• Personal Loan BYTES FROM OUR KITCHEN

    Bank Muamalat Corporate Package Personal Loan

    Corporate Package Personal Loan is offered by Bank Muamalat and provides funds to the employees of selected non-government organisations, and the managerial level employees of DRB Hicom at a competitive profit rate.

    Profit Rate

    Loan Amount Loan Tenure Min. Income Interest Rate
    • Up to RM150,000 for DRB Hicom Managerial Level
    • Up to RM100,000 for staff of selected organisations
    Up to 7 years
    • RM10,000 for DRB Hicom Managerial Level
    • RM7,000 for staff of selected organisations
    • Flat rate: From 5.50% p.a. (without ju'alah)
    • From 5.80% p.a. (with ju'alah)

    Features

    Interest Rate
    • Flat rate: From 5.50% p.a. (without ju'alah)
    • From 5.80% p.a. (with ju'alah)
    Effective Rate NA
    Min. Loan Amount
    • RM10,000 for DRB Hicom Managerial Level
    • RM7,000 for staff of selected organisations
    Max. Loan Amount
    • Up to RM150,000 for DRB Hicom Managerial Level
    • Up to RM100,000 for staff of selected organisations
    Loan Tenure Up to 7 years
    Islamic/Conventional Islamic
    Debt Consolidation NA
    Takaful Coverage Optional
    Approval Duration NA
    Government Servant? NA

    Benefits

    • The managerial level staff of DRB Hicom can get up to RM150,000 loan amount with this loan scheme. Whereas the employees of selected organisations can get a maximum of RM100,000 with this loan.
    • The funds from this loan facility come with a range of competitive profit rates.
    • No collateral or guarantor is required for the loan approval process.
    • The loan scheme comes with a maximum of 7 year period.
    • The facility allows the individuals to make the payment via easy payment modes like salary deduction at source and salary with BMMB.

    Fees and Charges

    Stamp Duty As per the Stamp Act 1949
    Processing Fee NA
    Disbursement and Miscellaneous Fee NA
    Goods and Services Tax (GST) 0%

    Penalties

    Early Settlement NA 
    Late Payment Charges
    • During the tenure - 1% p.a. of the due amount
    • After the tenure –BNM’s Islamic Interbank Money Market’s (IIMM) rate on the balance outstanding amount

    Eligibility Criteria

    Age Requirement Above 21 years
    Employment
    • DRB Hicom Managerial Level
    • Staff of selected non-government organisations
    Minimum Income Requirement RM2,000
    Guarantor/Collateral Requirement No guarantor or collateral is required.
    Should I have linked bank account? NA

    What documents do I need to prepare for Corporate Package Personal Loan?

    NRIC copy (both sides)
    Latest Pay slip (1 month)
    Latest utility bill (for staff of selected organisations)
    Employment Confirmation Letter (for staff of selected organisations)

    How to apply for Corporate Package Personal Loan?

    • Offline application: One can apply for the loan either at any Bank Muamalat branch or by putting in the request for the same through bank’s hotline numbers.
    • Online Application:One can also put in their application for the Bank Muamalat’s Corporate Package Personal Loan online through the bank’s official website.

    FAQs

    Q. I am an employee of a non-government institution. My monthly salary is RM3,000. How much loan amount I can apply for through this facility?

    A. The amount applicable through this financing facility depends upon an individual’s rank and the monthly salary. To get a better understanding about the maximum limit applicable through Corporate, refer to the table below:

    Tenure Ranking Minimum loan amount Maximum loan amount
    2-7 years Management ranking RM10,000 10 times the monthly salary or RM150,000 (whichever is lower).
    2-7 years Other ranking RM7,000 For monthly salary less than RM5,000: 5 times the gross salary.
    For monthly salary more than RM5,000: 10 times the gross salary or a maximum of RM100,000.

    Q. Can I opt to fully settle the financing amount prior to the maturity date?

    A. Yes. You can opt for an early settlement of the loan amount.

    Q. Is there any benefit I can get with the early settlement of this loan?

    A. Yes. You can earn rebate with the early settlement of the amount due.

    Q. Is it compulsory to get the written will?

    A. It’s optional to opt for the written will, but it’s recommended to get the same.

    Q. Should I get the takaful protection on my plan?

    A. It’s mandatory to get the takaful protection plan with the loan as it covers the outstanding balance should any unfortunate event or circumstance occur during the loan period.

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