Being one of the forerunners in Islamic banking services in Malaysia, CIMB Islamic Bank offers many different personal banking products which are compliant to the principles of Shariah. One of them is CIMB Islamic PETRONAS MasterCard which offers rebate for petrol spending and other benefits.
7% Petrol Rebate
CIMB Islamic PETRONAS MasterCard’s main purpose is to reward cardholders with cash rebates for petrol spending. Cardholders will receive a 7% cashback on transactions at any PETRONAS fuel stations in Malaysia if the statement balance is RM3000 and above. Also, you will receive 3% cashback if the statement balance is below RM3000. The amount of cashback for this category is capped at RM50 per month.
More Cash Back
The rewards do not stop there. Cardholders also get to earn 0.2% rebate on all other retail transactions charged to CIMB Islamic PETRONAS MasterCard. That way, cardholders can save more from their daily spending.
The benefits of CIMB Islamic PETRONAS Gold MasterCard are fully Shariah compliant. This is evident with its unique Yearly Facility Charges (YFC) which is not found in other credit cards. YFC is the maximum amount of interest chargeable to cardholders if they pay only the minimum monthly payment.
This concept is similar to the annual percentage rate ( APR) featured in non-Islamic credit card but still complies with the underlying principles of Islamic banking which prohibits the acceptance of interest for loans of money.