Shariah Concept

Tawarruq

Eligibility Criteria

• All individuals, joint applicants, Malaysian citizens, non-Malaysian citizens and non-individuals

Financing Amount

Below RM500,000

Margin of Financing

• Individual: Up to 90% (basic financing) of the Purchase Price or Open Market Value (OMV) whichever is lower
• Non Individual:60% (basic financing) of the Purchase Price or OMV whichever is lower.
  (Up to an additional 5% incidental financing on top of the MOF (basic financing amount) is allowable, if inclusive of other incidentals such as MRTT contribution, legal fees, will writing fee etc.)

Tenure

• Individual: Up to thirty-five (35) years or the Customer’s age of seventy-five (75) years whichever is earlier.
• Non Individual:Up to twenty (20) years or major shareholder/ director/key person’s age of seventy (70) years whichever is earlier.

Profit Rate

• Profit is calculated based on Variable Rate
• Protection with a Ceiling Profit Rate capped at 11% p.a.

Features / Benefits

• Purpose of Financing
  • Financing the purchase of residential property
  • Refinancing of an existing mortgage financing from other financial institutions (e.g. redemption sum/balance outstanding plus top up facility)
  • Refinancing of a property free from encumbrances
  • Additional financing or top up facility for existing Islamic property financing - Customers seeking extra facility for working capital, education, renovation, etc.
• Property Type
  • Residential Property – Completed & Under-construction (landed/non-landed);
  • Vacant Land (bungalow and agricultural) accompanied by proposed/approved building plan to build a detached house/bungalow
• Waiver on processing fees
• No early settlement charges
• Granting of rebate for early settlement
• No compounding of profit and other charges
• Financing of Mortgage Reducing Term Takaful (MRTT) and legal fees
• Flexible Takaful coverage; MRTT and/or assignment of Family Takaful

Shariah Concept

Tawarruq

Eligibility Criteria

• All individuals, joint applicants, Malaysian citizens, non-Malaysian citizens and non-individuals

Financing Amount

RM500,000 and above

Margin of Financing

• Individual: Up to 90% (basic financing) of the Purchase Price or Open Market Value (OMV) whichever is lower
• Non Individual:60% (basic financing) of the Purchase Price or OMV whichever is lower.
  (Up to an additional 5% incidental financing on top of the MOF (basic financing amount) is allowable, if inclusive of other incidentals such as MRTT contribution, legal fees, will writing fee etc.)

Tenure

• Individual: Up to thirty-five (35) years or the Customer’s age of seventy-five (75) years whichever is earlier.
• Non Individual:Up to twenty (20) years or major shareholder/ director/key person’s age of seventy (70) years whichever is earlier.

Profit Rate

• Profit is calculated based on Variable Rate
• Protection with a Ceiling Profit Rate capped at 11% p.a.

Features / Benefits

• Purpose of Financing
  • Financing the purchase of residential property
  • Refinancing of an existing mortgage financing from other financial institutions (e.g. redemption sum/balance outstanding plus top up facility)
  • Refinancing of a property free from encumbrances
  • Additional financing or top up facility for existing Islamic property financing - Customers seeking extra facility for working capital, education, renovation, etc.
• Property Type
  • Residential Property – Completed & Under-construction (landed/non-landed);
  • Vacant Land (bungalow and agricultural) accompanied by proposed/approved building plan to build a detached house/bungalow
• Waiver on processing fees
• No early settlement charges
• Granting of rebate for early settlement
• No compounding of profit and other charges
• Financing of Mortgage Reducing Term Takaful (MRTT) and legal fees
• Flexible Takaful coverage; MRTT and/or assignment of Family Takaful

Shariah Concept

Tawarruq

Eligibility Criteria

• Malaysian citizen aged 40 and below
• First time home buyer
• Employed:-
  • Applicant(s) must be a confirmed employee with the same employer for at least 6 months from the date of employment; and
  • Graduate (degree holder) or at least 3 years total working experience (non-degree holder)
• Owner occupied

Property Price / Value

Residential Properties with minimum property price/value of RM100K and up to a maximum of RM500K

Margin of Financing

• Up to 100% of the Sale & Purchase Agreement (SPA) price or OMV whichever is lower and eligible for first (1st) time home buyer and first (1st) party charge only.
• Up to 105% of SPA / OMV whichever is lower, if inclusive of MRTT.

Tenure

• Up to thirty-five (35) years or the Customer’s age of seventy-five (75) years whichever is earlier.

Profit Rate

• Profit is calculated based on Variable Rate
• Protection with a Ceiling Profit Rate capped at 11% p.a.

Features / Benefits

• Purpose of Financing
  • Financing the purchase of residential property
• Property Type
  • Residential Property – Completed & Under-construction (landed/non-landed)
  • Waiver on processing fees
• No early settlement charges
• Granting of rebate for early settlement
• No compounding of profit and other charges
• Financing of Mortgage Reducing Term Takaful (MRTT) and legal fees
• Flexible Takaful coverage; MRTT and/or assignment of Family Takaful

Package Name

My First Home Scheme-i – First Time House Buyers (MFHS-i - FTHB)

Shariah Concept

Tawarruq

Eligibility Criteria

• Malaysian citizen aged 18 years to 40 years.
• Single customer gross monthly household income of RM5,000 and below (individual / joint with spousal or blood relationship)
• First time home buyer for own occupancy
• Employed:-
  • Applicant(s) must be a confirmed employee with the same employer for at least 6 months from the date of employment; and
  • Graduate (degree holder) or at least 3 years total working experience (non-degree holder)
• No record of impaired financing for the past 12 months for all credit facilities reported to CCRIS

Property Type and Value

Only residential properties (Completed & Under-construction) with minimum property value/price of RM100, 000 and up to
RM300, 000

Margin of Financing

• Up to 100% of the Sale & Purchase Agreement (SPA) price or OMV whichever is lower and eligible for first (1st) time home buyer and first (1st) party charge only.
• Up to 105% of SPA / OMV whichever is lower, if inclusive of MRTT.

