What is JCL i-Fund Personal Financing?
This is an unsecured Islamic financing by JCL Credit Leasing that's offered without collateral or guarantors.
What can I do with this financing?
Life is full of turns of events. Whether you can finally hire a professional to design your dream kitchen, or you’re sending your children to their dream university, or perhaps a medical emergency has just occurred, and you are at your wit's end, the JCL i-Fund Personal Financing can easily help bridge your financial gap.
How much can I borrow and what are the profit rates?
You can borrow from as low as RM500 up to the maximum financing amount of RM50,000 over flexible tenures between 12 and 60 months with the JCL i-Fund Personal Financing.
The facility is calculated on a flat-rate basis, ranging from 18% per annum to 20% per annum.
| Minimum Financing | RM500 |
| Maximum Financing | RM50,000 |
| Tenure | 12 months - 60 months |
| Profit Rate (Flat) | 18% p.a. to 20% p.a. |
How fast can I get my approved financing?
Once your JCL i-Fund Personal Financing application is approved, you can potentially get the approved loan amount as fast as three working days.
However, please note that this is subject to your eligibility criteria and JCL Credit Leasing’s underwriting requirements.
Are there any fees for this Islamic loan?
Yes, there are some fees that you need to pay. They are the Tawarruq Fee, Processing Fee, eMandate Transaction Fee, and Stamp Duty. You can find the details below, or if you need further information, please refer to the Product Disclosure Sheet.
- Stamp Duty: As per the Stamp Duty Act 1949 (Revised 1989)
- Tawarruq Fee: RM25.00
- Processing Fee: RM50.00 (plus RM4 SST)
- eMandate Transaction Fee: 1% capped at RM20 (transactional)
- Takaful Fee: RM24.30 - RM509.20 (“subject to Takaful Provider discretion on pricing and approval”)
Please note that the above charges will be deducted from the total financing amount, except the eMandate Transaction Fee.
Plus, if you decide to cancel the JCL i-Fund Personal Financing, you are responsible for paying JCL for all of the costs (if any) associated with the facility.
What happens if I fail to fulfil my monthly obligations?
You should always perform your monthly obligations promptly.
Should you miss your monthly instalment payment, you will be charged a Late Payment Fee of 1% per annum Ta’widh (Compensation), and 7% per annum Gharamah (Penalty) on the outstanding amount.
JCL Credit Leasing also reserves the right to set off any credit balances in your account against any outstanding balances.
Is Takaful required for this Islamic financing?
It is optional. If you are concerned with any unfortunate mishaps that might happen in the future, you can opt for your financing to be covered with JCL i-Fund Takaful Protection by FWD Takaful Berhad. This Takaful protects against death or TPD.
Not to mention, there will be a Takaful fee as well, only if you choose to provide coverage for your financing. The said fee is between RM24.30 and RM509.20, subject to the Takaful provider's discretion on the pricing and approval.
Am I eligible to apply for this JCL i-Fund Personal Financing?
Any Malaysian citizen is eligible. Doesn’t matter if you are a regular salaried employee, a commission earner, or self-employed; between the ages of 18 and 60 years, you can apply for this JCL i-Fund Personal Financing.
The minimum gross monthly income eligible for the application is only RM1,000.
What documents do I need to apply for this personal financing?
Together with your application form, kindly provide the following supporting documents as well for easier processing.
Salaried employee:
- Copy of IC (both sides)
- Latest 3-months payslips
- Latest 3-months bank statement
- Latest utility bill (Electricity/Water)
Self-employed:
- Copy of IC (both sides)
- Latest SSM
- Latest 6-months company bank statement
- Latest 3-months personal bank statement
- Latest utility bill (Electricity/Water)
