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.
|Loan Amount||Loan Tenure||Minimum Income||Profit Rate|
|Up to RM50,000||Up to 5 years||NA||4.85% p.a. (flat rate)|
|Interest Rate||Starting 4.85% p.a. (flat rate)|
|Min. Loan Amount||RM5,000|
|Max. Loan Amount||RM50,000|
|Loan Tenure||Up to 5 years|
|Government Servant?||Confirmed government staff|
The benefits and features associated with the Umrah Ziarah Personal Loan are listed below:
|Stamp Duty||As per the Stamp Act of 1949|
|Disbursement and Miscellaneous Fee||NA|
|Goods and Services Tax (GST)||0%|
|Early Settlement||No Ibra (rebate) is granted in case of early settlement|
|Late Payment Charges||1% p.a. of the overdue instalments|
|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|
|NRIC/ID copy (both sides)|
|Salary slip (latest 1 month)|
|Price quote from Panel Travel Agency|
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.