How much money can I finance?
OCBC Al-Amin Cash Financing-i offers personal financing from as low RM6000 with repayment terms from two to maximum ten years.
How much does this personal financing cost?
OCBC Al-Amin does not charge any processing fee!
What do I need to apply for this personal financing?
OCBC Al-Amin Cash Financing-i is an unsecured financing therefore you do not need a guarantor or deposit as collateral in case you are unable to pay back your financing.
You will need to provide supporting documents with your application
- Copy of MyKad (front and back).
- 1-month salary slip.
- 1-year EPF statement.
How do I get my hands on the money?
Your financing facility approval takes a few business days to process. The bank will call you if your application is successful.
The approved funds will be transferred to the account of your choice as stated in the application form.
How do I pay the money back?
You will start repaying your financing instalment on the date stated in the Bank’s payment schedule, which is usually a month following the date you received the cash.
Instalments must be paid monthly as per the schedule until the financing is fully repaid. Failure to pay on time will cost you 1% p.a. of the amount in arrears.
What if I pay more than the monthly instalment?
The additional money will be treated as an advance payment to your next financing instalment. It will not reduce your financing principal and you cannot withdraw the money.
Can I pay my OCBC Cash Financing-i off early?
Sure you can! You may settle your financing at any time you wish. If you settle your financing in the first half of its tenure, you will be charged an early termination fee of RM150 or 2.5% of the total amount financed, whichever is more.
If you settle your financing in second half of its tenure, the bank will grant you a rebate - that means you actually will be rewarded for being early.
Is OCBC Cash Financing-i Syariah compliant?
Yes, OCBC Cash Financing-i is compliant with the Bai Al-Inah Syariah standard.