23.01.2026

GOpinjam Loan

GOpinjam Loan

The GOpinjam loan is a digital personal loan product offered through the Touch 'n Go (TNG) eWallet application. It provides users with the convenience of applying for small financing (RM100 to RM10,000) without needing to visit a bank branch; everything is done through a smartphone. Launched in 2022, GOpinjam is the result of a collaboration between TNG and CIMB Bank Berhad, targeting low to middle-income groups who have difficulty accessing traditional bank loans. This loan is supported by CIMB’s e-Zi Tunai product and regulated by Bank Negara Malaysia (BNM).

Although GOpinjam emerged as part of the fintech boom in Malaysia, this product is still considered new, and there is debate about its high interest rates. The question is: Does GOpinjam truly help users, or does it merely facilitate short-term debt? This article will discuss the eligibility requirements, advantages and disadvantages, application process, interest rates, risks, and compare GOpinjam with traditional loans and other digital loans. The latest data and trends for 2026 will also be highlighted to help readers make informed decisions.

Eligibility Requirements for GOpinjam Loan

GOpinjam targets Malaysian citizens aged between 21 and 63 years. Applicants must have a minimum monthly income of RM800, making it more accessible compared to most bank loans that require a minimum of RM1,500 to RM3,000. Additionally, applicants need to:

  • Have a verified TNG eWallet account.
  • Undergo e-KYC procedures and upload income documents such as a monthly payslip, three-month EPF statement, or e-filing tax receipt. This indicates that, although this loan is digital, income proof is still required.
  • Use the TNG app to apply; the first application requires basic information and supporting documents, while repeat applicants only need to confirm existing information.

Applications are subject to a credit bureau check (e.g., CTOS/CCRIS) to ensure the borrower is capable and meets the prudential debt service ratio. This screening emphasizes that while GOpinjam is easy, it still adheres to responsible lending guidelines. Applicants with a good payment history may enjoy lower interest rates on subsequent applications.

Advantages and Disadvantages of GOpinjam Loan

Advantages

  1. Quick and easy access – The entire application process is done within the TNG eWallet app. Applicants select the amount and duration, upload documents, and receive an approval notification within approximately three business days. Funds are directly transferred to the eWallet or CIMB account of the borrower, allowing for immediate use.
  2. No processing fees – Unlike some bank loans or credit companies, GOpinjam does not charge processing or stamp fees. Borrowers can also repay the loan early without penalty.
  3. Flexible loan amounts – Borrowers can apply for amounts ranging from RM100 to RM10,000 depending on eligibility. This is suitable for small emergencies such as car repairs or medical expenses. In fact, TNG allows multiple concurrent loans as long as the total amount does not exceed RM10,000.
  4. Financial inclusion – With a low minimum income requirement, GOpinjam helps low-income groups (B40) and gig workers who are typically excluded from bank loans. Unlike bank loans that require higher income, GOpinjam offers an easy alternative.
  5. Practical example – Imagine a warehouse worker earning RM1,200 per month needing RM800 to repair his motorcycle. With GOpinjam, he can choose a three-month term and receive the funds in his eWallet. If he manages his budget carefully, this small loan enables him to return to work without resorting to illegal loan sharks.

Disadvantages

  1. High interest rates – GOpinjam charges a fixed interest rate between 8% and 36% per year. According to TNG's statement, the 36% rate is only applied to loans with terms under three months, but it is still high compared to bank loans (3.99%–9.99% p.a.) or credit card installment loans (around 6.88% p.a.). Interest rates depend on the loan amount, duration, and applicant's credit level.
  2. Risk of debt burden – The financial situation of the B40 group may be fragile. Easy loans can encourage impulsive spending, especially since the small loan limits feel "unburdensome". EMIR Research points out that the 36% annual rate is almost equal to rates offered by loan sharks and could increase the burden on low-income groups. Therefore, borrowers should assess their repayment ability before applying.
  3. Not Shariah-compliant (as of 2026) – This product is not Shariah-compliant; TNG has expressed the intention to launch an Islamic financing product, but as of 2026, it has not been officially announced.
  4. Limited credit implications – Although a credit check is performed, there is discussion that loans through GOpinjam may not be reported in CCRIS. This means timely payments may not improve the applicant's credit score. However, failure to pay could still lead to enforcement actions.
  5. Comparison with Amanahkredit – If you only need immediate cash, there are alternatives such as Amanahkredit. This company offers loans up to RM5,000 through a simple online process, with only three application steps and legal protection. They require basic income proof and process applications within a few hours.

