Bank Islam Personal Financing-i Medical Practitioner

MOHON DISINI !!!

Bank Islam Personal Financing-i Medical Practitioner
An unsecured Islamic personal loan package for the Medical Profession
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 120 months min. RM24000 4.99% p.a.
Fees & Charges
There are always fees but how much are they?

Profit Rate / APRAs low as 4.99% 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 age25 years oldMaximum age65 years oldWho can Apply
Malaysians
Medical Practitioner

Frequently Asked Questions about Bank Islam Personal Financing-i Medical Practitioner
Things you might want to know

Who is eligible for this Bank Islam Personal Financing-i product?
Only employees, sole-proprietors and members of partnerships working in the Medical profession may apply for this loan. You must earn in excess of RM2,000 per month.

How much money can I borrow?
You can borrow between RM10,000 and RM200,000. The repayment terms may be up to fifteen years (or age of retirement, whichever is earlier). During your application you will be credit checked, the outcome of this process will determine your maximum borrowing credit limit.

How much does Bank Islam Personal Financing-i package cost?
No processing fees are charged, only a Wakalah (Agency) fee of RM50. You will also need 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. In most cases you will not need to provide a guarantor, deposit or other security. You will be asked to provide supporting documents:

Salaried Employee

Copy of MyKad (front and back)
Latest letter of confirmation from employer
Certificate of registration with Malaysian Medical Council or Malaysian Dental Council
And at least one of the followings:
Latest payment slip or EPF statement, or
Last three month’s bank savings account passbook or current/savings account statement.
Sole-Proprietorship or Partnership

Copy of MyKad (front and back)
Business Registration Certificate
Last six months current account statements
Most recent Form B from the Inland Revenue Board
Latest EPF form and 12 months records
Certificate of Registration with Malaysian Medical Council or Malaysian Dental Council
How do I get my hands on the money?
The application process should be completed within a few business days. Upon approval 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. Payments must be made by Salary Deduction, or Salary Transfer with Auto Fund Transfer for employees, or Auto-Debit for Sole Proprietors and Partnerships.

If payments are not made 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, the loan may be ended at any time by paying the total outstanding amount. Borrowers 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.