CIMB Islamic Bank offers the Flexi Home Financing-i home loan scheme wherein users get a Islamic compliant loan for their home financing requirements. The Flexi Home Financing-i scheme combines the best of Variable Home Financing-i and the specially designed Islamic current account known as the Special Mudharabah Current Account-i. This home loan scheme gives loan borrowers the flexibility to pay their monthly installment while providing withdrawal facilities on the customer’s current account (as per the available credit balance in their current account).
You’re probably eligible for an CIMB Islamic Bank Home Loan if you are
At least 18 years old
Less than 70 years old
Salaried / Self-employed
with regular income
Earn more than the minimum
Your CIMB Islamic Bank Home Loan amount eligibility is based on these factors
Instalment limited to about 50%
of monthly income
Loan capped @ Up to 95%
Instalments of other loans lower
Increase your eligible CIMB Islamic Bank Home Loan amount by these steps
Make your spouse a co-applicant,
and her income will add
to your eligibility
Choose longer tenure loan up to 40 years
Alternatively add your parents
Documentation needed to apply for an CIMB Islamic Bank Home Loan
- 1. NRIC photocopy.
- 2. Latest 3 months' salary slip.
- 3. EA form / EPF statement (last 2 years).
- 4. Sales & Purchase Agreement / Booking receipt from developer.
- 5. Documentation for self-employed applicants:
- Business registration A&D
- Last 3 months bank statement
CIMB Islamic Bank Home Loan Interest RatesUpdated on 23 Jan 2017
|Margin of Finance||Up to 95%|
|Guarantor Requirement||No Guarantee Required|
Cimb Islamic Bank Overview
CIMB Islamic Bank is part of the CIMB Group which is a leading ASEAN universal bank. The CIMB Group is, today, the largest Asia-Pacific (ex-Japan) based investment bank and one of the world's largest Islamic banks. Headquartered in Kuala Lumpur, Malaysia, CIMB Islamic Bank offers consumer banking, wholesale banking, Islamic banking and asset management products and services. As the fifth largest banking group in the ASEAN region, the CIMB Group has over 40,000 staff in 18 locations across the ASEAN, Asia Pacific and beyond, making it one of the most successful banking companies in the world.
The CIMB group has total assets of RM 391.6 billion. The bank offers banking services and solutions in over 18 countries worldwide and has total funds under management to the tune of RM 57 billion. CIMB Islamic Bank Home Loan is one of the most preferred financial products in Malaysia.
What are the features and benefits of CIMB Islamic Bank’s home loans?
The Flexi Home Financing-i home loan from CIMB Islamic Bank offers a number of benefits to borrowers. The loan is available to finance all types of residential properties, completed or under construction. The Home Flexi-i offers flexibility of payment and lower profit charges with the advantage of earning a profit on the Mudharabah Current Account-i.
Who can apply for CIMB Islamic Bank’s home loans?
Any Malaysian citizen or a permanent resident above the age of 18 years is eligible for a home loan under the Flexi Home Financing-i scheme from CIMB Islamic Bank. The loan is available for both salaried as well as self-employed individuals on submitting the required documentation. This includes the Sales & Purchase Agreement / Booking receipt from the developer along with salary slips of the most recent three months and the EA form or EPF statement for the last two consecutive years. For self-employed individuals, submission of bank statements (last 3 months) of the business and the business registration A&D are required.
What are the fees and charges for CIMB Islamic Bank’s home loan?
All housing loans under the Flexi Home Financing-i home loan from CIMB Islamic Bank are applicable for Non-Free Moving Cost (NFMC). All costs and charges incurred in relation to this facility (including takaful, valuation fee, legal and stamping fees) are to be borne by the customer.
What is the Margin of financing available under CIMB Islamic Bank Home Loan?
Housing loans from CIMB Islamic Bank under the Flexi Home Financing-i scheme offer a high margin of finance. The scheme offers a margin of financing (MOF) up to 90% + 5% of the cost of the property. The loan further allows finance of GMTA making the home loan an ideal housing loan in Malaysian markets today.
What is the loan period under CIMB Islamic Bank Home Loan?
All housing loans under the Flexi Home Financing-i scheme from CIMB Islamic Bank come with long tenures allowing applicants the freedom to repay the loan economically and easily. Applicants can enjoy a flexible financing period of up to 40 years or up to the age of 70 years (borrower), whichever is higher.
Is there any other processing charge applicable under this scheme?
There will be a Non-Free Moving Cost (NFMC) i.e., the costs involved in connection to the facilities like takaful, valuation charges, legal and stamping charges.
How to Calculate Loan Installment for CIMB Islamic Home Loan?
Bbazaar.my hosts a simple yet extremely useful CIMB Islamic home loan installment calculator. This calculator takes in the most prominent parameters of home loan and processes this raw data to yield the monthly installment information. The best thing about this online calculator is that these parameters can be adjusted to reach that optimum value of monthly installment which you are most comfortable paying. The input data users are required to enter in the online tool are –
- Desired loan amount
- Preferred loan tenure
- Applicable profit rate
- Processing fee
Other Products offered by CIMB Islamic:
Apart from offering Home Loan,CIMB Islamic offers other products and services which include: