{"id":18559,"date":"2021-06-23T20:00:00","date_gmt":"2021-06-23T12:00:00","guid":{"rendered":"https:\/\/www.comparehero.my\/blog\/uncategorized\/best-islamic-financing-malaysia.html"},"modified":"2026-03-26T16:00:38","modified_gmt":"2026-03-26T08:00:38","slug":"best-islamic-financing-malaysia","status":"publish","type":"post","link":"https:\/\/www.comparehero.my\/blog\/loans\/best-islamic-financing-malaysia.html","title":{"rendered":"The Best Islamic Personal Loans in Malaysia"},"content":{"rendered":"\n

 <\/p>\n

*Updated: Nov 7, 2019<\/strong><\/em><\/p>\n

Are you in need of financial assistance, but want it to be Shariah<\/em> compliant? Or are you looking for more financing options<\/a>? Why not consider Islamic personal loans? Lets see what exactly is an Islamic loan?<\/p>\n

An Islamic personal loan is one that follows the Islamic banking principles. An Islamic personal loan, also known as an Islamic personal financing, is issued by Islamic banks in Malaysia. The financing tool uses the concept of Bai’ Al-‘Inah, making it Shariah compliant. Being Shariah compliant means the loan does not have fixed or floating interest rates or fees (also known as RIBA, or usury) for the loan of money. This is prohibited according to the Islamic banking principles. We\u2019ve done the work for you and sorted out the best Islamic personal loans<\/a> in Malaysia below. <\/p>\n

1. Maybank Islamic Personal Financing-i<\/strong><\/a><\/h2>\n

This is a hassle-free Islamic personal loan from Maybank as you don\u2019t need a guarantor or collateral. There are no documents stamping, no processing fee, and no handling fees so you\u2019ll get to save more money! They also offer fast approval, although this is subject to certain terms and conditions. The minimum loan amount is RM5,000 up to a maximum amount of RM100,000. The tenure is 2 years up to a maximum tenure of 6 years.<\/p>\n

The Takaful<\/em> contribution amount will be deducted upfront from the approved loan amount, but it is an optional facility. You will also need to open a Maybank Islamic Personal Savings or Current account prior to submission of the loan application. The downside to this Islamic personal loan is that there is no rebate even if you make an early settlement before the end of your loan tenure.<\/p>\n

 The profit rate is fixed and the tier is as below<\/strong><\/p>\n

\"table3\"<\/p>\n

To give you an idea, below is the monthly instalment payment table according to the amount of loan taken and the tenure:<\/p>\n

<\/p>\n

<\/p>\n\n\n\n\n\n\n\n
Amount<\/th>\nProfit Rate<\/th>\n2 years<\/th>\n3 years<\/th>\n4 years<\/th>\n5 years<\/th>\n6 years<\/th>\n<\/tr>\n<\/thead>\n
RM10,000<\/td>\n8%<\/td>\n483,33<\/td>\n344,44<\/td>\n275,00<\/td>\n233,33<\/td>\n205,56<\/td>\n<\/tr>\n
RM25,000<\/td>\n7%<\/td>\n1.187,50<\/td>\n840,28<\/td>\n666,67<\/td>\n562,50<\/td>\n493,06<\/td>\n<\/tr>\n
RM60,000<\/td>\n6.5%<\/td>\n2.825,00<\/td>\n1.991,67<\/td>\n1.575,00<\/td>\n1.325,00<\/td>\n1.158,33<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/p>\n

For the complete monthly instalment payment table, click here.<\/a><\/p>\n

Requirements<\/strong><\/p>\n