Property Financing-i

Shariah Concept

Tawarruq

Have you ever wondered how the Shariah aspects of MBSB Bank's Tawarruq products are developed? Now you can explore various topics of Islamic Finance from the SKIL Robo-Shariah-Advisor Module, equipped with advanced knowledge processing capabilities that enables you to learn and understand the true Shariah aspects of Tawarruq. Click here to know more.

Eligibility Criteria

• All individuals, joint applicants, Malaysian citizens, non-Malaysian citizens and non-individuals

Financing Amount

Below RM500,000

Margin of Financing

• Individual: Up to 90% (basic financing) of the Purchase Price or Open Market Value (OMV) whichever is lower
• Non Individual:60% (basic financing) of the Purchase Price or OMV whichever is lower.
  (Up to an additional 5% incidental financing on top of the MOF (basic financing amount) is allowable, if inclusive of other incidentals such as MRTT contribution, legal fees, will writing fee etc.)

Tenure

• Individual: Up to thirty-five (35) years or the Customer’s age of seventy-five (75) years whichever is earlier.
• Non Individual:Up to twenty (20) years or major shareholder/ director/key person’s age of seventy (70) years whichever is earlier.

Profit Rate

• Profit is calculated based on Variable Rate
• Protection with a Ceiling Profit Rate capped at 11% p.a.

Features / Benefits

• Purpose of Financing
  • Financing the purchase of residential property
  • Refinancing of an existing mortgage financing from other financial institutions (e.g. redemption sum/balance outstanding plus top up facility)
  • Re-mortgage of a property free from encumbrances
  • Additional financing or top up facility for existing Islamic property financing - Customers seeking extra facility for working capital, education, renovation, etc.
• Property Type
  • Residential Property – Completed & Under-construction (landed/non-landed);
  • Vacant Land (bungalow and agricultural) accompanied by proposed/approved building plan to build a detached house/bungalow
• Waiver on processing fees
• No early settlement charges
• Granting of rebate for early settlement
• No compounding of profit and other charges
• Financing of Mortgage Reducing Term Takaful (MRTT) and legal fees
• Flexible Takaful coverage; MRTT and/or assignment of Family Takaful

Shariah Concept

Tawarruq

Have you ever wondered how the Shariah aspects of MBSB Bank's Tawarruq products are developed? Now you can explore various topics of Islamic Finance from the SKIL Robo-Shariah-Advisor Module, equipped with advanced knowledge processing capabilities that enables you to learn and understand the true Shariah aspects of Tawarruq. Click here to know more.

Eligibility Criteria

• All individuals, joint applicants, Malaysian citizens, non-Malaysian citizens and non-individuals

Financing Amount

RM500,000 and above

Margin of Financing

• Individual: Up to 90% (basic financing) of the Purchase Price or Open Market Value (OMV) whichever is lower
• Non Individual:60% (basic financing) of the Purchase Price or OMV whichever is lower.
  (Up to an additional 5% incidental financing on top of the MOF (basic financing amount) is allowable, if inclusive of other incidentals such as MRTT contribution, legal fees, will writing fee etc.)

Tenure

• Individual: Up to thirty-five (35) years or the Customer’s age of seventy-five (75) years whichever is earlier.
• Non Individual:Up to twenty (20) years or major shareholder/ director/key person’s age of seventy (70) years whichever is earlier.

Profit Rate

• Profit is calculated based on Variable Rate
• Protection with a Ceiling Profit Rate capped at 11% p.a.

Features / Benefits

• Purpose of Financing
  • Financing the purchase of residential property
  • Refinancing of an existing mortgage financing from other financial institutions (e.g. redemption sum/balance outstanding plus top up facility)
  • Re-mortgage of a property free from encumbrances
  • Additional financing or top up facility for existing Islamic property financing - Customers seeking extra facility for working capital, education, renovation, etc.
• Property Type
  • Residential Property – Completed & Under-construction (landed/non-landed);
  • Vacant Land (bungalow and agricultural) accompanied by proposed/approved building plan to build a detached house/bungalow
• Waiver on processing fees
• No early settlement charges
• Granting of rebate for early settlement
• No compounding of profit and other charges
• Financing of Mortgage Reducing Term Takaful (MRTT) and legal fees
• Flexible Takaful coverage; MRTT and/or assignment of Family Takaful

Package Name

Property Refinancing-i and Remortgage-i

Shariah Concept

Tawarruq

Have you ever wondered how the Shariah aspects of MBSB Bank's Tawarruq products are developed? Now you can explore various topics of Islamic Finance from the SKIL Robo-Shariah-Advisor Module, equipped with advanced knowledge processing capabilities that enables you to learn and understand the true Shariah aspects of Tawarruq. Click here to know more.

