Agrobank
Explore Agrobank AgroCash-i, a Shariah-compliant personal financing facility providing individuals with consumer funding based on Tawarruq transactions.
Introduction
Agrobank offers dedicated, Shariah-compliant consumer products designed specifically for individuals who need personal funds. Its personal financing solutions provide retail customers with clean liquidity, allowing individuals to manage personal expenses while maintaining a connection to agricultural or rural economic activities.
AgroCash-i
This consumer personal financing facility is tailored specifically for individual customers who require personal funds for consumer spending. It provides a reliable avenue for retail applicants to secure financing while aligning with the bank’s specialized consumer banking services.
Tawarruq
Operating under strict Islamic banking principles, this plan is fully structured around the concept of Tawarruq, which involves a transparent commodity murabahah purchase and sale transaction. This process allows applicants to obtain immediate, clean liquidity legally and ethically without relying on conventional interest-bearing loans.
Key Features
| Category | Details |
|---|---|
| Financing Limit | Government Employees: Maximum RM250,000 GLC Staff: Maximum RM200,000 Refer to Additional Eligibility for financing limit up to RM250,000 |
| Financing Tenure | Maximum 10 years |
| Profit Rate Promotion ≥ RM50,000 | Up to 3 years: SBR + 2.23% p.a. Up to 10 years: SBR + 2.25% p.a. |
| Profit Rate Promotion < RM50,000 / Internal Overlap | Up to 3 years: SBR + 2.43% p.a. Up to 10 years: SBR + 2.45% p.a. |
| Profit Rate – Unsatisfactory Credit | Up to 10 years: SBR + 4.67% p.a. |
| Ceiling Profit Rate (CPR) | SBR + 7.75% p.a. or 10% p.a., whichever is higher (for Sale Price calculation) |
| Effective Profit Rate (EPR) | Based on current profit rate, not exceeding CPR, calculated on monthly balance |
| Notes | Current Standardized Base Rate (SBR): 2.75% Subject to product Terms & Conditions |
| Fees & Charges | |
| Stamp Duty | As per Stamp Act 1949 (Revised 1989) |
| Brokerage Fee | Based on financing facility value or broker fee set by commodity trading platform (subject to service tax or other applicable taxes) |
Eligibility Criteria
Eligibility Criteria
| Category | Details |
|---|---|
| Age Requirement – Government Employees | 18 years old and above, not exceeding 60 years old upon expiry of facility or opted retirement age (whichever comes first) |
| Age Requirement – GLC Staff | 21 years old and above, not exceeding 60 years old upon expiry of facility or opted retirement age (whichever comes first) |
| Eligibility – Government Employees | Permanent staff with at least 6 months of service (confirmed or under probation) |
| Eligibility – GLC Staff | Permanent staff confirmed with at least 1 year of service |
| Additional Eligibility – Financing Limit RM250,000 | Open to Central Government, State Government, and Statutory Bodies Permanent staff with at least 6 months of service (including contractual/interim service) Gross monthly income including allowances based on financing eligibility (BPA deduction, DSR, Net Disposable Income) Debt Service Ratio (DSR) up to 70% (including housing financing) Other conditions as stated above |
| Minimum Salary Requirement – Government Employees | Gross monthly income (including fixed allowance) more than RM1,000 |
| Minimum Salary Requirement – GLC Staff | Gross monthly income (including fixed allowance) more than RM2,000 |
| Takaful Coverage | Customers are encouraged to take Skim Takaful Kredit |
Repayment Table
Agrocash-i personal financing repayment table
Conclusion
Agrobank’s AgroCash-i stands out as a focused consumer financial instrument for individuals requiring personal funding. By offering a solid personal financing framework backed by ethical Tawarruq transactions, Agrobank ensures that individual consumer needs are met transparently.
Contact Us
| Category | Details |
|---|---|
| Head Office | Bank Pertanian Malaysia Berhad (Agrobank) Leboh Pasar Besar 50726 Kuala Lumpur |
| Telephone | +603‑2731 1600 |
| Agrobank Contact Centre | Local: 1‑300‑88‑2476 |
| Office Hours – Peninsular (except Kelantan & Terengganu) | Monday – Friday: 8:30 am – 5:00 pm Weekend & Public Holiday: Closed |
| Banking Hours – Peninsular | Monday – Friday: 9:00 am – 4:00 pm Weekend & Public Holiday: Closed |
| Rest Time – Peninsular | Friday: 12:30 pm – 2:30 pm |
| Office Hours – Kelantan & Terengganu | Sunday – Thursday: 8:30 am – 5:00 pm Weekend & Public Holiday: Closed |
| Banking Hours – Kelantan & Terengganu | Sunday – Thursday: 9:00 am – 4:00 pm Weekend & Public Holiday: Closed |
| Office Hours – Sabah & Sarawak | Monday – Friday: 8:30 am – 5:00 pm Weekend & Public Holiday: Closed |
| Banking Hours – Sabah & Sarawak | Monday – Friday: 9:00 am – 4:00 pm Weekend & Public Holiday: Closed |
| Rest Time – Sabah & Sarawak | Friday: 12:00 pm – 2:00 pm |
| ATM/CDM/Fast Cheque Machine | Daily: 4:00 am – 12:00 am |