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Pinjaman Peribadi Bank Islam

Bank Islam Personal Financing-i Facility

Any Malaysian regardless or religion can open an account, invest and apply for banking facilities from Bank Islam. Bank Islam offers Personal Financing-I subject to a minimum of RM5,000.

Benefits customers will enjoy:

  • Competitive rate
  • No commitment fee
  • No hidden charges
  • No guarantor is required
  • No processing fee
  • Flexible financing tenure
  • Selling price – fixed and known
  • Fast approval

Customer Eligibility for Personal Financing-I

  • Applicant must be 18 years and up to retirement age or 70 years old (last entry age at 65 years old)
  • Malaysian citizen
  • Earning a minimum fixed income of RM1,500.00 per month
  • Salary earner or sole proprietorship/partnership
  • For sole proprietorship/partnership – minimum 2 years in business
  • Total deduction must not exceed 50% of gross salary or 75% inclusive of home financing

Margin of Financing:

  • Up to 100% if secured against fixed deposit
  • Up to 80% if secured against structured investment
  • Up to 60% if secured against unit trust

Payment Period for Personal Financing-I is secured against fixed deposit or structured investment:

  • Maximum of 5 years (60 months) with no age limit
  • Secured against unit trust
  • Maximum of 5 years (60 months) or up to the retirement age or up to 70 years old, whichever is earlier

Document needed for Salary Earner:

  • Photocopy of Identity Card
  • Latest payslip
  • Latest letter of confirmation from employer (salary earner)
  • Certificate of registration with Malaysian Medical Council or Malaysian Dental Council
  • And at least one (1) of these:
  • Latest income statement (Form B/eBE/ EA/EC); or
  • Latest 3 months Bank Statements of salary crediting account; or
  • Any other latest supporting document such as EPF statement, if required

Document needed for Sole Proprietor/Partnership:

  • Photocopy of identity card
  • Business Registration
  • Last 6 months current account statement
  • Latest Annual income statement (BE/B Form) with payment receipt
  • Last 2 years financial statement
  • Certificate of registration with Malaysian Medical Council or Malaysian Dental Council

Customers will be given the option in selecting the payment method to suit their payment style:

  • Salary Deduction
  • Salary Transfer to Bank Islam with Auto-debit Instruction
  • Auto-debit Instruction from other Banks (from salary credited account)

For Sole Proprietorship or Partnership:

  • Auto-debit Instruction from Bank Islam or other Banks (from salary credited/business account)
  • Standing instruction from current account linked to the Personal Cash Line-i

Just for the record, Bank Islam Malaysia Berhadis an Islamic bank that has been in operation since July 1983. The bank currently provides Shariah-compliant card services and mobile banking, in addition to traditional banking.


How to qualify for Personal Loans in Malaysia

Personal Loan

Personal loan is a popular and growing product in Malaysia. As Malaysians house hold debts grow higher , government and central bank start to tighten the criteria for loans in Malaysia. Personal Loan products took a heavy hit when Malaysian Central Bank announced that personal loan would be capped at a maximum 10 years repayment period on 2013.
Personal loan is typically unsecured in Malaysia. This means that there are no collateral and guarantor is needed. This may sound less intimidating however bank will stringent when processing loan applications as there are no security to hold on to. Being unsecured, Bank will incur greater risk therefore the interest such for loans would be higher .

Basic Eligiblity

A borrower will have to be anywhere between 21 years old to 60 years old at the end of financing tenure when applying for a personal loan. A solid few years employment would be added advantage. Typically, a minimum RM 2,000 monthly salary is required from banks while the higher income would definitely helps.
Documents needed

Typically, You will need a copy of your Identity Card front and back , latest 3 months salary slip , confirmation of employment , bank statement where your salary is credited and most recent income tax return form.
CCRIS & CTOS Credit Score

Credit score plays a very important part when bank assesses personal loan applicants. For a start, an applicant will need to have 2 years credit records. So a borrower will have to start using his or her credit cards or other loans for at least 2 years before applying for personal loans. No records means that bank will have nothing to assess to which is not good. Any late payment for 2 months will be a red flag and the application will be rejected. As CCRIS data is only kept for 2 years, you will have to maintain good record for 2 years to apply for a personal loan again.

Personal loan