1. What is Maybank Mikro / Maybank Islamic Mikro?
  2. Is there any fee or advance payment deduction from the financing amount approved?
  3. Is this facility offered under Conventional or Islamic?
  4. What is the minimum and maximum financing amount that I can apply?
  5. What is the minimum and maximum financing tenure that I can choose from?
  6. What is the interest/ profit rate offered?
  7. Who is eligible to apply for Maybank Mikro/ Maybank Islamic Mikro?
  8. What are the documents required to apply for this facility?
  9. Will I be notified if my application is approved or declined?
  10. How do I receive the funds?
  11. How fast can I obtain the funds?
  12. How much is the Late Charges/ Compensation Fee (Islamic)?
  13. How much is the Early Settlement Fee?
  14. Do I need to sign the letter of offer?
  15. The Bank had approved an amount lower than what I asked for. Can I decline the facility?
  16. How is the monthly installment calculated?
  17. Can I apply for a second Maybank Mikro/ Maybank Islamic Mikro?
  18. Can I request for interest/profit rate reduction?
  19. Can I request Maybank to disburse the financing amount to pay my other business related or personal financing?
  20. Can I pay the installment by signing up a Standing Instruction from another bank?
  21. What if I canít pay the facility and default the monthly installment?
  22. What happened if I pay extra to my monthly installment financing amount, can I redraw the money?
  23. How do I pay my monthly installments?
  24. Where can I get more information?

1. What is Maybank Mikro / Maybank Islamic Mikro?
Maybank Mikro / Maybank Islamic Mikro is a term financing facility with fixed monthly installment schedule for self-employed individuals and micro enterprises. This financing facility is to provide financial assistance for those intending to expand their business.

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2. Is there any fee or advance payment deduction from the financing amount approved?

No. The full amount approved will be credited into your savings/current account.



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3. Is this facility offered under Conventional or Islamic?
This facility is available under both Conventional and Islamic.

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4. What is the minimum and maximum financing amount that I can apply?
Minimum financing amount is RM 3,000. Maximum financing amount is RM 50,000. Financing amount approved is subject to credit evaluation.

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5. What is the minimum and maximum financing tenure that I can choose from?
The minimum financing tenure is 1 year and the maximum financing tenure is 5 years (60 months)

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6. What is the interest/ profit rate offered?

Interest/ Profit rate offered is depending on the financing amount approved, details as follows:

Customer TypeFinancing Amount Rate (%)
a) Self-employedRM3,000 to RM20,000 Flat rate 11% p.a
b) Micro enterpriseRM20,000 to RM50,000BLR/BFR+1.25% p.a
 



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7. Who is eligible to apply for Maybank Mikro/ Maybank Islamic Mikro?

The financing facility is for business purpose, i.e. working capital and/or capital expenditure only.

For self-employed to be eligible must meet the following criteria:

  1. All Malaysian Citizen aged between 21 to 60 years old
  2. Self-employed with valid business license/ permit
  3. Business must be owner operated and on full time basis
  4. At least 2 years business experience
  5. No negative personal financing record, i.e CCRIS, bankruptcy etc.

For micro enterprise to be eligible must meet the following criteria:

  1. Companies registered with Companies Commission of Malaysia.
  2. Business must be in operation for at least 2 years
  3. Business must comply with the NSDC's SME ‘micro' definition:
    a. Less than 5 full-time employees
    b. Annual Sales Turnover less than RM 200,000 for primary agriculture and services sector
    c. Annual Sales Turnover less than RM 250,000 for manufacturing
    d. No negative business financing record, i.e CCRIS, bankruptcy etc.


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8. What are the documents required to apply for this facility?

To expedite processing, please enclose:

Self-Employed

  1. Application Form
  2. Copy of NRIC (both sides)
  3. Latest Form B with tax receipt payment
  4. Company registration/ Business Permit or License
  5. Bank's confirmation - account opened 2 years or more
  6. Latest 6 months Bank Statement

Micro Enterprise

  1. Application Form/ Letter
  2. Company Registration
  3. Last 3 years financial statement
  4. Bank's confirmation - account opened 2 years or more
  5. Latest 6 months Bank Statement


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9. Will I be notified if my application is approved or declined?
You will be notified via letter on the status of your application, either approve or decline. If your application is approved by the Bank, you will receive an Approval Letter stating the payment due date, installment amount, tenure, financing amount approved and the financing account number.

