Maybank-Maybank HomeEquity-i(conventional)

Up to 35 years

Term Islamic financing

Floating Profit Rate

0 years lock in period

Up to 100% margin

30 days approval


Borrowing RM Monthly Repayment
RM


Profit Rate

%
How Long Year
max 35 Year
Flexi/Term Lock in Period Islamic or Conventional
All Flexi Term All Yes No All Islamic Conventional

Maybank HomeEquity-i

A conventional Shariah-compliant home loan based on the concept of MusyarakahMutanaqisah

    • Up to 35 years
    • Term Islamic financing
    • Floating Profit Rate
    • 0 years lock in period
    • Up to 100% margin of finance
    • 30 days approval
    •  

You Borrow

Estimated Profit Rate

more than RM10000

4.25% p.a.
  • *Effective profit rate will be determined by Maybank upon approval.

 

Fees & Charges

There are always fees but how much are they?

Late Penalty Fee - 1% p.a. of the outstanding amount

Processing Fee - No Fee

Early Settlement Fee - 0%

Redemption Letter Fee - RM53.00 per request

Letter for EPF Withdrawal Fee - RM10.60 per request

Insurance Types - MRTT

*inclusive of 6% GST

 

Requirements

Are you eligible for this Maybank home financing?

Minimum annual income - RM24000

Minimum age - 21 years old

Maximum age - 70 years old

Who can Apply - Any nationality

 

Frequently Asked Questions about Maybank HomeEquity-i

Things you might want to know

 

Tell me about Maybank HomeEquity-i?

Maybank Home Equity-i is a Syariah-compliant home mortgage based on the concept of MusyarakahMutanaqisah, a diminishing partnership via leasing concept.

Maybank Islamic and you enter into a ‘partnership’ to raise capital to acquire the property and become joint property owners with a share allotment based on the amount contributed i.e. if you take up 95% margin loan, then your share allotment is 15% and the bank is 85%. You then gradually acquire the bank’s ownership of the property with your monthly installment.

This is a non-flexi loan so you don't have the option to bank-in extra cash as and when you want to decrease your loan principal. You can't withdraw cash paid onto your mortgage either.

This loan can be use to finance the purchase of residential properties, whether completed or under-construction. It's also possible to use the HomeEquity-i refinancing / remortgage and restructuring.

 

Do I need to buy any insurance when I take this home loan?

You will have to buy Homebuilding Takaful or Fire Insurance. The premium is payable annually.

The bank will ask you to buy MRTT. It is not compulsory. It is a life insurance plan that covers your home loan. The Takaful plan will pay the bank the outstanding amount you still owed to the bank, only in the event of your death or when you’re declared permanently disabled.

 

What kind of documents do I need to provide to apply for this loan?

Complete the Application Form
Include a copy of SPA / Booking receipts / Letter of Offer from Developer

Include a copy of individual title head and property valuation report for completed properties

 

Salaried applicant:

Copy of MyKad (front and back) or latest valid passport
Last 3 consecutive months salary slips or 6 consecutive months commission statement

Latest EPF statements with 3 consecutive months or more transaction history

2 years EA From with tax receipt duly acknowledged by LHDN

Last 6 months Bank Statement
Letter of Confirmation of Employment and Remuneration from your employer

 

Self-employed applicant:

Copy of MyKad (front and back) or latest valid passport
Business Registration Certificate – Form 24 and Form 49
Last 6 months bank statements
Latest EPF statements
Latest commission statement issued by company
Audited financial statement of business

2 years BE form with tax receipt duly acknowledged by LHDN