Frequently Asked Questions – TEKUN Niaga Financing Scheme

Published on: 10/04/2016
Updated on: 04/05/2018

I have my own business and possess license/my own business registration but my business premise is situated at my friend’s/family premise. Am I qualified for acquiring TEKUN financing?

You must present the authorisation letter or rent agreement of the premise.

Where can I get TEKUN Nasional financing application form?

You can get Tekun Nasional financing application form from any TEKUN Nasional Regional Offices, TEKUN Business Centre, TEKUN Mobile Van or at any Expo that TEKUN Nasional participates in.

I am in the process of repaying my first financing. Can I withdraw all of my savings?

No. Your savings can be withdrawn only when your repayment has been settled, with the exception that the withdrawal is for natural disasters, medication for chronic diseases, hajj pilgrimage and to further education in local educational institutions.

I’m a taxi driver. Can I apply for the TEKUN financing to make payment for my outstanding debt balance to the taxi company?

No. Only taxi permit that is registered as individual permit only is qualified to apply for the TEKUN financing.

If my name is “blacklisted”, do I still qualify to apply for TEKUN?

Can be considered

What is the purpose of takaful insurance?

The takaful insurance is for the purpose of settling financing balance if there is death or permenant handicap caused by accident within the financing repayment period. In addition the next-of-kin will also receive funeral benefits of RM 1,000.00

What action will be taken if the borrower cannot settle the financing?

TEKUN Nasional will make claims until all payment is fully settled.

What Is the period of TEKUN financing repayment?

The repayment period is from 1 month up to 5 years.

If I wish to apply for the TEKUN financing, how much is the financing limit that I can apply?

You can apply for TEKUN financing from RM 1,000.00 up to RM 100,000.00

I have a financing balance with one financial institution totaling RM 25, 500.00. Can I still apply for TEKUN financing?

Qualified. Applicants who have business financing balance for the current business not exceeding RM 100,000.00 are qualified to apply for the TEKUN financing.

Where should I submit my application? Should it be to the branch at my housing area or to the branch where I run my business?

Applications must be submitted to the TEKUN office located in the parliamentary area where your business is conducted.

Is there any interest rate or service charge imposed on the financing provided by TEKUN?

Borrowers will be charged 4% per annum.

My wife and I have separate businesses and possess our own license. Are we qualified to apply financing separately?

Qualified.

If I moved my business to another area, can my financing repayment be transferred to the TEKUN officer at that area?

Yes. Please inform the TEKUN officer before you move.

Does TEKUN provide group financing?

Group financing is only provided to entrepreneurs involved in group project that is first approved by TEKUN Nasional