How to apply for MBSB Exec-i Personal Financing
Who is eligible for MBSB Exec-i Personal Financing?
Only executive employees of Government and Government Linked Companies may apply for this personal loan product.
How much money can I borrow?
MBSB Exec-i offers loans between RM3,000 and RM300,000. Repayment terms are from two to ten years. All applications are credit checked prior to the bank approving a loan amount, in most cases your fixed monthly repayment must be less than 60% of your monthly salary.
How much does this personal loan cost?
MBSB does not charge any processing fees, or Stamp Duty. You will need to take Takaful insurance cover which is charged at 3% of the total cost of your loan.
What do I need to apply for this personal loan?
You don’t have to pay a deposit or find a guarantor when you make your application but you will need to give MBSB supporting documents.
- Copy of MyKad (front and back).
- Latest three month’s salary slips.
- Latest six month’s current or savings account statements.
- Supporting letter from your Head of Department.
How do I get my hands on the money?
Financing takes a few business days to process. Once approved your borrowed funds will be transferred to the account of your choice.
How do I pay the money back?
Your schedule for repayments will be set out in your loan agreement. Payments must be deducted from your salary each month.
Can I pay my MBSB Exec-i off early?
Yes, you can settle your complete loan before it is due. You will need to give one months notice to MBSB and you will be charged an Early Termination Fee equal to 5% of the total loan amount.
Is MBSB Exec-i Syariah compliant?
Yes, this personal finance product is compliant with MBSB’s Syariah standards.