Why Public Servants Should Consider This Exclusive Shariah-Compliant Personal Financing
Author Avatar

There are times in our lives when we may need a cash injection. Whether it is to kickstart the side hustle you have been planning, the home repair works you have been delaying, or to pay for emergencies, personal financing can be useful if you are in a tight spot financially.

For Malaysian civil servants as well as employees from Statutory Bodies and selected Government-Linked Companies (GLCs), Yayasan Dewan Perniagaan Melayu Perlis Berhad (YYP) offers Shariah-compliant personal financing up to RM250,000. Besides the large financing amount to cater for various needs, YYP’s Personal Financing-I also offers various benefits compared to conventional personal loans in the market.

1. Designed To Be Accessible And Inclusive

YYP’s Personal Financing-I is governed by the tenets of Shariah principles and Islamic Finance which strives to offer accessible and affordable products to individuals and businesses of all backgrounds. 

Applicant’s CCRIS commitment is not taken into account in YYP’s Personal Financing-I. The leniency allows individuals who have existing financial commitments to still be eligible for this financing.

2. Transparency Through A Fixed Repayment Amount

YYP’s Personal Financing-I practices Commodity Murabahah via Tawarruq arrangement, whereby the customer buys the commodity or funds from YYP on a deferred payment basis and appoints YYP to sell the commodity on a cash and spot basis. The underlying asset in the sale and purchase contract is a Shariah-compliant commodity and the proceeds from the sale will be credited into the customer’s account during the disbursement of the facility.

Moreover, the Murabahah concept implies that the total value of the agreement is known from the start by both parties, providing transparency and effective disclosure of necessary information that would help in making an informed decision. On top of that, the repayment amount for Personal Financing-I YYP is fixed throughout the tenure.

3. Lower and Non-compounding Late Payment Fees

As compounding interest is prohibited by Shariah principles, late payment fees of Shariah-compliant financing are typically lower than those of conventional loans. Following the concept of Ta’widh, Personal Financing-I YYP charges a maximum of 1% per annum for late payments.

A Fuss-Free Financing Solution

If you are a Malaysian civil servant, an employee of Statutory Bodies, or selected Government- Linked Companies (GLCs) who may require a sum of cash, Personal Financing-I YYP offers financing solution with: 

  • Fast disbursement in as quick as 24 hours,
  • Easy application process,
  • High financing amount up to RM250,000, and
  • Financing tenure up to 10 years.

For more information on YYP’s Personal Financing-I, visit YYP’s website here.

The contents of this article do not constitute financial advice. Readers should conduct their own research before making a financial decision.

0 0 votes
Article Rating


Comments (0)

Notify of

Inline Feedbacks
View all comments
Top Sponsored Articles
Post Image
Shopping Responsibly, Is ‘Buy Now, Pay Later’ The Way To Go?
Katrina Balan Quiroz
- 18th June 2021
E-commerce has experienced a boom over the last year with an 87% growth in 2020 compared to 2019 […]
Post Image
Free Digital Tools to Help Market Your SME Business
Ahmad Mudhakkir
- 2nd July 2018
If you want to make sure other people know about your business, here are the free digital tools that can help you do it!
Post Image
How TNB Smart Meter Can Help Keep Your Household Budget in Check
Sharon Bentley
- 24th May 2021
Tenaga Nasional Berhad (TNB) has recently announced that its goal to equip 1.5 million homes with Smart Meter […]
Post Image
GrabPay DuitNow QR Supports Seamless Digital Payments For Both Consumers And Businesses
- 15th June 2021
It’s a timely launch by Grab, as many Malaysians have adopted contactless payments during the pandemic in an […]

Related articles

Related Posts Image
Related Posts Image
Related Posts Image
Related Posts Image