Bridging-i

Business Financing-i 

Bridging-i

Bank Rakyat's Bridging Financing-i allows customers to purchase land and to finance development of project based on Shariah principal. 

Eligibility

All business entities such as private limited companies and co-operatives.

Concept

Tawarruq

Purpose

To purchase land for project and to finance development of project.

Margin

  • Up to 50% of working capital requirement
  • Up to 40% of development cost,
  • Up to 60% of total development cost.

Tenure

Maximum 6 months upon project completion.

Fees and Charges

Charge and Service for Individuals
TransactionCharge
Wakalah FeeNIL
Stamp Duty FeeNIL
Early Settlement FeeRebate (Ibra’) will be given on the deferred profit
Commodity Trading FeeRM15 will be charged for every RM1 Million (50:50 sharing basis). Minimum transaction is RM1,000.
Late Payment ChargesDuring 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

Bridging-i

  • Approval from the relevant authority on proposed development.
  • Feasibility and marketability study on proposed development.
  • A valuation report of project land to be charged as security.
  • Copy of Sale & Purchase Agreement of project land.
  • Past track record.
  • List of consultants & contractors.


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