• 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.

    Features

    Profit Rate (p.a.) 4.75% p.a. (Flat Rate)
    Loan Tenure 7 years
    Min. monthly income RM2,000
    Min. Loan Amount RM5,000
    Takaful Coverage Mandatory
    Islamic/Conventional Islamic

    Profit Rates for Corporate Package Personal Loan

    The following tables contain the profit rates applicable for the individuals under this Personal Loan:

    For the management ranking:

    Loan Tenure Processing Fee Profit Rate (Flat rate)
    Up to 7 years No charge With salary deduction at source: 4.75% p.a.
    With salary with BMMB: 5.75% p.a.

    For other ranking:

    Loan Tenure Processing Fee Profit Rate (Flat rate)
    2-5 years No charge With Ju’alah: 5.70% p.a.
    Without Ju’alah: 5.50% p.a.
    6-7 years No charge With Ju’alah: 5.90% p.a.
    Without Ju’alah: 5.80% p.a.

    Top Reasons to take Corporate Package Personal Loan

    • 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

    Fee type Fee details
    Processing fee No charge.
    Late Payment charges (Before the maturity date) 1% p.a. of the overdue instalment.
    Late Payment charges (After the maturity date) IIMM% of the outstanding principal.
    Early Termination Fee As per the bank’s discretion.
    Stamp Duty As per the Stamp Duty Act 1949.
    Will Fee or Wasiat RM212.
    Takaful contribution coverage The takaful contribution coverage charges depend upon the age of the individual, tenure, and the financing amount approved.

    Here IIMM stands for Islamic Interbank Money Market.

    Eligibility Criteria

    • Nationality criteria: Malaysian citizen.
    • Age criteria: The individual must be at least 21 years old.
    • Income criteria: RM24,000 p.a. (For the selected organisation staff)
    • Employment criteria: The loan is available to the following individuals only:
      • Confirmed managerial staff of DRB Hicom.
      • Permanent and confirmed staff of non-government organisations with at least 3 years of employment.
    • Repayment criteria: The repayment capacity is to be determined by NDI (National Democratic Institute) and DSR (Debt Service Ratio).

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

    The following is the list of documents you need to present at the time of application for the Bank Muamalat’s Corporate Package Personal Loan process:

    • Front and back side copies of the NRIC.
    • Recent month’s salary slip.
    • The staff of selected organisation need to present the latest utility bill and the confirmation letter from their employers.

    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.

    Read More on Bank Muamalat Personal Loan
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