frequently asked questions
Got questions? This way.
Everything you need to know about GW
General questions:
A licensed moneylender is authorized by the Ministry of Local Government Development (KPKT) under the Moneylenders Act 1951. Each licensed moneylender holds a valid license showing the company name, address, license number, and validity period.
- Unsecured loans: Maximum 18% p.a.
- Secured loans: Maximum 12% p.a.
These limits are set under the Moneylenders Act 1951.
Loan eligibility depends on your income, existing debt, and credit history.
- Maximum loan amount: Up to RM20,000 (some may offer higher amounts with collateral)
- Loan tenure: Flexible, from 1 to 4 years
You can use our personal loan calculator to estimate your monthly instalment.
No. Licensed moneylenders on the GW platform do not require your ATM card when applying for a personal loan.
The minimum loan tenure is 6 months and the maximum loan tenure is 60 months (5 years)
* Subject are depends on individual credit scoring evaluation.
Loan for Private Sector :
Private Sector Loan Application Guide
Applying for a loan is quick and simple, with just 3 easy steps:
Step 1: Submit Your Online Application
Complete our short online form with your personal details, preferred loan amount, and repayment period. Then, choose a lender that best suits your needs.
Step 2: Verification by the Lender
The selected lender will contact you via phone or email to perform a credit check and verify your eligibility.
Step 3: Document Submission & Agreement Signing
After successful verification, submit the required documents (such as NRIC, payslips, bank statements, EPF/tax documents, and utility bills). You will then proceed to the lender’s office to sign the agreement.
Your loan can be used for a wide range of purposes, including:
- Settling credit card balances
- Consolidating existing debts
- Home renovation
- Wedding expenses
- Starting or expanding a business
- Medical or hospital bills
- Education or courses
- Car financing
- Major purchases
- Travel or vacation
The loan amount and repayment period depend on the lender you choose. Generally, you can apply for up to RM20,000, with flexible repayment terms ranging from 6 months to 3 years.
Yes, the minimum loan amount is RM1,000.
No. All lenders we work with will never request or hold your ATM card.
Borrower Eligibility
You may qualify if you meet the following criteria:
- Malaysian citizen aged 20 to 60 years old
- Employed for at least 3 months
- Minimum monthly income:
- RM1,500 (Semenanjung Malaysia)
- RM1,200 (Sabah & Sarawak)
- Not declared bankrupt
- No serious records under CCRIS (for selected lenders)
- Able to afford monthly repayments
You will need to provide:
- NRIC copy (front and back)
- Latest 3 months payslips
- Latest 3 months bank statements (salary credited)
- EPF statement or Tax Declaration (BE Form)
- Utility bill (e.g. electricity or water bill)
Verification & Disbursement
Loan approval can be as fast as within 1 working day, depending on the completeness of your documents and information.
No. Only your personal income will be considered. However, some lenders may allow a guarantor to improve approval chances.
Rates & Fees
No. There are no upfront or processing fees charged to borrowers.
Interest rates typically range from:
- 12% per annum (with collateral)
- 18% per annum (without collateral)
Yes. A 0.5% stamp duty is charged based on the loan amount.
No. There is no advance instalment required.
Late payments will incur a late payment fee, as stated in your loan agreement.
Late payments will incur a late payment fee, as stated in your loan agreement.
Repayment
You can make monthly repayments through:
- Interbank GIRO (IBG)
- Cash deposit
- Cheque deposit
- MEPS ATM transfer
Yes. You can settle your loan early without any penalty or extra charges.
Loan for Civil Servants
Applying for a Loan
Our loan application process is fast and hassle-free. Within just a few minutes, you can check your eligibility and receive an indicative rate.
You’ll need to provide basic personal details such as your employment information, monthly income, existing commitments, and education background.
Only if you are satisfied with the offered rate and wish to proceed, you will then be required to submit supporting documents for a formal application.
Please ensure all information provided is accurate, as it will be verified during the process.
