Bank Islam Personal Loan

Bank Islam Personal Loan is a great option for Muslims who are looking to borrow money without compromising their religious beliefs. This loan offers competitive interest rates and flexible repayment options, so borrowers can tailor the loan to suit their own individual needs. It also features an Islamic financing product called Murabahah, which bases its charges on the cost of goods purchased and does not involve any element of interest or speculation.

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Q1: How much money can I borrow with Bank Islam Personal Loan?

The maximum loan amount available through Bank Islam Personal Loan is RM150,000.

What fees do I need to pay when I take out a Bank Islam Personal Loan?

A processing fee of up to 4% will apply to all loans taken out with Bank Islam. Other applicable fees include the late payment fee, referral fee, early settlement fee and legal costs.

How long do I have to repay a Bank Islam Personal Loan?

Repayment periods range from 1-5 years depending on the amount borrowed.

What documents do I need in order to apply for a Bank Islam Personal Loan?

You will need to provide your identity card (Mykad), proof of address (a utility bill not older than 3 months) and three months' salary slips as well as bank statements for the last 6 months for assessment purposes.

Is there any other special benefit that comes with a Bank Islam personal loan?

Yes, you can enjoy exclusive discounts when you purchase items using your Bank Islam personal loan at participating merchants up to RM200 each year.

Conclusion:
Bank Islam Personal Loan offers competitive interest rates and flexible repayment terms that make it an ideal choice if you're looking for an Islamic financing solution that adheres to your religious beliefs. With its convenient online application process and multiple benefits and discounts associated with it, this loan is definitely worth considering when it comes time to borrow money.