For all biker enthusiast and prospective buyers out there, Bank Islam Superbike Financing-i just might be the financing plan that you've been looking for to drive off with the bike that you've always wanted. Find out all the details you need to know to save on your next Islamic hire purchase financing plan with better profit rates than the rest of the competition.
Am I eligible for Superbike Financing-i?
Bank Islam Superbike Financing-i is open to Malaysians who are employed by the government, government linked companies, selected public listed or private limited companies. You’ll need to earn a fixed income in order to qualify for this plan.
Is this financing plan Shariah-compliant?
No worrying about the pitfalls of Riba with this Islamic financing plan. Based on the contract of Murabahah, Superbike Financing-i is fully compliant with Islamic Banking regulations set by Bank Negara Malaysia.
How much are my monthly payments?
Your payments each month will depend on the approved financing amount and the repayment tenure that you choose. The profit rates is lower for fully imported (CBU), locally assembled (CKD) and reconditioned super bikes if you choose a 3 – 5 year repayment period.
Once your Superbike Financing-i has been approved by Bank Islam, you’ll receive a repayment schedule with fixed payments for each month. Please note that the profit rates for reconditioned super bikes are marginally higher than for new purchases:
Reconditioned Super Bike Rates
|Financing Period||Profit Rates|
|3 – 5 years||4.70%|
|6 – 7 years||5.00%|
Can I choose to repay my Superbike Financing-i early?
Yes, you can. Bank Islam will offer Ibra’ rebates if you choose to fully settle the remaining balance on your financing plan before its maturity. Get in touch with a financial planner from Bank Islam to find out the benefits that you will receive for early settlement.
What happens if I am late on my repayments?
You are required to make payment to Bank Islam on your Superbike Financing-i regularly and on time each month. Missing your payments will result in late payment charges equal to 1% per annum via Ta’widh compensation.