• Bank Muamalat Home Loan

    Bank Muamalat Home Loan

    The bank proudly runs in compliance with the Shariah customs and offers a very flexible home financing package to suit the requirements and financial status of its customers. Bank Muamalat home loan has been specifically designed to provide the best home financing option to those who are looking to buy a home without paying soaring rates of interest on the principal loan amount.


    You’re probably eligible for an Bank Muamalat Home Loan if you are

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    Bank Muamalat Home Loan Minimum Age

    At least 21 years old

    Bank Muamalat Home Loan Maximum Age

    Less than 70 years old

    Bank Muamalat Home Loan Eligible Employment Type

    Salaried / Self-employed
    with regular income

    Bank Muamalat Home Loan Minimum Income

    Earn more than the minimum
    income required


    Your Bank Muamalat Home Loan amount eligibility is based on these factors

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    Bank Muamalat Home Loan Minimum Salary

    Instalment limited to about 50%
    of monthly income

    Bank Muamalat Home Loan Maximum Loan to property value

    Loan capped @ Up to 90% + 10% MCRE

    Bank Muamalat Home Loan EMI

    Instalments of other loans lower
    your eligibility


    Increase your eligible Bank Muamalat Home Loan amount by these steps

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    Bank Muamalat Home Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant,
    and her income will add
    to your eligibility

    Bank Muamalat Home Loan Maximum Tenure

    Choose longer tenure loan up to 35 years

    Bank Muamalat Home Loan Add parents as Co-applicant

    Alternatively add your parents


    Documentation needed to apply for an BANK Muamalat Home Loan

    • 1. Photocopy of I/C of applicant(s).
    • 2. Latest 3 months salary slips.
    • 3. Latest J/EA Form.
    • 4. Confirmation letter from employer.
    • 5. Original S&P Agreement/ booking sheet / down payment receipt.
    • 6. Business Registration, Form 24, Form 49, Form A or B, Form D (for self employed which ever applicable).
    • 7. Latest 3 months Bank Statement.
    • 8. Any additional documents if required by the Bank.

    Bank Muamalat Home Loan Interest RatesUpdated on 05 Dec 2016

    Bank Muamalat Home Loan Details
    Margin of Finance Up to 90% + 10% MCRE
    Tenor 35 years
    Guarantor Requirement Guarantee Required

    The bank proudly runs in compliance with the Shariah customs and offers a very flexible home financing package to suit the requirements and financial status of its customers. Bank Muamalat home loan has been specifically designed to provide the best home financing option to those who are looking to buy a home without paying soaring rates of interest on the principal loan amount.

    Bank Muamalat Home Loan Malaysia

    Home Financing-i package, which is the most popular home loan package of Bank Muamalat, is customer friendly in terms of being as low as 4.70% on interest rate and covering the additional costs. This home loan offers a margin of financing up to 90% plus 10% as to cover the moving and related costs such as MRTT, valuation fees, legal fees and stamp duty charges. The bank also specializes in financing the writing of Will document as per the Shariah compliance. The loan principal is repaid in fixed monthly installments, but since it is not a flexi-loan, any surplus amount paid over the installment will be considered an advance payment of next installment and does not decrease the principal sum of loan.

    Features and Benefits of Bank Muamalat Home Loan

    The main features and benefits of the Bank Muamalat Home loan include:

    1. Bank Muamalat offers a margin rate as high as 90% along with an extra 10% to cover the costs and expenses incurred in the period such as moving and related expenses (mortgage reducing term Takaful). Bank Muamalat also allows the customers to choose their preferred loan tenure- upto 35 years or attainment of age 70 (whichever comes first).
    2. Bank Muamalat Home Loan works with a simple processing and fast approval mechanism. The bank ensures that their norms are very flexible to serve a wide range of customers.
    3. Bank Muamalat offers the lowest home loan interest rates in its class. Convenience that also saves money.
    4. Stamp Duty Remissions: 20% stamp duty remission on new purchase (on the principal or primary instrument of Islamic Home Financing) until 31 December 2017, as announced in the Government Budget 2016. 100% stamp duty waiver on redemption (for refinancing from conventional to Islamic Financing facility), as per Government gazette under P.A.(A) 376/2010, Stamp Duty (Remission) Order 2010 of Stamp Act 1949.

