Tell me about UKHWAH Cash-i.
UKHWAH Cash-i is an Islamic personal loan which follows the guideline of Shariah law. UKHWAH Cash-i is not a common personal loan product you can find in the mainstream market for several reasons:
First off, it is offered via Koperasi UKHWAH Malaysia Berhad (Ukhwah), a licensed cooperative under Akta 502 (Akta Koperasi 1993) Malaysia. Unlike banks, cooperative tends to be more lenient when assessing their applicant, as long as you meet the minimum requirements.
Then, it offers a higher financing limit, longer repayment tenures and charges fixed profit rates - very much like what banks do but without the occasional base rate revision.
How much can I borrow from UKHWAH Cash-i?
You can borrow any amount between RM2,000 to RM200,000, and repay them over flexible tenures, from 2 years to 10 years. Your total financing amount will be charged with tiered profit rates based on the tenure of choice:
|Financing Amount (RM)||Tenure (Months)||Profit Rate (flat p.a.)|
|2,000 - 200,000||24 - 36||4.35%|
|2,000 - 200,000||48 - 120||4.99%|
Once your UKHWAH Cash-i personal financing has been approved, you will receive up to 90% of the total amount applied, less all relevant charges upfront.
How do I repay my UKHWAH Cash-i personal financing?
Ukhwah requires you to setup Biro Perkhidmatan Angkasa (BPA) deduction for the payment of UKHWAH Cash-i monthly instalments. It is also worth noting that you must not exceed 60% of your gross income for this deduction.
Who is eligible to apply for UKHWAH Cash-i personal financing?
UKHWAH Cash-i opens to all government servants, employees of government-linked companies, statutory bodies and DBKL only. You will also need to meet the requirements as follows:
- Malaysians, Malaysian Residents or PR;
- Must be at least 19 years old and not more than 56 years old;
- Must earn a minimum monthly income of RM1,500;
- Must be employed in the civil sector for a minimum of 6 months.
For CTOS / CCRIS blacklisted, you can still try your luck applying for UKHWAH Cash-i, and will be bound to terms and agreements.
Why should I apply for UKHWAH Cash-i personal financing?
There are many reasons which keeping you awake at night, and debts could be one of them. Therefore, UKHWAH Cash-i can be used for debt consolidation from other financial institutions, among other financial needs. Plus, no guarantor is required!
That's not all, you can also enjoy the benefits of UkhwahCare memberships, ranging from hospitality services, financial assistance, Takaful products, will writing etc should you wish to join at small monthly fees.
Where can I apply for UKHWAH Cash-i personal financing?
You can apply for UKHWAH Cash-i personal financing here at RinggitPlus by clicking the APPLY NOW button and expect a call from Ukhwah within 5 working days to complete your application. In the meantime, you can prepare the following supporting documents:
- 3 copies of MyKad (front and back);
- Letter of Employment;
- Latest 3-months validated salary slips;
- 1 copy of Bank Rakyat or Maybank passbook / account statement;
- Statement of Outstanding Completion (if any).
- 5 copies of Allotment Form for applicants from Sabah and Sarawak
- DBKL employee must obtain Emolument Form from Salary Department
- Retiree Form (Surat Opsyen Bersara) for applicants 50 years and above