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Bank Muamalat Home Financing-i

  • icon Interest Rate
    Profit Rate
  • icon New Base Rate
    New Base Rate
    3.20 %
  • icon Loan Type
    Loan Type
    Term Loan
  • icon Lock in Period
    Lock in Period
    None

icon New Base Rate Home Financing Calculator

RM
year(s)
Profit Rate
You Pay
RM /mth

Whats so great about Bank Muamalat Home Financing-i?

  • 100% stamp duty exemption for redemption

  • Fully-Shariah compliant product

icon Eligibility

Loan Tenure: Up to 35 Years OR Age 70 whichever is lower
Margin of Finance: Up to 90%+10% MCRE
Suitable for: Completed & under-construction properties, refinancing

Review by iMoney

  • SMART Mortgage home financing offered by Bank Muamalat is particularly designed to cater to the needs of Islamic banking costumers. Bank Muamalat’s SMART Mortgage Solution is designed to help improve cash flow management via debt consolidation of credit card, personal and other loans. Bank Muamalat is also able to finance all entry costs, which can be very attractive if you are looking to reduce your upfront costs. On top of that, Bank Muamalat's SMART mortgage does not have a lock-in period. Bank Muamalat can provide a high margin of financing of up to 90% plus an additional 5% for moving costs and related expenses including MRTT (Mortgage Reducing Term Takaful). Loan tenure can reach up to 35 years (in accordance with the latest ruling by Bank Negara Malaysia) or age 70 whichever is earlier. Use the Bank Muamalat home loan calculator to determine your monthly loan installment. All you need to do is insert the loan amount and loan duration, and the Bank Muamalat home loan calculator will show you the interest rate for your home loan together with the monthly installment of your mortgage.
  • Bank Muamalat offers the Shariah-compliant home financing, whose key features we highlighted in the table below.
    Product Key Features Is this a flexi package?
    Home Financing-i
    • Variable rate Islamic home financing package
    • Margin of financing up to 90% + 10% (moving costs and related expenses)
    • Shariah compliant
    No
  • All Malaysia Citizens can apply Bank Muamalat Home Loan.
  • You will need to provide some supporting documents in order for the bank to process your Bank Muamalat Home Loan application: * Application Form * NRIC / Identity Card * Copy of Sales and Purchase or Booking Receipt or Letter of Offer from Developer * Copy of Individual Title Deed * Property Valuation Report (for completed properties) * Latest 3 consecutive months of salary slips / vouchers * Latest 6 consecutive months of commission statement * Latest EPF statements (with 3 consecutive months or more transaction history) * Latest EA form * Latest 6 months Bank Statement * Letter of Confirmation of Employment and Remuneration
  • Based on your desired property value and loan amount, you can utilize the Bank Muamalat home loan calculator to determine your monthly loan repayment. Once you are ready to apply for the loan amount that you are comfortable with, you can apply through iMoney. Our mortgage consultants will answer all your enquiries and assist you with your housing loan application. If you are not sure whether Bank Muamalat home loan is your best option, click here to compare other home loans in Malaysia.
  • These are the ways you can repay your Bank Muamalat home loan: Online Transfer : Transfer funds from your Bank Muamalat Bank Savings or Checking accounts to make your payments online MEPS : Pay your loans at any of the MEPS ATMs (over 5,000) nationwide Interbank GIRO : Pay your loans through the Interbank GIRO fund transfer at the participating bank’s branch or through online banking Standing Instruction Facility : Automatic deduction from your bank account every month Bank Muamalat ATMs : Transfer funds from your Bank Muamalat Savings or Checking accounts to make your payment at all Bank Muamalat branches Express Payment machine : Make a check or cash deposit at Bank Muamalat branches Payment by Mail : Mail to Bank Muamalat with your check and statement enclosed in an envelope Phone Banking : Issue instructions to have your bank account deducted to pay for your home loan with your T-PIN