3 Sep - 5 min read
Personal financing can be a useful tool towards helping you realise your goals as it can give you the financial assistance needed to further studies or even start a side hustle. Alternatively, it can also be a handy cushion during times of need. By its very nature, financial emergencies tend to come without any warning, sometimes as unexpected medical bills, home repairs or renovation, or even your car breaking down — in these situations, it might be useful to take out a personal financing.
As such, personal financing offers a unique flexibility since they can be taken out for a variety of reasons, provide a lump sum of money, and when used right, might be more cost-efficient.
What’s more, there are many different types of personal financing including ones that offer exclusive benefits for individuals working in a specific profession. One such personal financing is Bank Islam’s Personal Financing for Professionals Programme. This Shariah-compliant financing programme is exclusively available for 13 specific professions, such as: Doctors, Dentists, Accountants, Engineers, Lecturers, Architects, Safety Officers, Pharmacists, Veterinarians, Optometrists, Opticians, Quantity Surveyors, and Actuarists.
Under the Personal Financing for Professionals Programme, individuals working as any of the above 13 professions can gain access to a number of exclusive benefits such as maximum financing, competitive profit rates, and more. Let’s a take a closer look at what these benefits are:
Whether it’s for personal use or to cover a financial emergency, the Personal Financing for Professionals Programme offers high financing amounts that range between RM10,000 to RM300,000. On top of that, approved applicants will also enjoy competitive profit rates from as low as 4.20% p.a. alongside the reassurance of Bank Islam’s fully Shariah compliant processes. Do keep in mind that the financing limit and profit rate will also depend on your current credit score, and other factors.
This competitive profit rate can also come in handy if you’re looking for a personal financing for debt consolidation. With debt consolidation, you can consolidate any existing debts such as credit cards or other personal financing under a single financing. The advantages of debt consolidation include improved cash flow since you’ll only be making a single monthly payment, could reduce monthly payments, and, with low profit rates such as those offered by the Personal Financing for Professionals Programme, you’ll also potentially reduce your overall profit cost and save more.
Additionally, with the Personal Financing for Professionals Programme, you can also opt for Shariah-compliant coverage with Takaful protection for any unfortunate event of death or total permanent disability during the financing tenure. The additional Takaful protection gives you the benefit of peace of mind and taking care of your loved ones by reducing their financial worries during what may be a difficult and stressful time.
Lastly, applying for the Personal Financing for Professionals Programme is a breeze! Bank Islam’s doorstep banking brings the bank to you so that you can conveniently apply for financing online with just a few necessary documents. The user-friendly online application form allows you to easily apply at your convenience without the restrictions of branch opening hours.
With their innate flexibility, personal financing can be useful to your personal finances since they can be used for just about anything. However, it is important to be cautious and fully understand the details of the contract prior to signing up for any personal financing as it is a long-term commitment.
That said, if you’re a professional who’s working as any of the 13 professions listed above and is considering a personal financing why not take a closer look at Bank Islam’s Personal Financing for Professionals Programme? With a convenient application process, exclusive benefits just for you, and competitive profit rates, the Personal Financing for Professionals Programme may be just the financial boost you need to help you achieve your goals and dreams.
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