Bank Islam

Bank Islam Floating Rate Personal Financing-i Package

No hidden charges, no guarantor, no deposit and no processing fee personal financing with up to RM200,000 financing limit and competitive floating rate.

    • Financing up to RM200k
    • Up to 10 years tenure
    • Unsecured Islamic Financing
    • Takaful insurance required
  • Borrow: RM 
    How Long: years
    My monthly income: RM  

    Monthly repayment: RM-

    Profit rate p.a.: -%

Apply online now for Bank Islam Floating Rate Personal Financing-i Package

RinggitPlus will help you every step of the way.

By typing your contact information, you agree to our terms & conditions. We respect your privacy and are committed to handle your personal information safely and responsibly.

You've almost completed your application for Bank Islam Floating Rate Personal Financing-i Package

To help you better we need to know a little bit more about your application.
Confirm your application

Oops. We can't seem to get a quote for you for a while there. Please click "Get Quote" again.

Please fill in all fields and enter a valid email

Thank you for applying with RinggitPlus!

We’ve sent you an email to help with your application.

Continue to Bank Islam website

If you have any questions let us know at can@ringgitplus.com, we'd love to help!

Follow us to keep in touch and not miss out on offers and promotions.

Not the personal financing you're looking for? Did you know you can compare all the personal financing in Malaysia?

Profit rates

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

Financing ValueFinancing PeriodYour IncomeProfit Rate
RM10000 - RM20000012 to 120 monthsmin. RM240005.7 - 6.8% p.a.

Fees & Charges

There are always fees but how much are they?

Profit Rate / APR
from 5.7% p.a. to 6.8% p.a. , depending on financing amount and period
Processing Fee
None
Stamp Duty
0.5% of the whole amount
Early Termination Fee
None
Late Payment Charge
1% from current outstanding amount
Mode of Payment
You must pay your financing installment by salary deduction.
Insurance
You must take takaful insurance with this financing.

Requirements

Are you eligible for this personal financing?

Minimum annual income
RM24000
Minimum age
18 years old
Maximum age
60 years old
Who can Apply
  • Malaysians
  • Government employee
  • Government-Linked Company employee
  • Public Listed Company employee
  • Salaried employee

Frequently Asked Questions about Bank Islam Floating Rate Personal Financing-i Package

Things you might want to know

Am I qualify to apply for Bank Islam Personal Financing-i facility?

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 upward of RM2,000 every month to qualify for this floating rate personal financing.

What can I get from this floating rate personal financing package?

This personal financing facility is calculated based on floating or variable rate basis, which is pegged to Islamic Base Rate (Bank Islam's benchmark profit rate). The plus side of this personal financing is that you get to take advantage of the decline in the Islamic bank's benchmark rate.

This floating rate personal financing offers borrowing amount between RM10,000 to RM200,000 with repayment period of up to 10 years or age of retirement, whichever is earlier. 

The outcome of a credit check undertaken by Bank Islam will determine the maximum financing limit of your borrowing - make sure you keep a solid repayment habit!

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 month, which giving you some room for savings as well.

How do I repay my monthly instalments?

Your personal financing repayments will begin after you have received and disbursed the money from your bank account. The repayments are scheduled every month until full settlement of the financing.

Don't be late on your monthly payment as Bank Islam has the rights to charge you 1% p.a. Ta'widh, or penalty, on the outstanding balance. 

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

What documents are required to apply for this floating rate personal financing?

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).

If you have a poor credit standing, you need a reality check, which is changing the habit of delaying your instalment payment with any financial institutions moving forwards.

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.

Read More