Micro Financing-i MUsK scheme is designed specially to provide funds and financing to assist hawkers and peddlers to expand and improve their business.
Types of financing
- Direct funding for cooperative members / Hawkers & Peddlers Society.
- Conduct a micro enterprise
- Required to participate Self Help Group (SHG)*.
- Profit rate 12.56% in flat rate.
- Shariah Concept : Tawarruq
*SHG is an individual group that consist of 5 to 10 pax.
Type of Business
- Manufacturing
- Services
- Others - Primary agriculture, Construction, Mining & quarrying
Eligibility
- Malaysian.
- Cooperative members / Hawkers & Peddlers Society
- Sole proprietor, partnership, private limited company.
- 18 years old and not exceeding 65 years old when the financing tenure expires.
- Residing in the business operation area.
- SHG members with good repayment record (backlog payment not more than 4 weeks).
Maximum Financing
RM 1,000 - RM 50,000
Payment Method
- Savings Account deduction
- At ATM / CDM
Profile Rate
12.56%
Fees and Charges
Charge and Service for Individuals | |
---|---|
Transaction | Charge |
Late Payment Charges (Ta'widh): |
During the financing period:
After the financing tenure expires |
Wakalah or Agency Fee | Wakalah or agency fee of RM28.30 |
Stamp Duty Fee | Exempted |
Early Settlement Fee | Rebate (Ibra’) will be given on the deferred profit |
Product Disclosure Sheet
- (English)PDS Micro Financing-i (MUsK) Non Panel.pdf (.pdf format)
- (English)PDS Micro Financing-i MUsK-MEF.pdf (.pdf format)
For further information, you may visit our nearest branches or call our tele-Rakyat Contact Centre at 1-300-80-5454
* Subject to terms and conditions