Bank Muamalat

Bank Muamalat Vehicle Financing-i GradPack

Need a car to commute to your first job? Choose your brand new national or international car and get financing with Bank Muamalat - suitable for low income earner!

    • Up to 9 years tenure
    • Fixed Islamic financing
    • Flat profit rate
    • Up to 90% margin of finance
  • ConditionOriginMaximum YearsMargin of FinanceProfit Rate
    NewLocal9 years90%3.1% p.a.
    Foreign9 years90%2.95% p.a.
View product disclosure sheet.

Fees & Charges

There are always fees but how much are they?

Profit Rate for New Cars
from 2.95% p.a. to 3.1% p.a., depending on car brand, borrowing amount, and period.
Stamp Duty
Early Settlement Fee
Late Penalty Fee
1% p.a. in arrears (Ta'widh)


Do you qualify for this financing?

Minimum annual income
Minimum age
20 years old
Maximum age
35 years old
Who can Apply
  • Malaysians
  • Graduate from institutions recognized by MQA and MoHE
  • Salaried employee

Frequently Asked Questions about Bank Muamalat Vehicle Financing-i GradPack

Things you might want to know

Am I eligible to apply for Bank Muamalat Vehicle Financing-i GradPack?

If you have a minimum qualification of diploma from a university recognized by Malaysia Qualification Agency or Department of Higher Education of the Ministry of Higher Education, you can apply for this Islamic car loan within 5 years from the date of graduation.

But first, let's go through the checklist whether you are qualified or not:

  • Aged between 20 to 35 years old;
  • Earn a minimum of RM2,500 per month; and
  • Confirmed staff (except for goverment staff and management trainees of private sector).

What does this car financing have to offer?

Bank Muamalat can provide you a margin of financing of up to 100% of the vehicle price, starting from a minimum of RM20,000. 

Borrow any amount that suits your financial commitment and choose a tenure that is flexible for you to repay. Vehicle Financing-i GradPack can be used to finance all local and selected foreign cars for up to 9 years. 

How do I pay for my monthly installments?

Just so you know that this car financing plan is calculated on a fixed rate basis, whereby you are only required to pay a fixed monthly instalment, which consists of principal amount and profit charges. 

This amount is divided into equal monthly instalments and payable until the end of your chosen tenure. However, it is compulsory for you to deposit an advance payment equivalent to 2-months instalments, on your car financing once you have agreed to the contract. 

What happens if I'm late on payment or make an early settlement?

It is not advisable to pick up this habit as it would be detrimental to your pocket and lending profile in the long run. Firstly, you will incur a late payment charge of 1% p.a. on the overdue amount. 

And secondly, the bank has the rights to repossess your vehicle should you defaulted for 2 consecutive months!

On the contrary, besides keeping a prompt monthly payment habit, making an early settlement of your car financing is welcomed. Bank Muamalat will not charge you anything, and in fact, you will be entitled to a profit rebate based on the remaining financing period.

And the documents I need to apply?

Before making your way to the nearest Bank Muamalat branch, you need to prepare the following documents:

  • Photocopy of NIRC
  • Photocopy of driving license
  • Photocopy of 3 months latest salary slip (or employment's offer letter, if newly employed) for government staff or management trainees of private sector)
  • Photocopy of diploma/degree/transcript 
  • Vehicle sales order
  • Application form duly completed

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