- Interest Rate (p.a.)
4.50% - 4.90%
- Loan Tenure
2 - 10 years
- Approval Duration
Up to 1 business day (Approval turnaround time (TAT) is subject to fresh loan (no overlapping)
- Min. monthly income
What's so great about MBSB Afdhal-i?
- Approved loan amount of up to RM400,000.
- Fixed interest rate starting at 4.50% per annum.
- Takaful protection not compulsory.
|Min. financing amount||RM3,000|
|Max.financing amount|| Up to RM400,000|
|Min. loan tenure||2 years|
|Max. loan tenure||Up to 10 years|
|Interest rate||Flat rate of 4.50% – 4.90% per annum|
|Approval duration||Up to 1 business day (Approval turnaround time (TAT) is subject to fresh loan (no overlapping)|
|Debt consolidation||Overlapping financing|
Fees & Charges
|One time set up|
|Disbursement & misc. fee||Handling fees of RM 34* (*Fees are not including GST 6%)|
|Late payment charges||N/A|
|Age requirement||Age 19 - 60|
|Employment eligibility||Contract government employee (Biro, Federal AG, State AG deduction facility) and permanent employee of listed private sector companies|
|Min. salary requirement||RM2,000 gross per month|
|Guarantor / Collateral requirement||N/A|
|Need to open linked banked account?||N/A|
|Need to buy Takaful product?||N/A|
Product Review by
MBSB Afdhal-i FAQ
What is the maximum amount you can borrow?
Borrowable amount of up to RM400,000 for a maximum loan tenure of 10 years.
Applicant must be a Malaysian citizen between the age of 19 to 60 to qualify. Applicant must not exceed the age of 60 at the end of the loan tenure.
Applicant must be a contract government employee (Biro, Federal AG, State AG deduction facility), premium high income individual and a permanent employee of listed private sector companies with a minimum gross salary of RM2,500 (contract), RM15,000 (premium) or RM2,000 (private) including allowances per month.
Takaful protection is optional.
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, MBSB will require an average of 1 business day (not including Saturday, Sunday, and public holidays) before approval or disbursement.
You are required to furnish the following documents for your loan application:
- Copy of NRIC (front and back) with original Certified True Copy (CTC)
- 3 months (most current) salary slips
- 3 months (most current) Current or Savings Account statements
- Certification letter by your current Head of Department
- Confirmation letter on retirement age
- Form T228 (applicable for Sarawak government employee)
- Redemption letter for overlapping financing
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 loans on time for another three months before reapplying.