What is KFH Ijarah Mawsufah Fi Al-Zimmah Asset Acquisition Financing-i?
This is an Islamic home loan based on the concept of Forward Leasing, suitable to finance the purchase of property which is under construction. Simply put, your monthly mortgage repayments are considered as 'rental' until the final payment is made.
This home financing plan offers a competitive margin of financing of up to 90% of the property value, plus an additional 5% if you include the MRTT. In addition, you will also get a 20% reduction on Stamp Duty when you apply for this KFH home financing.
What are the profit rates for KFH home financing?
The standard profit rates for KFH home financing is as follows:
| Financing Amount | Package | Profit Rate |
| < RM250,000 | Affordable Home | BR + 1.39% p.a. |
| > RM250,000 | End Financing | BR + 1.05% p.a. |
| > RM500,000 | Property Financing | BR + 1.39% p.a. |
| > RM500,000 | Free Moving Cost | BR + 1.59% p.a. |
| > RM250,000 | Refinancing | BR + 0.95% p.a. |
Your final profit rate will be determined by KFH Malaysia after assessing your credit profile. You should also know that this profit rate is calculated monthly on a reducing balance method.
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
