Bank Islam Personal Financing-i (Package)

  • Profit Rate
    4.99% p.a.
  • Max. Financing Amount
    RM 300,000
  • Approval Duration
    Up to 5 business days

Calculate your financing repayment instantly

RM
year(s)
RM
You Pay
RM 89 /mth
Profit Rate
Total Profit Payable
RM 70
Total Repayment
RM 1,070

Key Features

Approved loan amount of up to RM300,000.

Approved loan amount of up to RM300,000.

Interest rate starting at 4.99% per annum.

Interest rate starting at 4.99% per annum.

Interest rate starting at 4.99% per annum.

Applicant covered by Takaful protection.

More details

  • icon Features Features

    Approval Duration
    Up to 5 business days
    Min. Financing Amount
    RM 10,000
    Max. Financing Amount
    RM 300,000

    Other features

    Maximum Financing Tenure
    Up to 10 years
    Debt Consolidation
    No

  • icon Eligibility/Documents Eligibility/Documents

    Age Requirement
    18-60 years old
    Min. Monthly Salary
    RM 2,000

    Other eligibility requirements

    Linked Bank Account
    Optional

  • icon Fees and charges Fees and charges

    Processing Fees
    Free
    Stamp Duty
    As per Stamp Duty Act 1949 (Revised 1989)

    Other Fees and charges

    Late Payment Charges
    1% on outstanding loan amount
Last updated: Aug 25, 2021

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How do you apply for a personal financing online?

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Step 1

Use our personal financing calculator to find the best personal financing based on your requirements and eligibility.

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Step 2

Select the best product that fits your requirements from the list of recommended personal financing products listed and click on the Apply button.

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Step 3

Fill in a form with your details to be submitted for application, and a representative from iMoney or the bank will call you to process the application.

Review by iMoney

Bank Islam Personal Financing-i (Package)is a personal loan for Malaysian citizens thatare looking for a high financing amount of up to RM 300,000. It also has a relatively low installment and decent financing with a relatively low gross income requirement.

Best for: Personal use including your kid’s education fund

Income requirements: Minimum RM 2,000/month.

Pros:

  • Maximum financing amount of RM 300,000
  • Low income requirement (RM2,000/month)
  • Wide age range eligibility (18 – 60 years old)
  • Fixed or floating profit rate
  • No guarantor required

  • The requirements to apply for a moratorium on financing payments are:

    1. Your financing was approved on or before 30 June 2021;
    2. You are not in arrears exceeding 90s, and are not classified as non-performing financing
    3. You are not declared bankrupt

  • You can borrow up to RM 300,000.

  • 10 years.

  • Income: Minimum gross income of RM2,000. Gross salary means salary before monthly deductions such as income tax and Employees Provident Fund (EPF) contribution. Only fixed income earners are eligible.

    • Malaysian citizen
    • Age: 18 – 60 years old
    • Minimum gross income of RM2,000
    • Maximum loan of RM 300,000
    • Encouraged to have Takaful coverage
    • Must be employed in government sector OR selected Public Listed company OR subsidiaries of government or selected Public Listed company OR other prominent Private Limited Company as categorised under package companies by Bank Islam

  • Once you have completed your application with iMoney, you are required to provide the following documents for your application:

    • Front & back copy of NRIC
    • 3 months’ (most current) salary slips
    • Employment Letter
    • 3 months (most current) bank statements
    • EPF statement with at least 6 months contribution (latest not more than 1 year), OR
    • Latest EA Statement, OR
    • Latest Tax Returns and Tax receipts

  • Bank Islam will approve an application within 7 days, provided that full documentation and information are submitted.

    To speed up the process, you can apply through iMoney where our Call Centre Consultants will walk you through the eligibility checker, application form, and advise you on the required document submission.

    After we submit your documents and information, Bank Islam can approve and disburse to you within 3 days.

  • One Time Fee: RM50

    Advance Payment: Equivalent to 2 months of installment

    Late payment charge: 1% per year on the outstanding payment

    For example, the fee is calculated as follow:
    Late payment charge = Outstanding monthly instalment X 1% X number of days outstanding

    * The charges will not be compounded

    Note: There are no upfront charges or additional fees when you apply through iMoney. We will also not request any deposit payment from you.

  • The interest rate is yearly (per annum) will depend on your financing amount, tenure, as well as your individual risk rating. The floating rate will range between 4.42% - 4.52% for those with Takaful coverage and 5.90% - 7.80% without Takaful coverage. The fixed rate will be 4.99% for those with Takaful coverage and 5.99% without Takaful coverage.

    Check your iMoney CreditScore for free to find out how your credit health is.

  • Bank Islam offers a profit rate that starts from 4.99% p.a.

  • Here you can find and download the Bank Islam table of repayment calculations.

  • Payment can be made via salary reduction, online banking, ATM, Deposit Cash Machine or at any Bank Islam counter.

  • Yes, you can. However, you will be required to also settle costs incurred for the early settlement as permitted by the Shariah Supervisory Council of Bank Islam.

  • Unfortunately, no. Bank Islam will check your credit history as part of their approval process. You are required to settle all overdue payments before applying and keep a healthy credit record before you apply for any personal financing or loan. We also highly recommend that you continue repaying your loans on time for another three months before reapplying.

    Check your iMoney CreditScore for free to find out how your credit health is.

  • Bank Rakyat Personal Financing-i (Private Sector)

    Bank Rakyat Personal Financing-i Private Sector is a guarantor-free personal loan that offers a financing amount of up to RM 150,000. It also has a relatively low instalment and decent financing with a relatively low gross income requirement of RM2,000 per month.

    Bank Rakyat Personal Financing-i (Public Sector)

    Bank Rakyat Personal Financing-i Public Sector is a personal loan for Malaysian citizens that are in the public sector, GLC companies and GLC subsidiaries. This personal loan offers a financing amount of up to RM 200,000. It also has a relatively low instalment and decent financing with a relatively low gross income requirement of RM1,000 per month.