RM
year(s)
RM
- You Pay
- RM 89 /mth
- Profit Rate
- Total Profit Payable
- RM 70
- Total Payment
- RM 1,070
Kuwait Finance House Personal Financing-i
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- Profit Rate
- 3.99% p.a.
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- Max. Financing Amount
- RM 250,000
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- Approval Duration
- 1-2 weeks
Kuwait Finance House Loan Calculator
More details
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Features- Approval Duration
- 1-2 weeks
- Min. Financing Amount
- RM 5,000
- Max. Financing Amount
- RM 250,000
Other features
- Interest Rate
- 3.99% per annum
- Min. Financing Tenure
- 2 years
- Max. Financing Tenure
- 10 Years
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Eligibility & Required Documents- Employment Eligibility
- Permanent government employees, statutory bodies or selected GLCs (EXCEPT ARMY)
- Age Requirement
- 20 - 59 years old
- Min. Monthly Salary
- RM 2,000
Other eligibility requirements
- Contract Employee
- One-year minimum renewal period for Doctors, Pharmacists, Engineers, Lecturers, and Directors.
- KFH PF-i Application Form
- Required
- NRIC
- Front and back
- Salary Slip
- 3 months
- EPF statement
- Latest 3 months
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Fees and charges- Processing Fees
- Free
- Stamp Duty
- 0.5% of financing amount
Other fees and charges
- Early Settlement
- N/A
- Late Payment Charges
- 1% from current outstanding amount
Still unsure about which product best suits you?
Leave your details and our friendly agents will get back to you!
How do you apply for a personal financing online?
Step 1
Use our personal financing calculator to find the best personal financing based on your requirements and eligibility.
Step 2
Select the best product that fits your requirements from the list of recommended personal financing products listed and click on the Apply button.
Step 3
Fill in a form with your details to be submitted for application, and a representative from iMoney or the bank will call you to process the application.
Read more about Islamic Personal Financing
More details about the product
Kuwait Finance House Personal Financing-i is a fast-approval Shariah-compliant personal financing which follows the Shariah concept of “Murabahah Tawarruq”. With a flexible tenure of 2 – 8 years and a competitive profit rate, this financing package is for salaried employees only.
Best for: Personal use including child’s education fees or start a small business.
Pros:
- Decent financing amount (RM150,000)
- Longer tenure (between 2 – 8 years)
- No collateral or guarantor required
Kuwait Finance House Personal Financing-i FAQ
Shariah-compliant financing for salaried employees offered by Kuwait Finance House (KWH).
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You can apply for the KFH Personal Financing here.
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Murabahah is a contract of an asset at the cost price plus a defined and agreed profit mark-up (cost plus profit sale).
Tawarruq is used for obtaining a cash financing facility, where a customer buys an item on credit from the Islamic bank on a deferred payment basis, based on Murabahah and then resells it for cash to a third party. This way, customers can obtain financing without taking an interest-based loan.
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RM250,000.
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2 – 10 years.
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To be eligible, your business must:
- Citizenship: Malaysian
- Employment: Confirmed and permanent staff of multinational companies (MNC), public limited companies (PLC), government-linked companies (GLC) and their subsidiaries.
- Income: RM2,000 gross monthly income
- Age: Between 20 – 59 years old. If you apply for it at 55, this means your maximum tenure can only be 4 years or when you reach 59 years old.
- Takaful protection: Required
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The profit is calculated based on a flat rate basis of 3.99% p.a.
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As with any financing, you will have to make monthly repayment, which comprises of principal amount and a profit charge.
Use our personal loan calculator above to estimate your monthly repayment.
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- Salary deduction via Biro Angkasa, Accountant General or employer salary deduction
- Interbank GIRO (IBG)/Instant Interbank Funds Transfer (IBFT) via ATM or AutoDebit
- Over the counter at any MBSB bank branches
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Below are the details of Fees and Charges for this loan:
- Profit Rate/APR: As low as 3.99% p.a.
- Processing Fee: None
- Stamp Duty: 0.5% of the whole amount
- Early Termination Fee: None
- Late Penalty Fee: 1% from current outstanding amount
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Once you have completed your application with iMoney, you are required to provide the following documents for your application:
New Customers
- Copy of NRIC (front and back)
- 3 months (most current) salary slips
- 3 months (most current) bank statements
- Latest EPF statement with minimum 3-month contribution
Existing Customers
- 2 months (most current) salary slips
- Latest EPF statement with minimum 3-month contribution
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If you want to read the Product Disclosure Sheet for this loan, please use the link below:
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Unfortunately, no. KWH will check your credit history as part of their approval process. You are advised to settle all overdue payments before applying and keep a healthy credit record before you apply for any personal financing or loan. We also highly recommend that you continue repaying your loans on time for another three months before reapplying.
Check your iMoney CreditScore for free to find out how your credit health is.
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Alliance Islamic Bank CashVantage Personal Financing-i
This personal financing package is like Kuwait Finance House Personal Financing-I, with the same income requirement of RM3,000 and financing amount of up to RM150,000.
Al Rajhi Bank Personal Financing-i
If you have a slightly higher income and are looking for a lower profit rate, the Al Rajhi Bank Personal Financing-i comes with a rate as low as 4.99% p.a. This personal financing allows you to get approved up to 8x your monthly salary or RM150,000, whichever is lower.
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