Maybank- Maybank Commodity Murabahah Home Financing-I (Islamic)

Up to 35 years

Term Islamic financing

Fixed/Floating Profit Rate

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 Commodity Murabahah Home Financing-i

The only shariah compliant home loan based on the concept of Murabahah (cost plus profit) in Malaysia

    • Up to 35 years
    • Term Islamic financing
    • Fixed/Floating Profit Rate
    • 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 Commodity Murabahah Home Financing-i

Things you might want to know

 

What is Commodity Murabahah Home Financing-i?

Maybank Commodity Murabahah Home Financing-i is a variable-rate, Syariah compliant home financing plan based on the concept of Murabahah via Tawarruq or Commodity Murabahah arrangement, a cost plus profit concept.

Technically, Maybank provides home financing to you via trading of Shariah compliant commodities, such as Crude Palm Oil and RBD Palm Olein. You will not be charged brokerage or trading fee for the commodity trading, the bank will manage all this for you.

Home Financing-i comes in three flavours: fixed rate, tiered rate or variable profit rate. You can choose which one best suits our finances. The variable rate is capped, so if the IBR moves to much in the market you won't be affected by severe interest changes.

Recognising that us Malaysians like nothing more than a newly built place of our own, Home Financing-i can be used to buy residential property that is under construction as long the value is greater than RM75000. The plan may also be used for refinancing, remortgaging and restructuring.

You can bank-in extra funds to reduce the loan principal as well as withdrawing it during emergencies. It will cost you RM 25 per withdrawal and this can only be done at home branch.

The minimum financing amount is RM10000. We checked and that's the lowest borrowing sum for a mortgage in Malaysia.

 

Do I need insurance?

Homebuilding Takaful (Fire Insurance) is compulsory. The premium is payable annually. Maybank will ask whether you want to buy MRTT. This is not compulsory but bear in mind that such insurance will settle your outstanding mortgage should anything terrible happen to you. The one-off premium is calculated on your age, financing amount, tenure and interest rate. You can pay cash when you're approved or include the premium in your loan, up to you.

 

Can a foreigner apply?

Sure thing, you can apply. However, your financing amount must be greater than RM500000.

 

I am a non-Muslim; can I apply this loan?

Can. Maybank Islamic home loans are open to everyone.

 

What kind of documents will 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 applicants:

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 applicants:

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
Audited financial statement of business
2 years BE form with tax receipt duly acknowledged by LHDN
Latest tax payment receipt