MBSB

MBSB Personal Financing Mumtaz-i

Have a high interest bearing debt that you can't wait to get rid of? Settle it with this personal financing with profit rate as low as 3.40%p.a. with financing amount up to RM250000!

    • Financing up to RM250k
    • Up to 10 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
up to RM25000024 to 120 monthsmin. RM240003.66% p.a.

Fees & Charges

There are always fees but how much are they?

Profit Rate / APR
As low as 3.66% p.a., depending on financing amount and period
Late Payment Charge
1% from current outstanding amount
Mode of Payment
You must pay your financing installment by salary deduction.
Insurance
You must take takaful insurance with this financing.

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
  • Government employee
  • GLC employee

Frequently Asked Questions about MBSB Personal Financing Mumtaz-i

Things you might want to know

What is MBSB Personal Financing Mumtaz-i?

MBSB Personal Financing Mumtaz-i is a syariah compliant personal loan that references the Islamic concept of Tawarruq.It's a loan specifically for Government workers and employees of Government Linked Companies.

Who is eligible for this personal financing?

This loan is a an offer limited to Government workers and employees of Government Linked Companies. You'll need to have worked for your employer for a minimum of three years to be eligible for this loan.

Another version of this loan is available to employees of some Multinational companies and some companies in the Malaysia BURSA top 100 list. This version of the loan has a floating interest rate.

How much does this personal loan cost?

As this is an Islamic loan under the concept of Tawarruq, referring to trading of a commodity, you will also have to pay RM36.04 as a Sales Agent fee.

There is also stamp duty of RM10 for a standing instruction to deduct the monthly repayment from your bank account.

What documents are needed to apply for this personal loan?

You don’t have to secure the loan to any assets or find a guarantor as security but you will need to give MBSB supporting documents:

  • Copy of MyKad (front and back) and birth certificate.
  • 2 copies of your latest three month’s salary slips and it must be certified true copy by your boss or head of department.
  • Latest six month’s current or savings account statements or a copy of your saving passbook from the bank where your salary is debited.

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 your bank account.

How do I pay the back the loan?

Payments must be deducted from your salary each month so you must apply for a standing instruction to auto-transfer the monthly fixed installment once the loan is approved. The schedule for repayments will be stated in your loan agreement.

Can I pay this loan off early?

Yes, you can settle your loan completely before it is due. You will need to give one months notice to MBSB and you will be charged an Early Termination Fee.

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