Bank Islam: Tailored Solutions for Your Financial Needs

Explore Bank Islam’s personal loan options designed to empower you on your financial journey. With flexible terms and competitive rates, our personal loans offer the support you need to achieve your goals and dreams. Whether it’s for education, home improvements, or unexpected expenses, Bank Islam is here to help you make it happen. Find out how you can secure your future with confidence today.

Bank Islam Malaysia Berhad (BIMB) pioneers Islamic banking in Malaysia, boasting the widest network of dedicated Islamic banking channels. Explore BIMB’s personal loan offerings and experience financial solutions tailored to your needs

Pinjaman Peribadi Bank Islam

Bank Islam: Personal Loan Summary

  • Bank Name: Bank Islam Personal Loan
  • Abbreviation / Code Name: BIMB
  • Category: #ConsumerLoan
  • Bank Promotion Name: General info about Bank Islam personal financing

Bank Islam: Pioneering Islamic Banking in Malaysia

Bank Islam: A Trailblazer in Malaysia’s Financial Landscape

Established on July 1, 1983, Bank Islam stands as Malaysia’s premier Islamic bank, pioneering Shariah-compliant financial solutions in the region. With an expansive network of over 144 branches nationwide, Bank Islam has been at the forefront of providing banking services grounded in Islamic principles.

A Legacy of Over Three Decades

Bank Islam: Spearheading Islamic Finance Since 1983

For more than 35 years, Bank Islam has been dedicated to offering innovative financial products and services. As the first Islamic bank in Malaysia, its establishment marked a significant milestone in the development of Islamic banking not only within Malaysia but also across the ASEAN region.

Empowering Professionals with Personal Financing

Bank Islam Personal Financing: Empowering Malaysia’s Professionals

Bank Islam offers a unique financing program tailored to professionals across various sectors. Designed to meet the diverse financial needs of individuals, this program provides accessible financing solutions for professionals such as medical doctors, dentists, accountants, engineers, lecturers, architects, safety officers, pharmacists, veterinarians, optometrists or opticians, quantity surveyors, and actuaries.

Eligibility and Requirements

Bank Islam Personal Financing: Unlocking Financial Opportunities

To qualify for Bank Islam’s Personal Financing for Professionals Program, applicants must meet specific eligibility criteria:

  1. Age Requirement: Applicants must be above 25 years old and not exceed the retirement age at the end of the payment period.
  2. Citizenship: Malaysian citizenship is a prerequisite for eligibility.
  3. Professional Status: Applicants must be employed as professionals in designated fields, including medical, accounting, engineering, education, architecture, occupational health and safety, pharmaceuticals, veterinary medicine, optometry, quantity surveying, and actuarial science.
  4. Stable Income: As fixed-income earners, applicants should have a minimum gross income of RM3,500.

Conclusion

Bank Islam: Redefining Banking Excellence Through Islamic Principles

With an unwavering commitment to Shariah-compliant banking, Bank Islam continues to lead the financial industry in Malaysia. By providing innovative solutions and fostering financial inclusivity, Bank Islam empowers individuals and professionals alike to achieve their financial goals while upholding the principles of justice and social responsibility. As Malaysia’s pioneering Islamic bank, Bank Islam remains steadfast in its mission to drive economic growth and prosperity in alignment with Islamic values.

Bank Islam Personal Financing Options: Empowering Your Financial Journey

Understanding Bank Islam’s Personal Financing-i Non-Package

Empowering Individuals with Flexible Financing Solutions: Bank Islam’s Personal Financing-i Non-Package provides individuals with a versatile financing solution designed to meet their diverse financial needs.

Eligibility Criteria for Personal Financing-i Non-Package

Navigating the Requirements for Accessible Funding: To qualify for this financing solution, applicants must meet specific eligibility criteria outlined by Bank Islam:

  1. Age Requirement: Applicants must be at least 18 years old and not exceed the retirement age at the end of the payment period.
  2. Citizenship: Malaysian citizenship is a prerequisite for eligibility.
  3. Minimum Income: Applicants must have a minimum fixed income of RM3,500 per month.
  4. Employment Status: Applicants must be employed and maintain continuous employment in any of the following sectors, as categorized by Bank Islam:
    • Public Listed Companies

Exploring Bank Islam’s Personal Financing-i Package

Customized Financing Solutions for Specific Sectors: Bank Islam’s Personal Financing-i Package caters to individuals employed in specific sectors, offering tailored financing solutions with competitive terms.