You may use your loan for almost any legal purpose, including:
- Debt consolidation
- Credit card settlement
- Business startup or expansion
- Medical or hospital expenses
- Education or further studies
- Major purchases
- Car financing
- Home improvement
- Travel or vacation
- Wedding expenses
Depending on the financing provider, you can borrow up to RM250,000, with flexible repayment terms ranging from 1 to 10 years.
The approved loan amount depends on your credit profile, financial situation, and current commitments.
Yes, the minimum loan amount is RM3,000. For Public Islamic Bank financing, the minimum loan amount is RM5,000.
Once your application has been submitted, you will not be able to make any changes directly. Please ensure all information is accurate before submission.
If you need to amend your loan amount, financing tenure, or personal details, kindly contact us via email
If you wish to cancel your loan application, please email us
Borrower Eligibility
You may qualify if you meet the following criteria:
- Malaysian citizen aged 20 to 58 years old
- Currently employed as a civil servant
- Minimum 6 months of service
- Minimum monthly income of RM1,500
- Not declared bankrupt
- Able to afford monthly repayments
To proceed with your application, you will need:
- NRIC copy (front and back)
- Latest 3 months certified payslips
- Employment confirmation letter
- Latest bank statement (salary credited)
- Utility bill (required for selected koperasi loans only)
Verification & Disbursement
Loan disbursement may take between 2 working days to 2 weeks, depending on the financing provider and completeness of your documents.
- Some providers may release funds as fast as 2 working days after successful verification
- Others may take 1–2 weeks for processing and approval
Please note that processing time may vary and is not guaranteed.
Included as income:
- Fixed public service salary
- Housing allowance
- Cost of living allowance
- Entertainment allowance
- Financial duty allowance
- Education-related allowance
- Special teaching incentives
Not included as income:
- Overtime pay
- Arrears payments
- Uniform allowance
- Warden allowance
No. Only your personal income will be considered for this loan.
Rates & Fees
No. There are no upfront or processing fees charged to borrowers.
The profit rate is determined by the financing provider based on your credit profile and financial behaviour.
Indicative rates include:
- Lower rates for higher income brackets
- Different rates depending on loan amount and tenure
- Rates typically range depending on the provider and package
The exact rate will be clearly disclosed before you accept the loan.
The final disbursed amount depends on your approved financing and may include deductions such as:
- Stamp duty
- Insurance (if applicable)
- Administrative charges
- Advance instalments (for selected providers)
Payout percentages vary by provider but will be clearly explained before acceptance.
Yes, for certain financing providers:
- Some require 1 month advance payment
- Others may require 2–3 months, which will be deducted from your loan amount
Late payments will incur late payment charges as stated in your financing agreement.
Repayment
Repayments are made monthly through automatic salary deductions, processed via:
- Accountant General’s Department
- ANGKASA (Angkatan Koperasi Kebangsaan Malaysia Berhad)
Yes, early settlement is allowed.
Financing providers may, at their discretion, offer a rebate (ibra’) for early repayment.
Auto Service Financing
LK Solution’s Auto Service Financing (Service Car Now, Pay Later) is a Shariah-compliant, unsecured financing facility designed specifically for vehicle servicing and repair expenses.
The approved financing amount will be paid directly to the workshop partner under LK Solution’s designated service platform network. The facility is based on a fixed profit rate, resulting in fixed monthly instalments throughout the selected financing tenure.
With this facility, you can repair or service your vehicle immediately and spread your payments over instalments of up to 12 months.
This financing facility is based on the Shariah concept of Commodity Murabahah via Tawarruq. It involves a sale and purchase arrangement between LK Solution and the customer, where a Shariah-compliant commodity is used as the underlying asset for the transaction.
Under this arrangement, the commodity is bought and sold in accordance with Shariah principles to facilitate the disbursement of funds under the financing facility.
Besides providing your basic personal information, you will only need to prepare the following documents:
- A photo of your NRIC (front and back)
- Bank statements for the last 3 months (main account used to receive your income, such as salary)
You may also refer to our guide on how to download your bank statements.
