Borrow Up To 10 Years!Start sowing the seeds for your business and realize your dream of becoming a successful agro-preneur in Malaysia with the help of Agrobank AgroCash-i unsecured personal financing for agriculture and agro-based activity.
Who can apply for Agrobank AgroCash-i?
This Islamic personal loan is open to permanent government employees and selected government-linked companies employees.
To qualify for an Agrobank AgroCash-i Islamic personal loan, you must meet the following requirements:
| Government Employee | GLC Staff | |
| Age | 18 to 60 years old | 21 to 60 years old |
| Monthly Income | RM1,000 and above | RM2,000 and above |
| Duration of Employment | > 6 months of service (confirmed or under probation) | > 1 year of service |
| BPA Deduction | < 60% of gross monthly income | < 50% of gross monthly income |
How much can I borrow from this Agrobank Islamic personal loan?
The maximum amount you can borrow from AgroCash-i is up to RM250,000** for government and GLC employees.
To enjoy high financing of up to RM250,000, you must meet the requirements such as:
- Open to government employees working in the Central Government, State Government and Statutory Bodies only
- Permanent and have served for at least 6 months
- The gross monthly income is based on the customer's financing eligibility (BPA deduction, DSR and Net Disposable Income)
- DSR must be up to 70% only (including housing financing applications)
Applicants working in the Federal Government will enjoy competitive profit rates such as the following.
| Tenure | Profit Rate |
| Up to 3 years | SBR + 3.45% p.a. |
| 4 - 10 years | SBR + 3.95% p.a. |
Moreover, applicants working for the State Government, Statutory Body, Pihak Berkuasa Tempatan (PBT) and GLC, you'll enjoy the below profit rates.
| Tenure | Profit Rate |
| Up to 3 years | SBR + 3.82% p.a. |
| 4 - 10 years | SBR + 4.27% p.a. |
Whereas applicants with an unsatisfactory credit assessment will get different profit rates such as below.
| Tenure | Profit Rate |
| Up to 10 years | SBR + 4.85% p.a. |
Note: Agrobank's current Standardized Base Rate (SBR) is at 3.00%.
Agrobank takes into account your credit history before determining your profit charges.
This is to see whether you have been keeping up with your loan repayments and have a clean status (no restructuring/refinancing of loans).
Agrobank AgroCash-i personal financing not only offers a higher financing limit and longer repayment tenures of up to 10 years but also promises you a fast approval application, provided you have met all borrowing requirements.
What are the fees and charges?
There is no processing fee for AgroCash-i personal financing. However, Agrobank charges you a Brokerage Fee of RM15 per transaction to facilitate each Tawarruq transaction.
Your financing amount will also be subjected to a Stamp Duty as per the Stamp Act 1949 (Revised 1989), deductible from the total approved financing amount.
How do I pay for my monthly instalment?
Your monthly instalment will be deducted directly from your salary account via Biro Perkhidmatan Angkasa (BPA) for easy and hassle-free repayment.
You can make an early settlement of your AgroCash-i personal financing at zero penalties. In fact, Agrobank will grant you an Ibra' (rebate).
Do I need Takaful coverage?
You are advised to sign up for Skim Takaful Kredit to cover the liability of indebtedness in the event of death or permanent disablement.
You can apply for Takaful coverage via Agrobank's panel of Takaful providers or your own choice.
Am I qualified to apply for Agrobank AgroCash-i if I'm blacklisted?
Depending on your credit history with other financial institutions because all this information (outstanding credit card, personal loan, home loan or car loan debts) will be captured in CCRIS / CTOS (a system that collects credit information on borrowers, not blacklisting them).
Assuming you have poor credit standing due to irregular payments, the best course would be to break the habit and start making your payments on time to avoid future hurdles.
Agrobank is more likely to approve your personal loan application if you can show that you are managing your personal finances, rather than accumulating more debt.
