Kuwait Finance House (KFH) is the first Shariah-compliant and largest Islamic bank globally, founded in 1977. It mainly operates in the Middle Eastern countries, and in 2005, it began operating in Malaysia, with Malaysia being its regional headquarter. KFH offers various financial services for individuals or corporations that are Shariah-compliant.
What is a personal loan?
A personal loan is a financial transaction where a sum of money is borrowed for various purposes by individuals, organisations, or other entities to other persons, organisations, or entities. The borrower must repay the money they borrow over time, usually with interest. Personal loans may be subject to fees from some lenders.
What type of personal loan does KFH offer?
KFH provides 1 type of personal loan, which is Murabahah Personal Financing-i Generic, an unsecured personal loan that applies the “Murabahah Tawarruq” concept with a flat profit rate.
What are the eligibility to apply for Murabahah Personal Financing-i Generic?
You are eligible to apply for Murabahah Personal Financing-i Generic if you are a:
Malaysian citizen
Between 21 to 60 years
Minimum monthly income of RM3,000
A permanent staff of an MNC, PLC, and GLC (and its subsidiaries)
Why should I choose Murabahah Personal Financing-i Generic?
Shariah-compliant financing
The profit rates are competitive
Guarantors are not necessary
Financing amounts from RM5,000 to RM150,000
2-8 years of tenure
Inclusive of takaful
There are other reasons you should choose Murabahah Personal Financing-i Generic.
What are the documents required to apply for Murabahah Personal Financing-i Generic?
For new customers, you are required to provide:
Copy of NRIC
Copy of latest 3-month salary slip
Copy of latest 3-month EPF statement
For existing customers, you are required to provide:
Copy of latest 2-month salary slip
Copy of latest 3-month EPF statement
What are the fees included in Murabahah Personal Financing-i Generic?
Brokerage fees
Proportionate as per the sum of money borrowed
Stamp duty
0.5%
Takaful
Depends on the customer’s profile
Who should I contact for further information about Murabahah Personal Financing-i Generic?