This financing is available to Malaysian citizens aged between 18 and 65 years old. Applicants must also have an active bank account. Please note that having a credit card is not required.
You can receive your pre-qualification results within seconds based on your credit profile. Once you have submitted all required documents, the final approval decision and approved amount can be received in as fast as 15 minutes during working hours.
Once you receive pre-approval, you may use the facility within 1 month.
After understanding your instalment amount, you can plan ahead and book an appointment or visit any participating workshop under the programme.
You may also apply directly at the workshop if you find that you need additional funding for your car repair. In such cases, pre-approval results can be provided in as fast as 15 minutes during working hours.
The profit rate is 1.5% per month. There are no processing fees for this financing.
The financing amount ranges from a minimum of RM300 up to a maximum of RM5,000. The repayment period is available from 3 to 12 months.
No physical visit is required. The contract will be completed digitally via your mobile phone after the service is done and once you choose to use your pre-approved facility.
After signing the financing agreement on LK Solution’s platform, you will set up an eMandate for auto-debit from your bank account with a licensed financial institution in Malaysia.
Your monthly instalments will then be automatically deducted from your account on the same date each month throughout the financing tenure.
If you miss or delay any monthly instalment or other payable amount, a late payment charge of 8% per annum will be applied. This consists of a 1% compensation (Ta’widh) and a 7% penalty (Gharamah), which will be channelled to charitable organisations.
The late payment charge is not compounded.
You may make an early settlement before the end of the instalment tenure by providing LK Solution with one week’s prior written notice.
An early settlement rebate will be given on the remaining deferred profit.
Please complete the simple registration form, and our team will get in touch with you within 1 working day.
Car Takaful Instalment Plan
Applying for a Loan
LK Solution’s Car Takaful Instalment Plan (Renew Now, Pay Later) is a Shariah-compliant, unsecured financing facility designed specifically for car takaful renewal.
The approved amount will be paid directly to the participating takaful provider where your policy is renewed, provided the provider is part of LK Solution’s designated partner network.
The facility is based on a fixed profit rate, resulting in fixed monthly instalments throughout the selected tenure. This allows you to renew your car takaful immediately and repay the cost over instalments of up to 12 months.
This financing is based on the Shariah concept of Commodity Murabahah via Tawarruq. It involves a buy-and-sell arrangement between LK Solution and the customer, where a Shariah-compliant commodity is identified and used as the underlying asset for the transaction.
The structured sale and purchase process is carried out to facilitate the disbursement of funds under the financing facility in accordance with Shariah principles.
In addition to providing your basic personal details, you will only need to submit the following:
- A photo of your NRIC (front and back)
- Bank statements for the past 3 months (main account where your income, such as salary, is credited)
You may also refer to our guide on how to download your bank statements here.
This financing is open to Malaysian citizens aged between 18 and 65 years old. Applicants must have an active bank account. Please note that a credit card is not required.
You can receive your pre-qualification results within seconds based on your credit profile. After submitting all required documents, the final approval result and approved amount can be obtained in as fast as 15 minutes during working hours.
Once you receive pre-approval, you may use the facility within 2 weeks.
After understanding your estimated instalment amount, you can plan ahead and obtain a quotation from any participating car takaful provider under the programme.
You may also apply directly at the car takaful provider if you find that you require additional funding for your takaful renewal. In such cases, pre-approval results can be provided in as fast as 15 minutes during working
The profit rate is 1.5% per month. There are no processing fees charged for this financing.
No, you do not need to visit the office. The agreement will be completed digitally via your mobile phone after the service is completed and once you choose to proceed with the approved facility.
No, this facility does not require any guarantor or collateral.
LK Solution will disburse the approved financing amount directly to the car takaful provider within 3 days after the financing agreement is signed.
If the approved amount is insufficient to fully cover your takaful quotation, you will need to pay the remaining balance directly to the takaful provider before the policy can be issued.
