Bank Islam GradHitz Vehicle Financing-i

Reward yourself with a brand new car for graduating this year! Offering up to 100% financing at competitive profit rates and payable over flexible tenures.

Bank Islam GradHitz Vehicle Financing-iUp to 100% financing
up to 9 years
Loan Type
Fixed Islamic loan
Profit Type
Margin of finance
Up to 100%
Excess Repayment
Not applicable
Early Settlement Rebate

Profit rates

How much the bank charges you based on your loan amount & loan period

ConditionMaximum YearsMargin of FinanceInterest rate
New9 years100%2.35% p.a.
New9 years100%3.3% p.a.

Fees & Charges

Profit Rate for New Cars
from 2.2% p.a. to 3.3% p.a., depending on car brand, borrowing amount, and period
Stamp Duty
Early Settlement Fee
 subject to terms of agreement with bank
Late Penalty Fee
1%  p.a. of the outstanding amount


Minimum Annual Income
Minimum Age
  • 20 to 30 years old
Who can apply
  • Malaysians
  • Graduate
  • Salaried employee
  • Permanent or contract basis employee
  • Government and semi-government employee
  • Selected public listed companies employee
  • GLC employee

More Information

Who is eligible for Bank Islam GradHitz Vehicle Financing-i?

Now known as GradOne, this Bank Islam auto financing is made for the younger crowd, catering to those between 20 to 30 years old, on one condition: you must have at least a diploma and need to be employed at any of the following organizations:

  •    Government and Semi-Government sector
  •    Selected Public Listed Companies
  •    Government Link Companies
  •    Other prominent Private Limited Companies as categorized under package companies listed by Bank Islam

Looking at your relatively young age and unstable source of income, a guarantor, who can be a sibling or a parent with good financial standing, may be required to back this application up. 

Can I finance a foreign car with this Islamic car loan?

Yes, you can. Bank Islam GradHitz Vehicle Financing-i can be used to finance the purchase of national, non-national and unregistered conditioned car models. Doesn't matter what build or brand you so choose, you may get up to 100% financing from Bank Islam.

As this car financing plan follows the principle of Murabahah, your total borrowed amount and profit charges will be known upfront, which then will be divided into equal monthly instalments. Your monthly obligation is to repay your monthly instalment on time and in full.

What if I do not keep up with my instalment payments?

It is advisable that you don't skip your monthly instalment as this habit can incur late payment charges of 1% p.a. on the overdue amount.

In the event that you do not pay for more than 2 months, the bank has the right to repossess your partially owned vehicle. That's not all, this can also leave a really bad impression on your lending profile in the long run.

How do I check for the latest profit rates?

You can always subscribe to RinggitPlus or visit Bank Islam's website to find out the latest profit rates. Bear in mind that the indicative profit rates published on the site are subject to revision from time to time, so be sure you keep yourself updated.

Type of VehiclesProfit Rates
NationalFrom 2.35% p.a. to 3.30% p.a.
Non-national and Unregistered ReconditionedFrom 2.20% p.a. to 2.40% p.a.
Hybrid and Electrical Vehicle (HEV)From 2.10% p.a. to 2.20% p.a.

Note: Profit is calculated on a monthly basis based on the "Sum of Digit" method.

Do I need any Takaful coverage?

It is legal under the law of Malaysia for you to undertake comprehensive Motor Takaful coverage on the vehicle financed for the entire financing tenure. There is also an optional personal accident Takaful coverage known as Auto Financing Takaful Plan you can sign up for.

Can I then opt for an early settlement of my car loan?

Yes, and you are entitled to a rebate which is calculated based on the deferred profit at the time of settlement.

What documents do I need to apply?

  • Copy of NRIC (front and back)
  • Copy of Valid Driving License
  • Copy of Scroll or Transcript
  • Copy of latest 3-months Salary slips; and
  • Copies of the latest 3-months Bank Statements (salary crediting account); or
  • Latest EPF statements/EA Forms
  • Other supporting documents as may be deemed necessary and acceptable by the Bank for additional income support documents

You can get your loan approved within the acceptable turnaround time should all documents are submitted, subject fully to terms and conditions.

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