MBSB

MBSB Personal Financing Afdhal-i

MBSB personal financing for public and private sector employees at flat profit rate. Get up to RM400,000-worth of financing to meet your financial needs!

    • Financing up to RM400k
    • Up to 10 years tenure
    • Unsecured Islamic Financing
  • Borrow: RM 
    How Long: years
    My monthly income: RM  

    Monthly repayment: RM-

    Profit rate p.a.: -%

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Profit rates

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

Financing ValueFinancing PeriodYour IncomeProfit Rate
up to RM40000024 to 120 monthsmin. RM240004.4% p.a.

Fees & Charges

There are always fees but how much are they?

Profit Rate / APR
As low as 4.4% p.a., depending on financing amount and period
Processing Fee
RM36.04, for Wakalah Fee
Early Termination Fee
Subject to terms and agreement with the bank
Late Payment Charge
1% from current outstanding amount
Mode of Payment
You must pay your financing installment by salary deduction.

All fees & charges are inclusive of 6% GST if applicable

Requirements

Are you eligible for this personal financing?

Minimum annual income
RM24000
Minimum age
19 years old
Maximum age
60 years old
Who can Apply
  • Malaysians
  • Contract Government Staff
  • Salaried employee
  • Public Listed Company employee

Frequently Asked Questions about MBSB Personal Financing Afdhal-i

Things you might want to know

MBSB Personal Financing Afdhal-i is a Shariah compliant personal loan that follow the Islamic contract of Tawarruq, with profit rate calculated on a floating and monthly rate basis.

Who can apply for MBSB personal financing?

This Islamic personal loan (Pinjaman Peribadi Afdhal-i) is open to contract government servants, selected public listed companies (PLCs) and private sector companies' employees, as well as high income individuals. 

To qualify for Afdhal-i personal financing, you must meet the following requirements:

  • must be a Malaysian citizen;
  • must be minimum 19 years old to maximum 60 years old, upon expiry of the facility;
  • must be working in the Government and selected PLCs and private companies.

How much money can I borrow from Afdhal-i?

You can borrow any amount up to a whopping RM400,000 - the highest financing margin for a personal loan in the market. The repayment period for Afdhal-i personal financing is flexible between 2 to 10 years.

The cost for obtaining Mumtaz-i personal financing is affordable as there are no hidden fees and charges. You only need to pay a Wakalah Fee of RM34 and 6% GST, where applicable.

You will receive your approved money in no time, provided that you have met all borrowing requirements and submitted all relevant documents.

How do I pay for my monthly instalment?

You can arrange your monthly instalment payment via salary deduction from Biro Perkhidmatan Angkasa (BPA) or Accountant General (AG) for an easy and hassle free repayment. Besides that, you can pay via cash at MBSB branches or setup a Standing Instruction.

You can also make an early settlement of your Afdhal-i personal financing and receive an ibra' (rebate), however subject to terms and agreements with MBSB.

Do I need a Takaful coverage?

You are advised to sign up for the Group Credit Family Takaful to cover for the liability of indebtedness in the event of death or permanent disablement. The contribution amount will be deducted upfront from the financing amount.

You can apply for a Takaful coverage via MBSB's panel of Takaful providers or your own choice.

Why should I apply for MBSB Personal Financing Afdhal-i again?

There are many contributing factors to consider for MBSB Personal Financing Afdhal-i application, such as:

  • Low flat rate of 4.40% p.a. for the whole period of borrowing;
  • Higher financing limits of up to RM400,000;
  • Longer and flexible repayment tenures up to 10 years; and
  • No guarantor and collateral required.

What documents are required to apply for Afdhal-i personal financing?

There are a few documents that you would need before making your way to the nearest MBSB branch:

  • Copy of MyKad (front and back);
  • Latest 3 months salary slip;
  • Latest EPF Statement or EA Form or BE Form, with tax payment receipt;
  • Latest 3 month Current Account or Savings Account statement (salary crediting bank account);
  • Confirmation Letter from Employer;
  • Employer Salary Deduction Form (For AG and State AG); and
  • Application Form

Am I qualified to apply for MBSB 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.

MBSB 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.

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