The following frequently asked questions are common among those contemplating University Malaya (UM). This page provides answers to these questions and provides links to useful UM websites that provide additional answers.
The basic eligibility requirements for an officer to qualify for a vehicle loan are;
1. Purchasing a vehicle that is authorized based on their eligibility and means.
2. Requires a vehicle to perform their official duties efficiently.
3. The monthly instalment amount deduction is limited to one-third of the basic salary.
4. Total monthly deductions, including vehicle financing, do not exceed 60% of the basic salary and monthly allowance.
5. Require 2 guarantors among UM staff
6. In possession of a valid driver’s license.
The maximum eligibility limit for a vehicle loan is according to the following categories;
|Basic Salary||Maximum Eligibility (RM)|
|a) Exceeding RM10,000.00||130,000.00|
|b) RM5,000.01 to RM10,000.00||100,000.00|
|c) RM1,620.00 to RM5,000.00||85,000.00|
(ii) Motorcycle: Maximum RM 15,000.00
Second/subsequent vehicle loans to the officer are allowed after five (5) years from the approval date, provided that the existing loan has been fully settled.
However, if the vehicle purchased previously is no longer economically viable, the staff can still submit an application. Such an application must be accompanied by supporting documentation such as photographs, insurance documents, police reports, and so on.
|Type of Vehicle||Period|
|a) New Car||Not exceeding 108 months|
|b) Used Car||Not exceeding 96 months*|
|c) New Motorcycle||Not exceeding 60 months|
|d) Used Motorcycle||Not exceeding 48 months*|
* Subject to the JKR’s appraisal
(i) Copy of Vehicle Registration Certificate
(ii) Proof of payment/receipt for the cancellation fees. The charges is RM2.00 for the motorcycle and RM3.00 for the car.
(i) Obtain confirmation of the financing balance with Payment Section, Financial Services Department, Bursary.
(ii) The borrower will then be required to make full payment based on the verified balance and adhere to the specified date period via E-pay (https://epay.um.edu.my/).
(iii) Submit original copies of bank-in slips or proof of payment to the Payment Section, Financial Services Department, Bursary.
Last Update: 22/05/2023