Agrobank was founded in 1969 in Malaysia and is known for agriculture financing and values-based banking (VBI). Not only that, but Agrobank has been a full-fledged Islamic bank since July 1, 2015, allowing it to offer a broad range of Shariah-compliant products and solutions to various customer segments and meet their needs. Agrobank has 184 branches across Malaysia as of 2018, with its headquarters located in Leboh Pasar Besar, 50726 Kuala Lumpur.
A personal loan is a type of instalment credit provided by a financial institution (bank) to a borrower (you) in a one-time cash payment. You, as a borrower, must pay back the amount plus interest either in regular or monthly instalments over the loan’s term agreement. Personal loans can be divided into secured loans (backed by collateral) and unsecured loans (no collateral required).
Agrobank provides 1 type of personal loan, which is AgroCash-i, a loan that is related to agriculture and agro-based activities.
The eligibility for individuals to apply for AgroCash-i are as follows:
There are numerous other reasons you should choose AgroCash-i.
AgroCash-i can provide you with the following benefits:
*Terms and conditions apply.
When applying for AgroCash-i, the following documents are required:
Certain fees apply, including:
Stamp duty
0.5% of the whole amount
Wa’d
As per the Stamp Act 1949 (Revised 1989)
Brokerage fee
RM30, subject to 6% service tax (if applicable)
Late payment fee
Ta’widh is charged at 1% of the current outstanding balance
Early termination fee
None
Takaful contribution
Based on the facility, the profit rate, tenure, and the customer’s age
For more information or assistance with AgroCash-i,
Per Annum (p.a.)
The interest rate over one year with the assumption that interest is compounded annually.
Tenure
The period you must repay your loan.
Principal
Principal is commonly known as the loan amount you requested from the bank.
Interest rate
Principal is commonly known as the loan amount you requested from the bank.
Instalment
Instalment is the fixed amount you must repay your personal loan every month until the term expires.
Penalty
A fee that a bank will levy on your overdue amount if you are late with your repayment.
Default
The term used to describe a situation in which a personal loan is not paid off for more than three months.
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