Property-i

Business Financing-i 

Property-i

Bank Rakyat offers a competitive Islamic property financing packages for companies to purchase land, residential, and commercial properties. 

Eligibility

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

Concept

Tawarruq

Type of Properties

  • Land - agriculture, residential, commercial, industrial.
  • Commercial building- shop, shop house, office lot, factory/ plant, commercial building.

Purpose

To purchase residential and nonresidential property.

Margin

  • Up to 80% of purchase price
  • 100% on force sale value, whichever is lower.

Tenure

Maximum 20 years.

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

  • Copy of Sale & Purchase Agreement.
  • A valuation report of property to be charged as security.
  • Cash flow projection of business.


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