CIMB Hire Purchase-i

Get this Shariah-compliant car loan for hassle-free finance with fast 1-Minute CIMB InstaApproval, easy repayment and full Takaful coverage for the first year.

CIMB Hire Purchase-iInstant Approval
up to 9 years
Loan Type
Flexi/Fixed Islamic loan
Profit Type
Margin of finance
Up to 90%
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 years90%3.75% p.a.
Used9 years90%4.45% p.a.

Fees & Charges

Profit Rate for New Cars
from 2.7% p.a. to 3.75% p.a., depending on car brand, borrowing amount, and period
Profit Rate for Used Cars
from 4% p.a. to 4.45% p.a., depending on car brand, borrowing amount, and period
Stamp Duty
Consent Letter
JPJ Fees
Early Settlement Fee
Late Penalty Fee
1%  p.a of the outstanding balance


Minimum Annual Income
Minimum Age
  • 18 to 70 years old
Who can apply
  • Malaysians

More Information

Who is eligible for CIMB Hire Purchase-i?

You need to be at least 18 years of age and earn a minimum of RM2,000 a month to apply for this loan. If you're over 18 years old but under 21 years old, you may be asked to provide a guarantor.

I plan to get a used car, will this loan be suitable?

Yes! You will be able to finance the purchase of new or used passenger cars, and also unregistered reconditioned cars.

What are my monthly repayments?

CIMB Hire Purchase-i adheres to CIMB's own Shariah standards. Your lease payments will be predetermined by the bank using a flat interest rate, leaving you no room for a principal reduction or lowering interest rate charges. 

Otherwise, you can also choose a variable rate for your monthly instalments — that means your monthly repayments may go lower or higher throughout your loan tenure.

What is the worst that could happen if I do not make payments?

The worst scenario would be repossession of your vehicle by the bank and this will happen if you miss payments for two months in a row. Other than that, if you're a little late in making payment to your car loan, you can expect to be charged 1% interest per annum on the overdue amount.

Can I pay my car loan off early?

Yes, you may. There is even a rebate on the remaining unearned bank profit. You can check out the calculations in the Product Disclosure Sheet.

Great, what documents are needed for application?

Salaried Applicant:
  • Copy of NRIC & valid driving license
  • Latest 3-months salary slips, or
  • Latest 3-months Savings/Current account statements
  • Latest EPF statement or Income Tax Payment with a valid receipt
  • Copy of NRIC & valid driving license
  • Business Registration Certificate for sole Proprietor / Partnership
  • Copy of BR Renewal (Borang D/E)
  • Latest 3-months Savings/Current/ASB/ASN/Tabung Haji statement
  • Latest form B / EA or EPF statement

Tell me more about CIMB InstaApproval!

With CIMB InstaApproval, it only takes 1 minute to secure your dream car. The approval will be given upon submission of complete documents with stable internet connection. Your car dealer will also be notified upon approval. Application is simple and paperless as you only need to apply using your NRIC.

Am I eligible to apply for CIMB InstaApproval?

As long as you are a salaried employee with a payslip and/or EPF statement, you are eligible.

Regardless, do ensure that there isn't any form of misrepresentation to the information and documentation you've provided to the bank to avoid your auto financing being withdrawn and/or cancelled.

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