Co-opbank Pertama Lestari Personal Financing-i (Private)
Min. Interest Rate3.99% p.a.
Max. Loan AmountRM 200,000
Max. Tenure10 years
Min. Interest Rate3.99% p.a.
Max. Loan AmountRM 200,000
Max. Tenure10 years
Lestari Personal Financing-i for private sector employees
Calculate your monthly repayment
*Profit rate, monthly repayment, and total repayment amount displayed are estimates for illustrative purposes only. The actual financing terms, including the approved amount, and final profits are subject to assessment and approval by the lending party.
Fees and Charges
Profit RateAs low as 3.99% p.a.**Subject to terms and conditions
Stamp Duty
Exempted
Processing Fee
RM 100.00
Late Payment Fee
1.00% on such overdue amountPer annum
Early Termination Fee
Exempted
Eligibility
Min. IncomeRM 4,000per monthRM 48,000 per year
Who Can Apply?Malaysian citizens21 - 60 years old
Employment Status
- Private employees
Documents required to apply:You will need to provide several documents such as (varies between different banks):
Salaried Employees (Malaysian)
- Copy of Identity Card (front and back)
- Copy of latest 3 months' payslips
- EA Form (Annual Income Statement)
- Letter of Employment Confirmation
- Latest 3 months' bank statement
- Letter of service termination or retirement age (if applicable)
- Settle statement for other financing (if any)
Loan Repayment Table
| Financing Amount | Financing Tenure | Min. Income | Profit Rate |
|---|---|---|---|
| RM 5,000 - RM 200,000 | 12 - 120 months | min. RM 48,000 | 3.99% p.a. |
Features
Profit rates starting from as low as 3.99% p.a
High financing amounts up to RM200,000
No guarantor or collateral required
Shariah-compliant financing
Only for private employees
Terms and Conditions
Product Review by CompareHero
What is Co-opbank Pertama Lestari Personal Financing-i (Private)?
Co-opbank Pertama Lestari Personal Financing-i (Private) is a Shariah-compliant financing product from Co-opbank Pertama (CBP), based on the Tawarruq principle. Instead of charging interest, it uses a buying-and-selling structure to provide cash in a halal way.
Co-opbank Pertama Lestari Personal Financing-i (Private) is designed for cooperative members working in the public sector, statutory bodies, and selected public companies. The financing can be used for education, medical bills, or other personal needs.
Financing amounts go up to RM200,000, with a repayment tenure of up to 10 years.
Why choose Co-opbank Pertama Lestari Personal Financing-i (Private)?
Co-opbank Pertama Lestari Personal Financing-i (Private) comes with several features that make it accessible to cooperative members.
- No collateral or guarantor is required.
- Profit rates start from 3.99% per annum.
- Repayment tenure ranges from 1 to 10 years.
- Instalments can be repaid automatically through Biro Perkhidmatan Angkasa (BPA).
- Takaful protection is available as an option, covering the remaining balance in the event of death or Total Permanent Disability (TPD).
How much can be financed under Co-opbank Pertama Lestari Personal Financing-i (Private)?
Applicants can borrow up to RM200,000 under Co-opbank Pertama Lestari Personal Financing-i (Private), subject to their eligibility and the terms and conditions of the product.
What is the profit rate for Co-opbank Pertama Lestari Personal Financing-i (Private)?
The profit rate for Co-opbank Pertama Lestari Personal Financing-i (Private) varies depending on the repayment method chosen.
- Biro Perkhidmatan Angkasa (BPA): from 4.29% per annum
- Other payment methods: 5.00% per annum
- Private Sector (Professional) – Post-Dated Cheque, Standing Instruction, or Online Banking: from 3.99% per annum
The tenure ranges from 1 to 10 years, subject to terms and conditions.
Who can apply for Co-opbank Pertama Lestari Personal Financing-i (Private)?
Applicants must meet the following criteria:
- Must be a Malaysian citizen.
- Aged between 21 and 60, or up to the mandatory retirement age.
- Minimum gross monthly income of RM4,000.
- Must be a permanent employee of a selected private sector company, with more than 3 years of service.
Are there any other fees or charges for Co-opbank Pertama Lestari Personal Financing-i (Private)?
On top of the profit rate, the following fees apply:
- Processing fee: a one-time charge of RM100.
- Wakalah fee: RM50 per financing withdrawal, subject to SST.
- Late payment charge (Ta'widh): 1% per annum on the outstanding amount, calculated daily.
- Stamp duty: charged separately, in accordance with the Stamp Act 1949 (Revised 1989).
What documents are required for Co-opbank Pertama Lestari Personal Financing-i (Private)?
The following documents are needed to apply:
- Copy of identity card (front and back)
- Latest 3 months' payslips
- EA Form (Annual Income Statement)
- Letter of Employment Confirmation
Supporting documents:
- Latest 3 months' bank statements showing salary credit
- Letter of service termination or retirement age, if applicable
- Settlement statement for other financing, if any
Supporting documents must be submitted before the offer letter and agreement for Co-opbank Pertama Lestari Personal Financing-i (Private) are signed. If they aren't provided in time, the approved financing amount will be adjusted based on the documents already received.
Frequently Asked Questions (FAQ)
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)