Maybank Islamic Personal Financing-i
Shariah-compliant financing up to RM100,000, with profit rates from 6.5% p.a.
Calculate your monthly repayment
Fees and Charges
Eligibility
- Salaried employee & self-employed
- A copy of your IC (both sides)
- Latest 3 months' savings account activity/ current statements
- Latest BE Form with official tax receipt
- Latest EA form
- A copy of your IC (both sides)
- Copy Business Registration Certificate (SSM)
- Income verification
- Latest B Form with official tax receipt
- Latest 6 months bank statement
Loan Repayment Table
| Financing Amount | Financing Tenure | Min. Income | Profit Rate |
|---|---|---|---|
| RM 5,000 - RM 20,000 | 24 - 72 months | min. RM 42,000 | 8.00% p.a. |
| RM 20,001 - RM 50,000 | 24 - 72 months | min. RM 42,000 | 7.00% p.a. |
| RM 50,001 - RM 100,000 | 24 - 72 months | min. RM 42,000 | 6.50% p.a. |
Features
No collateral or guarantor required
Shariah compliant
Approval duration up to 2 working days
Profit rates as low as 6.5% p.a. to 8% p.a.
Can borrow up to 4x of your monthly gross income
No document stamping fees, processing fees and early settlement fees
Minimum loan amount: RM5,000
Maximum loan amount: RM100,000
Minimum duration of the loan: 24 months
Maximum duration of the loan: 72 months
Terms and Conditions
Product Review by CompareHero
What Is Maybank Islamic Personal Financing-i?
This is a Shariah-compliant personal financing option offered by Maybank Islamic.
Maybank Islamic Personal Financing-i is based on the Commodity Murabahah contract, an Islamic structure used instead of a regular interest-based loan. Applicants can borrow between RM5,000 and RM100,000 for personal or investment needs, without needing to pledge collateral or bring in a guarantor.
How Much Can Be Borrowed
The rate depends on how much is financed.
The profit rate gets lower as the financing amount goes up:
- RM5,000 to RM20,000: 8% per annum
- RM20,001 to RM50,000: 7% per annum
- RM50,001 to RM100,000: 6.5% per annum
Every tier needs a minimum annual income of RM42,000, and repayment can be spread across 2 to 6 years.
Submitting an application counts as accepting whatever offer Maybank Islamic makes. If someone applies for RM50,000 and gets approved for RM25,000 instead, they're expected to accept that lower amount rather than cancel the application.
What Fees Apply
A few charges sit outside the profit rate. Maybank Islamic doesn't charge a processing fee, stamp duty, or early termination fee. The only extra cost is a late payment charge: 1% on the outstanding balance, calculated from the overdue date until the payment is made.
How the Money Is Paid Out
Approval and payout follow a set timeline once documents are submitted. Once all documents are submitted, approval can happen within 48 hours. Funds are paid into a Maybank Islamic Current or Savings Account. Repayments start the month after disbursement. Payment can be made through online banking, cash, cheque, over the counter at a branch, phone banking, or Standing Instruction.
Is Takaful Coverage Included
Protection against unexpected events is available, but it's not required. Maybank Islamic offers a Personal Care Takaful Plan alongside this financing. It covers the outstanding balance if something happens to the borrower during the loan period, and signing up for it is optional.
Who Can Apply
Eligibility comes down to citizenship, age, work status, and income.
- Malaysian citizen
- Aged 21 to 60
- Salaried or self-employed
- Minimum annual income of RM42,000
What Documents Are Needed
The documents needed depend on whether the applicant is salaried or self-employed. Salaried applicants need a copy of their MyKad, latest EA Form, latest BE Form with tax receipt, and optionally their latest 3 months' bank statement. Self-employed applicants need a copy of their MyKad, Business Registration Certificate, proof of income, latest B Form with tax receipt, and their latest 6 months' bank statements.
Does a Poor Credit History Affect Approval
Past credit history is one of the things Maybank Islamic looks at.
CCRIS records a borrower's credit facilities, such as credit cards, personal loans, home loans, and car loans, along with how well they've been repaid. CTOS puts together similar information, often using CCRIS data along with other public records, to work out a credit score. Neither one blacklists anyone; they just keep a record of repayment history.
Applicants with a history of late or missed payments should focus on paying on time going forward. Maybank Islamic is more likely to approve someone who shows they're managing their money responsibly, rather than taking on more debt.