MBSB

MBSB Pakej Waslah

An unsecured, flat rate, Islamic personal loan for Government sector workers.

    • Financing up to RM200k
    • Up to 20 years tenure
    • Unsecured Islamic Financing
    • Takaful insurance required
  • Borrow: RM 
    How Long: years
    My monthly income: RM  

    Monthly repayment: RM-

    Profit rate p.a.: -%

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Interest Rates

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

Financing ValueFinancing PeriodYour IncomeProfit Rate
RM3000 - RM20000072 to 240 monthsmin. RM84005.5% p.a.

Fees & Charges

There are always fees but how much are they?

Profit Rate / APR
As low as 5.5% p.a., depending on financing amount and period
Late Payment Charge
None
Mode of Payment
You must pay your financing installment by salary deduction.
Insurance
You must take takaful insurance with this financing.

*inclusive of 6% GST

Requirements

Are you eligible for this personal financing?

Minimum annual income
RM8400
Minimum age
19 years old
Maximum age
58 years old
Who can Apply
  • Malaysians
  • Government employee
  • Government-Linked Company employee

Frequently Asked Questions about MBSB Pakej Waslah

Things you might want to know

How to apply for MBSB Pakej Waslah Personal Financing

Who is eligible for MBSB Pakej Waslah Personal Financing?

Only employees of Government and Government Linked Companies may apply for this personal loan product.

How much money can I borrow?

With MBSB Pakej Waslah you can borrow anything between RM3,000 and RM200,000. Repayment terms range from three to twenty 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, this 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.

Salaried Employee

  • 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 Pakej Waslah Personal Loan 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 Pakej Waslah Personal Financing Syariah compliant?

Yes, this personal finance product is compliant with MBSB’s Syariah standards.

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