Bank Muamalat

Bank Muamalat Vehicle Financing-i GradPack

Need a car to commute to your first job? With a low low minimum basic salary requirement this is a great loan for recent graduates

    • Up to 9 years tenure
    • Fixed Islamic financing
    • Flat profit rate
    • Up to 90% margin of finance
  • ConditionOriginMaximum YearsMargin of FinanceProfit Rate
    NewLocal6 years90%3.35% 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 3.35% 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)

*inclusive of 6% GST


Do you qualify for this financing?

Minimum annual income
Minimum age
20 years old
Maximum age
30 years old
Who can Apply
  • Malaysians
  • Graduate
  • Salaried employee
  • Professional
  • Public Listed Company employee
  • Government-Linked Company employee

Frequently Asked Questions about Bank Muamalat Vehicle Financing-i GradPack

Things you might want to know

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

If you've graduated with either a diploma or degree from a recognised university within the last 3 years, and you're aged between 20 and 30, then you are most welcome to apply for this car loan - it's especially for you!

What does this car loan have to offer?

First of all, Bank Muamalat will be able to provide you with a minimum of RM20000 or 100% financing on the price of your car, and you can stretch your repayments over a maximum of nine years. The Vehicle Financing-i GradPack will cover both local and foreign cars alike.

How do I pay for my monthly installments?

You'll need to pay a fixed profit rate to the bank until the end of your leasing period. Bank Muamalat makes it compulsory for you to deposit an advance payment on your loan, equivalent to two months worth of car loan repayments.

Okay, but what if I fail to pay?

It would be less punishing for you if you were only to pay late as you only incur a penalty charge of 1% per year on the overdue amount. However, if you fail to pay for two months straight, the bank might just repossess your car!

Can I settle this car loan early?

That you can certainly do! You will even be entitled to a rebate based on the remaining financing period.

And the documents I need to apply?

You will need the following:

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

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