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Interest Rate

4.68%

Monthly Repayment

RM1,294

1. I want to borrow
RM
2. For how long
years
Maybank Highlights
  • No Lock-in-Period
  • Low early settlement penalty
  • Stamp duty exemptions
  • Zero entry cost package available
Terms & Conditions
  • Minimum Age: 21 Years
  • Loan Tenure: Up to 35 Years
  • Margin of Finance: 90% + 5% for MRTA financing
  • Suitable for: Completed homes, under-construction properties, refinance

Is a Maybank Islamic Home Loan Right for Me?

Maybank Islamic offers a comprehensive variety of Shariah-compliant Islamic home financing packages with fixed, variable rates to choose from, with and without lock in periods. Maybank also has come out with various tools to ease their customers. One of it is the MayBank home loan calculator. For the convenience of their customers, Maybank provides exclusive Maybank home loan calculator to help you make the right decision.

Most noteworthy among these packages are Commodity Murabahah Home Financing-i and MaxiHome-i which have no lock-in periods and early settlement penalties. The Commodity Murabahah Home Financing-i, a variable rate Islamic home loan with a ceiling rate to protect against BR (Base Rate) fluctuations.

Maxi Home-i is a full-flexi home loan that comes with a linked current account. Regularly depositing extra amounts into the account helps reduce interest payments and can reduce the loan tenure over the long run. If you are uncertain about what is the minimum amount you need, you can always estimate that amount using Maybank home loan calculator.

Maybank Islamic’s other products have a 3-year lock in period with an early settlement fee of 2% in case you want to refinance or sell your property during this period.

Similar to many other Islamic banks, Maybank Islamic offers stamp duty discounts for Islamic loan packages. A 20% discount applies for new loans, while loans refinanced from a conventional product gets a full stamp duty waiver. The margin of financing offered by Maybank Islamic Bank can reach up to 100% (with Takaful premium), depending on the respective loan package.

For the first-time house buyer, Maybank provides you its Maybank home loan calculator to estimate how much you can borrow, how much you will have to pay, and for how many years. It is very confusing with the whole buying house process such as signing the Sale and Purchase agreement, dealing with solicitors, legal fees and stamp duty. Via Maybank home loan calculator, you can get an idea on your future spending as well as budget control.

So how to use this Maybank Islamic home loan calculator? It’s very simple. Go to the Maybank official website and select the Maybank Islamic housing loan calculator at the side bar under the “Loans”. Then you will be led into Maybank Islamic housing loan calculator window. Just insert the costs of the house, your monthly income and your desired loan tenure into the exclusive Maybank Islamic home loan calculator; then you will find out how much you could borrow and how much you need to pay every month. That’s how the Maybank Islamic mortgage calculator works.

Maybank Islamic Home Loan Packages

Maybank Islamic Bank offers four Shariah compliant home loan packages. The key features of the Commodity Murabahah Home Financing-i, HomeEquity-i, Home Financing-I and MaxiHome-I packages are set out below.

Product Key Features Is this a flexi package?
Commodity Murabahah Home Financing-i
  • Variable rate Islamic home financing package
  • 20% discount on stamp duty for new account
  • Margin of financing up to 100% (with Takaful premium)
Yes, Semi-Flexi
HomeEquity-i
  • 20% discount on stamp duty for new account
  • Financing eligibility of up to 70% of salary
  • For completed residential properties and purchase of land (for purpose of home building)
Yes, Semi-Flexi
Home Financing-i
  • Islamic home financing package with choice of fixed or tiered rate
  • Financing eligibility of up to 70% of salary
  • No early settlement charge or lock-in period penalty
Yes, Semi-Flexi
MaxiHome-i
  • Islamic home financing package with zero entry cost option
  • Rebate given for early settlement
  • Make extra deposits to reduce interest payments and shorten your loan tenure
Yes, Semi-Flexi

Details of Maybank Islamic’s Flexi Home Loan Packages

Borrowers are able to make additional monthly repayments to reduce the monthly interest charged on their home loan (hence overall interest) through Flexi home packages. Alongside the benefits, there are other considerations such as the requirements, fees and conditions to be considered.

Commodity Murabahah Home Financing-i HomeEquity-i Home Financing-i MaxiHome-i
Flexi type Semi-Flexi Semi-Flexi Semi-Flexi Semi-Flexi
Is a linked bank account required? No No No No
Account Maintenance Fees No No No No
Redrawal Fees RM25 RM25 RM25 RM25

Am I Eligible for a Maybank Islamic Home Loan?

All individuals, joint applicants, residents and foreigners may apply for a Maybank Islamic loan. However, for foreigners, terms will differ from those received by residents.

What Documents Will I Need to Prepare?

You will be need to provide a list of supporting documents for your application for Maybank Islamic Home Loan to begin the application process. The list of documents are:

  • 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

Sounds Great! How Should I Proceed?

Get your monthly repayments calculated based on the property value and mortgage amount using our Maybank Islamic home loan calculator. Once you are comfortable with the monthly repayment, you can pply through iMoney for free consultation. Applying for Maybank Islamic housing loan with iMoney is absolutely free of charge.

If you are not sure whether this home loan by Maybank Islamic is your best option, click here to compare other home loans in Malaysia.

Is It Easy to Repay my Maybank Islamic Home Loan?

Maybank has the largest branch network in Malaysia, so repayments will be very convenient to make. Other online modes of repayment are available as well.

Online Transfer
Make your payments online by transferring funds from your Maybank Islamic Bank Savings or Checking accounts
MEPS
Make the payment of your monthly installments at any of the 5,000 MEPS ATMs in the country
Interbank GIRO
Make your payments through Interbank GIRO fund transfer at the participating bank's bank or at the convenience of your home (through online banking)
Standing Instruction Facility
Set a date and the bank will make automatic deduction from your bank account on the fixed date every month
Maybank Islamic ATMs
Make your payments through Maybank Islamic ATMs by transferring funds from your Maybank Islamic savings or checking accounts
Express Payment machine
Make your payments through a check or cash deposit at Maybank Islamic branches
Payment by Mail
Mail to Maybank Islamic 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


If you are looking for other home loans, you may also consider
RHB Home Loan
The home loan rate from RHB Bank starts from Base Rate (BR) 4.00%. The option of a flexi loan package is available and there is a maximum of 90% margin of financing. There is a 3 year lock-in period for this home loan.
Bank Muamalat Home Loan
At Bank Muamalat, the housing loan rate starts from Base Rate (BR) 3.90%. There is no option of a flexi loan package available and there is a maximum of 90% margin of financing. There is a 5 year lock-in period for this housing loan.
Public Bank Home Loan
Public Bank provides a mortgage rate starting from Base Rate (BR) 3.65%. There is available the option of a flexi loan package for this loan and there is a maximum of 90% margin of financing. The lock-in period for this mortgage is 3 years.
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