Overall, GOpinjam is suitable for immediate needs, but the high interest rate demands financial discipline. Make sure to assess your real needs, compare costs, and consider alternatives like building an emergency fund or using other microloans.

GOpinjam Loan Application Process

The GOpinjam application is done entirely through the TNG eWallet app. Here are the general steps:

  1. Open the TNG app and select GOpinjam – After logging in, the applicant clicks on the "GOpinjam" tile on the main page.
  2. Set loan amount and term – Select an amount between RM100 and RM10,000 and a term ranging from one week to 12 months. The app will show conditional limits based on income, credit score, and other factors.
  3. Enter personal information – Enter name, address, income, and contact details. Complete e-KYC by scanning ID card and face.
  4. Upload documents – Upload a monthly payslip, three-month EPF statement, or e-filing tax receipt.
  5. Review and submit – Ensure the information is accurate before submitting the application. The evaluation process considers credit history and debt service ratio.
  6. Receive the decision – Within three business days, the applicant receives a notification. If approved, the applicant needs to enter their eWallet PIN to receive the funds.

Application Steps Through Touch 'n Go App

This section provides a detailed overview for users who have never applied for a digital loan:

  1. Log in and update the app – Ensure the TNG app is up to date to access the GOpinjam feature. Make sure your account has gone through the e-KYC process.
  2. Find the GOpinjam icon – On the main page, you will see the GOpinjam tile; click to proceed. The app will display several options: loan amount, term, and estimated monthly installment.
  3. Enter the amount and term – You can type in the desired amount or use the scroll. The term options range from 1 week to 12 months. For example, if you choose RM1,000 for six months, the app displays the monthly installment and interest amount.
  4. Enter information – The app will request personal details. Make sure the phone number and email address are correct.
  5. Upload documents – Take a clear picture of your payslip or EPF statement. Ensure the image is clear so the application is not rejected.
  6. Verify information and submit – The system will check the information. You will receive a notification when the application is processed. Some users report immediate approval; however, the normal time frame is around three business days.
  7. Receive the funds – Once approved, the funds are transferred to your eWallet or bank account. You can use it for cashless payments or transfer it to the bank via DuitNow.

Make sure you read the terms and conditions before agreeing. Don’t be tempted to apply for the maximum amount; choose an amount you can afford to repay.

Credit History’s Effect on Approval

Like other loans, credit history affects the approval and interest rates of GOpinjam. Touch 'n Go states that all applicants are subject to a credit bureau check to ensure affordability and compliance with the debt service ratio. They use credit data to assess risk; this means:

  • Applicants with good payment history – Have a higher chance of getting approved and enjoying lower interest rates. TNG also offers lower rates to customers who paid on time for previous loans.
  • Applicants with low credit scores – Are at risk of being charged higher interest rates or conditional approval. According to TNG, the highest rate of 36% p.a. is only applied to loans with terms under three months and depends on the risk assessment. However, financial experts emphasize that this rate is very high compared to the maximum 18% allowed for licensed lenders.
  • Multiple applications – Applying for several loans at once can affect your credit score because the system sees it as a risk sign. If you need RM500 urgently, phrases like 500 loan immediately using IC are often used, but applicants should be aware that applying for several small loans at once can affect future approval.

To maintain your credit, applicants should pay off debt on time, keep credit card balances low, and avoid unnecessary credit applications.

