Property Financing-i
HOW DOES IT BENEFIT YOU
HOW DOES IT BENEFIT YOU
Attractive Financing Package
Hassle- free application
Option between Mortgage Reducing Term Takaful (MRTT) or Mortgage Level Term Takaful (MLTT) to protect against unforeseen events
Terms and conditions apply.
HOW DOES IT WORK
HOW DOES IT WORK



MORE INFORMATION
Effective 2 Jan 2015, the Islamic Base Rate (IBR) will replace the Islamic Financing Rate (IFR) as the new reference rate for new retail floating rate financing facilities for individual customers.
The introduction of Islamic Base Rate aims to:
• Promote a transparent reference rate that allows meaningful comparison to be made for informed decision making by customers;
• Encourage more disciplined and efficient practices by the financial institution/bank in the pricing of retail financing facilities; and
• Better reflect changes in the cost of funds arising from monetary policy or market funding conditions
What is Islamic Base Rate?
Before 2 Jan 2015
Islamic Financing Rate (IFR)
Financing extended prior to 2 January 2015 will be continue to be referenced against the Islamic Financing Rate (IFR) until their respective maturities
From 2 Jan 2015
Islamic Base Rate (IBR)
Effective 2 January 2015, a new rate reference known as the Islamic Base Rate (IBR) will be used for new floating rate financing facilities for individual applicants.
How is the Indicative Effective Profit Rate (EPR) determined?
Islamic Base Rate - Benchmark Cost - of - Fund & Statutory Reserve Cost
+
Spread - Bank's operating cost & Profit margin
Standard House Financing's Indicative Effective Profit Rate |
|
---|---|
Terms |
Islamic Base Rate |
Financing Amount |
RM350,000.00 |
Financing Tenure |
30 years |
Lock-in Period |
NIL |
Reference Rate |
3.35% |
Indicative Effective Profit Rate |
IBR + 0.72% (2.63% + 0.72%) = 3.35% |
Monthly Installment |
RM1,543.00 |
What should you do as a customer?
1. Compare the indicative effective profit rates quoted by different financial institutions before taking out a new financing.
2. Ask for a Product Disclosure Sheet (PDS) providing you with the indicative effective profit rate and total payment amount for the financing facilities you plan to take out.
3. Ask your financial institution to explain the factors which may lead to a change in the Islamic Base Rate.
4. Your monthly payment amount will increase or decrease when there is a change in the Islamic Base Rate.
5. You should also assess whether you can continue to afford the financing payments if the indicative effective profit rate increases in future.
The following are the non-exhaustive list of fees and charges, or visit any of our branches for further information.
Description / Service |
Charges/ Fee* |
---|---|
Trading/Agency fee |
Waived |
Withdrawal of advance payment fee |
RM50.00 per request/withdrawal |
Early settlement charges |
Actual cost incurred by the Bank at the point of early settlement For HLISB, it shall reflect the costs incurred by the Bank as a direct result of early settlement. Such costs may include:
i) *cost that have not been recovered because a financing contract has a structure with discount elements at the initial period of financing; and/or ii) *initial costs that have not been recovered (e.g. zero moving cost products) |
Termination Fee for cancellation of financing prior to financing disbursement |
RM2,000.00 |
Redemption Statement fee |
RM50.00 per request Note: Applicable for residential financing under individuals only (for HLISB) |
Letter of confirmation for EPF withdrawal fee |
RM20.00 per request |
Security document retrieval (per request) – request for photocopy |
RM2 per page, min RM10 and max RM60.00 |
Compensation charges |
For default payment during facility tenure = 1% p.a. on the overdue instalment amount
|
Stamp Duties |
As per Stamp Duty Act 1949 (revised 1989). |
Legal Fees |
As per the scale in the Solicitors’ Remuneration Order (SRO) |
Disbursement Fees |
Disbursement Fees including but not limited to registration fee, search fee, government tax and any other taxes or levy as per the scale fees charged by the respective authorities and/or legal firms. |
Valuation Fees |
As per the Seventh Schedule (Rule 48) of the scale fees set by the Board of Valuers, Appraisers and Estate Agents Malaysia. |
Processing Fees |
One-time fee shall be charged for approved financing. Currently all processing fees are waived Processing Fee is not applicable for HLISB. |
Miscellaneous Fees |
Miscellaneous Fees including but not limited to online IBG payment, IBG via ATM machine, cheque processing fee and any other fees or charges that may be imposed by the respective relevant authorities from time to time with prior notice. |
Additional financing statement |
RM10.00 per request |
*Subject to Government Tax, if applicable
Acceptable Income Documents |
Individual Applicant (Employed) |
Individual Applicant (Self-Employed) |
Private Limited Companies |
---|---|---|---|
Latest 3 months salary slips |
Latest 6 months bank statements or savings passbook |
Latest 3 years audited account |
|
Latest Borang BE (supported by tax payment receipt) |
Latest Borang B (supported with tax payment receipt) |
Latest 6 months bank statements |
|
Latest EPF statement |
Latest 6 months commission statements |
Latest Borang B of the directors (supported with tax payment receipt) |
|
Latest 3 months bank statement / saving passbook |
N.A | N.A | |
Letter of employment |
N.A | N.A |
Note:
1. Other form of income substantiation may be acceptable on case to case basis e.g. Tenancy Agreement or Rental Income Receipts.
2. The above documents have to be independently verifiable