| Personal Financing-i |
|---|
| Fixed Interest and Floating interest rates available. As low as 3.25% p.a flat rate. |
| Maximum 10 years repayment |
| From RM 20,000 to RM 200,000 loan available |
| Only available to Malaysian government sector employees |
Bank Islam Personal Financing-i is an unsecured personal that is catered for public sector employees in Malaysia. This personal loan is Syariah compliant while borrowers will be able to enjoy from RM 20,000 to RM 200,000 of financing with maximum of 10 years repayment upon retirement age.
As of public sector personal loan, Bank Islam’s Personal Financing-i offers a very competitive interest rates. A borrower will have the choice of Fixed or Floating with optional Takaful insurance.
Fixed Rate
3.25% p.a ( with Takaful and Bank Islam products) , 1 to 3 years
3.50% p.a , 1 to 3 years
4.99% p.a, 4 to 10 years
Floating rate ( Based on BLR)
BLR – 1.70% p.a, 1 to 3 years
BLR – 0.40% p.a, 4 to 10 years
As for the repayment of the loan, it can be done only via salary deduction or standing instructions or salary transfer methods.
Charges
Stamp duty fee is required while a Wakalah fee of RM 50 is applicable. Early settlement fees will be charge if a borrower wants to settle the loan earlier. Takaful coverage is a must.
Eligibility
Applicants will need to be from 18 years while do not exceed retirement age during the loan tenure.
This is a public sector loan which is only offered to government servants, selected GLCs, or subsidiaries of government .
Documents required
- NRIC ( front and back)
- Most recent 3 months payslip
- Employment confirmation contract
- Most recent 3 months bank statement of salary account
- EPF statement
- Most recent income tax statements.
