• 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

    RM2,000

Loan calculator
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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.

Product Features

Min. financing amountRM3,000
Max.financing amount Up to RM400,000
Min. loan tenure2 years
Max. loan tenureUp to 10 years
Islamic/ConventionalIslamic
Interest rateFlat rate of 4.50% – 4.90% per annum
Approval durationUp to 1 business day (Approval turnaround time (TAT) is subject to fresh loan (no overlapping)
Debt consolidationOverlapping financing

Fees & Charges

One time set up
Processing feeN/A
Stamp dutyN/A
Disbursement & misc. feeHandling fees of RM 34* (*Fees are not including GST 6%)
Annual feeN/A
Other feesN/A
Penalties
Early settlementN/A
Late payment chargesN/A
Other penaltiesN/A

Eligibility

Age requirementAge 19 - 60
Employment eligibilityContract government employee (Biro, Federal AG, State AG deduction facility) and permanent employee of listed private sector companies
Min. salary requirementRM2,000 gross per month
Guarantor / Collateral requirementN/A

Other Requirements

Need to open linked banked account?N/A
Need to buy Takaful product?N/A
Other detailsN/A

Product Review byiMoney

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.

The catch?

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:
  • No set-up fees need to be paid.
  • Recurring payments:
  • Monthly repayment comprising principal amount and interest charge via Accountant General (AG) or Biro Perkhidmatan Angkasa (BPA) monthly salary deduction facility. Interest rate is fixed at 4.50% (0.38% per month) up to 4.90% per annum (0.41% per month) (rate is subject to a credit review by MBSB) throughout the loan tenure.
  • Penalties:
  • Late payment charges (During financing period, prior to maturity): Compensation (Ta’widh) will be charged at 1% p.a. on the instalments amount in arrears and not compounded.
  • Late payment charges (Upon expiry of financing period, beyond the maturity): Compensation (Ta’widh) will be charged based on MBSB current rate which is equivalent to the Islamic Interbank Money Market (IIMM) Rate on the balance principal amount outstanding on the maturity date or the expiry of the Facility.
  • 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.

    If you are looking for other personal loans, you may also consider
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