KOBETA Cash-i
Islamic personal financing up to RM250,000 with no guarantor needed and rebate for early settlement.
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Fees and Charges
Eligibility
- Government employee
- Statutory Body employee
- Government-Linked Company employee
- DBKL employee
- Three copies of your IC (both sides)
- Latest 3 months salary slip
- Original utility bill receipts such as electricity, water bills, etc.
- Letter of employment or employer confirmation
- Statement of Outstanding Completion (if any)
Loan Repayment Table
| Financing Amount | Financing Tenure | Min. Income | Profit Rate |
|---|---|---|---|
| RM 2,000 - RM 250,000 | 24 - 120 months | min. RM 18,000 | 6.90% p.a. - 6.90% p.a. |
Product Review by CompareHero
KOBETA Cash-i: Personal Financing for Government Employees
KOBETA Cash-i is a Shariah-compliant personal financing facility offered by Koperasi Bersatu Tenaga Malaysia Berhad (KOBETA), a cooperative registered under Akta Koperasi 1993 with more than 20,000 members. Beyond financial products, KOBETA also runs hospitality and charity-related services for its members, so signing up for Cash-i brings applicants into this wider cooperative community rather than just a single loan relationship.
The financing is limited to permanent government employees, covering staff in the Government (Civil Service), Statutory Bodies, Government-Linked Companies, and DBKL. This makes it a fairly specific product compared to bank personal loans, which are usually open to any working Malaysian who meets the income requirement.
Loan Amount and Profit Rate
Applicants can borrow between RM2,000 and RM250,000, with a repayment period of 2 to 10 years. That 10-year maximum tenure is on the longer end for personal financing in Malaysia, which gives applicants more room to spread out repayments and keep monthly instalments manageable, particularly for larger amounts closer to the RM250,000 ceiling.
The profit rate is fixed at 6.90% per annum for the entire tenure, calculated on a flat basis. Because it's a flat rate rather than a reducing-balance rate, the profit is calculated on the full original financing amount for the whole tenure, not on the shrinking balance as the financing gets paid down. This means the actual cost of borrowing, expressed as an effective rate, works out higher than 6.90% once compounding is factored in.
Applicants with a weaker credit history may still qualify, though the financing amount in these cases is capped at RM20,000, well below the standard RM250,000 limit. This gives some flexibility for applicants who don't have a spotless repayment record, though it does come with a much smaller borrowing ceiling.
Costs Involved If You Apply For KOBETA Cash-i
Aside from the profit rate, the main cost is stamp duty, charged at 0.5% of the total financing amount. Beyond that, KOBETA Cash-i keeps its fee structure fairly minimal: there's no processing fee, no early termination fee, and no late penalty fee. This is worth noting since many other personal financing products, including some Islamic products from banks, do charge a fee for settling early or a penalty for missed payments.
No Guarantor Needed
Unlike many financing products, KOBETA Cash-i doesn't require a guarantor. Applicants who settle their financing ahead of schedule also receive a rebate on the remaining profit charges, so paying off the loan early doesn't come with a penalty. Combined with the lack of an early termination fee, this makes KOBETA Cash-i relatively flexible for applicants who might come into extra funds later and want to clear their financing faster than originally planned.
Repayment Method
Monthly instalments are deducted directly from the applicant's salary through Biro Perkhidmatan Angkasa (BPA), capped at 60% of monthly income. This salary-deduction structure is standard for civil servant financing products in Malaysia, and it means repayments happen automatically each month without the applicant needing to set up a separate standing instruction or make a manual transfer.
Who Qualifies To Apply For KOBETA Cash-i
To apply, an applicant needs to:
- Be a Malaysian citizen
- Be aged between 21 and 59
- Be a permanent government staff member with more than 6 months of service
- Earn a minimum monthly income of RM1,500
Since eligibility is restricted to government-linked employment categories, applicants working in the private sector or as self-employed individuals won't qualify for this particular product, regardless of income level.
Documents to Prepare
Applicants should have the following ready before applying:
- 3 copies of MyKad (front and back)
- Latest 3 months' validated salary slips
- Statement of Outstanding Completion, if applicable
- Confirmation of Employment letter on company letterhead
- A copy of a utility bill (electricity, water, maintenance, etc.)
Non-AG applicants need to submit the original copy of their salary slip, while DBKL employees need to obtain an Emolument Form from the Salary Department before applying. Since documentation requirements differ slightly depending on the applicant's specific employer category, it's worth confirming which version applies before submitting the application, to avoid delays from missing paperwork.