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.
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
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
Agrobank offers some of the best personal loans in Malaysia, with low interest rates, flexible repayment terms, and government-backed stability. Discover financing options tailored to your needs.
Introduction
Established in 1969, Agrobank has played a vital role in the development of Malaysia’s agriculture sector. Since July 1, 2015, it has become a fully-fledged Islamic bank, offering Shariah-compliant products and solutions to various customer segments including corporate, commercial, consumer, trade finance, and micro-financing.
Development and Commercial Roles
As a Market-Driven, Customer-Centric Development Financial Institution (DFI), Agrobank focuses primarily on strengthening the agriculture sector in Malaysia. It strikes an equal balance between developmental and commercial roles to benefit the agriculture sector.
Comprehensive Financing Solutions
From Upstream to Downstream
Agrobank provides a wide range of financing solutions for the agriculture community, covering upstream activities related to primary food and commodities-based agriculture activities, to downstream activities such as processing, marketing, and distribution of agricultural products. It also offers retail banking financing solutions to enhance the well-being of the agriculture community.
Customer Service Network
This is achieved through its network of 192 customer touchpoints including 138 branches, 1 agro banking, 1 virtual banking, 10 commercial financing centers, 34 kiosks, 8 agro corners, and agro points. In 2019, Agrobank celebrates its Golden Jubilee Anniversary, marking 50 years of its proud establishment in developing the agro industry.
VBI Initiative
VBI or Value-Based Intermediation is an initiative by Bank Negara Malaysia (BNM) which aims to improve the products and services offered by Islamic financial institutions towards better facilitation of entrepreneurship, community well-being, sustainable environment, and economic growth, without compromising on shareholders’ returns.
Consumer Product & Services
Hartani-i (Tawarruq)
Hartani-i serves as a financing solution for Government Servants, Private Sector Employees, and Stable Income Earners seeking to acquire agricultural land. This facility facilitates the purchase of land directly from vendors, through public auctions, or from land auctioned by Bank Pertanian Malaysia Berhad. Agrobank considers financing only if the land possesses an individual title, has been sub-divided, or is awaiting the issuance of an individual title.
Ar-Rahnu
Ar-Rahnu offers a short-term Islamic Pawnbroking Facility, enabling customers to access instant cash by leveraging gold items as collateral. This flexible solution provides individuals with a quick and convenient method to secure financing while retaining ownership of their valuable assets.
AgroCash-i
AgroCash-i is a personal financing facility designed to meet consumer financing needs primarily related to agriculture and agro-based activities. Utilizing Tawarruq transactions, this product empowers customers to access funds for various purposes, enhancing their financial flexibility and supporting their agricultural endeavors.
Personal Loan for Government Staff
Accessible Financing for Government Employees
Discover Agrobank’s tailored personal loan solution designed to meet the diverse financial needs of government staff. With competitive interest rates, eligible applicants aged between 18 to 60, or up to retirement age, can benefit. Whether confirmed or under probation, applicants must have a minimum gross salary of RM1,000 per month. Enjoy flexible financing options of up to RM200,000, with a maximum tenure of 10 years, ensuring financial empowerment and security. Consider opting for Skim Takaful Kredit for additional peace of mind.
GLC Staff Personal Loan
At Agrobank, we recognize the significance of financial empowerment for GLC (Government-Linked Company) staff. Our BR + 3.67% /p.a offers a tailored solution to address your financial needs with ease and convenience.
Eligibility Criteria
Details
Age Requirement
Applicants must be between 21 to 60 years old or up to retirement age, whichever comes earlier.
Employment Status
Permanent staff members of GLCs with at least one year of confirmed service.
Minimum Gross Salary
RM2,000 gross salary per month.
Optional Takaful Coverage
Customers are encouraged to take Skim Takaful Kredit for added protection and peace of mind.
Loan Details
Terms
Financing Amount
Eligible applicants can access financing of up to RM200,000.
Financing Tenure
Flexible repayment options with a financing tenure of up to 10 years.
Apply Today
Take the first step towards realizing your financial aspirations with Agrobank. Our streamlined application process ensures quick approval, enabling you to access the funds you need without delay. Contact us today to learn more about our competitive interest rates, flexible repayment terms, and personalized financial solutions tailored to meet your needs.
AgroBank Cash-i Facility
Looking for the perfect personal loan solution? Look no further than Cash-i. 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 Cash-i facility caters to consumer financing needs, particularly in agriculture and agro-based activities. Utilizing Tawarruq transactions, the Cash-i 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.
Eligibility Criteria
Government Employees
GLC Staff
Age Requirement
18 to 60 or up to retirement age, whichever is earlier
21 to 60 or up to retirement age, whichever is earlier
Eligibility
Permanent and have served for at least 6 months (confirmed or under probation)
Permanent staff and have been confirmed with at least one year of service
Minimum Salary Requirement
RM1,000 gross salary per month
RM2,000 gross salary per month
Takaful Coverage
Customers are encouraged to take Skim Takaful Kredit for added protection and security
Agrobank Cash-i
The Cash-i is a Shariah-compliant financing facility that caters to consumer financing needs, particularly in agriculture and agro-based activities. Utilizing Tawarruq transactions, the Cash-i 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.
Eligibility Criteria
Government Employees
GLC Staff
Age Requirement
18 to 60 or up to retirement age
21 to 60 or up to retirement age
Eligibility
Permanent and have served for at least 6 months (confirmed or under probation)
Permanent staff and has been confirmed with at least one year of service
Min. Salary Requirement
RM1,000 gross salary per month
RM2,000 gross salary per month
Takaful Coverage
Customer is encouraged to take Skim Takaful Kredit
Financing Options and Payment Periods
The Cash-i 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.
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.
Contact Us
Agrobank Malaysia My office Leboh Pasar Besar, City Centre, 50050 Kuala Lumpur
