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 RM300k
up to 10 years
Loan Type
Unsecured Islamic Financing
Takaful Insurance
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 - RM300,00012 to 120 monthsmin. RM24,0005.99% 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
You must take takaful insurance with this financing


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?

Bank Islam Personal Financing-i Package is only open for government employees, employees of Government Linked Companies and Public Listed Companies as well as employees in selected private limited companies.

You need to earn RM2,000 and above every month to qualify for this flat rate personal financing.

What can I get from Bank Islam personal loan?

You can apply any amount between RM10,000 to RM300,000 from this Islamic personal financing at competitive profit rates calculated on a flat rate basis. 

When you take this financing with Takaful Coverage, you'll get to enjoy lower profit rate of 4.99% p.a.. However, if you opt without the Takaful Coverage, the profit rate is 5.99% p.a..

On a special note, 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 an advance payment, which is equivalent to 2-months installment. 

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

How do I repay my monthly installments?

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

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

Can I make an early settlement on my Islamic personal loan?

You can choose to settle your Islamic personal loan 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 application?

As Bank Islam Personal Financing-i Package is an unsecured loan, 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-i Package 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.

Bank 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.