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10. How do I receive the funds?

  1. For self-employed, funds will be transferred to your Maybank/ Maybank Islamic individual savings or current account (Joint account and other Bank's savings/ current account is not allowed).
  2. For micro enterprises, funds will be transferred to your Maybank/ Maybank Islamic business current account (Joint account and other Bank's current account are not allowed).


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11. How fast can I obtain the funds?
Application approval as fast as 3 days. Disbursement is on the next working day upon approval of the application. This is subject to full documentation and information received by the Bank.

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12. How much is the Late Charges/ Compensation Fee (Islamic)?
The Late Charges/ Compensation Fee (Islamic) is 1% per annum on the amount in arrears calculated from the overdue date till date of full monthly payment.

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13. How much is the Early Settlement Fee?

Maybank Mikro,

  1. For self-employed, the Early Settlement Fee is RM 200 or a sum equivalent to 3% of the loan outstanding balance, whichever is higher, only if settled within the 1st half of the loan tenure.
  2. For micro enterprise, rebate on interest charged depends whether sufficient notice given to the bank prior to early full settlement. The minimum notice period is similar to other business loan, i.e. 1 month.

As for Maybank Islamic Mikro, no Early Settlement Fee.



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14. Do I need to sign the letter of offer?

  1. For self-employed the properly executed Application Form is the only document as proof of acceptance of all terms and conditions imposed.
  2. For micro enterprise the normal Letter of Offer will be issued and full acceptance is required to indicate acceptance of all terms and conditions stated therein.


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15. The Bank had approved an amount lower than what I asked for. Can I decline the facility?

  1. For self-employed, you are deemed to have accepted the financing upon approval and disbursement of whatever amount disbursed into your savings/ current account, regardless whether it is the same or lower than the amount applied.
  2. For micro enterprise, the option of acceptance or otherwise lies with the customer.


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16. How is the monthly installment calculated?
The monthly installment is calculated based on the following formula:
For self-employed,

{Principal(P) + (P x Tenure(years) x Rate)}
Tenure(months)


For micro enterprise,
Simple rate computation based on BLR/BFR+1.25%p.a. Interest/Profit rate will be computed and debited to the financing account on monthly basis.



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17. Can I apply for a second Maybank Mikro/ Maybank Islamic Mikro?
Yes, subject to you settling the existing one satisfactorily.

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18. Can I request for interest/profit rate reduction?
No, interest/profit rates are fixed and pre-determined at the point of application approval.

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19. Can I request Maybank to disburse the financing amount to pay my other business related or personal financing?
No, the approved financing amount will be credited to your Maybank personal savings or current account.

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20. Can I pay the installment by signing up a Standing Instruction from another bank?
Yes. You are encouraged to sign up a standing instruction for ease of payment.

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21. What if I canít pay the facility and default the monthly installment?
Contact us early if you have problem meeting your financing obligation.

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22. What happened if I pay extra to my monthly installment financing amount, can I redraw the money?
The extra payment you paid will be treated as an advance payment to reduce your next month installment. You are unable to redraw the extra payment made.

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23. How do I pay my monthly installments?

The payments can be made in many convenient ways such as:

  1. By cash or cheque at any Maybank/ Maybank Islamic branch nationwide.
  2. By cash or cheque through the Cash Deposit Machines and Cheque Deposit Machines at selected Maybank branches.
  3. By online payment via Maybank2u (www.maybank2u.com.my) or Maybank2e (www.maybank2e.net.my) 
  4. By direct debit standing instruction from your savings/ current accounts.


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24. Where can I get more information?
Kindly call 03-7844 3686 from 9.00 am to 5.00 pm (Monday to Friday). Alternatively you can contact our Customer Service 1-300-88-6688 (local) or 603-7844 3696 (overseas)

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