Bank Rakyat offers a competitive Islamic property financing packages for companies to purchase land, residential, and commercial properties.
Eligibility : All business entities such as private limited companies and co-operatives.
Concept : Tawarruq
Type of Properties : Land - agriculture, residential, commercial, industrial.
Commercial building- shop, shop house, office lot, factory/ plant, commercial building.
Purpose : To purchase residential and nonresidential property.
Margin : Up to 80% of purchase price
100% on force sale value, whichever is lower.
Tenure : Maximum 20 years.
Fee and Charge
|Charge and Service for Individuals|
|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
- Copy of Sale & Purchase Agreement.
- A valuation report of property to be charged as security.
Cash flow projection of business.