A "low interest" loan shouldn't mean you have very little interest in paying it back!
OCBC Warisan-i is an Islamic home financing solution (Manarat Home-i) that gives you a chance to leverage on your house. The plan is based on the Shariah concept of Ijarah Muntahiah bi Al-Tamlik.
Let us find out more about the scheme offered by OCBC Al-Amin Bank (Malaysia) Berhad.
|Margin of Financing
||As per the bank’s discretion
||Whichever is earlier between a maximum of 35 years and up to 70 years of age
|Type of Properties Covered
|Type of Loan
|Interest/Profit Rate (p.a.)
||Pegged to the base rate (current base rate (BR) is 4.08% p.a.)
|Effective Lending Rate
- The profit rate is calculated on daily rest basis.
Fees and Charges
|Stamp Duty Charges
||As per the Stamp Act 1949 (revised in 1989)
|Late Payment Charges
||1% of the unsettled amount (during the financing tenure)
As per the applicable IIMM (Islamic Interbank Money Market) rate (after the maturity of financing tenure)
||Maximum age: 70 years
- A copy of identity card (NRIC or MyKad)
- Latest salary slips
- Latest EPF statement
- Any other document as asked by the bank
How to Apply
- Visit any nearest branch of the bank.
- Fill up an application form with all the mandatory information.
- Attach all relevant documents while submitting the form.
||Call on 603-8314 9310 to know more about the application process.
Consider this plan if you are looking for a home financing package that functions on Islamic principles. Contact the bank for applicable profit rates and any further information.
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