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AgroBank Malaysia Berhad
Looking for the perfect personal loan solution? Look no further than AgroBank Cash-i personal loan. Tailored for Government Employees and GLC staff, this Shariah-compliant financing option offers a generous financing limit of up to RM200,000. Whether you’re consolidating debts or funding a home renovation project, AgroBank has you covered. Apply now and take control of your financial future!
AgroBank Personal Loan: Summary
- Bank Name: Agrobank
- Abbreviation / Code Name: –
- Category: #ConsumerLoan #personalloan #Bank #AgroBank
- Bank Koperasi Promotion Name: General info about personal financing with bank
AgroBank Cash-i Facility: Supporting Agriculture Ventures
AgroBank Cash-i facility caters to consumer financing needs, particularly in agriculture and agro-based activities. Utilizing Tawarruq transactions, AgroBank Cash-i Personal Loan ensures efficient implementation, providing customers with access to funds for various agricultural ventures and related expenses. This Shariah-compliant financing solution aligns with the principles of Islamic banking, offering customers a reliable and ethical means to support their agricultural endeavors and contribute to the growth of the agricultural sector.
AgroBank Personal Loan Eligibility Criteria
Age Requirement
Government Employees
- Age between 18 to 60 or up to retirement age, whichever is earlier.
GLC Staff
- Age between 21 to 60 or up to retirement age, whichever is earlier.
Eligibility
Government Employees
- Permanent and have served for at least 6 months (confirmed or under probation).
GLC Staff
- Permanent staff and have been confirmed with at least one year of service.
Minimum Salary Requirement
Government Employees
- RM1,000 gross salary per month.
GLC Staff
- RM2,000 gross salary per month.
Takaful Coverage
Customers are encouraged to take Skim Takaful Kredit for added protection and security.
AgroBank Cash-i Personal Loan: Catering to Diverse Financial Needs
AgroBank Cash-i personal loan is a Shariah-compliant financing facility that caters to consumer financing needs, particularly in agriculture and agro-based activities. Utilizing Tawarruq transactions, AgroBank Cash-i Personal Loan ensures efficient implementation, providing customers with access to funds for various agricultural ventures and related expenses. This Shariah-compliant financing solution aligns with the principles of Islamic banking, offering customers a reliable and ethical means to support their agricultural endeavors and contribute to the growth of the agricultural sector.
AgroBank Personal Loan Eligibility Criteria
Age Requirement
Government Employees
- Age between 18 to 60 or up to retirement age whichever is earlier
GLC Staff
- Age between 21 to 60 or up to retirement age whichever is earlier
Eligibility
Government Employees
- Permanent and have served for at least 6 months (confirmed or under probation)
GLC Staff
- Permanent staff and has been confirmed with at least one year of service
Min. Salary Requirement
Government Employees
- RM1,000 gross salary per month
GLC Staff
- RM2,000 gross salary per month
Takaful Coverage
- Customer is encouraged to take Skim Takaful Kredit
Financing Options and Payment Periods
AgroBank Cash-i personal loan offers various financing options and flexible payment periods tailored to meet the diverse financial needs of customers:
- Financing Quantum: Ranging from a minimum of RM10,000 to a maximum of RM200,000, providing customers with access to substantial funds.
- Payment Period: Extending up to 10 years (120 months) or until the borrower reaches retirement age, whichever comes earlier, offering flexibility in repayment.
Profit Rates and Additional Features
- Profit Rates: Subject to eligibility and current market conditions, with rates ranging from BR + 2.85% p.a to BR + 3.67% p.a for eligible applicants. Customers with unsatisfactory credit assessments may incur higher profit rates.
- Ceiling Profit Rate (CPR) and Effective Profit Rate (EPR): Capped at BR + 7.15% p.a or 10% p.a, ensuring transparency and adherence to Shariah principles.
By understanding the eligibility criteria, financing options, and profit rates associated with AgroBank Cash-i personal loan, customers can make informed decisions and access the financial support they need for their agricultural endeavors.
AgroBank: Fees and Charges
Stamp Duty
Stamp Duty is levied in accordance with the Stamp Act 1949 (Revised 1989). This statutory requirement ensures compliance with legal obligations and regulations pertaining to financial transactions.
Advanced Installment
AgroBank offers the option for advance payment of installments, providing customers with the opportunity to settle three (3) months’ worth of installments in advance. These advanced payments serve as a buffer against default, contributing to the smooth management of the financing arrangement.
- The amount equivalent to three (3) month installments is deducted from the financing amount.
- Advance installments are deducted before the financing is matured or settled, enhancing financial planning and management.
Brokerage Fee
A brokerage fee of RM 30 per transaction is applicable, subject to Service Tax at a rate of 6% if applicable. This fee covers administrative costs associated with facilitating transactions and ensuring efficient service delivery to customers.
Note: AgroBank is committed to transparency and customer satisfaction. Any changes to fees and charges will be communicated to customers at least 21 days before the effective date, ensuring clarity and informed decision-making.
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*Source: agrobank.com.my
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Contact Agrobank
- Telephone: 603-2731 1600 +6 03 2079 0600 (INTL)
Contact Centre: 1-300-88-2476 - Agrobank Malaysia My office
Leboh Pasar Besar, City Centre,
50050 Kuala Lumpur