1. Is this Coop loan applicable for people who work in the Private Sector?

    No. The coop loan is only applicable for the individuals who work for selected federal government, state government, and government link companies in Malaysia. Exception: for the Armed Forces (Uniform) is not allowed to apply for this loan.

  2. Can government employees/ servants working on a contract basis apply for this loan?

    No. To qualify for this loan, the individual must be employed on a permanent basis and has worked for at least 1 year in the employment.

  3. What is the minimum salary requirement for an individual to qualify for this loan?

    The minimum gross monthly salary (basic + fixed allowances) of RM2,000 is required to qualify for the loan. Also, there is an additional criteria that the current monthly deduction (for existing loans that the individual might have) must be less than 60% of his/ her monthly gross salary.

  4. Is there an age restriction to apply for this loan?

    An individual needs to be between 20 to 58 years old to qualify to apply for this loan.
    For individuals who are between 45 to 58 years old, and would like to apply for this loan will need to submit an Option Form to substantiate the expected retirement age in order to apply for a loan to enjoy the maximum tenor of the loan.
    For example: if you are 50 years old, and Option Form indicates that retirement age is 55 years old, the maximum loan tenor you can qualify for will be 4 years (Retirement age minus current age) – 1 year).

  5. What is the maximum loan amount and tenure of this loan?

    The maximum loan amount is RM 150,000 and the maximum loan tenor is 10 years. This is subject to the financial institution’s own discretion.

  6. Will I definitely get the amount of loan that I have requested for via the Tunai Koop app?

    Maybe, maybe not. Final loan amount approved is dependent on credit checks conducted by the financial institution providing the loan. Once the final loan amount has been approved, the financial institution will call you to inform you of the approved amount and terms of the loan.

  7. Can this loan be used to pay my existing loans or credit card debts or outstanding?

    Yes, you can. Debt consolidation is one of the ways to ease financial planning and burden. It will also simplify your repayment plans.

  8. Can I still apply for the loan if I have bad records on CTOS,CCRIS and AKPK?

    Yes, you can still apply for the loan. However, the loan will be subject to the financial institution final approval. For individuals with bad records with CTOS,CCRIS and AKPK, this coop loan is the best option to try to get a new loan, subject to approval.

  9. How do I know my referral code?

    Check out your referral code by using the menu and clicking on “Refer a friend”.

  10. When will I get my referral fees?

    Referral fees for successful loan referrals will be credited within 5 working days of the loan being credited into your referred customers’ account.