JCL i-Fund Personal Financing
Tawarruq-based Islamic financing up to RM50,000, with fast approval in 3 working days.
Calculate your monthly repayment
Fees and Charges
Comparing and applying through CompareHero is free. Any fees, charges, interest rates, and final loan terms are set by the licensed lender.
Eligibility
- Salaried employee
- Self-employed
- Commission earner
- A copy of your IC (both sides)
- Latest 3 months salary slip
- Latest 3 months bank statement (with salary being credited)
- Original utility bill receipts such as electricity, water bills, etc.
- A copy of your IC (both sides)
- Business Registration Certificate (SSM) / Forms 9, 24 and 49 / M&A
- Latest B/BE Form with official tax receipt
- Latest 6 months bank statement
- Original utility bill receipts such as electricity, water bills, etc.
Loan Repayment Table
| Financing Amount | Financing Tenure | Min. Income | Profit Rate |
|---|---|---|---|
| RM 500 - RM 50,000 | 6 - 60 months | min. RM 12,000 | 18.00% p.a. |
Terms and Conditions
Product Review by CompareHero
(Last updated: 26 August 2026)
What is JCL i-Fund Personal Financing?
JCL i-Fund Personal Financing works differently from a typical bank loan because it doesn't require collateral or a guarantor.
It is an unsecured Islamic financing product offered by JCL Credit Leasing Sdn. Bhd. (Registration No. 413411-H), a KPKT-licensed moneylender (WL3960/14/01-11/210926). Applicants don't need to pledge any assets or bring in a third party to co-sign the application.
How much can be borrowed, and what is the profit rate?
Financing ranges from RM500 to RM50,000, over a tenure of 6 months to 60 months (5 years). The profit rate is calculated on a flat rate of 18% per annum.
This means profit is calculated on the full principal for the entire tenure, not on the decreasing balance as you make repayments.
Formula: I = (P + P×R×T)/M
Where:
P = Principal Financing Amount (RM20,000.00)
R = Annual Flat Profit Rate (18% / 0.18)
T = Financing Tenure in YEARS (e.g., 5)
M = Total Repayment Period in Months (60)
For example, RM20,000 over 60 months yields a total profit of RM18,000, bringing the total repayment to RM38,000, or RM633.33 per month. This excludes stamp duty and other charges, which may affect your actual monthly repayment.
Since profit is calculated on the full principal amount throughout the entire tenure, the Effective Profit Rate (EPR) is higher than the stated 18% flat rate. The EPR varies depending on your chosen tenure:
- 6 months: 34.79% p.a.
- 12 months: 36.76% p.a.
- 24 months: 36.42% p.a.
- 36 months: 35.27% p.a.
- 48 months: 34.10% p.a.
- 60 months: 33.02% p.a.
How long does approval take?
Approval speed is a key part of how this product works, though it still depends on the applicant's profile.
Once approved, the financing amount can be disbursed within 3 working days, subject to the applicant's eligibility and JCL Credit Leasing's underwriting requirements.
What fees or charges apply?
You'll need to pay Stamp Duty, as per the Stamp Duty Act 1949 (Revised 1989), which will be deducted from the total financing amount.
If the financing is cancelled, the applicant is responsible for any associated costs incurred.
What happens if a monthly payment is missed?
A late penalty fee of 8% p.a. may apply to the overdue instalment. JCL Credit Leasing also reserves the right to offset any credit balance in the applicant's account against outstanding amounts owed.
Is Takaful required?
Takaful coverage is available for applicants who want extra protection, but it isn't compulsory.
It's optional. Applicants can choose to add JCL i-Fund Takaful Protection, underwritten by FWD Takaful Berhad, which covers the outstanding financing balance in the event of death or total permanent disability. A Takaful fee applies only if this coverage is selected.
Who is eligible to apply for JCL i-Fund Personal Financing?
Eligibility is based on citizenship, age, employment status, and income.
- Malaysian citizen
- Aged 18 to 60
- Salaried employee, commission earner, or self-employed
- Minimum gross monthly income of RM1,000
What documents are needed to apply?
The documents required depend on whether the applicant is salaried or self-employed.
Salaried employee:
- Copy of IC (both sides)
- Latest 3 months' payslips
- Latest 3 months' bank statement
- Latest utility bill (electricity/water)
Self-employed:
- Copy of IC (both sides)
- Latest SSM registration
- Latest 6 months' company bank statement
- Latest 3 months' personal bank statement
- Latest utility bill (electricity/water)