- Interest Rate (p.a.)
4.30% - 4.80%
- Loan Tenure
2 - 10 years
- Approval Duration
2 business days
- Min. monthly income
What's so great about AmBank Islamic Personal Financing-i?
- Approved financing amount of up to RM200,000
- Fixed profit rate starting at 4.30% per annum
- Takaful protection included
|Min. financing amount||RM5,000|
|Max.financing amount|| Up to 5x fixed monthly salary or up to RM200,000|
|Min. loan tenure||2 years|
|Max. loan tenure||10 years|
|Interest rate||Fixed rate of 4.30% per annum; subject to credit review by AmBank Islamic|
|Approval duration||2 business days|
Fees & Charges
|One time set up|
|Stamp duty||As per Stamp Duty Act 1949 (Revised 1989)|
|Disbursement & misc. fee||N/A|
|Late payment charges||1% on outstanding financing amount|
|Age requirement||Age 18 - 58|
|Employment eligibility||Full-time employee of Federal Government, State Government, or selected statutory bodies with minimum 3 months of completed service|
|Min. salary requirement||RM1,500 gross per month|
|Guarantor / Collateral requirement||N/A|
|Need to open linked banked account?||No|
|Need to buy Takaful product?||Yes|
Product Review by
Need some cash for personal use, business use or education purpose? AmBank Islamic Personal Financing-i can help you cover your immediate need for cash. With a good credit score, you’ll likely be able to snag the most affordable profit rate. For this financing, AmBank Islamic offers profit rate as low as 4.3% per annum depending on financing amount and period, and you must take Takaful insurance with this financing. The minimum financing amount you can apply is RM5,000 and the maximum is up to RM200,000 with minimum financing tenure of 2 years and maximum tenure of 10 years. The approval duration is within 2 working days. Furthermore, this personal financing is based on the Shariah concept of Bai’lnah, no guarantor and no advanced instalments are required, and you will be eligible to get rebate when you do an early settlement.
You will be charged a processing fee of 4% of total financing amount, and 0.5% of stamp duty fee on borrowed amount. No early settlement fees will be imposed if you provide at least 1 month advance notice in writing at any AmBank Islamic branch. 1% from current outstanding amount of late payment fee will be charged if you fail to make your monthly repayment on time. The mode of payment to AmBank Islamic will have to be a monthly deduction from your salary. To apply, you must be between the age of 18 to 60 years old with minimum gross income of RM1,500 per month. This offer is exclusively for employees of Federal Government, State Government, and selected statutory bodies.
AmBank Islamic Personal Financing-i FAQ
What is the maximum amount you can borrow?
Borrowable amount of up to five times your fixed monthly gross salary or up to RM200,000 for a maximum financing tenure of 10 years.
Applicant must be between the age of 18 to 60 to qualify.
Applicant must be a full-time employee of Federal Government, State Government, or selected statutory bodies with three months of completed service and a minimum gross salary of RM1,500 per month.
Takaful protection is compulsory.
What will it cost you and how will you be charged?One time set-up fee:
How long will the application take and what documentations are required?
Upon completing an application with iMoney, our representative will contact you within the same business day to confirm your application.
Thereafter, AmBank Islamic will require an average of two business days (not including Saturday, Sunday, and public holidays) before approval or disbursement.
You are required to furnish the following documents for your financing application:
- 3 copies of NRIC (front and back) certified True Copy by your current Head of Department.
- Polis Diraja Malaysia (PDRM) only:3 copies of police identity card or NRIC (front and back) certified True Copy by your current Head of Department.
- 1 month (most current) original salary slip with 2 copies certified True Copy by your current Head of Department.
- 1 copy of Savings Account Passbook OR Current Account Statement (front page showing your name and account number).
Can you apply if you have a bad CCRIS/ CTOS/ Credit Record?
No, you are required to settle all overdue payments before applying. It is advised that you continue repaying your financing on time for another three months before reapplying.