Bank Islam Flat Rate Personal Financing-i Package

For employees in the public sector: consolidate all your debt, renovate your home or pay for immediate needs with a fast approval Shariah compliant personal financing from Bank Islam

Bank Islam Flat Rate Personal Financing-i PackageFlat Profit Rate
Profit Rate
from 5.99% p.a.
up to RM200k
up to 10 years
Loan Type
Unsecured Islamic Financing
Min. Income

Loan calculator

Profit rates

How much the bank charges you based on your loan amount & loan period

Financing ValueFinancing periodYour incomeProfit Rate
RM10,000 - RM200,00012 to 120 monthsmin. RM24,0005.99% p.a. - 8% p.a.

Fees & Charges

Profit Rate / APR
As low as 5.99% p.a., depending on financing amount and period
Processing Fee
Stamp Duty
 0.5%  of the whole amount
Early Termination Fee
Late Penalty Fee
 1%  from current outstanding amount
Mode of Payment
You must pay your financing installment by salary deduction


Minimum Annual Income
Minimum Age
  • 18 to 60 years old
Who can apply
  • Malaysians
  • Government employee
  • Government-Linked Company employee
  • Public Listed Company employee
  • Salaried employee

More Information

Who can apply for Bank Islam Personal Financing-i Package?

Only Government employees, employees of Government Linked Companies and Public Listed Companies as well as employees in selected private limited companies can apply for this product. You need to earn RM2,000 and above every month to qualify for this flat rate personal financing.

What is so great about this Islamic personal loan?

This personal financing is calculated based on a flat rate basis. Meaning, your monthly instalments will be fixed throughout the periods of borrowing and will not be affected by the movement of Bank Islam's IBR.

Depending on your credit assessment and Bank Islam's approval, you can borrow any amount between RM10,000 up to RM200,000 and be charged a low flat profit rate per annum.

The period of borrowing of this personal financing is up to ten (10) years or upon reaching age of retirement, whichever is earlier.

Bank Islam does not charge any hidden fees. The only charges you must pay is the government Stamp Duty, which is calculated at 0.5% of the total amount borrowed, and a Wakalah (Agency) Fee of RM50.

Does Bank Islam require Advance Payment?

Although the concept is unheard of in any personal loan products in the market, Bank Islam, however, requires you to make advance payment, which is equivalent to 2-months instalment. 

Advance payment will be used to offset the instalment payment for the first 2 months, which gives you some room for savings as well.

How do I repay my monthly instalments?

Your personal financing repayments will begin once you have made full disbursement of the money from your bank account. The repayments are scheduled every month until full settlement of the financing. 

Should you late on your payment, Bank Islam has the rights to charge you a penalty (Compensation Fee) of 1% p.a.

Bank Islam requires you to arrange either Salary Deduction, Salary Transfer with Auto Fund Transfer or Standing Instruction for the monthly instalment payments.

Can I make an early settlement on my personal financing?

You can choose to settle your personal financing anytime before maturity as there is no lock-in period. In fact, you will receive an Ibra’ (rebate) which is equivalent to the remaining profit charges at the time of settlement. No penalty will be charged for early settlement.

What documents are required for the Bank Islam Personal Financing-i Package application?

As this is an unsecured personal financing package, you don't need to standby a guarantor, deposit or collateral to back your application up. To apply, you will be asked to provide supporting documents:

  • Copy of MyKad (front and back);
  • Latest 3-months salary slips;
  • Latest 3-months bank savings account passbook or current/savings account statement;
  • Latest employer's confirmation letter;

And one of the followings:

  • EPF statement;
  • Latest income tax form (Form B or Form EA/EC).

Am I qualified to apply for Bank Islam personal financing if I'm blacklisted?

Depending on your credit history with other financial institutions because all these information (outstanding credit card, personal loan, home loan or car loan debts) will be captured in CCRIS / CTOS (a system that collect credit information on borrowers, not blacklisting them).

Assuming you have poor credit standing due to irregular payments, the best course of action would be to break the habit and start making your payments on time to avoid future hurdles.

Ban Islam 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.