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

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