• 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.

    Features

    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
    Takaful Coverage Mandatory
    Islamic/Conventional Islamic

    Profit Rates

    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.

    Top Reasons to take Umrah Ziarah Personal Loan

    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

    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.

    Eligibility Criteria

    Here are the eligibility criteria for the Umrah Ziarah Personal Loan:

    • Nationality criterion: The applicant must be a Malaysian citizen.
    • Age criterion: The applicants must be 21 years old or older at the time of application to get this loan.
    • Employment criterion: The applicant must either be a confirmed employee of the Federal or State Government or a confirmed and permanent employee of non-government institutions with a minimum of 3 years’ employment history.
    • Repayment criterion: The repayment capacity is determined by DSR (Debt Service Ratio) and NDI (National Democratic Institute).

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

    The documents required for Umrah Ziarah Personal Loan process are listed below:

    • A copy of NRIC or ID proof (both sides)
    • A copy of the last month’s salary slip
    • The price quotation from the Travel Agency Panel

    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.

    Read More on Bank Muamalat Personal Loan
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