Eligibility Criteria

All individuals, joint applicants, Malaysian citizens, and non-individuals

Margin of Financing

Up to 90% (basic financing) of the property's Open Market Value (OMV), plus additional up to 5% for incidental costs.

Tenure of Financing

Refinancing (redemption)

Individual : Up to 35 years or until the customer reaches the age of 75, whichever is earlier.
Non Individual : Up to 20 years or major shareholder/ director/ key person’s age of 70 years, whichever is earlier

Refinancing with Cash Out or Remortgage

Up to 10 years or until the customer reaches the age of 60, whichever is earlier.

Profit Rate

Profit is calculated based on Variable Rate

Features / Benefits

• For refinancing of existing mortgage financing from other financial institutions (with and without cash out).
• For remortgaging of properties that are free from encumbrances.
• Granting of rebate for early settlement.
• No compounding of profit and other charges.
• Financing available for Mortgage Reducing Term Takaful (MRTT), valuation and legal fees.

Terms and conditions apply.

Shariah Concept

Tawarruq

Have you ever wondered how the Shariah aspects of MBSB Bank's Tawarruq products are developed? Now you can explore various topics of Islamic Finance from the SKIL Robo-Shariah-Advisor Module, equipped with advanced knowledge processing capabilities that enables you to learn and understand the true Shariah aspects of Tawarruq. Click here to know more.

Eligibility Criteria

• Malaysian citizen aged 40 and below
• First time home buyer
• Employed:-
  • Applicant(s) must be a confirmed employee with the same employer for at least 6 months from the date of employment; and
  • Graduate (degree holder) or at least 2 years total working experience (non-degree holder)
• Owner occupied

Property Price / Value

Residential Properties with minimum property price/value of RM100K and up to a maximum of RM500K

Margin of Financing

• Up to 100% of the Sale & Purchase Agreement (SPA) price or OMV whichever is lower and eligible for first (1st) time home buyer and first (1st) party charge only.
• Up to an additional 10% incidental financing on top of the MOF (basic financing amount); includes credit takaful contributions, legal fees, stamp duty, and valuation fees.

Tenure

• Up to thirty-five (35) years or the Customer’s age of seventy-five (75) years whichever is earlier.

Profit Rate

• Profit is calculated based on Variable Rate
• Protection with a Ceiling Profit Rate capped at 11% p.a.

Features / Benefits

• Purpose of Financing
  • Financing the purchase of residential property
• Property Type
  • Residential Property – Completed & Under-construction (landed/non-landed)
  • Waiver on processing fees
• No early settlement charges
• Granting of rebate for early settlement
• No compounding of profit and other charges
• Financing of Mortgage Reducing Term Takaful (MRTT) and legal fees
• Flexible Takaful coverage; MRTT and/or assignment of Family Takaful

Flyers

Package Name

My First Home Scheme-i – Syarikat Jaminan Kredit Perumahan (MFHS-SJKP)

Shariah Concept

Tawarruq

Have you ever wondered how the Shariah aspects of MBSB Bank's Tawarruq products are developed? Now you can explore various topics of Islamic Finance from the SKIL Robo-Shariah-Advisor Module, equipped with advanced knowledge processing capabilities that enables you to learn and understand the true Shariah aspects of Tawarruq. Click here to know more.

Eligibility Criteria

• Malaysian citizens, entry age with the minimum of 18 years old and maximum 65 years old (for residential properties).
• Customer who is above 55 years old must apply with joint applicant(s) and will be entitled for financing tenure up to the age of 70 years. Subject to the credit assessment.
• Gross monthly income
  • Single customer - minimum RM2,000 per month
  • With joint applicants (must be spousal, or blood relationship limited to parents, children and siblings only) - minimum RM4,000 per month
• First-time home buyer for own occupancy and you must not have any existing housing facility with other Financial Institutions.
• Employment sector for fixed or non-fixed income earners – employed or self-employed.
• A Declaration Form on the customer’s occupation and income duly confirmed by Jawatankuasa Kemajuan dan Keselamatan Kampung (JKKK) or Category A government servants or Penghulu/ Ketua Kampung or relevant branch manager/ sales manager of MBSB Bank.

Margin of Financing

• Property up to 100% of the Sale & Purchase Agreement (SPA) price or OMV whichever is lower; and
• Other costs limited to MRTT, LTHOT (if any), valuation fee and solicitor’s fees, subject to the total of financing amount not exceeding guarantee coverage up to RM500,000.

Tenure

Up to 35 years or the Customer’s age of 70 years at the end of financing tenure, whichever is earlier.