Interest Rates and Costs of GOpinjam Loan

The interest rate for GOpinjam loans is a flat rate and depends on the loan amount, term, and credit score. Here are the details:

  • Interest rate range – TNG reports interest rates between 8% and 36% per year. The highest rate of 36% p.a. applies only to loans with terms of less than three months. For longer loans, the rate is lower. For example, RinggitPlus reports that borrowers with an income of RM4,800 may choose terms of 3 to 12 months with rates ranging from 8% to 30% p.a., depending on the profile.
  • Actual cost – There are no processing fees or stamp duties, but the flat interest rate means you pay interest based on the original loan amount, not the reducing balance. For example, a RM2,000 loan at 18% p.a. for 6 months would result in an interest of around RM180 (RM2,000 × 18% × 6/12), or RM30 per month. This is higher than bank loans with effective interest rates that calculate on the reducing balance.
  • Comparison with other products – Vulcan Post compares GOpinjam with other products: credit cards have rates around 15% p.a. with a minimum salary requirement of RM2,000; traditional bank loans range from 3.99% to 9.99% p.a. with a minimum salary requirement of RM1,500. Credit card installment loans start at 6.88% p.a. This shows GOpinjam is more expensive but provides access to low-income applicants.
  • Practical example – If you need RM1,000 for an emergency and choose a three-month term, a 24% p.a. rate would result in RM60 in interest; the monthly installment would be around RM353. Make sure to plan your budget so that the installment doesn’t affect your daily expenses.

Risks and Consequences of Late Payment

GOpinjam loans come with several risks that need to be understood:

  1. Late fees – If borrowers fail to make payments on time, TNG charges a late fee of 1% on the outstanding installment amount. Additionally, the company may use the balance in the eWallet to settle the outstanding amount.
  2. Credit impact – While some say GOpinjam does not affect CCRIS, failure to pay can still be recorded and affect credit scores with other agencies. This can affect future loan opportunities.
  3. Debt collection – Debt collectors may contact you if payments are overdue. Under Malaysian law, licensed lenders must adhere to collection ethics, but users should be prepared for disruptions.
  4. Financial burden – High interest and late fees can double the debt. If you are struggling to pay, contact the loan provider to discuss rescheduling or seek financial counseling.
  5. Practical advice – To avoid late payments, set up automatic reminders in your eWallet or calendar. Pay installments as soon as you receive income. Set aside emergency funds before borrowing; if you plan your expenses, you may not need to apply for an urgent loan.

Comparison of GOpinjam with Traditional and Other Digital Loans

Traditional Bank Loans

Bank loans, such as those from Alliance Bank or Maybank, offer larger financing amounts (up to RM150,000) with repayment terms up to 5 years. Interest rates are typically between 3.99% and 9.99% p.a., depending on the loan amount and term. However, the minimum income requirement is higher (as low as RM1,500 to RM3,000), and the approval process takes several days to weeks. Bank loans may charge processing fees and early settlement penalties.

Credit Cards and Installments

Credit cards provide cash advances with rates around 8.88% to 15% p.a. and monthly installments. While credit cards are easy to use, the interest is calculated daily and can increase if you don’t pay in full. Additionally, installment programs (EPP) offer 0% rates for item purchases but do not provide cash. If you need cash, the GOpinjam loan may be faster; however, credit cards are suitable for purchasing specific items.

Other Digital Loans

Malaysia is seeing rapid growth in the digital loan and alternative financing sector. According to Fintech News Malaysia, the peer-to-peer (P2P) financing industry in Malaysia has raised a cumulative RM7.9 billion as of September 30, 2024 – a 32% increase from 2022. This shows the growing interest in digital financing accessible to SMEs. Although P2P focuses on businesses, it reflects the trend that alternatives to bank loans are becoming more popular. BNPL (Buy Now, Pay Later) products like SpayLater and Atome are also growing, but most of them are for short-tenor item purchases.

In addition, microloan companies like Amanahkredit offer loans up to RM5,000 through a simple online application process. Applications require applicants to be over 21, have stable income, an ID card, and a bank account. Approvals are processed within a few hours, providing a fast alternative to GOpinjam. However, like most microloans, the interest rates may be high, and users should assess the terms.

Conclusion

For middle-aged individuals managing careers, families, and financial commitments, GOpinjam offers quick access to small loans without the bureaucracy. The more relaxed eligibility requirements (ages 21 to 63 and a minimum income of RM800) allow many to take advantage of this opportunity. However, the high interest rates (8% to 36% p.a.) require careful financial management.

Use GOpinjam wisely: only for emergencies or short-term investments with clear benefits. Consider building an emergency fund, learning financial literacy, and comparing loan options before making a decision. Make timely payments to protect your credit history and avoid late fees. In the rapidly growing digital age, financial literacy is key; easy loans like GOpinjam are merely tools – their effectiveness and risks depend on how you use them.