HSBC Amanah offers Islamic banking products ranging from credit cards to personal financing. The HSBC Amanah Personal Loan or HSBC Amanah Personal Financing -i caters to your monetary needs and offers you flexible repayment tenures and affordable rates.
Rates last updated February 20th, 2018
|Name of Personal Loan||Profit Rates||Max. Loan Amount||Min. monthly income||Tenure||Processing Fee|
|HSBC Amanah Personal Financing-i||Flat rate starting from 10.5% p.a. to 12.5% p.a.||RM150,000||RM3,000||7 years||NA|
|HSBC Amanah Personal Financing-i (Education)||Base Financing Rate is 6.74% p.a.||As per the bank’s discretion||NA||As per the bank’s discretion||NA|
|Profit Rate (p.a.)||Starting from 10.5% p.a.(Flat Rate)|
|Loan Tenure||7 years|
|Min. monthly income||RM3,000|
|Min. Loan Amount||RM6,000|
|Loan Tenure||Processing Fee||Profit Rates|
|HSBC Amanah Personal Financing-i||HSBC Amanah Personal Financing-i (Education)||HSBC Amanah Personal Financing-i||HSBC Amanah Personal Financing-i (Education)|
|24 months to 84 months (2 - 7 years)||None||None||Flat rate from 10.5% p.a. to 12.5% p.a.||Base Financing Rate is 6.74% p.a.|
You need to pay the following fees and charges when you obtain a financing facility:
|Fee Type||Fees and Charges|
|Late payment fee||1% of the existing outstanding amount|
|Early termination fee||None|
|Any other fees such as minimum interest charge, cheque charge, etc. (if applicable)||None|
For salaried employee:
For variable income earner:
For self-employed applicant:
Online application: The ‘Apply Now’ tab on the official website of the bank gives you a link to the application form. Make sure that you fill in all the details requested in the form and submit a printout to your nearest branch. All mandatory documents are required to be attached with the application form.
Offline Application: You can manually make the application for any of your preferred schemes by visiting the nearest branch of the bank. Ask the bank representatives for an application form and fill it with appropriate details. Attach a required set of documents with this form and submit it to the representative.
Once your application is approved, you will get access to the funds within two working days which you can also draw through your internet banking facility.
HSBC Amanah Personal Financing - i offers you plans that you can utilise as per your requirements. The schemes can be used for any emergency requirements or for relatively small jobs like home renovation, wedding ceremonies, traveling, etc. It also caters to your education related necessities and helps you fund your studies in an affordable manner. The plans come with easy tenures of up to 7 years which means there is a lower financial burden on your pocket.
To plan your finances better, it is important that you do a systematic calculation before applying for a loan/financing scheme. You can find a personal financing calculator on the official website of the bank through which you can estimate your total financing amount and calculate your repayments.
In this calculator, you will have to insert the values for your monthly income and preferred financing tenure to get the approximate results for your financing amount. Your actual funding depends upon the bank’s credit assessment.
The bank provides a number of modes to make your repayments.
If you have any query or doubt regarding the schemes, you can contact the bank representatives on the hotline: 1300 80 2626 (For local calls) or 603 - 8321 5200 (for overseas calls). You can also write an email to email@example.com if you want to make a complaint. If you come across any difficulties while making payments, you can talk to customer care representatives on 603 - 2690 9000.
Q. Do I need to pay any charges to obtain an email statement facility?
A. You do not require to pay any charges to get your statements via email.
Q. Is it compulsory to have a takaful cover?
A. Takaful cover is not compulsory and it is a facility that you can voluntarily choose while obtaining the facility.
Q. Do I need to present a guarantor or collateral?
A. HSBC Amanah Personal Financing-i is an unsecured facility and you do not need to present a guarantor or collateral to obtain the financing amount.
Q. Will I get Ibra’ (rebate) for early settlement?
A. If you settle your loan earlier than the given date, you will get Ibra’ on the bank’s selling price based on the calculation done by the bank. You have to give a written notice one month in advance if you want to go for early settlement.
Q. Which Shariah concept is applied for Personal Financing-i?
A. The concept of commodity Murabaha (cost plus profit) is applied here where the bank will buy a commodity on your behalf and later it will sell the Shariah-compliant commodity to you as per the bank’s selling price that includes cost price plus applicable profit rate.