The Flexi Business Premises Financing-i is basically a combination of Business Premises Financing-i and the special designated Islamic current account namely Special Mudharabah Current Account-i.
The beauty of this product is that it gives customers flexibility to pay their monthly installment whilst at the same time provides a withdrawal facility as well on the customer’s current account (on available credit balance in the Current Account). The product will be based on the prevailing market rate / floating rate but protected by the mechanism of Capping Rate in the events the rate moves up a lot.
Features and Benefits
- Applicants enjoy a flexible financing period of up to 40 years or up to the age of 70 years, whichever is earlier.
- Up to 90% facility margin of financing plus 5% of General Mortgage Term Takaful (GMTT).
- Monthly Profit Payment on daily balance in Mudharabah Current Account-i (Flexi Financing) where the profit accrued daily.
- Ibra’ is given for the difference between the CPR and EPR.
- The rates are protected by ceiling rate.
- Identity card or passport.
- Latest 3 months salary slips.
- Latest EA form (where applicable).
- EPF statement.
- Employment letter.
- Sales & Purchase Agreement or booking receipt and purchase form.
- Latest 1 year financing statement (for refinancing).
- Any other relevant documents to show proof of income and net worth i.e bank statement for the past 6 months.
Fees and Charges
Non Free Moving Cost (NFMC) – All costs and charges incurred in relation to the facility (i.e takaful, valuation fee, legal and stamping fees) are to be borne by the customer.
How to Apply?
Call us at 1300 880 900 or +603 22956100
*This page contains information sourced on 3 Nov 2010. Please check with the bank for the latest updates.
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