    Bank Muamalat Home Loan Interest Rates

    Since this is an Islamic banking loan the interest of the housing loans is calculated at 10.50% and is fixed. Also, the loan has almost 100% financing margin, which is convenient. Muamalat home loan installment calculator does for you in just under a minute what manual processing would normally take hours to do. Feeding in some important parameters like the desired loan amount, preferred loan tenure, applicable profit rate and then clicking the ‘calculate’ button is all that its takes to know the estimated monthly installment for your Bank Muamalat home loan. This calculator can also be used to vary the input parameters like personal loan amount and preferred loan tenure to reach that optimum monthly installment amount which you think is most suitable to you. It is also very helpful to know what percentage of your monthly income would supposedly go towards home loan repayment.

    How To Apply for a Bank Muamalat Home Loan

    Any individual who is 18 years of age or more with a minimum annual income of RM 24,000 can apply for the Home Financing-i package of Bank Muamalat regardless of their nationality. The maximum age to apply for the loan is 70 years.

    However the following documentation are required at the same time for the application process to start and for approval:

    1. Photocopy of I/C of applicant(s).
    2. Latest 3 months salary slips.
    3. Latest J/EA Form.
    4. Confirmation letter from employer.
    5. Original S&P Agreement/ booking sheet / down payment receipt.
    6. Business Registration, Form 24, Form 49, Form A or B, Form D (for self employed whichever is applicable).
    7. Latest 3 months Bank Statement.
    8. Any additional documents if required by the Bank.

    How to Calculate Loan Installment for Bank Muamalat Home Loan?

    Muamalat home loan installment calculator does for you in just under a minute what manual processing would normally take hours to do. Feeding in some important parameters like the desired loan amount, preferred loan tenure, applicable profit rate and then clicking the ‘calculate’ button is all that its takes to know the estimated monthly installment for your Bank Muamalat home loan. This calculator can also be used to vary the input parameters like personal loan amount and preferred loan tenure to reach that optimum monthly installment amount which you think is most suitable to you. It is also very helpful to know what percentage of your monthly income would supposedly go towards home loan repayment.

    FAQs on Bank Muamalat Home Loan

    Is there any facility for early settlement of Bank Home Loan?

    The Bank Muamalat offers a lock-in period of 5 years which is a good option for those who are looking for a long term investment and are not interested in selling the house within 5 years. In case the Home Loan holders want to settle the loan amount earlier than this duration, they will be subjected to a penalty of 6.65% on the outstanding loan amount.

    What is the eligibility criterion to apply for Bank Muamalat Home Loan?

    Any individual who is 18 years of age or more with a minimum annual income of RM 24,000 can apply for the Home Financing-i package of Bank Muamalat regardless of their nationality. The maximum age to apply for the loan is 70 years.

    What is the procedure to apply for Bank Muamalat Home Loan?

    The interested customers can use the Home Loan Calculator offered on the official site of the bank to calculate the monthly installment amount based on the value of property desired to be purchased and the appropriate loan amount needed. Customers can also apply via iMoney, a free online enquiry option through the Bank Muamalat relationship manager.

    What are the documents required to apply for the Home Loan?

    The necessary documents needed to be submitted along with the filled application form are- valid ID/NRIC, copy of sales or purchase from developer, a Property Valuation Report, copy of Individual Title Deed, and latest bank statement with salary slips.

    What are the ways to repay the Bank Muamalat Home Loan Installments?

    The bank has some great repayment policies to suit the needs of customers and it is very easy to pay the monthly installments through various methods. The Home Financing-i customers can choose any of the following options to repay the monthly installments:

    • Online Transfer: Transfers the installment amount from your Bank Muamalat Savings or Checking account online.
    • Interbank GIRO: Transfer the installments through Interbank GIRO fund transfer online or through the bank branch.
    • MEPS: Make the payment through more than 5000 MEPS ATMs present worldwide.
    • Express Payment Machine: Pay the installments through cash deposit or a check.
    • Phone Banking: Call the bank to ask for a deduction of installment amount from the Savings or Checking account.

    Other Products offered by Bank Muamalat:

    Apart from offering Home Loan,Bank Muamalat offers other products and services which include:

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