Bank Muamalat

Bank Muamalat offers a full suite of Shariah-compliant banking services, meeting the diverse financial needs of individuals and institutions since October 1, 1999. Regulated by IFSA 2013, the bank's services are available across Malaysia through their branch network and convenient digital channels like i-Muamalat and e-Muamalat. The bank is a proud member of the DRB-HICOM Berhad Group, with Khazanah Nasional Berhad as a key shareholder. Read more Show less

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List of the best Personal Financing by Bank Muamalat Malaysia

About the loan

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Financing Features

  • - Profit rates: As low as 6.99% p.a.
  • - Financing tenures: 24 months - 84 months
  • - Financing amount: RM10,000 - RM250,000

Benefits

  • - Fast and seamless online application via Bank Muamalat’s Mobile Application Platform (MAP)
  • - Easy application without processing fees or collateral/ guarantor
  • - Competitive profit rates from as low as 6.99% p.a., with instalments starting from just RM211
  • - High financing amount of up to RM 250,000
  • - Flexible financing tenures up to 7 years
  • - Optional Takaful coverage (but highly recommended!)

Eligibility

  • - Malaysians only
  • - Minimum Age: 18 years old
  • - Maximum Age: 60 years old
  • - Minimum Income: RM2,000 monthly

Fees and Charges

  • - Early Settlement Fees: None
  • - Processing Fees: None
  • - Late Payment Fees: 1% p.a. on the overdue amount
  • - Stamp Duty: 0.5% of the whole amount, as per the Stamp Act 1949 (Revised 1989)

What Shariah principle does Bank Muamalat Cash-i SMART adhere to?

Cash-i SMART is an Islamic personal financing facility, based on the Tawarruq concept. This means it's structured to align with Islamic principles fully, ensuring your financial choices are always in sync with your values. You get the cash you need for various personal goals, providing a transparent and principled alternative to conventional loans.

What are the fees and charges that I should know about?

There are a few fees that you should take note of before you start your application. They are as follows:


  • - Processing fees: As mentioned, there are no processing fees for your application.
  • - Late payment charges (Ta'widh): A compensation charge of 1% per annum will apply to any overdue instalment amount, calculated daily. Refer to the Product Disclosure Sheet for more details
  • - Stamp Duty: As stipulated by the Stamp Duty Act 1949 (Revised 1989), it will apply to the financing documentation.

What makes the Cash-i SMART stand out?

Let’s find out the key benefits that make Cash-i SMART an excellent choice for navigating your financing needs:


  • - Fast and easy digital application: Apply effortlessly from anywhere using Bank Muamalat's Mobile Application Platform (MAP). Expect swift approvals, so you can move forward with your plans without delay.
  • - Absolutely no processing fees: Yes, what you see is what you get. Your application won't incur any hidden processing charges.
  • - No collateral or guarantor needed: Access the financing you require without the burden of pledging assets or finding someone to guarantee your loan.
  • - Flexible repayment plans: Tailor your repayment period to fit your budget, choosing from 2 years up to 7 years. This flexibility helps keep your monthly commitments comfortable and manageable!
  • - Transparent profit rates: Benefit from clear and attractive Shariah-compliant profit rates from as low as 6.99% p.a., ensuring you understand your financial commitments upfront.
  • - Optional Takaful protection: For an added layer of security, you have the option to include Takaful coverage. This provides valuable peace of mind, knowing your financing is protected against unforeseen circumstances.