• Personal Loan BYTES FROM OUR KITCHEN

    Bank Muamalat Umrah Ziarah Personal Loan

    Umrah Ziarah Personal Loan is a personal loan facility provided by Bank Muamalat that provides funds for the purpose of Umrah and Ziarah. The loan facility provides financing to Federal and State Government employees, as well as employees of GLCs and selected organisation staff at a competitive rate.

    Profit Rate

    Loan Amount Loan Tenure Minimum Income Profit Rate
    Up to RM50,000 Up to 5 years NA 4.85% p.a. (flat rate)

    Features

    Interest Rate Starting 4.85% p.a. (flat rate)
    Effective Rate NA
    Min. Loan Amount RM5,000
    Max. Loan Amount RM50,000
    Loan Tenure Up to 5 years
    Islamic/Conventional Islamic
    Debt Consolidation NA
    Takaful Coverage Optional
    Approval Duration NA
    Government Servant? Confirmed government staff

    Benefits

    The benefits and features associated with the Umrah Ziarah Personal Loan are listed below:

    • One can get funds of up to RM50,000 with this loan facility.
    • The facility comes with repayment tenures of up to 5 years.
    • The facility comes with competitive profits rates of as low as 4.85% (flat rate).
    • The repayments for the facility can be made through easy and convenient payment modes like salary with BMMB (Bank Muamalat Malaysia Berhad) and salary deduction at source.
    • The facility doesn’t need the applicant to bring a guarantor for the application process.

    Fees and Charges

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

    Penalties

    Early Settlement No Ibra (rebate) is granted in case of early settlement
    Late Payment Charges 1% p.a. of the overdue instalments

    Eligibility Criteria

    Age Requirement NA
    Employment All staff of federal/state government, GLC, and selected organisations
    Minimum Income Requirement NA
    Guarantor/Collateral Requirement No. Guarantor or Collateral are not required
    Should I have linked bank account? NA

    What documents do I need to prepare for Umrah Ziarah Personal Loan?

    NRIC/ID copy (both sides)
    Salary slip (latest 1 month)
    Price quote from Panel Travel Agency

    How to apply for Umrah Ziarah Personal Loan?

    • Offline application: The applicants can walk into the nearest Bank Muamalat’s branch and submit their documents after filling the application form available at the branch. The applicants can also reach out to the bank telephonically via the bank’s hotline numbers.
    • Online Application: Applicants can also apply for the loan online at the bank’s official website.

    FAQs

    Q. What is the range of funds available with this loan facility?

    A. The loan facility provides funds ranging RM5,000 to RM50,000.

    Q. What is takaful coverage? How much does it charge?

    A. The takaful coverage keeps you secure against cases of unfortunate circumstances. The coverage contribution varies with the applicant’s age, loan amount, and the financing tenure.

    Q. What is the minimum available period with this scheme?

    A. The minimum period available with this loan scheme is 2 years. However you can choose to fully settle the loan amount any time during the period.

    Q. What is the benefit of settling the whole amount before the period ends?

    A. If you choose to settle the entire amount before the period ends, you are eligible earn a rebate (Ibra).

    Q. How much rebate I can earn with early settlement?

    A. Rebate associated with the early settlement can be calculated as:

    Ibra = Outstanding balance or the outstanding selling price – Outstanding Principal amount – The total amount due – Reduction of Ibra’.

    Where Ibra’ is the cost the customer bears when he opts to settle the entire loan amount before the maturity of the facility.

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