SMIfunding - Maybank Islamic Personal Financing-i

Profit rates

Based on your loan amount & loan period, the interest rates are as low as the following

Financing Value Financing period Your Annual Income Profit Rate
RM5,000 - RM20,000 24 to 72 months min. RM42,000 8% p.a.
RM20,001 - RM50,000 24 to 72 months min. RM42,000 7% p.a.
RM50,001 - RM100,000 24 to 72 months min. RM42,000 6.5% p.a.

Financing period is minimum 24 months and maximum 72 months (depending on the financing tier selected)

Fees & Charges

Profit Rate / APR

As low as 6.5% p.a.*
*Subject to terms and conditions

Processing Fee

None

Stamp Duty

None

Early Termination Fee

None

Late Penalty Fee

1% from current outstanding amount, calculated from overdue date till date of full monthly payment

Requirements

Minimum Annual Income

RM42,000

Minimum Age

21 to 60 years old

Who can apply

Malaysians
Salaried employee
Self-employed

More Information

An easy-to-apply Islamic personal financing based on the Islamic contract of Commodity Murabahah for your personal and investment needs.

Enjoy a competitive flat profit rate throughout the entire borrowing tenure.

Why should I get Maybank Islamic Personal Financing-i?

It helps you secure a cash advance without the need for a guarantor or collateral, and allows you to access a higher financing limit without charging fees for processing and document stamping.

Plus, if you desperately need extra money, you can get your Maybank Islamic Personal Financing-i approved potentially fast within 48 hours once all necessary documents have been submitted.

Then, your money will be transferred to either your Maybank Islamic Current Account or Savings Account.

How much money can I borrow?

You can borrow any amount from RM5,000 to RM100,000 with Maybank Islamic personal financing, subject to a credit check after taking into account your repayment capability, assets and liabilities.

This money can be repaid over flexible tenures from 2 to 6 years.

But beware: If you have submitted your Maybank Islamic Personal Financing-i application, it is considered as an 'acceptance' of the offer made by Maybank Islamic.

So, when you apply for RM50,000 financing, and Maybank Islamic chooses to lend you RM25,000, you must accept that amount and cannot cancel the financing agreement.

What is my monthly instalment payment?

Once you have received the money, your personal loan repayment will begin at the start of the following month.

You must commit to servicing your monthly instalments as set out in the monthly repayment table.

You can make your personal loan repayments through online banking, cash or cheque, over the counter at Maybank/ Maybank Islamic branch, telephone banking, and Standing Instruction.

What's more, there is no early settlement fee if you want to fully settle your financing before the end of your borrowing tenure.

Is the Takaful policy to cover personal financing compulsory?

Maybank Islamic provides an insurance policy, known as the Personal Care Takaful Plan, to cover the outstanding personal financing amount in case something unfortunate happens to you during the period of borrowing; however, it is optional.

What documents do I need to prepare to apply for the Maybank Islamic Personal Financing-i?

As this is unsecured personal financing, you don't need to stand by a guarantor or collateral.

Together with the application form, please prepare the following supporting documents:

For salaried employees:

Copy of MyKad (front and back)
Latest EA form
Latest BE Form with official tax receipt
Latest 3 months' savings account activity/ current statements (Optional)

For self-employed:

Copy of MyKad (front and back)
Copy of Business Registration Certificate
Income verification
Latest B form with official tax receipt
Latest 6 months Bank Statements

Am I qualified to apply for Maybank Islamic Personal Financing-i if I'm blacklisted?

Depending on your credit history with other financial institutions, all this information (outstanding credit card, personal loan, home loan or car loan debts) will be captured in CCRIS / CTOS (a system that collects credit information on borrowers, not blacklisting them).

Assuming you have poor credit standing due to irregular payments, the best course of action would be to break the habit and start making your payments on time to avoid future hurdles.

Maybank Islamic is more likely to approve your personal loan application if you can show that you are managing your personal finances, rather than accumulating more debt.