Financing-i
VEHICLE FINANCING-i WITH GUARANTOR’S CREDIT UNDERWRITING FOR E-HAILING DRIVERS
Description
Expanding the vehicle financing to potential e-hailing driver by considering guarantor’s incomes in its credit assessment.
Shariah Concept
Al-Ijarah Thumma Al Bai` (AITAB)
Features
- Margin financing up to 90%
- Financing amount up to RM50,000
- Financing tenure up to 9 years
Eligibility
Applicant (e-hailing driver):
- Minimum age of 18 and not exceeding 60 years old at the end of the financing period.
- E-hailing driver, with a qualified guarantor.
Guarantor:
- Must be a close family member, such as a spouse, parent, child, or sibling only.
- Guarantor's income source – fixed income, non-fixed income, or self-employed.
- Must have a good credit record with Bank Rakyat and other financial institutions
Profit rate
The current profit rate for the Vehicle Financing-i An Naqlu 1 that is in effect.
https://www.bankrakyat.com.my/portal-main/article/vehicle-financing-i-an-naqlu-1
Payment Method
- Biro Perkhidmatan Angkasa (BPA)
- Potongan Gaji Majikan (PGM)
- Electronic payment
- Salary transfer
Required Documents
Applicant (e-hailing driver)
- A copy of MyKad
- A copy of valid driving license
- Vehicle Sales Order (VSO)
- Proof of income
- Appointment letter or valid ID from gig company
- A copy of valid Public Service Vehicle (PSV) license
Guarantor
- A copy of MyKad
- Proof of income
Fees & Charges
- Stamp duty of RM10 for Hire Purchase agreement
- Stamp duty of RM10 for Letter of Guarantee
