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Personal Loan/Pinjaman Peribadi Bank Islam – Year 2016

Bank Islam Personal Loan known as Personal Financing-i Facility. It provide secured or unsecured term financing to meet customer financial needs. It can be calculated as fixed rate or floating rate. The special of this Bank Islam Personal Financing-i Facility is it is applied with Syariah concept – “Tawarruq”.

Benefits to take Personal Loan with Bank Islam

  1.  a minimum loan of RM10,000 to maximum RM200,000 to be offer to customer. It can be more if secured with collateral. However, the final loan amount approved will be based on the bank’s credit evaluation.
  2. Flexible repayment back period can be 1 years to 10 years.
  3. Customer can choose either fixed rates or floating rates based on their favor.
  4.  There’s no guarator is required
  5. No deposit, processing fees and hidden charges.
  6. Competitive rate and fast approval.

Basic Requirement to apply Personal Financing-i Facility

  1. He/She must be a Malaysian.
  2. Applicant ages between 18 –  retired age
  3. Fixed salary with minimum of RM2,000 per month.
  4. Offer to Malaysian Public Sector employees only.

Documentations Requred

  1. Front & back of Identity Card (I/C)
  2. Latest 3 months salary slip
  3. Latest 3 months bank statement with salary credit account
  4. Latest 3 months EPF statement
  5. Employment confirmation letter (Offer Letter)

Profit Rates

1.Fixed Rates

  • from minimum 4.99% to 7.00% p.a. from 1 – 10 years

2.Floating Rates

  • Base Rate(3.90%) + 1.80% p.a. for 1- 3 years
  • Base Rate(3.90%) + 2.70% p.a. for 4-10 years

Repayment Table

bank islam schedule

How to Apply?

Please go to http://www.bankislam.com.my/home/ezxcess/ or any branches nearby for more information.

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.