Before signing the financing agreement on LK Solution’s platform, you will set up an eMandate to enable auto-debit from your bank account with a licensed financial institution in Malaysia.
Your monthly instalments will then be automatically deducted from your account on the due dates stated in the financing agreement.
If you fail to pay any monthly instalment or other payable amount by the due date, a late payment charge of 8% per annum will apply. This consists of a 1% compensation (Ta’widh) and a 7% penalty (Gharamah), which will be channelled to charitable organisations.
The late payment charge will not be compounded.
You may make an early settlement before the end of the instalment tenure by providing LK Solution with one week’s prior written notice.
A rebate on the remaining deferred profit may be granted for early settlement.
Please complete the simple form, and our team will contact you within 1 working day.
SME Micro Financing
This is a micro financing product designed to support SMEs by providing access to credit for business expansion and working capital needs.
The SME Micro Loan / Financing (Islamic or Conventional) is offered by LK Solution’s licensed financing partners. Applying through LK Solution is completely free, and no upfront payment or deposit is required.
You may choose between Islamic or conventional financing options based on your preference.
The application is completely free, and no upfront payment or deposit is required.
A 10% processing fee (inclusive of stamp duty and guarantee fee) will be deducted from the loan or financing amount upon disbursement.
The amount you are eligible to apply for depends on factors such as your business income, existing debt commitments, and credit history.
The financing amount can go up to RM200,000, with flexible repayment terms ranging from 6 to 18 months.
To be eligible, you must have a business registered with SSM under one of the following categories:
- Sole proprietorship
- Partnership / Limited Liability Partnership (LLP)
- Private Limited Company (Sdn. Bhd.)
Additional requirements include:
- Minimum 6 months in business operations
- Minimum monthly business income or revenue of RM5,000
- No outstanding legal actions
- Not declared bankrupt
Important note:
Conventional SME Micro Loan / Financing is only applicable for businesses involved in the following activities:
- Alcohol
- Gambling
- Pornography
- Tobacco and dangerous drugs
- Entertainment-related businesses (e.g. karaoke lounges serving alcohol, certain film production houses, cinemas screening entertainment content)
- Pork and pork by-products
- Non-permissible food under Islamic teachings (e.g. frogs, snakes, crocodiles)
- Non-Shariah compliant massage centres (opposite gender services)
- Prostitution
- Interest-based lending (including credit sales with interest charges)
- Conventional insurance and unit trust agencies
- Production or distribution of idols, statues, and places of worship other than Allah
Compulsory documents:
- Copy of NRIC (front and back):
- Sole proprietorship: owner
- Partnership / LLP: all partners
- Sdn. Bhd.: all directors
- Latest 6 months bank statements (must be original PDF copy; scanned, screenshot, or photo copies are not accepted)
Optional documents:
- Business license
- Latest 2 years of personal income tax assessment
No collateral or guarantor is required. This is an unsecured financing facility, which means you do not need to pledge any assets to apply.
You will receive an approval decision within 3–4 working days after submitting all complete documents. Once the agreement is signed online, the financing will be disbursed within 2 working days.
While every effort is made to meet these timelines, processing time may vary depending on circumstances, including the completeness and accuracy of the information provided by the applicant.
Islamic SME Micro Financing
Yes, early settlement is allowed.
Conventional SME Micro Loan / Financing
Yes, early repayment is allowed; however, a 2% early settlement fee will be charged on the remaining principal amount.
Islamic SME Micro Financing
If you are late in your repayments, the following charges will apply:
- Up to 10% per annum late payment charges on the overdue amount
- This consists of 1% per annum compensation (Ta’widh) and 9% per annum penalty (Gharamah)
- The charges are not compounded
Conventional SME Micro Loan / Financing
If you are late in your repayments, the following charges will apply:
- Late penalty fee: RM200 per repayment cycle
- Late interest fee: 0.1% per day on the outstanding amount (non-compounded)