Tenure

• Up to thirty-five (35) years or the Customer’s age of seventy (70) years whichever is earlier.

Profit Rate

• Profit is calculated based on Variable Rate.
• Protection with a Ceiling Profit Rate capped at 11% p.a.

Features / Benefits

• No ancillary cost:-
  • No processing fee;
  • MRTT contribution amount is without Bank's commission;
  • No charge will be imposed by the Bank on solicitors for the use of the Bank's standard legal document template.
• Granting of rebate for early settlement
• No compounding of profit and other charges
• Financing of Mortgage Reducing Term Takaful (MRTT) and legal fees
• Mandatory for customer to execute Declaration Form
• Lock-in period of five (5) years from the date of Letter of Offer

Financial Education and Counselling

Mandatory completion of the online financial literacy course by Agensi Kaunseling and Pengurusan Kredit (AKPK) to assist potential borrower(s) understand their financial commitments prior to purchasing a home. Applicant (s) must furnish the proof of AKPK online course certificate at the point of financing application. The module can be accessed from AKPK’s Rumahku portal at (https://learn.akpk.org.my/courses/rumahku)

Moratorium Period and Early Settlement Fee

• No sale of property shall take place within the first five (5) years from the date of Letter of Offer.
• Early Settlement Fee - In the event of early settlement during lock in period / moratorium period, the Bank will impose a fee equivalent to actual cost incurred by the Bank but not exceeding 2% on outstanding principal balance

Shariah Concept

Tawarruq

Eligibility Criteria

• All individuals, joint applicants, Malaysian citizens, non-Malaysian citizens and non-individuals

Financing Amount

Below RM500,000

Margin of Financing

• Up to 80% (basic financing) of the purchase price or OMV whichever is lower for both individual and non-individual Customer.
• Up to an additional 5% incidental financing on top of the MOF (basic financing amount) is allowable, if inclusive of other incidentals such as MRTT contribution, legal fees, will writing fee etc.

Tenure

• Individual: Up to thirty (30) years or the Customer’s age of seventy (70) years whichever is earlier.
• Non Individual:Up to twenty (20) years or major shareholder/ director/key person’s age of seventy (70) years whichever is earlier.

Profit Rate

• Profit is calculated based on Variable Rate
• Protection with a Ceiling Profit Rate capped at 11% p.a.

Features / Benefits

• Purpose of Financing
  • Financing the purchase of commercial property
  • Refinancing of an existing mortgage financing from other financial institutions (e.g. redemption sum/balance outstanding plus top up facility);
  • Refinancing of a property free from encumbrances
  • Additional financing or top up facility for existing Islamic property financing - Customers seeking extra facility for working capital, education, renovation, etc
• Property Type
  • Commercial Property – Completed & Under-construction (landed/non-landed)
  • Vacant Land (Bungalow, Agricultural and Industrial land)
• No early settlement charges
• Granting of rebate for early settlement
• No compounding of profit and other charges
• Financing of Mortgage Reducing Term Takaful (MRTT) and legal fees
• Flexible Takaful coverage; MRTT and/or assignment of Family Takaful

Package Name

Ultimate Home Financing-i

Shariah Concept

Tawarruq

Eligibility Criteria

• All individuals, joint applicants, Malaysian citizens, non-Malaysian citizens and non-individuals

Financing Amount

RM500,000 and up to RM10 million

Margin of Financing

• Up to 80% (basic financing) of the purchase price or OMV whichever is lower for both individual and non-individual Customer.
• Up to an additional 5% incidental financing on top of the MOF (basic financing amount) is allowable, if inclusive of other incidentals such as MRTT contribution, legal fees, will writing fee etc.

Tenure

• Individual: Up to thirty (30) years or the Customer’s age of seventy (70) years whichever is earlier.
• Non Individual:Up to twenty (20) years or major shareholder/ director/key person’s age of seventy (70) years whichever is earlier.

Profit Rate

• Profit is calculated based on Variable Rate
• Protection with a Ceiling Profit Rate capped at 11% p.a.

Features / Benefits

• Purpose of Financing
  • Financing the purchase of commercial property
  • Refinancing of an existing mortgage financing from other financial institutions (e.g. redemption sum/balance outstanding plus top up facility)
  • Refinancing of a property free from encumbrances
  • Additional financing or top up facility for existing Islamic property financing - Customers seeking extra facility for working capital, education, renovation, etc.
• Property Type
  • Commercial Property – Completed & Under-construction (landed/non-landed);
• No early settlement charges
• Granting of rebate for early settlement
• No compounding of profit and other charges
• Financing of Mortgage Reducing Term Takaful (MRTT) and legal fees
• Flexible Takaful coverage; MRTT and/or assignment of Family Takaful