• Personal Loan BYTES FROM OUR KITCHEN

    Bank Muamalat Membership Personal Loan

    Membership Personal Loan is a personal loan scheme by Bank Muamalat that provides individuals with a loan to purchase membership of Glenmarie Golf and Country Club. The loan specifically serves the staff of Federal and State Government, Government Linked Companies (GLCs), and selected organisation staff. The funds obtained through this loan come at a competitive profit rate.

    Profit Rate

    Loan Amount Loan Tenure Eligibility Profit Rate
    RM5,000 to RM100,000 3 years to 10 years Government service: Confirmed staff Non-Government service: Confirmed and permanent staff (minimum 3 years in service) Flat Rate: 4.95% p.a.

    Features

    Profit Rate Flat Rate: 4.95% p.a.
    Effective Rate NA
    Minimum Loan Amount RM5,000
    Maximum Loan Amount RM100,000
    Loan Tenure 3 years to 10 years
    Islamic/Conventional Islamic
    Debt Consolidation No
    Takaful Coverage Optional
    Approval Duration Not specified
    Government Servant? All State Government, Federal, GLC, and selected organisation staff

    Top Reasons to take Membership Personal Loan

    The benefits and features associated with Membership Personal Loan by Bank Muamalat are listed below:

    • You can apply for up to RM100,000 loan amount with this financing facility.
    • You can obtains funds with a low flat profit rate of 4.95% p.a.
    • The loan scheme doesn’t need a collateral for the process.
    • You can opt to pay the instalments of the loan through convenient payment methods like salary with BMMB and salary deduction at source.
    • The facility comes with a flexible range of tenures with a maximum of 10 years.

    Fees and Charges

    Stamp Duty As per Stamp Duty Act 1949 (Revised 1989)
    Processing Fee None
    Disbursement and Miscellaneous Fees None
    Wasiat (Will Writing) RM212

    Penalty Charges

    Early Settlement None
    Late Payment Before maturity: 1% of the total outstanding amount After maturity: Equivalent sum to BNM’s IIMM rate (Islamic Interbank Money Market) on the outstanding principal amount

    Eligibility Criteria

    Age N/A
    Employment Government: Confirmed staff Non-government: Confirmed and permanent staff (minimum 3 years in service)
    Minimum Income N/A
    Guarantor/Collateral No
    Linked Bank Account No

    What documents do I need to prepare for Membership Personal Loan?

    Salaried Applicants Copy of NRIC or MyKad (front and back) Latest salary slip (3 months) Confirmation letter of employment Completed membership form

    How to apply for Membership Personal Loan?

    • Offline application: In order to get the Membership Personal Loan, you need to either visit the nearest Bank Muamalat’s branch or reach to the bank through its hotline numbers.
    • Online Application: You can also opt for a time saving method by applying for the Membership Personal Loan online on the Bank Muamalat’s official website.

    FAQs

    Q. >What is the financing amount available with this facility?

    A. You can apply for any amount from RM5,000 to RM100,000 through the Bank Muamalat’s Membership Personal Loan.

    Q. What is the minimum repayment duration available with this scheme?

    A. The facility allows you to choose any tenure between 3 to 10 years. However you can decide to settle the loan amount entirely any time during the period.

    Q. Is there any advantage of opting for the early settlement of the loan?

    A. Yes. You are eligible to earn a rebate in such cases.

    Q. What is the takaful coverage? What if I don’t choose to get one with my loan?

    A. It’s mandatory to opt for the takaful coverage with your loan as this protection plan covers your outstanding loan amount in event of an unfortunate circumstance during the loan period.

    Q. Is it mandatory to opt for the written will with my Membership Personal Loan?

    A. No. It’s optional to opt for the will but encouraged to opt for the same.

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