Personal Financing-i

About Personal Financing-i

This product is a personal financing facility for employees of the Federal Government, State Government and selected statutory bodies. The monthly payment will be through salary deduction via Biro Perkhidmatan ANGKASA (BPA).

The Shariah concepts used are Tawarruq, Murabahah, Wa`d and Wakalah.

Tawarruq means an arrangement involving two sales agreements. The first sale and purchase agreement involves the sale of commodities by the Bank to you on a deferred payment basis

Murabahah refers to the sale and purchase of commodities on a deferred basis, where the cost of the commodity purchase and the amount of the Bank's profit are communicated to you.

Wa`d is a unilateral commitment that refers to an expression of commitment given by one party to another party to perform certain actions in the future.

Wakalah is a contract where one party as the principal (agent) gives permission to the other party as the agent (representative) to perform a task that can be delegated

whether charged a fee or not. According to this product, the Bank will be your absolute representative to carry out the Tawarruq arrangement.

Murabahah Tawarruq transaction rules are as follows:

You ask the Bank to buy the commodity from the commodity market and promise to buy the commodity from the Bank (Wa`d). The Bank will buy the commodity at Price Purchases equal to the Facility Amount.
You appoint the Bank as an agent to purchase Shariah-compliant commodities such as Crude Palm Oil (CPO) and/or others from the Bank; and also to sell the commodity to any third party.
The Bank sells the agreed commodity to you at the Bank Selling Price which you will pay to the Bank in installments.
As a commodity buyer, you have the right to take delivery of the commodity at your own expense and cost.
The Bank sells your commodity on your behalf to any third party at a purchase price equal to the Facility Amount.
The proceeds from the sale of the commodity will be paid to you in accordance with the agreed terms and conditions.

The fixed rate is subject to the financing amount, as outlined in the table below for clearer illustration.

Financing Amount	Profit Rate
RM80,000 to RM 200,000	Promotional Rate until 31 Dec 2026 Fixed Rate 3.45% per annum (Effective Rate from 6.21% to 6.51% per annum) With Takaful coverage
RM10,000 to RM 200,000	Promotional Rate until 31 Dec 2026 Fixed Rate 3.80% per annum (Effective Rate from 6.78% to 7.15% per annum)
RM5,000 to RM200,000	Fixed Rate 4.25% per annum (Effective Rate from 7.51% to 7.96% per annum)

Click here to view the Payment Table