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Financing

Commodity Murabahah Home Financing-i

Shariah-compliant home financing based on the concept of Commodity Murabahah

  • Margin of financing:

    Up to 95%

  • Financing tenure:

    Up to 35 years or age 70

Benefits


  • Based on the Shariah principle of Murabahah (cost plus profit) where the Bank provides financing to the customer via the trade of identified Shariah-compliant commodities such as Crude Palm Oil and RBD Palm Olein.
  • A choice of affordable profit rates either fixed, tiered or variable profit rates
  • No compounding of profit and other charges
  • No early settlement charges/ lock-in period penalty
  • Protection of ceiling rate upon the fluctuation of Islamic Base Rate (IBR) throughout tenure
  • Competitive financing rates and margin of financing
  • Lower monthly instalment with longer payment period of up to 35 years or until the age of 70, whichever event occurs first
  • Higher financing eligibility of up to 70% of your gross income*
  • Higher financing margin of up to 95%of the value of the house (including capitalisation of related expenses such as MRTT contribution)
  • MRTT coverage, which settles your outstanding mortgage and transfers the title deed to your family in the event of death or total and permanent disability
  • Stamp duty waiver on conversion from conventional to Islamic facility
  • Hassle free for third party financing
  • Rebates for early settlement
  • Minimal documentation compared with other home financing plans
  • Convenient instalment payment options via Maybank and Maybank Islamic branches, ATMs, Kawanku Phone Banking, and online via Maybank2u.
  • Flexibility to redraw additional payment made in excess of the normal monthly instalment amount. Redrawing via M2U (for fully release only) or over-the-counter (for fully and progressive release) is subject to RM25 fee per transaction.

*Terms and Conditions apply

Scope of Financing


  • Financing purchase of residential properties, whether units are completed or under construction
  • Refinancing your existing mortgage from another financial institution and save profit
  • Remortgaging your residential properties that are free from encumbrance for extra cash
  • Additional financing for your personal investment needs, any contingencies or home improvements
  • Purchase of vacant land and construction of bungalows thereon
  • Conversion from conventional loans to Islamic financing
  • Restructuring your current mortgage to meet your current financial needs
  • Minimum property value of RM75,000 and a minimum financing amount of RM10,000

How to apply

For all individuals, joint applicants, residents, and non-residents


Required documents

Please bring along the following documents when you visit our branch:


Compulsory Identity Documents

  • For Residents- NRIC/Identity Card
  • For Non-residents- Latest valid passport & visa/working permit/employment pass
  • For Self-employed Applicants-Please include the business registration form/ Form 24 & 29 with any of the above.

Compulsory Property Documents

  • Copy of Sales & Purchase/Booking Receipt or Letter of Offer from Developer
  • Copy of Individual Title Deed
  • Property Valuation Report (for completed properties)

Compulsory Income Evidences

  • For salary earners/gainfully employed- Latest 3 consecutive months salary slips/vouchers, latest 6 consecutive months of commission statement, latest EPF statement, latest EA form, latest 6 months bank statement, and letter of confirmation of employment and remuneration.
  • For self employed (including Sole-Proprietorship, Partnership, Commission earners)- Latest certified/audited financial statements, latest statement of commission Issued by company, latest EPF statements, latest B/BE Form/e-Filing, latest tax payment receipt, latest 6 months bank statements.

Fees and Charges


  • Non-Zero Entry Cost
    The customer pays the legal fees, valuation fees and **stamp duties
  • No trading or brokerage fee
    Customer will not be charged brokerage/ trading fee for the Commodity trading

Other information


Click here to see Mortgage Product Disclosure Sheet

Click here to see Mortgage Product Disclosure Sheet (BM)

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