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A civil servant or GLC (Government Linked Company) personal loan in Malaysia is an unsecured financing option specially designed for civil servants or employees of the public sector. If you currently work in the private sector and/or you are an employee of a multinational company, you are not eligible to apply for this loan.
A civil servant or GLC loan usually has below market interest rates/profit rates and provides affordable financing for public sector income levels. Instead of having to repay the loan through your own banking transfer, government loans are usually auto-deducted from employee's monthly salaries. Some banks may require a letter from your employer confirming that you are a public sector employee, or that you work with a GLC.
We recommend using our free comparison tool on our website to compare the features and benefits of all civil servant / GLC loans in the market.
Once you have determined the best loan for your income and for your lifestyle needs, you may click on "Continue" if it is one of our partnering banks. After which, one of our customer service heroes will be in touch with you to help you with your application. If it is not a partnering bank, you may proceed to the bank's website to apply.
Most banks will require you to be a Malaysia Citizen or Permanent Resident, is a government servant and selected employees of government-linked companies (GKCs), at the age of 18 and above (but not over 60), with a monthly gross income of RM1,000 or more. Proof of identification, income, and residence must also be submitted to be approved for a personal loan.
CompareHero.my lets you compare Fast Approval Loans, Islamic Loans, and Civil Servant/GLC Employee loans from various Malaysian banks and lenders.
You will usually need to produce your CPF statements or pay slips dating back three months (or six months if you are self-employed).
Banks will also look at your credit rating before approving or rejecting your loan application.
Many Malaysian banks and lenders provide loans from RM10,000 up to RM200,000, depending on the borrower's credit history or rating.
Most banks and lenders set an upper limit on how much applicants can borrow, which can range from 6 to 10 times the amount of their current salary, or a fixed amount. Whichever amount is lower will be the highest amount the borrower can have.