Cash woes? A personal loan to the rescue!

    MBSB Personal Financing-i Private Sector

    MBSB offers personal financing to the private sector employees and self-employed practicing professionals. Based on the Shariah principle of Tawarruq and Murabahah, the MBSB Personal Financing-i Private Sector is calculated on variable rate basis.

    Features and Benefits

    • It is an unsecured personal financing and does not need a guarantor or collateral at the time of applying for the loan.
    • The personal financing scheme is eligible for permanent employees of public listed companies, GLC, State GLC, multinational corporations, education sector companies and its subsidiaries, professional employees and self-employed practicing professionals who have valid professional certificate showing at least 2 years of business or firm establishment are also eligible for this financing scheme.
    • The personal financing is offered at a risk based low prising at ECOF-i +4.10% p.a. which is equal to 6.43% p.a. flat rate at 10 years term. (ECOF-i = Islamic Effective Cost of Fund)
    • Taking a takaful coverage is optional for this scheme.
    • A customer can get a maximum personal financing worth RM300,000 through this scheme.
    • A customer will get a rebate for early settlement of the financing amount.

    Profit Rate

    As the loan is given as per the Islamic principle of personal financing, profit rate are applicable on the financed amount instead of interest rate.

    Loan Tenure Processing Fee Profit Rate
    2 to 10 years No fee charged ECOF-i +4.10% p.a. which is equivalent to 6.43% p.a. flat rate

    Fees and Charges

    Fee Type Charges
    Processing fee No fee charged
    Late payment Fee 1% p.a. on the amount in debts and not compounded
    Early Termination Fee As per the company’s discretion
    Stamp Duty Nil
    Interbank Giro Fee RM4 (if applicable)
    Takaful Contribution RM600
    Handing Fee RM120
    Wakalah Fee RM36.04 (including GST)
    Interbank Giro (IBG) Fee RM4.24 (including GST)


    • Nationality criterion: Malaysian
    • Age criteria:
    • Minimum age: 21 years
    • Maximum age: 60 years (at the time of expiration of facility or selected retirement age, whichever comes first among two)
    • Permanent employees of the above listed organization or self-employed professionals with valid professional certificates can apply for the personal financing scheme.

    What documents are required?

    For an employed applicant:

    • Copy of MyKad (Malaysian Identity Card) or Passport or Military or Police ID for applicant and guarantor (if any)
    • 3 months’ payslips (latest)
    • Latest Year of BE Form and Tax Receipt or EA Form or EPF statement with details
    • Validation letter from the employer
    • Savings or current account statements showing salary being credited (latest 3 months)

    For a self-employed applicant:

    • Copy of MyKad (Malaysian Identity Card) or Passport both for applicant and guarantor (if any)
    • Form 9,24,49, B & D, Business Registration Form, Memorandum and Articles of Association (any one)
    • Licence for professional certificate
    • B Form and Tax Receipt (for latest one year)
    • Current account statements for last 6 months (company and personal)

    Other supporting documents required:

    • A completed and signed application form
    • Redemption Statement for other valid settlement (if any)
    • BPA 1/79 Form signed by applicant (Sec. I & II) and verified by Head of Department (Sec. IV) (for Biro)
    • Undertaking letter for employer salary deduction (for non Biro)
    • Employer salary deduction form (For Federal AG / State AG Only)
    • Confirmation letter on retirement age
    • Copy of savings account passbook (for PF-i net pay-out to be credited)

    How to apply?

    Application process for the personal loan involves the following:

    Offline application: An applicant can go to the nearest centre of MBSB and get an application form for personal financing-i (Private Sector). Applicants can fill the form with all details and documents attached with it and submit it to the particular department.

    Online application: An application form is available on the official website of MBSB - An applicant can print the form and write the required information in the blank spaces. He/she can later submit it with the company’s official centre along with the documents required.


    Q. What is the financing tenure offered for the MBSB Personal Financing-i Private Sector?

    A. The minimum financing tenure is 2 years and it expands up to 10 years as per the income limit and financing amount of the customer.

    Q. How is rebate (Ibra’) calculated when a customer settles his dues earlier than the desired tenure limit?

    A. As per the Ibra adjustment determined by the bank, if a customer chooses to make an early payment, he/she will be granted a rebate. The rebate can be calculated according to the following equations:

    Ibra (rebate) at settlement = Deferred Profit - Early settlement charges

    Ibra' (rebate) due to fluctuations of Effective Profit Rate (EPR) = The difference between profits based on Effective Profit Rate (EPR) and Ceiling Profit Rate (CPR)

    Total Ibra' (rebate) = Ibra' (rebate) at settlement + Actual Ibra' (rebate) due to fluctuations of EPR

    Settlement Amount = Outstanding Selling Price + Instalments due (if any) + Late payment charges (if any) - Adjustment on Ibra' due to fluctuations of EPR (if any) - Ibra' at settlement

    Q. How can I reach the customer care executives?

    A. You can call the local and toll-free number: 03-2082 8000 / 1800-88-4000 to reach to the customer service department of the company.

    Q. How much of takaful coverage I should get if I am planning to do so?

    A. The contribution amount for takaful (insurance) coverage depends on your age and the tenure of personal financing applied under the scheme. It will be deducted upfront from the financing amount or to be financed into the financing amount.

    Q. Is a guarantor a must to acquire this loan?

    A. No. The requirement of a guarantor is mandatory as per the bank’s discretion and is subjective to individual applications.

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