MBSB Home Loan
Malaysia Building Society Berhad (MBSB) Bank provides Consumer Banking, Trade Financing, and Shariah compliant products and services to its customers. Under financing products, it offers Property Financing-i, which consists of residential property financing packages and commercial property financing packages.
The home loan packages come with a variable profit rate. The profit rate has a ceiling limit to prevent undue fluctuations. The ceiling limit is capped to 11% p.a.
Fees & Charges
||As per the Stamp Duty Act 1949.
|Legal & Disbursement
||Includes solicitor fees for loan documentation, land search, and so on. This is subject to GST.
- For residential properties - Waived
- For commercial properties - 0.15% on the approved financing amount.
|EPF withdrawal letter
||Only for completed properties.
||Malaysian citizens and Non-Malaysian citizens
||As per the bank’s discretion; and less than 40 years (for My First Home Scheme-i)
||As per the bank’s discretion
For Salaried Applicants:
- A photocopy of MyKad.
- Latest BE Form and Tax Receipt
- Last 3 months Savings/Current Account Statements
- Last 3 months salary slip
- Letter of Employment
- Latest EPF statement
- Sale and Purchase Agreement
For Self-employed Applicants:
- A photocopy of MyKad
- Business Registration/Form 9, 24, 49, B&D/M&A
- Latest B Form and Tax Receipt
- Last 6 months current account statements
- Sale and Purchase Agreement
- Last 3 years Audited Accounts
How To Apply
- Online Application: You can download the application form from the official website of MBSB. You must fill up the form and submit it through the website along with the relevant documents.
- Offline Application: You can visit the nearest branch and collect the application form. Thereafter, you can fill up the form, attach the necessary documents and submit it to the bank.
Types Of MBSB Home Loan
- Standard Home Financing: You can get this loan if you wish to buy a residential property( completed & under-construction) or vacant land. The financing amount is RM500,000. You need not pay any early settlement charges.
- Ultimate Home Financing: Based on the Shariah concept of Tawarruq, this financing facility allows you to buy a residential property as well as vacant land. The financing amount offered is RM500,000 and above. The loan repayment period is up to 35 years or till you attain 75 years of age, whichever is earlier.
- My First Home Scheme-i: This loan is specially designed for first-time homebuyers. This is only available for residential properties with the minimum property value of RM100,000 up to a maximum of RM500,000. If you are a Malaysian citizen and your age is 40 years and below, then you can apply for this loan.
Features & Benefits
- The loan packages are offered on a variable rate basis.
- The finance margin varies between 60% to 100% depending upon the type of home loan package you select.
- The loan offers financing for MRTA and legal fees as well, depending on the loan package opted for.
- You can refinance a property free from encumbrances.
- You can get refinancing facility on your existing loan or any property free from encumbrances.
- There are no processing fees.
MBSB home loan online calculator helps you to figure out how much you need to pay for your home financing. For this, you must fill up the necessary fields like Financing Amount, Effective Profit Rate, loan tenure etc.
MBSB Home Loan for Foreigners
The MBSB home loan packages are available for foreigners and non-Malaysians, provided they meet the required eligibility criteria for the loan.
MBSB Home Loan Refinance
The Standard Home Financing-i and Ultimate Home Financing allows you to go for refinancing of an existing mortgage financing from other bank/financial institutions.
You can call at 03-2096 3000 if you have any queries or complaints.
Q. When can I get Ibra’?
A. You can get Ibra’ under the following situations:
- If the profit (based on effective profit rate) is lower than the profit amount (based on the ceiling profit rate).
- If you settle the financing facility fully in the event of the following:
- Default by you.
- If you cancel the financing facility before its expiry.
- If you fully pay the amount before its due date.
Q. What happens if I fully settle the financing facility before its maturity?
A. If you opt for an early settlement of the financing facility, you need to pay MBSB the actual costs incurred and duly paid by it on your behalf.
Q. What are the different payment modes available?
A.The different payment modes that are available are fixed and bullet.
Q. What do I do if I have any issues with a particular product?
A.You can send a mail to [email protected]
Q. Do I need a guarantor?
A. Whether you need a guarantor or not depends on your credit assessment done by the bank.
Q. Can I top up my loan?
A. Yes. MBSB allows you to top up your loan. You can get additional finance facility for working capital, education, renovation, etc.