CIMB caters to a wide range of financial needs of individuals. With nearly 1000 retail branches providing banking services across Malaysia, Indonesia, Singapore, Thailand and Cambodia, the bank renders Shariah compliant banking also in Malaysia and Indonesia. Getting CIMB Islamic Bank Car Loan is an easy process if you have all the necessary documents.
You’re probably eligible for an CIMB Islamic Bank Car Loan if you are
At least 18 years old
Less than 70 years old
Salaried or self-employed
with regular income
Earn more than the minimum
Your CIMB Islamic Bank Car Loan amount eligibility is based on these factors
Loan capped @
Up to 90% of the ex-showroom price
Installments of other loans lower
Increase your eligible CIMB Islamic Bank Car Loan amount by these steps
Pay off your credit card bills
Choose longer tenure loan up to 9 years
Documentation needed to apply for CIMB Islamic Bank Car Loan
- 1. Photocopy of identity card (front & back) for applicant and guarantor(s).
- 2. Photocopy of Valid Driving License.
- 3. Latest form B / EA or EPF statement
- 4. Documentation for Salaried Employee:
- Latest 3 months pay slips/ salary vouchers
- Latest 3 months bank statements/savings passbook
- 5. Documentation for Self-Employee:
- Business Registration Certificate for sole Proprietor / Partnership
- Latest 6 months bank statement account
- 6. Documentation for Company:
- Latest 6 months company bank account statements
- Form 9, 24, 49 for private limited company (Sdn Bhd)
- Latest audited account
- Memorandum & Article of Association
CIMB Islamic Bank Car Loan Interest RatesUpdated on 19 Jan 2017
|Margin of Finance||Up to 90%|
|Guarantor Requirement||No Info|
Features of CIMB Islamic Bank Car Loan
CIMB Islamic Bank offers auto finance packages catering to the requirements of its customers. The loans offered by CIMB Islamic Bank are processed very quickly and are easy to apply. With a good network of branches, online payment options and attractive interest rates, CIMB Islamic Bank Car Loans are a convenient option for Malaysians
The finance amount depends on the types of vehicle. CIMB Islamic Bank offers car loans for new passenger cars or a second-hand passenger car. The financing services can be enjoined by Malaysians and non-Malaysians as per the requirement.
Why CIMB Islamic Bank Car Loan?
You can choose CIMB Islamic Bank Car Loan for your vehicle financing need, because of many favorable reasons. Few of them are listed below:
Easy financing facility – The bank provides easy finance facility based on Shariah principles.
Fast approval- Applicants can get fast processing of the loan application.
Payment options - Easy payments at over 300 CIMB branches and auto financing divisions through online banking, cash payments at branches or ATMs, or by setting up automatic payments via standing instruction.
Other features - Takaful for road taxes and motor coverage, Competitive and lucrative terms of underwriting.
Margin- Financing up to 90% of the value of vehicle
Financing tenure – The loan tenure is up to 9 years (108 months)
How can I apply for CIMB Islamic Bank Car Loan?
The procedure for applying for CIMB Islamic Bank Car Loan is really simple and flexible. You can submit application form along with the required documents like identity proof, address proof, passport size photographs, income documents and bank statements at any of your nearest CIMB branches. The bank has about 300 branches in Malaysia.
Other Products offered by CIMB Islamic:
Apart from offering Car Loan, CIMB Islamic offers other products and services which include:
CIMB Islamic Car Loan FAQ's
What are the car loan schemes offered by CIMB Islamic Bank?
CIMB Islamic Bank offers the following car loan scheme - Hire Purchase-i. By opting for this car loan scheme, you can easily purchase the car of your choice.
How does Hire Purchase-i function?
The Hire Purchase-i is a customized car loan scheme offered by CIMB Islamic Bank to help you purchase both new as well as used cars at attractive rates of interest.
Does CIMB Islamic Bank offer high margin of financing?
Yes, the bank offer finance up to 90%.
What is the car loan repayment tenure determined by CIMB Islamic Bank?
The car loan repayment tenure determined by the bank is 9 years within which you need to repay your car loan.
Can I opt for fixed rates on my CIMB Islamic Car Loan?
Yes, you can opt for fixed rates on your CIMB Islamic Car Loan. The bank allows you to choose between fixed and variable rates.
What is the procedure of repaying CIMB Car loan?
You can repay your CIMB Car Loan by paying the amount in installments.
What if I want to repay my car loan online, is that facility available?
Yes, you can repay your car loan by using the bank's internet banking facility.
Apart from online banking, what are the other methods of repaying my car loan monthly installments?
You can visit the nearest branch of your CIMB. Also, you can deposit the amount at ATMs or Cash Deposit Machines, and set standing instructions.
Does CIMB Islamic Bank offer finance for commercial vehicles?
Yes, the bank provides finance for commercial vehicles.
If I purchase a foreign car, will I get finance from CIMB Islamic Bank?
Yes, you will receive finance from CIMB Islamic Bank to purchase a foreign vehicle.
Who can apply for CIMB Islamic Car Loan?
Both salaried, self-employed and public companies can apply for this car loan.
How much Stamp Duty charge do I need to pay?
You need to pay RM 10 as Stamp Duty charge.
Do I need to pay Road Tax Renewal fees?
Yes, you need to pay an amount of RM10.60 as road tax renewal fees.