Maybank Islamic bank offers unsecured Personal Loans to Malaysian citizens for financing their personal expenses such as renovation of house, an overseas trip and other such expenditure. Any citizen working in private, public, government or self-employed business can apply for Maybank Islamic Personal Loan.The interest rate on these personal financing schemes of Maybank is competitively low at 6.5%-8% p.a. Maybank personal loans are generally granted within 2 days of the application date.
You’re probably eligible for an Maybank Islamic Bank Personal Loan if you are
21 Years and above
Less than 60 years old
Salaried or self-employed
with regular income
Earn more than the minimum
Your Maybank Islamic Bank Personal Loan amount eligibility is based on these factors
Minimum income required
Maximum allowed personal loan is RM 100,000
Installments of other loans lower
Increase your eligible Maybank Islamic Bank Personal Loan amount by these steps
Pay off your credit card bills
Choose longer tenure loan up to 6 years
Documentation needed to apply for MayBank Islamic Personal Loan
- 1.Photocopy of Identity Card
- 2. Copies of 3 months latest payslips certified by employer and an original latest payslip
- 3.Employer confirmation letter stating designation, duration of employment and salary
- 4. For professionals; copies of registration documents with relevant bodies and Certificate of Practice.
Maybank Islamic Bank Personal Loan Interest RatesUpdated on 05 Dec 2016
|Interest Rate updated as per the Eligible Loan Amount|| 11 % RM 5,000 to RM 20,000
10 % RM 20,001 to RM50,000
9% RM 50,001 to RM 100,000
|Minimum Income||RM 2,500|
|Guarantor Requirement||No Guarantee Required|
Maybank is one of the most popular and leading banks of Malaysia. The bank offers a wide range of cost effective and innovative financial products to suit the varying financial needs of customers in Malaysia. The bank also offers islamic finance products including Islamic personal loan. The bank offers the lowest interest rate when compared to other islamic banks on its Islamic loan products.
Maybank Islamic Personal Financing-i in Malaysia
Maybank offers four types of Islamic personal loan options for the people of Malaysia. These loan products are designed based on the principles of Sharia of the Islamic law. Each islamic personal loan option offered by the bank is aimed at different category of the society and each loan product comes with its own set of unique features and benefits. The loans offer high finance amount along with low rate of interest. It is one of the only banks in Malaysia that offers such varied range of Islamic personal loan products.
Types of Maybank Islamic Personal Loan offered in Malaysia
Listed below are the types of Maybank Islamic Personal Loan packages offered by Maybank for the customers in Malaysia.
Personal Financing i-scheme-This loan scheme is targeted specially at those customers who require immediate financing in Malaysia. The applicant needs to be above the age of 21 years to avail the loan with a minimum salary of RM 30,000 p.a. The loan option provides maximum finance amounts up to RM100,000 at a very low rate of interest. This is a regular personal loan scheme.
ExeCash i-Standard- The loan is designed based on the Sharia principles of borrowing and is available for individuals in Malaysia. The loan amount can be used for any legal personal expense ranging from house renovation to wedding expenses. The loan option provides finance up to 10 times the salary of the applicant for a maximum loan tenure of 5 years. Any Malaysian resident with a minimum salary of RM1,000 can apply for the loan.
ExeCash i-special-Just like the other Islamic loan options, this loan is designed based on the Sharia principles of the Islamic law and is 100% Sharia compliant. The ExeCash-i special can be applied by employees of selective companies listed by the bank. It is important that the individual be working for a minimum of two years in the company and earn a good income in order to be eligible for the loan.
ExeCash i- Government linked companies-This special personal loan option is offered for employees who are working in Government linked companies. The loan offers high competitive rate of interest and high loan amounts up to RM100,000. The loan option also offers additional benefit in the form of Accidental Death cover.
Features and benefits of Maybank Islamic Personal Loan
Listed below are the features and benefits of Maybank Islamic Personal Loan.
The loan options are based on the Sharia principles of the Islamic law
It is 100% Sharia compliant
Offers four types of personal loan packages
Offers the best rate of interest
Offers a mixture of long term and short term personal loans
The loan amount can be used for any legal personal expense
Offers a special loan package for the employees of Government linked companies
Offers high loan amount
Easy to apply for
Offers additional loan cover with certain loan packages
Hassle free application process
Can be applied for online
Interest rates for Maybank Islamic Personal Loan
The bank offers competitive rates of interest on all its Islamic personal loan packages. But it is important to note that these rates are subject to change from time to time.
How to apply for Maybank Islamic Personal Loan
There are two ways in which one can apply for Maybank Islamic personal loan- Online and offline.
Online- One can apply for the loan online by visiting the official website of the bank or one can also apply through third party financial websites.
Offline- One can apply for the loan offline by visiting one of the bank’s branches in Malaysia and apply for it there personally.
FAQs about Maybank Islamic Personal Loan
Listed below are some of the frequently asked questions about Maybank Islamic Personal loan.
1.What kind of loans are Maybank Islamic personal loan?
Maybank Islamic personal loans are personal loans which are designed based on the principles of the Islamic law.
2.Does the bank charge any early settlement fee on these loan packages?
The bank does not charge any early settlement fee for these loan packages.
3.How many types of personal loan packages does the bank offer?
The bank offers four types of Islamic personal loan packages.
4.Is there a way through which one can calculate the personal loan installment for Maybank Islamic personal loan?
One can calculate the personal loan installment amount through personal loan monthly payment calculator.
Other Products offered by Maybank Islamic:
Apart from offering personal loan, Maybank Islamic offers other products and services which includes: