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  • Personal Loan BYTES FROM OUR KITCHEN

    Affin Islamic Personal Loan

    Incorporated in 2005, Affin Islamic Bank Berhad (AFFIN ISLAMIC) offers a host of Shariah-compliant Islamic banking products and services to corporate and retail customers, and Small Medium Enterprises (SMEs).

    The bank offers Affin Islamic Personal Financing-i, Hajj, Umrah & Ziarah Financing-i (HUZF-i), and Ar Rahnu Facility-i personal financing facilities to its customers.

    Types of Personal Loan in Affin Islamic Bank

    • Affin Islamic Personal Financing-i: A personal financing facility tailored for employees of certain specific corporate organisations approved by Affin Islamic Bank Berhad. Corporate customers can use this product only for personal consumption and not for any other luxurious engagements. It is based on Tawarruq principles.
    • Hajj, Umrah & Ziarah Financing-i (HUZF-i): You can get this personal financing product to cover all your expenses related Hajj, Umrah or Ziarah. However, you need to buy the travel packages from the bank’s list of travel agents to get the facility. It is based on the concept of Murabahah.
    • Ar Rahnu Facility-i: It is a secured Islamic personal financing product that takes care of your immediate cash requirements in case of an emergency. It’s based on Al-Rahn, Ijarah, and Qard concepts.

    Features and Benefits

    Affin Islamic Personal Financing-i

    • Attractive profit rate of 5.50% p.a. (both fixed and flat)
    • Flexible financing tenure starting from 2 years to 10 years
    • No processing fee
    • You can get financing ranging from RM2,500 to RM150,000 depending on your annual income

    Hajj, Umrah & Ziarah Financing-i (HUZF-i)

    • 7.30% to 7.42% effective profit rate (EPR) based on financing tenure
    • 20% off on stamp duty
    • No security or collateral required
    • No processing fee
    • Financing amount ranging from RM5,000 to RM100,000
    • Flexible financing tenure ranging from 5 months to 1 year

    Ar Rahnu Facility-i

    • Repay only the principal amount borrowed
    • Interest-free financing

    Profit Rates

    Types of Affin Bank Personal Loans Profit Rates (p.a.)
    Affin Islamic Personal Financing-i 5.50%
    Hajj, Umrah & Ziarah Financing-i (HUZF-i) 7.30% to 7.42%

    Personal Loan for Foreigners

    Malaysian citizens and corporate executives along with non-Malaysian corporate executives working in a company approved by Affin Islamic are eligible to apply for personal financing.

    Fees and Charges

    Affin Islamic Personal Financing-i

    Type of Fee Details
    Stamp duty 0.5% will be deducted from the financing amount.
    Processing fee Nil
    Security document retrieval fee RM31.80 for each request for complete set of documents.
    Wakalah or agency contract fee The agency contract fee is same as the brokerage cost incurred every time the bank initiates Tawarruq transaction It is calculated as
    Delivery charges It is to be borne by you.
    Banker’s cheque RM5.30
    Additional financing statement RM10.60 per request.

    Note: The bank charges 6% GST on all taxable supplies.

    Hajj, Umrah & Ziarah Financing-i (HUZF-i)

    Type of Fee Details
    Stamp duty Based on Stamp Act 1949 (Revised 1989)
    Processing fee Nil
    Legal fee Nil
    Wakalah or agency contract fee Nil

    Note: The bank charges 6% GST on all taxable supplies.

    Eligibility Criteria

    Affin Islamic Personal Financing-i

    • Nationality: Malaysian and non-Malaysian corporate executives and non-executives working in companies approved by Affin Islamic Bank Berhad.
    • Age: Minimum age required is 21 years. Maximum age required is up to 58 years.
    • Income requirement: Minimum monthly income of RM2,500 for Premier Corporate Company and minimum monthly income of RM1,500 for Government Servant or Government Linked Company.

    Hajj, Umrah & Ziarah Financing-i (HUZF-i)

    • Nationality: Only Malaysian citizens and Muslims.
    • Age: Minimum entry age is 21 years up to a maximum of 50 years.
    • Income requirement: Minimum annual income of RM30,000.

    Ar Rahnu Facility-i

    • Nationality: Malaysian citizens and permanent residents.
    • Age: 18 years and above.
    • Income requirement: Any Malaysian who’s not bankrupt can apply.

    How to Apply for this loan online?

    To apply for personal financing, download the application form available on Affin Islamic Consumer Financing-i page. Fill up the required details, including name, age, nationality, and other details, and submit the form at your nearest Affin Islamic branch.

    For further assistance, call Affin Islamic Customer Centre: 03-5522 3000. You can also visit the nearest Affin Islamic Branch and request for the same.

    FAQs

    Q. Can I settle the financing amount before its maturity?

    A. Yes, you can. The bank does not impose any additional charges for early settlement. You may get a rebate or ibra’ granted by the bank during the time of settlement.

    Q. Is it compulsory to opt for takaful coverage?

    A. Though it’s not compulsory, it’s still highly encouraged to opt for Reducing Term Takaful or RTT. In an event of death or total permanent disability (TPD), takaful will make sure that your outstanding amount with the bank is paid off.

    Q. What happens if there is a change in my contact details?

    A. You have to immediately inform the bank if there is any change in your contact details so that any financing or other banking related matter reaches you in time. Also, as per Affin Bank’s guidelines, any change in contact details has to be duly signed off by you and should be sent to Affin Islamic Bank Berhad.

    Q. Will any change in the base rate affect my monthly instalments?

    A. No. The profit rate is fixed and it won’t have any effect on your monthly instalments.

    Q. Can a non-resident or non-working individual apply for personal financing?

    A. No, you have to be a permanent resident, a permanent employee in a corporate firm approved by the bank or a citizen of Malaysia in order to be deemed eligible for a personal loan/financing.

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