s salary will be transferred to Bank Rakyat account. Profit rate without Takaful is 8.47%.

    Personal Financing i- Public (Fixed Rate):

    Exclusive for government servants and GLC servants. Stamp duty charges is 0.5% of the loan amount. There is no early settlement fee charged. Late payment charge is 1% of the outstanding amount. The finance tenure ranges from 12 – 36 months. Takaful coverage is optional. It is Shariah compliant. The profit rate without Takaful is 4.25%.

    Personal Loan for Pensioners:

    Exclusive for government servants not older than 65 years when the financing ends. Stamp duty charges is 0.5% of the loan amount. There is no early settlement fee charged. Late payment charge is 1% of the outstanding amount. The finance tenure ranges from 12 – 120 months. It is Shariah compliant. The pension will be transferred to Bank Rakyat.

    BSN – Aflah SSP Pledging Financing-i:

    This product is offered to an authorised BSN Sijil Simpanan Premium certificate holder. The loan is secured with BSN SSP. There is no early settlement fee charged. Stamp duty charges is 0.5% of the loan amount. You will be charged a 1% fee on the outstanding amount for late payment. It is also Shariah compliant.

    RHB:

    Personal Financing-i for Civil Sector (payment by AG):

    It is exclusive for government servants. There is no early settlement fee charged. Stamp duty charges is 0.5% of the loan amount. You will be charged a 1% fee on the outstanding amount for late payment. It is also Shariah compliant. The financing tenure is from 24 – 120 months. The payment is made by AG. The collection fee is 1.7% of monthly instalment.

    Personal Financing for Civil Sector:

    It is exclusive for government servants. There is no early settlement fee charged. Stamp duty charges is 0.5% of the loan amount. You will be charged a 1% fee on the outstanding amount for late payment. It is also Shariah compliant. The financing tenure is from 24 – 120 months. The payment is made by Angkasa. The collection fee is 1.5% of monthly instalment. Additional application of credit card with the loan will be charged a flat rate of 4.5% interest per annum.

    Personal Financing-i for Civil Sector (payment by Angkasa):

    It is exclusive for government servants. There is no early settlement fee charged. Stamp duty charges is 0.5% of the loan amount. You will be charged a 1% fee on the outstanding amount for late payment. It is also Shariah compliant. The financing tenure is from 24 – 120 months. The payment is made by Angkasa. The collection fee is 1.5% of monthly instalment.

    AmIslamic – Personal Financing-i:

    It is available for government servants and employees of selected private and government linked companies. There is no early settlement fee charged. Stamp duty charges is 0.4% of the loan amount. You will be charged a 1% fee on the outstanding amount for late payment. It is also Shariah compliant. The financing tenure is from 24 – 48 months. GLC and selected private sector employees will be charged a 6.90% flat rate of interest per annum.

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