I want a superbike - am I eligible for this loan?
If you are above the age of 21 and have a minimum salary of RM2000 per month you can apply for this loan. Only new bikes 500cc or higher can be financed by the bank for up to 90% paid over a maximum seven years.
Is this an Islamic loan?
Yes, it is in compliance with Al-Rahji Bank's own Syariah standards.
What are my monthly repayments like?
It is based on a fixed monthly repayment schedule given to you upon approval of Al-Rahji Superbike Financing-i. This means that you will have peace of mind, knowing that your repayments will not vary according to changes in market rates.
And if I don't pay my installments?
Al-Rahji Bank will be so kind as to send SMS alerts to remind you when your repayments are due, so you don't have to pay the late penalty charges. If you somehow refuse to check you mobile, or just simply forgot about your commitments, you will then face the consequences and pay a late penalty fee.
Can I pay off my superbike loan early?
Yes, you can! You will also be given a profit rebate for early ownership without paying any penalties for early settlement.
What documents do I need to apply?
A copy of:
NRIC or Military ID or Police ID
Latest 3 months pay slip
Latest 3 months Bank statement
Dealer/Seller quotation or invoice