Eligibility Criteria for Personal Financing-i Package

Navigating the Requirements for Sector-Specific Financing: To qualify for this financing option, applicants must fulfill the following eligibility criteria established by Bank Islam:

  1. Age Requirement: Applicants must be at least 18 years old and not exceed the retirement age at the end of the payment period.
  2. Citizenship: Malaysian citizenship is mandatory.
  3. Minimum Income: Applicants must have a minimum fixed income of RM2,000 per month.
  4. Employment Status: Applicants must maintain continuous employment in any of the following sectors, as specified by Bank Islam:
    • Government Sector
    • Selected Public Listed Companies
    • Subsidiaries of Government or Selected Public Listed Company
    • Other Prominent Private Limited Companies as categorized under package companies listed by Bank Islam

Conclusion

With its Personal Financing-i Non-Package and Personal Financing-i Package, Bank Islam ensures accessibility and adherence to Shariah principles in all its offerings. Whether you seek flexible financing solutions or specialized packages tailored to specific sectors, Bank Islam stands ready to empower your financial journey. As a trusted Islamic financial institution, Bank Islam remains committed to fostering financial inclusion and prosperity within the Malaysian community.

Bank Islam Personal Loan Interest Rate / Profit Rate

Personal Financing Loan Bank Islam Malaysia Berhad BIMB

Bank Islam Personal Financing for Professional Program

Introduction

Bank Islam offers the Personal Financing for Professional Program, providing individuals with financial assistance tailored to their needs.

Financing Details

Base Rate (BR) + 1.90%/p.a

  • Financing Quantum: The financing amount is determined based on eligibility criteria, ranging from a minimum of RM10,000 to a maximum of RM300,000.
  • Payment Period: Borrowers can opt for a repayment period of up to 10 years (120 months) or until reaching the retirement age, whichever comes first.

Financing Rates

Offer with Takaful Coverage

  • Floating Rate:
    • 1-3 years: Base Rate (BR) + 1.90% p.a. (Profit is calculated on a daily basis using “Monthly Rest”).
    • 4-10 years: Base Rate (BR) + 2.11% p.a. (Profit is calculated on a daily basis using “Monthly Rest”).
    • Note: The revised Base Rate (BR) effective from 10 July 2020 is 2.52% p.a.

Offer Without Takaful Coverage

  • Floating Rate:
    • 1-3 years: Base Rate (BR) + 3.38% p.a. (Profit is calculated on a daily basis using “Monthly Rest”).
    • 4-10 years: Base Rate (BR) + 5.28% p.a. (Profit is calculated on a daily basis using “Monthly Rest”).
    • Note: The revised Base Rate (BR) effective from 10 July 2020 is 2.52% p.a.

Bank Islam Personal Financing-i Non-Package

Financing Details

4.5% /p.a. (Flat)

  • Financing Quantum: Eligible individuals can obtain financing ranging from RM10,000 to RM150,000.
  • Payment Period: Borrowers have the flexibility to repay the loan within a maximum period of 120 months (10 years) or until retirement.

Financing Rates

Offer with Takaful Coverage

  • Flat Rate:
    • 1 – 3 years: 4.5% p.a. (Flat). (Profit is calculated on a monthly basis using “Sum of Digit”).
    • 4 – 8 years: 4.9% p.a. (Flat). (Profit is calculated on a monthly basis using “Sum of Digit”).
    • 9 – 10 years: 5.50% p.a. (Flat). (Profit is calculated on a monthly basis using “Sum of Digit”).

Offer Without Takaful Coverage

  • Flat Rate:
    • 1 – 3 years: 5.5% p.a. (Flat). (Profit is calculated on a monthly basis using “Sum of Digit”).
    • 4 – 8 years: 5.9% p.a. (Flat). (Profit is calculated on a monthly basis using “Sum of Digit”).
    • 9 – 10 years: 6.5% p.a. (Flat). (Profit is calculated on a monthly basis using “Sum of Digit”).

Bank Islam Personal Financing-i Package

Financing Details

Base Rate (BR) + 3.38% /p.a

  • Financing Quantum: Individuals can obtain financing within the range of RM10,000 to RM300,000 based on eligibility.
  • Payment Period: The repayment period extends up to 10 years (120 months) or until reaching the retirement age, whichever is earlier.

Financing Rates

Offer with Takaful Coverage

  • Floating Rate (Base Rate [BR]):
    • 1-3 years: Base Rate (BR) + 1.90% p.a. (Profit is calculated on a daily basis using “Monthly Rest”).
    • 4-10 years: Base Rate (BR) + 2.00% p.a. (Profit is calculated on a daily basis using “Monthly Rest”).
    • Note: The revised Base Rate (BR) effective from 10 July 2020 is 2.52% p.a.

Offer Without Takaful Coverage

  • Floating Rate (Base Rate [BR]):
    • 1-3 years: Base Rate (BR) + 3.38% p.a. (Profit is calculated on a daily basis using “Monthly Rest”).
    • 4-10 years: Base Rate (BR) + 5.28% p.a. (Profit is calculated on a daily basis using “Monthly Rest”).
    • Note: The revised Base Rate (BR) effective from 10 July 2020 is 2.52% p.a.

