Business Banking
Business Financing-i
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Term Financing-i
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.