Maybank AITAB Car Loan is a vehicle financing facility offered for the purchase of new, old, and reconditioned vehicles. The facility works on the basis of Shariah concept of AITAB (Al Ijarah Thumma Al Bai) which means lease followed by a sale.
The following are the vehicle purchase plans available with Maybank AITAB:
|Vehicle Type||Available Repayment Period||Margin of Finance|
|New passenger car, MPV, 4WD, and SUV (CKD and CBU units)||Up to 9 years||A maximum of 90% of the seller’s or dealer’s invoice|
|Old or used passenger car, MPV, 4WD, and SUV||Up to 9 years||A maximum of 85% of the seller’s or dealer’s invoice|
|Unregistered reconditioned (imported) vehicles||Up to 9 years||A maximum of 90% of the seller’s or dealer’s invoice|
The following table consists of profit rates associated with Maybank AITAB:
|Vehicle Type||Maximum Financing Tenure Available||Profit Rate|
|New vehicle||9 years||3.40% p.a. to 4.10% p.a.|
|Second-hand vehicle||9 years||4.25% p.a. to 4.50% p.a.|
The following can apply for Maybank Al-Ijarah Thumma Al-Bai (AITAB):
For Fixed-salary Earning Individuals
For Public Listed companies
For Sole Proprietorships/partnerships/self-employed Individuals
|Late payment charges (Before the maturity)||1% p.a. of the amount of overdue instalment calculated on a daily basis.|
|Late payment charges (After the maturity)||IIMM% p.a. of the amount of overdue instalment calculated on a daily basis.|
|Stamp Duty||Without guarantor: RM20 per agreement.|
|With guarantor: RM60 per agreement.|
|Issuance letter of consent to JPJ on the change of vehicle engine (for used vehicles) (per letter)||RM53.|
|Issuance letter of consent to JPJ on the interchange of vehicle’s registration number (for used vehicles) (per letter)||RM53.|
|Road tax renewal||RM10.60.|
|Inter-branch inspection (per inspection)||RM53.|
|Issuance of letter to customs and a letter to JPJ for transfer of vehicle to East Malaysia or vice-versa (per letter)||RM21.20.|
Note: JPJ = Jabatan Pengangkutan Jalan (Road Transport Department Malaysia); IIMM = Islamic Interbank Money Market.
For any query related to Maybank AITAB, you can contact the bank via the following customer service numbers:
Q. Is it mandatory to opt for the motor takaful coverage with Maybank AITAB Vehicle Financing package?
A. Yes. It is compulsory for you to take the motor takaful coverage with Maybank AITAB.
Q. When does repossession take place with this scheme?
A. The repossession take place in the following cases:
Q. Do I need to be accompanied by a guarantor for Maybank AITAB application process?
A. The requirement of a guarantor for the application process may vary from application to application and person to person. But it is compulsory for foreign applicants to be accompanied by a guarantor to the Maybank AITAB application process.
Q. Can I make partial payment on this financing scheme?
A. No, partial payments are not allowed with Maybank AITAB.
Q. What are the other ways I can contact the bank regarding this product?
A. You can contact the bank via its fax at 03-2283 2019.