Profit Rate

• Profit is calculated based on Variable Rate
• Protection with a Ceiling Profit Rate capped at 11% p.a.

Features / Benefits

• Granting of rebate for early settlement.
• No compounding of profit and other charges.
• MRTT and legal/ solicitor’s fee can be included in the financing limit.
• Mandatory for the customer to execute Declaration Form.
• No lock-in period.
• No Security Deposit.

Terms and conditions apply

Package Name

My First Home Scheme-i – SJKP MADANI

Shariah Concept

Tawarruq

Have you ever wondered how the Shariah aspects of MBSB Bank's Tawarruq products are developed? Now you can explore various topics of Islamic Finance from the SKIL Robo-Shariah-Advisor Module, equipped with advanced knowledge processing capabilities that enables you to learn and understand the true Shariah aspects of Tawarruq. Click here to know more.

Eligibility Criteria

• Malaysian citizens, entry age with the minimum of 18 years old and maximum 65 years old (for residential properties).
• Customer who is above 55 years old must apply with joint applicant(s) and will be entitled for financing tenure up to the age of 70 years. Subject to the credit assessment.
• Gross monthly income
  • Single customer - minimum RM2,000 per month
  • With joint applicants (must be spousal, or blood relationship limited to parents, children and siblings only) - minimum RM4,000 per month
• First-time home buyer for own occupancy and you must not have any existing housing facility with other Financial Institutions.
• Employment sector
  • Employed - fixed or non-fixed income earners.
  • Self-employed - sole proprietor or partnership, freelance or gig workers and companies.
• A Declaration Form on the customer’s occupation and income duly confirmed by Jawatankuasa Kemajuan dan Keselamatan Kampung (JKKK) or Category A government servants or Penghulu/Ketua Kampung or relevant branch manager/sales manager of MBSB Bank

Margin of Financing

• Property up to 100% of the SPA/OMV, whichever is lower; and
• Other costs limited to MRTT, LTHOT (if any), valuation fee and solicitor’s fees, renovation costs, purchase of home furnishing and fitting costs up to 20% of SPA/ OMV, whichever is lower.

Note: Total financing amount shall not exceed 120% of SPA/ OMV or maximum guarantee coverage of RM360,000, whichever is lower.

Tenure

Up to 35 years or the customer age of 70 years at the end of financing tenure, whichever is earlier.

Profit Rate

• Profit is calculated based on Variable Rate
• Protection with a Ceiling Profit Rate capped at 11% p.a.

Features / Benefits

• Granting of rebate for early settlement.
• No compounding of profit and other charges.
• Renovation cost, purchase of home furnishing and fitting costs are includes in the financing limit (optional for the customer).

Terms and conditions apply.

Flyers

Package Name

Commercial Property Financing-i

Shariah Concept

Tawarruq

Have you ever wondered how the Shariah aspects of MBSB Bank's Tawarruq products are developed? Now you can explore various topics of Islamic Finance from the SKIL Robo-Shariah-Advisor Module, equipped with advanced knowledge processing capabilities that enables you to learn and understand the true Shariah aspects of Tawarruq. Click here to know more.

Eligibility Criteria

• All individuals, joint applicants, Malaysian citizens, non-Malaysian citizens and non-individuals

Financing Amount

Up to RM10 million

Margin of Financing

• Up to 80% (basic financing) of the purchase price or OMV whichever is lower for both individual and non-individual Customer.
• Up to an additional 5% incidental financing on top of the MOF (basic financing amount) is allowable, if inclusive of other incidentals such as MRTT contribution, legal fees, will writing fee etc.

Tenure

• Individual: Up to thirty (30) years or the Customer’s age of seventy (70) years whichever is earlier.
• Non Individual:Up to twenty (20) years or major shareholder/ director/key person’s age of seventy (70) years whichever is earlier.

Profit Rate

• Profit is calculated based on Variable Rate
• Protection with a Ceiling Profit Rate capped at 11% p.a.

Features / Benefits

• Purpose of Financing
  • Financing the purchase of commercial property
  • Refinancing of an existing mortgage financing from other financial institutions (e.g. redemption sum/balance outstanding plus top up facility)
  • Re-mortgage of a property free from encumbrances
  • Additional financing or top up facility for existing Islamic property financing - Customers seeking extra facility for working capital, education, renovation, etc.
• Property Type
  • Commercial Property – Completed & Under-construction (landed/non-landed);
  • Vacant Land (bungalow, agricultural and Industrial land)
• No early settlement charges
• Granting of rebate for early settlement
• No compounding of profit and other charges
• Financing of Mortgage Reducing Term Takaful (MRTT) and legal fees
• Flexible Takaful coverage; MRTT and/or assignment of Family Takaful