Term Financing-i is a financing package with fixed profit rates designed for companies and co-operatives.
Eligibility : All business entities such as private limited companies and co-operatives.
Concept : Tawarruq
Purpose : Working capital for business expansion involving companies from various sectors including agriculture, credit consumer, property, manufacturing, infrastructure, retail, communication, oil and gas, etc.
Margin : Up to 80% of working capital requirement
Tenure : Maximum 10 years.
Fee and Charge
Charge and Service for Individuals | |
---|---|
Transaction | Charge |
Wakalah Fee | NIL |
Stamp Duty Fee | NIL |
Early Settlement Fee | Rebate (Ibra’) will be given on the deferred profit |
Commodity Trading Fee | RM15 will be charged for every RM1 Million (50:50 sharing basis). Minimum transaction is RM1,000. |
Late Payment Charges |
During the financing period: 1% per annum on top of the outstanding payment. After the financing tenure expires: Shall not be more than the prevailing daily overnight Islamic Interbank Money Market rate (IIMM) on the outstanding balance. |
Additional Documents Required
Term Financing-i
- Detail information on purpose of financing.
- A valuation report of property to be charged as security if applicable.
- Cash flow and project profit & loss projection.