KFH

KFH Ijarah Mawsufah Fi Al-Zimmah Asset Acquisition Financing-i

The developer's mortgage - a comprehensive Islamic home loan created especially for people buying properties under construction

    • Up to 35 years
    • Term Islamic financing
    • Floating Profit Rate
    • Up to 90% margin of finance
    • 30 days approval
  • You BorrowEstimated Profit Rate
    RM100000 - 2499994.79% p.a.
    RM250000 - 4999994.59% p.a.
    more than RM5000004.99% p.a.

    *Effective profit rate will be determined by KFH upon approval.

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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
RM212.00
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
  • House Owner Takaful

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

Requirements

Are you eligible for this KFH home financing?

Minimum annual income
RM24000
Minimum age
18 years old
Maximum age
70 years old
Who can Apply
  • Any nationality
  • Salaried employee
  • Self-employed

Frequently Asked Questions about KFH Ijarah Mawsufah Fi Al-Zimmah Asset Acquisition Financing-i

Things you might want to know

What is KFH Ijarah Mawsufah Fi Al-Zimmah Asset Acquisition Financing-i?

First and foremost, this is an Islamic home loan for properties which are under construction. It's based on the concept of Ijarah Mawsufah Fi Al-Zimmah, i.e. a financing by way of predetermined rental as a forward lease.

OK, let's explain that in words everyone can understand: basically it means your monthly mortgage payments are considered as 'rental' until the final payment is made. Eventually, full ownership will be handed over to you via a separate transaction - or in other words, lease-to-own.

Kuwait Finance House offers finance up to 90% of the property value, plus an additional 5% if you include the MRTT. They can also supplement financing with zero moving cost (ZEC) to cover your entry cost - the usual legal fees and stamp duty.

I'm concerned about my repayments, how are they calculated?

The profit rate for this Islamic mortgage is based on a floating rate, meaning it has a tendency to rise when the KFH's IBR increases. The bright side is, you'll pay less when the bank revises its IBR lower than its current benchmark rate.

Do I need Takaful cover for KFH home financing?

House Owner Takaful is an absolute must, whereas MRTT is optional. As a gift for going above and beyond your monthly repayments by including insurance, you will be able to receive a rebate upon early settlement for any remaining Takaful premium charges.

What do I need to apply for this Islamic home loan?

Applications may be made as an individual, or a joint partnership. You'll need to provide a bunch of documents though..

Salaried employee:

  • Identity Card
  • Latest payslip
  • Personal Bank Statement
  • EPF statement
  • EA form

Self-employed:

  • Certificate of business registration
  • B/BE form
  • Personal bank statement
  • Business bank statement

Variable income applicant:

  • Commission payment/statement
  • Annual commission payment
  • Personal bank statement
  • BE form

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