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 3.00%
  • 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

Banking is better with our app

It's simple, secure and convenient

More about our app
TOP