![]() This is to protect borrowers in the case of any unfortunately incidents. Personal Takaful Financing Plan (PTFP) is optional with the loan. A 1% p.a penalty will be charged for any late repayment. ![]() A 0.55% Stamp duty is also applicable which is based on the loan amount. There are no processing charges when you apply for the loan however there will be a RM 50 chargeable Wakalah fees for this product. The maximum deductable would be 50% to 60% of salary. The payment for Bank Islam Personal Financing-i is done via auto salary deduction or salary transfer to Bank Islam. This may not be a good advantage during good economy times but is certainly beneficial during recession period where interest rates can shoot over 10% in Malaysia. One point that differentiate this personal loan is there are options for fixed or floating interest rates. However you may need a collateral or guarantor if you credit score is not strong. Applicants can even loan more than RM 200,000 if they provide collateral as security to Bank Islam.Īs of personal loans in Malaysia, there are no collateral nor guarantor is needed for the loan. The loan amount would be subjected to criteria such as monthly income and credit score. The amount of loan available is from RM 10,000 to RM 200,000. The product includes TakafulWill writing, Banca Takaful or BankIslam Card-i. There are three interest rates tiers where you can enjoy better interest if you opt for selected Takaful products. This product is Shariah compliant and is based on Tawarruq buy and sell concept. ![]() So the loan is not available for anyone working in the private sector. Takaful Coverageīank Islam Personal Financing-i is a loan package that is offered for public sectors and selected GLCs only. Floating interest rates would mean that your loan will be tied up with movements of BR with banks. Having Takaful means that you can enjoy better interest rates and having protection for your installments in case of unfortunate incident. Options of fixed or floating interest rates and Takaful Coverage. Valid for Federal or State level Government servant and Government Link Companies (GLC) staffs only. Stable position with minimum salary of RM 2,000 From minimum of RM 10,000 to maximum of RM 200,000 financing available ![]()
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