Personal Financing-i InstaCash

Financing

Personal Financing-i InstaCash

Enjoy a simple and quick approval financing experience with Personal Financing-i InstaCash for private sector.

Concept

Tawarruq

Features

  • Amount of financing up to RM50,000
  • Financing tenure of 2 to 7 years
  • No guarantor required
  • Takaful coverage is optional

Eligibility

  • Malaysian citizen
  • Minimum age of 18 years and maximum 60 years old at the end of the financing tenure
  • Minimum monthly gross income of RM2,000 including fixed allowances

Financing Eligibility

  • Financing up to 5 times the monthly gross salary or RM50,000; whichever is lower
  • Installment method via Electronic Payment

Financing Rate

Floating Rate: SBR + 10.33%

* Note:

  • Current Standard Base Rate (SBR) is 2.75%
  • Additional profit rate of 1.50% over the current profit rate for financing without takaful
  • Ceiling Rate = Effective + 4.00%

Required Documents

  • Copy of MyKad
  • Latest Pay Slip 3 months
  • EPF Statement with minimum 12 consecutive months record

Fees & Charges

Transaction

Charge

Wakalah or Agency Fee

Wakalah or agency fee of RM28.30

Stamp duty fee

0.5% of total financing as contained in the Stamp Duty Act 1949.

Early Settlement Fee

Rebate (Ibra’) will be given on the deferred profit

Late Payment Charges

During the financing tenure:

1% per annum on the outstanding amount of the monthly payment

 

After expiry of financing tenure:

Shall not be more than the prevailing daily overnight Islamic Interbank Money Market rate (IIMM) on the outstanding balance

Product Disclosure Sheet

Payment Schedule Personal Financing-i InstaCash

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