Flat Rate Offer

  • With Takaful Coverage:
    • 1-10 years: 4.99% p.a. (Profit is calculated on a monthly basis using “Sum of Digit”).
  • Without Takaful Coverage:
    • 1-10 years: 5.99% p.a. (Profit is calculated on a monthly basis using “Sum of Digit”).

Frequently Asked Questions (FAQ) about Islamic Banking in Malaysia

Curious about Islamic Banking in Malaysia? Explore our FAQ section for answers to common questions. Find out more about our services, policies, and how we can meet your needs. Dive into our FAQ to discover everything you need to know before getting started. Start exploring now!

What is the first Islamic Banking in Malaysia?

The first Islamic Banking in Malaysia is Bank Islam Malaysia Berhad or knows as BIMB and is established in year 1983.

Why should you apply for a personal loan with Bank Islam Malaysia Berhad (BIMB)?

Applying for a personal loan with Bank Islam Malaysia Berhad (BIMB) ensures you benefit from the expertise of Malaysia’s first Islamic bank. With a reputation built on trust and innovation, BIMB offers tailored financial solutions designed to meet your needs. Enjoy competitive rates, flexible terms, and personalized service, backed by the widest network of dedicated Islamic banking channels in the country. Choose BIMB for peace of mind and financial empowerment on your terms.”

Why is Islamic banking growing bigger in Malaysia?

Islamic banking has experienced significant growth in Malaysia for several reasons:

  1. Strong Regulatory Support: Malaysia’s government has actively supported the development of Islamic finance through regulatory frameworks and policies. The establishment of Bank Negara Malaysia (Central Bank of Malaysia) as the regulatory authority for Islamic banking has provided a stable and supportive environment for growth.
  2. Growing Muslim Population: Malaysia has a predominantly Muslim population, which has driven demand for Sharia-compliant financial products and services. Islamic banking resonates with the religious and cultural values of many Malaysians, leading to its widespread acceptance and adoption.
  3. Innovative Products and Services: Malaysian Islamic banks have been proactive in developing innovative Islamic financial products and services to cater to the diverse needs of consumers and businesses. This innovation has contributed to the attractiveness of Islamic banking compared to conventional banking.
  4. International Recognition: Malaysia’s success in developing its Islamic finance industry has gained international recognition, attracting investments and partnerships from global Islamic financial institutions. This has further fueled the growth of Islamic banking in the country.
  5. Financial Inclusion: Islamic banking has played a role in promoting financial inclusion by offering accessible and inclusive financial solutions to segments of the population previously underserved by conventional banks. This has contributed to the expansion of the Islamic banking sector in Malaysia.

Overall, a combination of supportive regulation, cultural affinity, innovation, international recognition, and a focus on financial inclusion has contributed to the significant growth of Islamic banking in Malaysia.

What products and services does Islamic banking offer in Malaysia?

Islamic banking in Malaysia offers a wide range of products and services tailored to meet the needs of customers while adhering to Islamic principles. Some of the key products and services include:

  1. Islamic Financing Products: These include various types of financing facilities such as:
    • Islamic Home Financing (Musharakah Mutanaqisah or Bai Bithaman Ajil)
    • Islamic Auto Financing (Ijarah Thumma Al-Bai or Murabahah)
    • Islamic Personal Financing (Murabahah or Qardh)
    • Islamic Business Financing (Musharakah or Mudharabah)
    • Islamic Working Capital Financing (Murabahah or Bai’ Al-‘Inah)
  2. Islamic Deposit Products: These are savings and investment accounts that comply with Sharia principles, such as:
    • Islamic Current Accounts
    • Islamic Savings Accounts
    • Islamic Fixed Deposit Accounts
    • Islamic Investment Accounts (Mudarabah or Wakalah)
  3. Islamic Wealth Management Services: These services cater to individuals and institutions seeking Sharia-compliant investment opportunities, including:
    • Islamic Unit Trust Funds
    • Sharia-Compliant Asset Management
    • Wealth Advisory Services
  4. Islamic Takaful (Insurance): Takaful is Islamic insurance based on the principles of mutual cooperation, solidarity, and shared responsibility. It offers various types of coverage, including life, health, property, and general takaful.
  5. Islamic Cards: These are Sharia-compliant credit cards and debit cards that adhere to Islamic finance principles, such as not charging interest (riba) or engaging in transactions related to prohibited activities (haram).
  6. Islamic Investment Products: These include Sharia-compliant investment vehicles such as:
    • Islamic Equity Funds
    • Islamic Bond Funds (Sukuk)
    • Islamic Real Estate Investment Trusts (REITs)
    • Islamic Private Equity Funds

These are just some examples of the products and services offered by Islamic banking institutions in Malaysia. The sector continues to innovate and expand to meet the evolving needs of customers while remaining true to Islamic finance principles.

Article Related to Personal Financing from Banks

*Source: https://www.bankislam.com

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