RHB Equity Home Financing-I (Islamic)

Up to 35 years

Full-Flexi Islamic financing

Floating Profit Rate

3 years lock in period

Up to 90% 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

RHB Equity Home Financing-i

Dependable and flexible home financing from RHB that's fully compliant with Shariah principles via the concept of MusyarakahMutanaqisah.

    • Up to 35 years
    • Full-Flexi Islamic financing
    • Floating Profit Rate
    • 3 years lock in period
    • Up to 90% margin of finance
    • 30 days approval
    •  
  •  

You Borrow

Estimated Profit Rate

more than RM100000

4.25% p.a.
  • *Effective profit rate will be determined by RHB 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 - Subject to terms of agreement with bank

Redemption Letter Fee - RM53.00 per request

Letter for EPF Withdrawal Fee - RM21.20 per request

Insurance Types - Liability Reducing Term Takaful

  • MRTT

*inclusive of 6% GST

 

Requirements

Are you eligible for this RHB home financing?

Minimum annual income - RM18000

Minimum age - 18 years old

Maximum age - 60 years old

Who can Apply - Any nationality

 

Frequently Asked Questions about RHB Equity Home Financing-i

Things you might want to know

 

What is RHB Equity Home Financing-i Home Loan?

RHB Equity Home Financing-i home loan is a syariah compliant mortgage with a variable interest rate pegged to the Islamic Base Rate. It is a full-flexibile home loan based on the Islamic principle of MusyarakahMutanaqisah.

MusyarakahMutanaqisah, or Diminishing Partnership, is a contract between you and RHB to acquire the property together. For example, if you apply for and are approved for 90% financing, RHB owns 90% of the share at the beginning of the mortgage tenure and you own 10%.

As you pay your monthly installments you are gradually purchasing the bank’s share which includes a profit rate (loan interest). At the end of the financing period you’ll own 100% of your home.

As this loan is semi-flexible, you can make excess payments on top of your regular monthly installments to reduce your loan principal. This will also reduce the total amount of interest that you pay.

You can also include Liability Reducing Term Takaful (a MRTT-like insurance) and House Owner Takaful (House content insurance) to your financing amount.

 

Can I pay extra money onto my loan to decrease the principal?

Can! Anytime that you have extra cash to spare you can pay it into your mortgage against the principal. When you make your payment you must inform the bank that it is for principal reduction.

 

Can I redraw surplus cash that I’ve paid onto the principal?

Cannot. Sorry, with RHB Equity Home Financing-I this feature is not available.

 

Do I need to buy any insurance with this home loan?

House Owner Takaful (house content insurance) is compulsory and Liability Reducing Term Takaful (LRTT) is optional, but strongly advised.

 

What do I need to apply for this home loan?

If you are an employee earning a salary

A copy of Sale and Purchase Agreement or Booking Receipts
A copy of your identification card (front and back) or passport (first page)
Latest 3 months salary slip
Latest 3 months salary crediting statement
Latest EPF statement
Latest BE Form + Tax payment receipt

 

If you are self-employed

A copy of your identification card (front and back) or passport (first page) Sole Proprietor & Partnership – Form A & D
Private Limited – Form 24 & 49
Latest Form B + Tax payment receipt
Latest 6 months current account statement
A copy of Sale and Purchase Agreement or Booking Receipts