• Maybank Commodity Murabahah Home Financing-i
    Home Loan BYTES FROM OUR KITCHEN

    Maybank Commodity Murabahah Home Financing-i

    The Commodity Murabahah Home Financing-i is ahome loan that is based on Shariah concept of commodity Murabahah. Here, Maybank will provide a loan by trading with Shariah-compliant commodities. This home loan offers fixed, variable, or tiered profit rates.

    Margin of Financing Up to 100%
    Type of Financing Semi-Flexi
    Financing Tenure Up to 35 years
    Interest Rate 3.25% (BR) + 1.35% p.a.

    Features and Benefits

    • Get a higher financing margin of 100% of the price of your property.
    • Get a flexible and long tenure of up to 35 years.
    • Do not pay any penalty fees to settle your loan early before the tenure ends.
    • Get a 20% reduction on Stamp Duty charges on new loans.
    • Enjoy a rebate when you settle your loan before the maturity date.
    • Get MRTT coverage to cover the outstanding dues during unfortunate circumstances.
    • Get financing of up to 70% of your gross annual income.
    • Get financing for residential properties under construction.
    • Get additional financing for any home improvements and renovations.

    Fees and Charges

    Profit Rate 3.25% (BR) + 1.35% p.a.
    Stamp Duty As per Stamp Duty Act 1949
    Processing Fee RM50 to RM200 (one-time fee based on your financing amount)
    Trading Fee None
    EPF Withdrawal RM10 (each request)
    Legal Fee Solicitor’s fee for registration of charge, loan documentation, bankruptcy search, and land search
    Late Payment Fee 1% of the total outstanding amount
    Early Exit Penalty None
    Cancellation Before instruction is issued to solicitors to prepare security documents: RM930 After instruction is issued to solicitors to prepare security documents: RM1,100
    Excess Payment Withdrawal RM25 (each successful withdrawal)
    Redemption Letter RM50 (each request)

    Eligibility

    Nationality Malaysian citizens, permanent residents and non-residents
    Age Less than 70 years (at time of loan maturity)

    Required Documents

    Salaried Applicants Copy of NRIC (front and back) Latest salary slips (3 months) Latest EPF statement Copy of the Sales and Purchase agreement Copy of the Title Deed Copy of the valuation report (if required)
    Self-employed Applicants Copy of NRIC (front and back) Latest financial statements (3 years) Latest commission statement Latest bank statements (6 months) Registration Form or Form 24 and 29 Latest Form B Copy of the Sales and Purchase agreement Copy of the Title Deed Copy of the valuation report (if required)
    Expatriates Copy of passport Valid working permit, employment pass, or visa Latest salary slips (as required by Maybank Islamic) Latest bank statements (as required by Maybank Islamic) Copy of the Sales and Purchase agreement Copy of the Title Deed Copy of the valuation report (if required)

    How to Apply

    Online Application Complete and submit an online enquiry form available on the bank website. A bank representative will contact you to assist you with the application process.
    Branch Application Visit your nearest branch and speak to a branch representative. Carry the mandatory documents with you. Complete and submit the application form along with the mandatory documents.

    The Maybank Commodity Murabahah Home Financing-i allows you to purchase your preferred residential property, as well as acquire financing for home improvements, and purchase of vacant land to construct your house. You can restructure your current home loan meet your financial needs and save money. You can also conveniently repay your loan through online banking, phone banking, ATMs and Maybank Islamic branches.

    FAQs

    Q. Will I be charged any brokerage fee for this loan?

    A. No. You need not pay any brokerage fee for this loan.

    Q. What does the MRTT coverage include?

    A. The MRTT plan will cover you for any outstanding loan dues in the event of death, or total and permanent disability. It will help to transfer the title deed of your property to your family members in such an event.

    Q. How much rebate would I get if I settle my loan early?

    A. The rebate would be calculated on a pro rata basis based on your completed tenure. Maybank would inform you of the rebate amount during the time of loan settlement.

    Q. Is there a lock-in period penalty fee for this loan?

    A. No. There is no lock-in period penalty fee for this home loan.

    Q. Can I use a solicitor of my own for this home loan?

    A. A solicitor of your own choice is not recommended for a home loan. Hire a solicitor from the approved panel of Maybank Islamic to ensure that your loan is processed quickly.  

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