Agrobank Hartani-i
Shariah-compliant financing for agricultural land, up to RM4.5 million over 20 years.
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Fees and Charges
Eligibility
- Salaried employee
- Government employee
- Private employees
- Stable income earners
- A copy of your IC (both sides)
- Latest 3 months salary slip
- Latest 3 months bank statement (with salary being credited)
- Letter of employment or employer confirmation
Loan Repayment Table
| Financing Amount | Financing Tenure | Min. Income | Profit Rate |
|---|---|---|---|
| RM 5,000 - RM 4,500,000 | 12 - 240 months | min. RM 18,000 | 5.35% p.a. |
Terms and Conditions
Product Review by CompareHero
Agrobank Hartani-i Review: Islamic Financing for Agricultural Land
Agrobank Hartani-i is an Islamic personal financing facility for purchasing agricultural land. It is available to government and private sector employees with a stable income, and covers land intended for farming activities.
Who Can Apply for Agrobank Hartani-i?
Agrobank Hartani-i is open to Malaysian government and private sector employees, including those on permanent and contract terms, as well as applicants with a stable income.
Government sector employees must be Malaysian, aged 21 to 60, with a monthly income of RM1,500 and above. Private sector employees and stable income earners face the same nationality and age requirements, but must have a monthly income of RM2,000 and above.
What Are the Terms for Land Purchase Under Agrobank Hartani-i?
Agrobank Hartani-i financing is limited to land intended for agricultural development, subject to several conditions:
- Purchase made directly from a vendor or through a public auction
- Land auctioned by Bank Pertanian Malaysia Berhad/Agrobank
- Land with an individual title
- Land that has been subdivided, or land for which an individual title is pending
How Much Can Be Borrowed?
Agrobank Hartani-i offers financing of up to RM4.5 million or 90% of the land value, with a maximum tenure of 20 years or until the applicant turns 60, whichever is earlier. The profit rate is flat and fixed for the full tenure, though the final rate depends on the bank's credit assessment.
What Are the Fees and Charges?
Agrobank Hartani-i comes with a processing fee, covering legal and disbursement costs such as solicitors' fees for financing documentation, registration of charge, land search, bankruptcy search, and other related charges. A brokerage fee of RM15 is charged per RM1,000,000 of financing, or an amount set by the commodity trading platform, and may be subject to service tax. The financing amount is also subject to stamp duty under the Stamp Act 1949 (Revised 1989), deducted from the total approved amount. Full details are available in the Product Disclosure Sheet.
Is Takaful Coverage Required?
Agrobank Hartani-i applicants are encouraged, though not required, to sign up for Mortgage Reducing Term Takaful (MRTT) or Group Credit Takaful (GCTT), which covers the outstanding financing amount in the event of death or permanent disability.
Can Early Settlement Be Made?
Early settlement of Agrobank Hartani-i carries no penalty, and Agrobank grants an Ibra' (rebate) on the unearned profit portion.
What Documents Are Required?
Applying for Agrobank Hartani-i requires three months of payslips and bank statements for fixed-income earners, or six months of business bank statements for those with stable but non-fixed income, along with a copy of the applicant's identity card, the land title, the sale and purchase agreement, and a copy of the landowner's identity card. Agrobank may request additional documents at its discretion.
Can Applicants With a Poor Credit History Apply?
Agrobank Hartani-i approval is based on the credit record held in CCRIS and CTOS, which tracks outstanding credit card, personal loan, home loan, and car loan debts, rather than a blacklist. Applicants with a history of irregular payments improve their chances of Agrobank Hartani-i approval by making consistent, on-time payments and showing active debt management rather than accumulating further debt.