Bank Islam Floating Rate Personal Financing-i Package

MOHON DISINI !!!

Bank Islam Floating Rate Personal Financing-i Package
Get your needed cash financing up to RM200000 with Bank Islam that doesn't require guarantor and upfront deposit!
Financing up to RM200kUp to 10 years tenureUnsecured Islamic FinancingTakaful insurance required

Interest Rates
How much the bank charges you based on your loan amount & loan period

Financing Value Financing Period Your Income Profit Rate
RM10000 - RM200000 12 to 36 months min. RM24000 5.7% p.a.
RM10000 - RM200000 48 to 120 months min. RM24000 6.6% p.a.
Fees & Charges
There are always fees but how much are they?

Profit Rate / APRfrom 5.7% p.a. to 6.6% p.a. , depending on financing amount and periodProcessing FeeNo FeeLate Payment Charge1% from current outstanding amount on the outstanding amount of the monthly paymentMode of PaymentYou must pay your financing installment by salary deduction.InsuranceYou must take takaful insurance with this financing.
Requirements
Are you eligible for this personal financing?

Minimum annual incomeRM24000Minimum age18 years oldMaximum age58 years oldWho can Apply
Malaysians
Government employee
Government-Linked Company employee
Public Listed Company employee

Frequently Asked Questions about Bank Islam Floating Rate Personal Financing-i Package
Things you might want to know

Who is eligible for Bank Islam’s Personal Financing-i Package?
Only Government employees, employees of Government Linked Companies and Public Listed Companies employees can apply for this product.

How much money can I borrow?
Applicants may borrow from RM10,000 to a maximum of RM200,000. Repayment terms are up to 10 years (or age of retirement, whichever is earlier). The outcome of a credit check will determine the maximum credit limit for your borrowing.

How much does Bank Islam Personal Financing-i package cost?
There are no processing fees, only a Wakalah (Agency) fee of RM50. Applicants will also be required to pay Government Stamp Duty, which is calculated at 0.5% of the total amount borrowed.

What do I need to apply for the Bank Islam Personal Financing-i package?
The package is an unsecured personal loan so you will not need to provide a guarantor, deposit or other security. To make an application you will be asked to provide supporting documents:

Copy of MyKad (front and back)

Last three month’s payment slips

Last three month’s bank savings account passbook or current/savings account statement

Letter of designation from your Head of Department

EPF statements or latest income statement

How do I get my hands on the money?
The application process may take a few business days to complete. Once your application has been approved the borrowed money will be transferred to the account of your choice.

How do I pay the money back?
Loan repayments will be scheduled monthly as and when you make your loan application. Payments must be made by Salary Deduction, Salary Transfer with Auto Fund Transfer, or Standing Instruction.

If you do not make your payments on time Bank Islam will have the right to charge Ta’widh (compensation) during the loan tenure with a 1% per annum late payment fee.

Can I pay my Bank Islam Personal Financing-i loan off early?
Yes, you may settle your loan before is due by paying the total amount owing. You will be entitled to an Ibra’ (rebate) which is equivalent to the remaining profit at the time of settlement. No penalty fees are charged for early repayment.

Is this Bank Islam Personal Finance product Syariah compliant?
Yes, the Syariah concept used is Tawarruq which comprises of Bai Murabahah and Wakalah contracts.