An Islamic Personal Loan Exclusively for Armed Forces Pensioners and Government Organization Staff
The Pembiayaan Pengurusan Kewangan (PPK) Personal Financing-i is an Islamic concept of personal financing offered by the Bank Muamalat Malaysia Berhad (BMMB). This personal financing scheme caters exclusively to the Armed Forces Pensioners and Government Organization Staff who are looking for debt settlement and investment. All Federal, State Government or GLC staff can obtain this scheme of personal financing. The loan works on the concept of Tawarruq.
|Loan Amount||Loan Tenure||Minimum Income||Profit Rate|
|Up to RM150,000||3 to 10 years||NA||5.5% p.a. (flat rate) Floating rate capped at 11% p.a.|
|Interest Rate||Starting from flat rate of 5.5% p.a.|
|Minimum Loan Amount||RM5,000|
|Maximum Loan Amount||Up to RM150,000|
|Loan Tenure||3 to 10 years|
|Government Servant?||Government and non-government|
A customer will have to pay the fees and charges mentioned below when he chooses the Bank Muamalat Pembiayaan Pengurusan Kewangan (PPK) Personal Financing-i:
(The charges mentioned below are inclusive of 6% GST (Goods and Services Tax) wherever it is applicable.)
|Stamp Duty Charges||As per the Stamp Duty Act 1949|
|Disbursement and Miscellaneous Fee||NA|
|Early Settlement Charges||No fee charged Bank will provide ibra (rebate) on early settlement of the financing facility|
|Late Payment Charges (Ta’widh)||1% p.a. on total outstanding amount|
|Employment||Government: Confirmed employee Non-government: Permanent and Confirmed staff with minimum 3 years in service|
|Minimum Income Requirement||NA|
|Guarantor/Collateral Requirement||Guarantor or collateral not required|
|Should I have a linked bank account?||NA|
Offline Application: A customer can apply for the personal financing by visiting the nearest branch of Bank Muamalat and will have to fill and submit the application along with all the required supporting documents.
Q. What is the minimum amount of personal financing that I can obtain through Bank Muamalat Pembiayaan Pengurusan Kewangan (PPK) Personal Financing-i?
A. The minimum limit for financing amount is RM5,000 for any eligible customer.
Q. What will be the mode of payment after obtaining the loan?
A. A customer can make payments through their salary account with Bank Muamalat Malaysia Berhad or can also opt for salary deduction at source.
Q. How do I know if the fees and charges applicable are changed by the bank?
A. The bank will inform to all its customers at least 21 calendar days in advance if there are any changes in fee structure and charges of this product.
Q. What will happen if as a customer, I fail to make repayments in the allotted time?
A. You can contact to the bank in such cases so that the bank will inform you about the alternatives. If you fail to make the payments on a regular basis, the bank may take a legal action against you and inform you so through the letters and notices.
Q. For what purpose can I use the Bank Muamalat Pembiayaan Pengurusan Kewangan (PPK) Personal Financing-i?
A. The Bank Muamalat Pembiayaan Pengurusan Kewangan (PPK) Personal Financing-i is ideal for your debt settlement and any investment you want to make without sabotaging your savings. Government employees and pensioners can make the best of the scheme with its competitive flat and floating profit rates.