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 (p.a.)||4.85% p.a.(Flat Rate)|
|Loan Tenure||5 years|
|Min. monthly income||RM 3,000|
|Min. Loan Amount||RM5,000|
The profit rates associated with the Umrah Ziarah Personal Loan are mentioned in the table below:
|Loan Tenure||Processing Fee||Profit Rate|
|Up to 5 years||No charge||Without Ju’alah: 4.85% p.a.|
|With Ju’alah: 4.98% p.a.|
The benefits and features associated with the Umrah Ziarah Personal Loan are listed below:
|Fee type||Fee details|
|Processing fee||No charge.|
|Late Payment charges (Before the maturity date)||In cases of late payment during the loan period, a late payment fee of 1% p.a. of the outstanding instalment amount will be charged.|
|Late Payment charges (After the maturity date)||After the facility matures, the late payment charges of IIMM% of the total due principal will be charged in case of late payments.|
|Early Termination Fee||As per the bank’s discretion.|
|Stamp Duty||As per the Stamp Duty Act 1949.|
|Will Fee or Wasiat||RM212 will be charged for a written will.|
|Takaful contribution coverage||The takaful coverage contribution is charged in accordance to the loan amount approved, the tenure chosen, and the age of the customer.|
Note: IIMM = Islamic Interbank Money Market.
Here are the eligibility criteria for the Umrah Ziarah Personal Loan:
The documents required for Umrah Ziarah Personal Loan process are listed below:
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.
|Read More on Bank Muamalat Personal Loan|