Fast Approval(Last updated: 1 September 2026)
What is Sun Gate Credit Personal Financing-i about?
Sun Gate Credit Personal Financing-i is an unsecured, Shariah-compliant financing facility based on Commodity Murabahah (“Tawarruq”).
Sun Gate Credit Sdn. Bhd. (Registration No. 201701039415 (1253586M)) is a KPKT-licensed moneylender (WL6366/14/01-7/150528).
What is the concept of Commodity Murabahah (“Tawarruq”)?
Sun Gate Credit buys a Shariah-compliant commodity and offers it to you at a fixed price. That price includes the principal financing amount and an agreed profit amount. You repay this total across a set period. Sun Gate Credit serves as your agent to transfer the commodity to a third party for cash. The cash received is then placed into your bank account.
The profit is applied at the start of the contract instead of accruing over time. Because the profit is built into the initial selling price, your repayment amount stays constant throughout the agreement.
What can I do with this personal financing?
You can borrow from RM500 to RM50,000 and use the financing only for lawful, Shariah-compliant personal purposes, such as emergency expenses, home renovations, medical costs, and similar expenses. Note that the funds can't go toward anything non-halal or related to non-halal activities or expenses.
What is the profit rate and how is my instalment calculated?
Sun Gate Credit charges 18% per annum on a fixed, flat rate. This means profit is calculated on the full principal for the entire financing period, not on the decreasing balance as you make repayments.
Formula: I = (P + P×R×T)/M
Where:
P = Principal Financing Amount (RM 10,000.00)
R = Annual Flat Profit Rate (18% / 0.18)
T = Financing Tenure in YEARS (e.g., 2)
M = Total Repayment Period in Months (24)
A RM10,000 financing with a 24-month tenure generates RM3,600 in total profit. The total repayment sum is RM13,600, which works out to RM566.67 each month. This calculation does not include fees. Your actual monthly repayment will vary slightly once stamp duty and other charges are added.
Since flat-rate profit is charged on the full principal throughout the tenure, the true annual cost is higher than the stated 18%. Note that the Effective Profit Rate (EPR) changes with tenure, so a different financing tenure will produce a different EPR.
- 12 months: 31.72% p.a.
- 18 months: 31.76% p.a.
- 24 months: 31.46% p.a.
- 30 months: 31.04% p.a.
- 36 months: 30.59% p.a.
What are the fees or charges that are applicable?
- Stamp Duty: In accordance with the Stamp Act 1949 (Revised 1989)
- Late Penalty Fee: 8% p.a. on the overdue instalment amount
If you cancel the approved financing before disbursement, you're required to pay all costs, if any, incurred by Sun Gate Credit for the preparation and registration of security documents.
Do I have to sign up for Takaful coverage?
No. Takaful coverage is optional.
Can I settle my financing early?
Yes, but only after six months from your financing start date. Check these details directly with Sun Gate Credit before you plan to pay off your financing.
What happens if I'm late in my repayments?
A late penalty fee of 8% per annum will be applied until you settle the overdue instalment amount in full.
Who is eligible to apply for Sun Gate Credit Personal Financing-i?
Any Malaysians aged 21 to 55 years with a minimum monthly salary of RM1,700 are eligible to apply.
A guarantor isn't required by default, though Sun Gate reserves the right to ask for one depending on your individual credit assessment.
What documents should I prepare?
- Latest 3 months' payslips
- Latest 3 months' bank statements
- Latest 12 months' EPF statements
- 1 month's utility bill
- Your valid IC (front and back)
How do I contact Sun Gate Credit for details?
Gombak Branch
No. 36A, Jalan Jernai 3, Medan Idaman, Batu 5, Gombak, 53100 Kuala Lumpur
KPKT Licence No.: WL6366/14/01-7/150528
Office Tel: +603 4024 8688
WhatsApp: +6010 240 0028
Email: [email protected]
Sun Gate Credit Sdn Bhd (Registration No. 201701039415 (1253586-M))
