What can I do with CIMB Xpress Cash Financing-i?
Finance your dream with an unsecured personal financing from CIMB; whether to see your child pursuing higher education in flying colors, or starting a business, or renovating your home, or multiplying your wealth through investments in unit trusts or property.
CIMB Xpress Cash Financing-i makes it nearly possible for you to achieve any of those, and even more - as long as it is reasonable for the bank to consider, as much as it is manageable for you too.
How much money can I borrow from CIMB Islamic?
With CIMB Xpress Cash Financing-i, you can borrow between RM3,000 and RM50,000 over flexible repayment terms from 6 months to 60 months. In most cases, you will not be allowed to borrow more than 8x your monthly gross salary.
As per standard, CIMB Islamic will run a credit check using your personal details you before assigning the final borrowing amount and profit rate. Once approved, you will receive your cash in few working days.
What is my monthly obligations for this personal financing?
Following a full withdrawal of your CIMB Islamic personal financing, you are required to start paying your instalment in amortization. Based on your CIMB Islamic instalment table, your repayments commence every first day of the month until the total outstanding principal amount is repaid.
You must make your monthly instalment payment via Standing Instruction. Should you late on your repayment, CIMB Islamic will charge you a compensation fee of 1% on the instalment amount in arrears.
Can I fully settle my CIMB Islamic personal financing early?
You can end your Islamic personal loan contract anytime during the tenure by writing to CIMB Islamic a one (1) month notice before you make your final payment.
There is no penalty for early settlement; however, an Ibra’ (rebate) on the profit charged for the total personal financing will be granted to you.
Why should I get CIMB Xpress Cash Financing-i again?
If you want to reach your goals sooner than you have planned, CIMB Islamic can help expedite your dream with its Shariah compliant personal loan via a hassle-free application process.
Once you have submitted all required documents, CIMB Islamic may take few business days to process your application, approve and transfer the money into your bank account.
Plus point: you will receive a 100% disbursement, meaning there is no processing fee on this personal loan. The only statutory fee you need to pay is the government Stamp Duty on the amount you borrow.
What documents I need prepare for this CIMB Islamic personal loan application?
First, you need to be at least 21 years old and have a minimum monthly income RM2,000 to qualify for this CIMB Xpress Cash Financing-i. On application you will be asked to provide supporting documents:
Salaried Employee (fixed and variable income):
- Copy of MyKad (front and back); AND
- Latest 3-months salary slip; OR
- Latest 3-months salary credited bank account statement; OR
- Latest 6-monthEPF statement; OR
- Latest Form BE / e-Form BE, with valid tax payment receipt; OR
- Latest EA Form
- Copy of MyKad (front and back); AND
- Business Registration Certificate; AND
- Latest 6-months Company's bank statements; OR
- Latest Form BE / e-Form BE, with valid tax payment receipt.
- Latest 6-months commission statements and bank statements (for commission earner).
Am I qualified to apply for CIMB Islamic 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.
CIMB 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.