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Al Rajhi Personal Loan | Pinjaman Peribadi Malaysia

Background
Al Rajhi Bank is one of the world largest Islamic bank from Saudi Arabia. This bank reached Malaysian shore on 2006 as part of it’s internationalization effort.
Al Rajhi Personal Financing-i
7.25% p.a.
Up to RM 150,000 or 5 times montly salary financing available
Maximum 7 years repayment
No guarantor needed
Fast approval
Minimum of 25 years old and RM 5,000 gross income
Al Rajhi Personal Financing-i is an unsecured personal loan where no guarantor and collateral is needed which is 100% Shariah compliant. Al Rajhi personal financing-i interest starts from 7.25% p.a.  This personal loan offers up to 5 times applicant’s salary or RM 150,000 (the lower amount) financing however this will also depends very much on the person’s credit score.  Borrower will have options up to 7 years repayment. This loan features a speedy application, where applicants will know the application status in 24 hours upon complete submission.
Charges
There are no application and processing fees currently. However there will be a 0.5% stamp duty fees while Takaful insurance would be compulsory for the loan. Takaful Insurance will depends on age and tenure of financing by the applicants.
Elibility
Age for age wise, Al Rajhi requires a much high 25 years age for loan application. Applicants should not be over 58 years old at loan tenure. This loan also has a minimum RM 5,000 gross minimum salary for applications which is considered high for Malaysian standards.
Documents required
Copy and photocopy of IC ( Front and back)
Most recent 3 months payslip and bank statement

Al Rajhi Personal Financing-i repayment table is available below

Follow this link: Al Rajhi Personal Loan | Pinjaman Peribadi Malaysia

MBSB Personal Loan | Personal Loan Malaysia | Pinjaman Peribadi

MBSB stands for Malaysian Building Society Berhad has been around for over 50 years and is providing financial services to Malaysia. Although not being a bank, MBSB is an Exempt Finance company allowing it to operate finance based business ranging from savings account to student loans while not operating under Bank Negara’s policy. MBSB  is actually very much owned by EPF and Malaysian government.
MBSB personal loan has been long catered for Malaysian public servant with very competitive rates. It has also recently opened it’s personal loan application to private sector as well although with higher interest rates. Here are some of the loan packages that are offered by MBSB.

MBSB Personal Loan for private sector ( Pembiayaan Peribadi-i Sektor Swasta )
BLR + 4.5%  = 11.1 % p.a. (Monthly reduction based)
Up to RM 300,00 Financing available
Maximum 10 years repayment
No guarantor needed
Fast approval
Minimum 2 years permanent employment
Finally, MBSB has decided to have personal loan for private sectors as well. This personal loan is unsecured loan where no guarantor and collateral is required. MBSB Personal loan provides up to RM 300,00 of financing with a maximum repayment of 10 years with a fast approval process.
It comes with an attractive BLR + 4.5% p.a with monthly reducing balance. At the time of writing BLR 6.6, you will be getting 11.1% p.a. How is this different from other banks who are offering 8.8% p.a. (flat rate) ?  The effective interest rate of flat rate is actually near double while with monthly reducing balance, you are probably getting the same interest rates as advertised.  So the effective interest rate for 8.8% p.a. would probably be somewhere 16% to 17% p.a.

Eligiblity 
This loan is only opens for Malaysian citizens. You will need to be at least 2 years permanently employed to be eligible for the loan

Repayment table

Read more here: MBSB Personal Loan | Personal Loan Malaysia | Pinjaman Peribadi

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Bank Islam Personal Financing-i | Personal Loan Malaysia …

Bank Islam Personal Financing-i
Form RM 10,000 to RM 200,000 financing available
Stable position with minimum salary of RM 2000
No guarantor needed
Valid Government servant and GLC staffs only.
Options of fixed or floating interest rates
FIXED
1 to 3 years : 3.25% p.a. ( with selected Takaful products)
1 to 3 years : 3.25% p.a.
4 to 10 years : 4.99% p.a.
FLOAT
1 to 3 years: BFR – 1.70% p.a.
4 to 10 years: BFR – 0.40% p.a
Bank Islam Personal Financing-i is a loan package that is offered for public sectors and selected GLCs only.
To be eligible for the loan,  you will need to be a Malaysian citizen , 18 years old and above and having a minimum salary of RM 2,000 .  There are three interest tiers where you can enjoy better interest if you opt for selected Takaful products. The product includes TakafulWill writing, Banca Takaful or BankIslam Card-i.   As of personal loans in Malaysia, there are no collateral nor guarantor is needed for the loan.
One point that differentiate this persoal loan is there are options for fixed or floating interest rates. This may not be a good advantage during good economy times but is certainly beneficial during recession period where interest rates can shoot over 10% in Malaysia.

 

Pinjaman Peribadi Bank Malaysia: Maybank Islamic ExeCash-i

Short term financing to cater your personal needs!

ExeCash-i Special package is an Islamic Personal Term Financing under the Syariah principle of Bai’ ‘Inah (sale and buy back). Bai’ ‘Inah is a buy and sell contract whereby Maybank Islamic (“the Bank”) would sell its assets to the applicant on deferred payment basis. Subsequently, Maybank Islamic (“the Bank”) would buy back the same asset from the applicant at a lower price on cash basis.

Under Bai’ ‘Inah concept, Maybank will use its asset as an underlying asset for the sale and purchase transactions.

Purpose:
Debt Consolidation
Emergency Needs
Educational
Home Improvement
Medical
Others

Features & Benefits:
Term financing on monthly rest under Islamic Bai’ ‘Inah concept.
Minimum financing amount of RM1,000 and up to 2 months salary
Financing tenure:Minimum : 3 months
Maximum : 12 months

Margin of Payment:DSR up to 80% for financing
All other financing / loan commitments including this application should be taken into consideration
No Collateral
Profit Rate : 12.00% per annum.

Mode of Payment:By salary deduction at source
By Variable Standing Instruction (VSI)
Others; i.e. cash, cheque only for financing amount of less than RM10,000

Etiqa Takaful Coverage (Death and Disability)
Guarantor:Compulsory if financing amount exceeds 5 times customer’s salary
Cross guarantee is not allowed
CriteriaMust be a fixed income earner
Monthly salary at least equal to applicant

Who can apply
Individual and single applicant only
Age 18 to 50 years old
A Malaysian citizen
Minimum fixed salary of RM1,000 (inclusive of fixed allowance)
Must be the Bank’s APS/MAS** customer
Confirmed employee with continuous employment for at least 2 years in the same company

Note: **i) APS – Automated Payroll Systemii) MAS – Maybank Autocredit System

Processing Fee – Not Applicable

Required Documents

For application, please visit any Maybank Islamic or Maybank branches and bring along the following:
Latest 3 months’ original pay-slips
Latest 2 years’ income tax J form or EA form
Confirmation letter from employer confirming current position held, salary and length of service
For Guarantor(s)
*Terms and conditions apply

Original post: Pinjaman Peribadi Bank Malaysia: Maybank Islamic ExeCash-i

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