Micro Financing-i MUsK scheme is designed specially to provide funds and financing to assist hawkers and peddlers to expand and improve their business.


Types of financing

• Direct funding for cooperative members / Hawkers & Peddlers Society.
  
• Conduct a micro enterprise
• Required to participate Self Help Group (SHG)*.
• Profit rate 8.25% in flat rate.
• Bank Negara Malaysia's approval needed.
• Syariah Concept : Tawarruq
• Takaful Coverage Protection
• No Collateral
• No Guarantor
• Financing tenure of 5 years

*SHG is an individual group that consist of 5 to 10 pax.

Type of Business

• Manufacturing
  
• Services
• Others - Primary agriculture, Construction, Mining & quarrying

Eligibility

• Malaysian.
  
• Cooperative members / Hawkers & Peddlers Society
• Sole proprietor, partnership, private limited company.
• 18 years old and not exceeding 65 years old when the financing tenure expires.
• Residing in the business operation area.
• SHG members with good repayment record (backlog payment not more than 4 weeks).

Maximum Financing

RM 1,000 - RM 50,000

Payment Method

• Savings Account deduction
  
• At ATM / CDM

Financing Scheme

• Profit rate 8.25% in flat rate.
  
• Bank Negara Malaysia's approval needed.

Profile Rate

8.25% Flat Rate Per Annum

Fees and Charges

Product Disclosure Sheet

• (English)PDS Micro Financing-i MUsK-MEF.pdf (.pdf format)

For further information, you may visit our nearest branches or call our tele-Rakyat Contact Centre at 1-300-80-5454

* Subject to terms and conditions