|Condition||Maximum Years||Margin of Finance||Interest rate|
|New||9 years||90%||3.38% p.a.|
How much the bank charges you based on your loan amount & loan period
KFH Automobile Ijarah-i is an Islamic hire purchase that extends up to a 90% margin of financing for the purchase of a new car or a superbike, regardless of personal or commercial use. The mechanic of this car financing is similar to a conventional hire purchase, such as:
Once you have fully paid for the facility, you will enter into a contract of purchase with KFH, which ultimately claims the ownership of the vehicle.
Most customers will look for a financing package that offers a competitive profit rate and fast approval – that's how KFH Automobile Ijarah-i lives up to its name. Besides, you have the convenience to sign up for a comprehensive Motor Takaful through KFH's panel of operators.
KFH also provides a slew of easy payment channels for you to repay your monthly instalment, either via online banking, cash deposit, MEPS or over-the-counter at KFH branches.
Once you have agreed to the financing agreement, you will receive your total approved applied amount compounded with profit charges. This amount will then be divided into equal instalments payable every month.
If you're late on your repayment, the bank will charge you 1% per annum on the overdue amount, calculated daily. Worst, they can also repossess your car if you fail to make your payments for two months in succession.
Unfortunately, no you can't.
If you're Malaysian or hold permanent resident status, you can apply for this car loan. If you are less than 21 years old you will require a guarantor to provide security for your application and loan.
There's also no minimum income requirement if you want to finance your new car, so long as you have a valid proof of income to the Bank, then it should suffice.
However, for superbike financing, you must have a gross personal income of RM7,000 per month.
Guarantor (if applicable):
We’ll guide you through your application for this financial product