MBSB Standard Home Financing-i

Get finance up to RM500,000 with MBSB Bank and get zero processing fee, high margin financing, competitive rate and flexible repayment

MBSB Standard Home Financing-i
Tenure
Up to 35 years
Profit Rate
from 7.1% p.a.
Loan type
Term islamic financing
Interest Type
Floating profit rate
Margin of finance
up to 90%

Profit Rate

The interest paid based on the home loan amount borrowed

You borrowEstimated Profit Rate
up to RM500,0007.1% p.a.
*Effective profit rate will be determined by MBSB upon approval.

Requirements

Minimum Annual Income
RM24,000
Minimum Age
  • 18 to 40 years old

Fees & Charges

Late Penalty Fee
1% p.a. p.a. of the outstanding amount
Processing Fee
This fee is currently waived
Early Settlement Fee
Not applicable
Redemption Letter Fee
RM50 per request
Letter for EPF Withdrawal Fee
RM50 per request
Insurance Types
  • Fire Takaful
  • MRTT

More Information

What is this product about?

For individuals who is interested to finance or refinance their residential property, MBSB Standard Home Financing-i provides you the facility for your financing solution.

Working on the Shariah concept of Tawarruq arrangement (deferred payment), MBSB can finance up to 90% of the property's purchase price or Open Market Value (OMV) - whichever is lower and can be repaid over instalments of up to 35 years.

Are there extra benefits from MBSB Islamic home loan?

Regardless of how much you earn every year, higher or lower, you can still apply for this Islamic mortgage from MBSB as there is no income restriction. 

 To make it more accessible for you to obtain the fund, the bank will also waive fee on processing and cap the ceiling profit rate at 11%.

Moreover, your expenses on legal and valuation will also be alleviated with a subsidy of up to RM6,000 – making your home ownership journey less expensive and more meaningful.

What type of properties can be financed via this Islamic facility?

Any residential properties under construction and completed (landed or non-landed) ranging up to RM500,000 located in selected states in Malaysia can be financed via this Islamic home financing. 

You can also use this Shariah compliant mortgage to purchase houses from MBSB’s bridging developers.

Who can apply for MBSB Standard Home Financing-i?

Any individual or joint applicants aged between 18 and 40 years can apply for MBSB Standard Home Financing-i

What documents I need submit together with application form?

You need to complete the application form and supplement it with a copy of Sale and Purchase Agreement or Booking Receipts and following documents:

If you are an employee earning a salary:

  • A copy of NRIC
  • Latest 3 months’ salary slip
  • Latest 3 months’ salary crediting statement
  • Latest EPF statement
  • Latest BE Form and Tax payment receipt / EA Form
  • Letter of Employment
  • Sales and Purchase Agreement

If you are self-employed:

  • A copy of NRIC for Applicant (Director)
  • Business Registration / Form 9, 24, 49, B & D / M & A
  • Latest 3 years P & L Accounts / Audited / Management Accounts
  • Latest Form B + Tax payment receipt
  • Latest 6 months’ current account statement (Company & Personal)
  • Sales and Purchase Agreement