• Interest Rate (p.a.)

    10.95% - 10.95%

  • 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

    RM3,500

Loan calculator
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What's so great about MBSB Private Sector PF-i?
  • Approved loan amount of up to RM300,000.
  • Floating interest rate of 0.34% per month.
  • Loan approval within 1 business day (24 hours)

Product Features

Min. financing amountRM3,000
Max.financing amount Up to 5x fixed monthly salary or up to RM300,000
Min. loan tenure2 years
Max. loan tenure10
Islamic/ConventionalIslamic
Interest rateFloating rate of ECOF-i + 4.10% per annum
Approval durationUp to 1 business day (Approval turnaround time (TAT) is subject to fresh loan (no overlapping))
Debt consolidationNo

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%) and IBG fees RM 4*
Annual feeN/A
Other feesN/A
Penalties
Early settlementN/A
Late payment chargesDuring financing period, prior to maturity: 1% p.a. on the installments amount in arrears and not compounded.
Other penaltiesN/A

Eligibility

Age requirementAge 21 - 60
Employment eligibilityMalaysian citizens and permanent residents who are employee of a private sector organization or self-employed
Min. salary requirementRM3,500 gross per month
Guarantor / Collateral requirementN/A

Other Requirements

Need to open linked banked account?No
Need to buy Takaful product?No
Other detailsN/A

Product Review byiMoney

MBSB Private Sector PF-i FAQ

What is the maximum amount you can borrow?

Borrowable amount of up to ten times your fixed monthly gross salary or RM300,000 for a maximum loan tenure of 10 years.

The catch?

Applicant must be a Malaysian citizen between the age of 21 to 60 to qualify. Applicant must not exceed the age of 60 at the end of the loan tenure.

Applicant must be a employee of a private or self-employed with a minimum gross salary of RM3,500 (employed) or RM5,000 (self-employed) including allowances per month.

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 over the counter/direct debit/post dated cheque (PDC). Interest rate applicable is a floating rate of 6.85% (ECOF-i) + 4.10% per annum (0.34% per month).
  • Islamic Effective Cost of Fund (ECOF-i ) determined by MBSB is 6.85% per annum.
  • Penalties:
  • Late payment charges (During financing period, prior to maturity): Compensation (Ta’widh) will be charged at 1% p.a. on the installments 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.
  • Calculate the cost of taking up this loan using our calculator

    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.
    • Photocopy of savings passbook /bank statement with IC no. with original CTC
    • BE/EA form & latest EPF statement with original CTC.
    • Emergency contact (relative/friend) that are not staying with applicant
    • 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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  • AmBank Islamic Personal Financing-i
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