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.
http://www.personal-loan.my/bank-islam-personal-financing-i/95/