Sun Gate Credit Personal Financing-i 

(Last updated: 1 September 2026)

What is Sun Gate Credit Personal Financing-i?

Sun Gate Credit Personal Financing-i is a Shariah-compliant, unsecured personal financing. The facility is offered by Sun Gate Credit Sdn. Bhd. (Registration No. 201701039415 (1253586M)), a licensed moneylender in Malaysia (KPKT licence WL6366/14/01-7/150528), and runs on the Commodity Murabahah (Tawarruq) structure.

What is the concept of Commodity Murabahah ("Tawarruq")?

This Shariah contract governs your financing. Sun Gate Credit purchases a Shariah-compliant commodity and sells it to you at a fixed price that includes both the principal and the profit. Sun Gate Credit then sells the commodity to a third party for cash and deposits that cash into your account.

Profit is built into your price from the beginning. The amount you owe does not increase later because the total was fixed before you started your repayments.

What can you use it for?

The financing is available for Shariah-compliant personal purposes, such as emergency expenses, medical costs, home repairs, or other personal needs. The one rule is that it can't go toward anything non-halal.

What is the profit rate and how is my instalment calculated?

Sun Gate Credit charges a flat rate of 18% per annum. This means profit is calculated on the full principal for the whole financing period, not on the decreasing balance as you make repayments.

Formula: I = (P + P×R×T)/M

Where:

P = Principal Financing Amount (RM 10,000.00)
R = Annual Flat Profit Rate (18% / 0.18)
T = Financing Tenure in YEARS (e.g., 2)
M = Total Repayment Period in Months (24)

For example, take RM10,000 in financing over 24 months, and you're looking at RM3,600 in profit. That's RM13,600 total, or RM566.67 a month. This calculation, however, doesn't include fees, so your actual monthly repayment will be a bit higher once stamp duty and other charges are added in.

Since profit is charged on the full principal throughout, the real annual cost ends up higher than 18%. Just note that the Effective Profit Rate (EPR) varies with your tenure, so a different financing tenure means a different EPR.

• 12 months: 31.72% p.a.
• 24 months: 31.46% p.a.
• 36 months: 30.59% p.a.

What are the applicable fees?

A couple of fees apply on top of your financing:

• Stamp Duty: In accordance with the Stamp Duty Act 1949 (Revised 1989)
• Late Payment Fee: 8% per annum on the overdue instalment amount

You are required to pay all costs (if any) to Sun Gate Credit for the preparation and registration of security documents that have been incurred if you decide to cancel the approved financing facility.

Can I settle the financing early?

Yes, but only after six months from your financing start date. Check these details directly with Sun Gate Credit before you plan to pay off your financing.

What happens if I miss a payment?

A late payment fee will be applied from the day your payment is overdue, at 8% per annum.

Is Takaful coverage required?

No. Takaful is optional for this financing.

Who can apply?

Any Malaysian citizens aged 21 to 55 years who earn a minimum monthly income of RM1,700 are eligible to apply.

What are the required documents?

Get these ready before you apply:

• Latest 3 months' salary slips
• Latest 3 months' bank statements
• Latest 12 months' EPF statements
• A recent utility bill (1 month)
• Your valid IC (both sides)

How do I contact Sun Gate Credit for details?

Gombak Branch
No. 36A, Jalan Jernai 3, Medan Idaman, Batu 5, Gombak, 53100 Kuala Lumpur
KPKT Licence No.: WL6366/14/01-7/150528
Office Tel: +603 4024 8688
WhatsApp: +6010 240 0028
Email: [email protected]

Sun Gate Credit Sdn Bhd (Registration No. 201701039415 (1253586-M))