Bank Islam

Bank Islam Baiti Home Financing

An affordable mortgage based on the Islamic concept of Tawarruq with lower interest rates in the early years of tenure to help you get into a new home

    • Up to 35 years
    • Term Islamic financing
    • Floating Profit Rate
    • 5 years lock in period
    • Up to 90% margin of finance
    • 30 days approval
  • You BorrowEstimated Profit Rate
    more than RM1000004.20% p.a.

    *Effective profit rate will be determined by Bank Islam upon approval.

Apply online now for Bank Islam Baiti Home Financing

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Fees & Charges

There are always fees but how much are they?

Late Penalty Fee
1% p.a. of the outstanding amount
Processing Fee
No Fee
Early Settlement Fee
Subject to terms of agreement with bank
Redemption Letter Fee
RM53.00 per request
Letter for EPF Withdrawal Fee
RM21.20 per request
Insurance Types
  • MRTT

All fees & charges are inclusive of 6% GST if applicable


Are you eligible for this Bank Islam home financing?

Minimum annual income
Minimum age
18 years old
Maximum age
70 years old
Who can Apply
  • Any nationality

Frequently Asked Questions about Bank Islam Baiti Home Financing

Things you might want to know

How does this mortgage work?

Bank Islam Baiti Home Financing is based on the principle of Tawarruq (Commodity Murabahah). Tawarruq is defines the purchase of an asset with deferred price, then selling that asset to a third party to get cash.

Subject to credit check and approval Bank Islam will be able to finance up to 90% of the value of your new house, whether complete or under construction. As opposed to other loans, for a property in some residential projects that are under construction you can enjoy No Payment During Construction for up to two years.

What are my monthly commitments?

Following conventional Islamic banking, your monthly installments are calculated based on the Profit Rate at which the bank is entitled to earn money for being a lender. The rate is determined by the IBR (equivalent to BR) and is variable, subject to change in the market.

Thankfully, the profit rate is capped at around 10.5% to hedge you from any sudden hikes in the IBR that might result in higher repayments. Bank Islam also offer a fixed multi-tier home loan in this financing package. You can enjoy interest rates from as low as 2.5% for the first year, increasing incrementally up to 7.5% for subsequent years.

Be reminded that if you are unable to service your repayments, it would be wise to contact Bank Islam to negotiate an alternative for payments and avoid foreclosure.

And the insurance? Do I need any?

By taking up MRTT insurance you will be covered should the unexpected occur. Takaful coverage will also have your back in the event of your death or Total Permanent Disability ( TPD). Fire insurance is compulsory.

What do I stand do gain from Baiti Home Financing?

  • Greater flexibility - you have the option to defer the payment of two monthly installments with a Payment Holiday every November and December.
  • Enjoy No Payment During Construction for up to two years for selected residential projects
  • Better costs savings with the exclusion of a processing fee and 20% discount on Stamp Duty for Perfecting The Bank’s Securities Documentation

What documents do I need to make a home loan application?

If you are an employee earning a salary

NRIC photocopy
Sales and purchase agreement
Photocopy of title head
Latest financing or loan statement
Latest 3 months salary Slips
Latest 3 months salary slips crediting account statements
Employer's confirmation letter
Annual income statement/ BE form/ EPF statement

If you are self-employed

NRIC photocopy
Company/Business registration
Latest 6 months bank statement
Latest 3 years financial statement
Latest Borang B

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