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Property Financing-i

  • Consumer Financing-i >
  • Property Financing-i

PROPERTY FINANCING-i

property financing-i
I'm Interested
Calculator
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Own a property with peace of mind via hassle-free financing process

HOW DOES IT BENEFIT YOU

HOW DOES IT BENEFIT YOU

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Attractive Financing Package
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Hassle- free application
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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

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1. Check your eligibility
Ensure you meet one of the eligibility criteria below, then calculate your monthly instalment. This applies to completed or under construction residential or commercial properties
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Individual
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Sole Proprietorship & Partnership
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Private Limited Companies
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2. Shariah Concept applicable
The Shariah principle used is Murabahah via Tawarruq arrangement. Tawarruq refers to purchasing an asset with deferred price, then selling it to a third party to obtain cash.
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3. Contracted profit rate
Under this product, you are protected against a higher rate by the ceiling rate i.e. the Contracted Profit Rate (CPR) where the Selling Price is capped at CPR.

MORE INFORMATION

  • Islamic Base Rate
  • Fees & Charges
  • Documents Required
  • Forms
  • Product Disclosure Sheet
  • Frequently Asked Questions

 

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
3.60%
Indicative Effective Profit Rate

IBR + 0.72%

(2.88% + 0.72%) = 3.60%

Monthly Installment
RM1,592.00

 

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.

 

 

Important Notice:

Please click HERE for the exhaustive list of fees and charges.

 

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

Application Form

Product Disclosure Sheet (Individual)

Product Disclosure Sheet (Business)

Product Disclosure Sheet – HLM Takaful MRTT

Product Disclosure Sheet – HLM Takaful MLTT

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