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COMMERCIAL HIRE PURCHASE

Corporate Staff Auto Scheme

A scheme for employees of established companies to purchase motor vehicles from selected Maybank dealers.

Benefits

  • Higher margin of finance
  • Competitive interest / profit rate
  • Simplified approval process
  • Minimum documents required
  • Convenience

Types of Vehicles Financed

  • New passenger vehicles.
  • Unregistered reconditioned passenger vehicles not exceeding 5 years from the manufactured date.
  • Used and registered reconditioned passenger vehicles not exceeding 10 years from the manufactured date.


Purpose of Financing

  • To provide financing to all eligible employees for the purchase of all passenger vehicles acceptable to Maybank.
  • To refinance existing employees' car loan / financing under Zero Entry Balance Transfer (ZEBT).


Type of Facility

  • Hire Purchase / Islamic Hire Purchase (AITAB) and Term Loan / Commodity Murabahah Term Financing-i (Conventional and Islamic)

Financing Tenure

  • Up to 9 years
  • Payment via salary deduction only


Margin of Finance

  • Hire Purchase / AITAB
    Up to 90% of the cost of each new/unregistered reconditioned passenger vehicles.
  • Term Loan / Commodity Murabahah Term Financing-i
    Up to 100% of the cost of each new/unregistered reconditioned passenger vehicles.

Eligibility

  • Individuals aged 18 years old and above
  • Private Limited and Public Limited Companies
  • Permanent employees and the years of employment are as follows:
    • Non-executive (>2 years of service)
    • Executive and above (>1 year of service)
  • Minimum basic salary of RM1,500.00 (subject to Maybank management’s approval)

Requirements

  • CAS Application Form duly completed and signed by the employee and verified by HR stating the allowable deduction:
  • Vehicle Sales Order (VSO)
  • Copy of NRIC
  • Copy of Driving License
  • Latest pay slips (2 months)

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