Salary Loan
A lower-rate loan for confirmed employees, with repayments timed to your payday.
- Amount
- RM 1,000 – RM 30,000
- Period
- 6 to 108 months
- Flat rate
- 4.90% – 16.00%
- Decision
- Same day as your video verification
Overview
Borrow RM1,000 to RM30,000 over 6 to 108 months, from 4.9% a year flat. Because a confirmed salary is easier for us to verify, this loan has a lower rate band than our personal loan. You repay by transfer or standing instruction — we do not use payroll deductions through your employer.
- Our lowest rate band — from 4.9% a year flat, with a lower ceiling than our personal loan
- Due date set a day or two after your payday
- Your employer is never contacted for repayments
Who it's for
- Confirmed (permanent) employees of private companies with at least 12 months in the job
- Civil servants and staff of GLCs and statutory bodies
- Employees of listed or established companies paid by bank transfer
- People who want a smaller, shorter loan at a lower rate
Probably not for you if
- Employees still on probation or on short fixed-term contracts — consider our personal loan instead
- Anyone paid in cash without bank records of their salary
- Borrowers whose existing salary deductions already take most of their pay
What people use it for
- School and university costs
- Fees, laptops and hostel deposits at the start of the term, repaid over the school year.
- Festive and wedding expenses
- Planned spending for Hari Raya, Chinese New Year, Deepavali or a family wedding, with a repayment you know in advance.
- Car repairs and road tax
- Unexpected workshop bills, insurance renewal and road tax, so you can keep getting to work.
Eligibility
- Malaysian citizen or permanent resident
- Aged 21 to 60 at the time of applying
- Confirmed employee with at least 12 months in your current job
- Net monthly salary of at least RM2,500, paid into a bank account
- No undischarged bankruptcy
- A Malaysian bank account in your own name
What to prepare for your video verification
Identity — shown on a video call, never on this website
Shown on camera, never uploaded here
- Your MyKad (or MyPR), shown on camera during the video call
- Your staff card or a letter on company letterhead, sent as a photo via our official WhatsApp
Employment and income
- Letter confirming your employment and date of confirmation
- Latest 3 months' payslips
- Latest EPF statement
Banking
- Latest 3 months' bank statements showing your salary credits
- The bank account you want the loan paid into, in your own name
Rates and fees
- Interest
- 4.90% to 16.00% a year, flat, fixed for the whole loan
- Stamp duty
- 0.5% of the loan amount, paid once to LHDN through e-stamping when you sign
- Late interest
- 8% a year on an overdue instalment only, calculated daily
- Never charged
- Processing, application, approval, insurance or agent fees
Repayment examples
Calculated at the top of the current rate band. Your offer can only be the same or lower.
| Monthly instalment | RM 290.00 |
|---|---|
| Total interest | RM 480.00 |
| Total you repay | RM 3,480.00 |
| Stamp duty (once, to LHDN) | RM 15.00 |
| Effective annual rate | 28.33% p.a. |
| Monthly instalment | RM 440.00 |
|---|---|
| Total interest | RM 2,560.00 |
| Total you repay | RM 10,560.00 |
| Stamp duty (once, to LHDN) | RM 40.00 |
| Effective annual rate | 28.22% p.a. |
| Monthly instalment | RM 822.22 |
|---|---|
| Total interest | RM 9,600.00 |
| Total you repay | RM 29,600.00 |
| Stamp duty (once, to LHDN) | RM 100.00 |
| Effective annual rate | 27.53% p.a. |
Questions about this loan
- Only to verify your employment, and only with your written consent, which we record during your video verification. We never ask your employer to deduct repayments, and we never contact them about your loan afterwards.
- No. Koperasi loans are repaid through payroll deduction (Biro Angkasa or your employer). Our salary loan is a moneylender loan that you repay yourself by transfer, so it does not use up your deduction limit.
- A confirmed salary paid into a bank account is easier to verify and more predictable, so the risk to us is lower and we pass that on in the rate.
- Yes. Tell us your payday and we set your due date one or two days after it.
- If your contract has more than 12 months left and you have been paid by the same employer for at least a year, we can consider it. Otherwise our personal loan is usually a better fit.
- Your loan continues as normal — the agreement is with you, not your employer. Just let us know your new payday so we can adjust the due date if needed.
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