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Concept

Tawarruq

Features

  • Amount of financing up to RM200,000
  • Financing tenure up to 10 years
  • No guarantor
  • Takaful coverage is optional
  • Fixed or floating profit rate

Eligibility

  • Malaysian citizen
  • Minimum age of 18 years and maximum 60 years old at the end of the financing tenure
  • Minimum fixed monthly income of RM1,000 including fixed allowances
  • Service in Public sector, GLC Companies and GLC Subsidiary
  • Minimum of three (3) months in service

Financing Eligibility

  • Installment method as follow:
INSTALLMENT METHOD ELIGIBILITY
  • Salary Transfer to Bank Rakyat
up to RM200,000
  • Biro Perkhidmatan Angkasa (BPA)
  • Salary Deduction
  • Electronic Payment

Based on income multiplier or RM200,000 whichever is lower

INCOME ELIGIBILITY
RM 1,000 – RM 5,000 5 times monthly gross salary
RM 5,001 – RM 10,000 8 times monthly gross salary
More than RM 10,000 10 times monthly gross salary

Financing Rate

Fixed Rate

PAYMENT TYPE TENURE FIXED RATE
  • Salary Transfer to Bank Rakyat
  • Biro Perkhidmatan Angkasa
  • Salary Deduction

Up to 3 years

4.54%
More than 3 - 10 years 4.99%
  • Electronic Payment

Up to 3 years

 

5.64%
More than 3 - 10 years 6.26%

*Note :

  1. The profit rate above is for financing with takaful.
  2. Additional profit rate up t.o 0.86% over the current profit rate for financing without takaful

Floating Rate

PAYMENT TYPE TENURE PROFIT RATE EFFECTIVE / FLAT
  • Salary Transfer to Bank Rakyat

Up to 3 years

BR + 2.31% 6.41% / 3.40%
More than 3 - 10 years BR + 2.94% 7.04% / 3.96%
  • Biro Perkhidmatan Angkasa
  • Salary Deduction
Up to 3 years BR + 3.12% 7.22% / 3.84%
More than 3 - 10 years BR + 3.65% 7.75% / 4.40%
  • Electronic Payment
Up to 3 years BR + 5.12% 9.22% / 4.95%
More than 3 - 10 years BR + 5.65% 9.75% / 5.69%

*Note :

  1. Current Base Rate (BR) is 4.10%
  2. Additional profit rate of 1.5% over the current profit rate for financing without takaful
  3. Ceiling Rate = Effective + 4.00%

Documents Required

DOCUMENTS REQUIRED NEW APPLICATION REPEATED/ OVERLAPPING
  • Copy of MyKad/MyTentera

  • Latest 3 months salary slip

  • Latest 3 months Bank Statements of salary crediting account
 
  • And at least one (1) of the below :
    • Confirmation letter from employer
    • EA Form

 

Fees & Charges

TRANSACTION CHARGE
Stamp duty 0.5% of total financing as contained in the Stamp Duty Act 1949.
Note: You are advised to take Takaful coverage from Takaful Company appointed by the Bank.
Compensation Charge (Ta'widh) for Late Payment During the financing tenure: 1% per annum on the outstanding amount of the monthly payment.
After expiry of financing tenure: Based on current Islamic Interbank Money Market Rate on the outstanding principal balance.
Wakalah or Agency Fee Wakalah or agency fee of RM30.00 inclusive 6% GST

Product Disclosure Sheet

Illustration Payment Schedule

For any enquiries, please visit the nearest branch or call our Contact Centre tele-Rakyat at 1-300-80-5454.

*Terms and conditions apply.