Product Disclosure Sheet- Personal Financing-i
PRODUCT DISCLOSURE SHEET
Bank Islam Malaysia Berhad
(Read this Product Disclosure Sheet before you decide
to accept the Personal Financing-i. Be sure also to read
the terms in the letter of offer. Seek clarification from
your institution if you do not understand any part of
this document or the general terms)
Personal Financing-i
1. What is Bank Islam Personal Financing-i facility?
 Bank Islam Personal Financing-i facility is an unsecured/secured term financing to meet personal financial
needs which is calculated based on either a fixed rate or variable/floating rate.
2. What is the Shariah concept and contract applicable?


The Shariah concept used is Tawarruq which comprises of Bai Murabahah and Wakalah contracts.
The illustration of the product structure is depicted below:
3. What do I get from this product?

Total amount financed
Minimum financing amount of RM10,000 and maximum
amount of RM200,000 or more if secured with
collateral. The final financing amount approved will be
based on the Bank’s credit evaluation.

Tenure
From 1 year (12 months) to 15 years (180 months).

Profit rate
Customer may opt for either one of the two types of
rates i.e. Fixed rate or Floating rate:
Fixed rate
1-3 years - from 3.25% to 6.00% per annum.
4-10 years - from 4.50% to 7.00% per annum.
11-15 years - from 5.50% per annum.
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Product Disclosure Sheet – Personal Financing-i Sales
Bank Islam Malaysia Berhad
BU/PDS/ Personal Financing-i CFPC/Version 2.0/2012
Floating rate
1-3 years - Base Financing Rate (BFR) – 2.10% per
annum.
4-10 years - Base Financing Rate (BFR) – 0.60% per
annum.
11-15 years - Base Financing Rate (BFR) + 0.25% per
annum.

Effective profit rate
From 4.50% to 11.69% depending on the financing
tenure.
4. What are my obligations?

Monthly installment amount.
The monthly installment is calculated in accordance to
the formula below:
Fixed rate:
((P x R x T) + P) / t,
where:
P = Financing Amount Approved
R = profit rate per annum
T = Tenure of facility in years
t = Tenure of facility in months
Floating rate:
12 * T
P
R
1+
1200
1200
12 * T
R
1+
- 1
1200
Where:
P = Financing Amount Approved
R = profit rate per annum
T = Tenure of facility in years


Customer is required to arrange either Salary Deduction or Salary Transfer with Auto Fund Transfer or
Standing Instruction for the monthly installment payments.
Customer is obliged to pay the monthly installment payments until full settlement of the financing.
Should the financing tenure be extended beyond the retirement age, the customer is still obliged to pay
the monthly installment payments. However, the customer may opt at any time to fully settle the
financing.
5. What are the fees and charges that I have to pay?


Stamp duties (as per Stamp Act 1949 (Revised 1989)).
Wakalah @ agency fee of RM 50.00.
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Product Disclosure Sheet – Personal Financing-i Sales
Bank Islam Malaysia Berhad
BU/PDS/ Personal Financing-i CFPC/Version 2.0/2012
6. Does Bank Islam hold my two months payment as advance payment?


No. Bank Islam does not hold two months payment as advance payment.
However, if the mode of payment is by way of Standing Instruction, Bank Islam may request 2 months
advance payment.
7. What if I fail to fulfill my obligations?

Customer shall pay the Bank late payment charges by way of ta'widh (compensation) as follows:
a) Before maturity of the Facility
A sum equivalent to one per centum (1%) per annum on overdue instalment(s) until date of full
payment;
b) After maturity of the Facility
A sum equivalent to the prevailing daily overnight Islamic Interbank Money Market Rate on
outstanding balance i.e. outstanding Selling Price less ibra’ (if any);
c) Post Judgment Debt
A sum equivalent to the prevailing daily overnight Islamic Interbank Money Market Rate on basic
judgment sum calculated from judgment date until date of full payment.
PROVIDED ALWAYS that the above said ta’widh (compensation) rates may be varied by Bank Negara
Malaysia (BNM) from time to time and shall be applied in such manner as approved by BNM.
 Legal action may be taken if you fail to respond to the reminder notice.
 Legal action against you may affect your credit rating leading to your future credit assessment being more
difficult or expensive to you.
8. What if I fully settle the financing before its maturity?

In the event of Early Settlement of the Financing, the Bank undertakes to grant to the Customer an Ibra’
(rebate) which is equivalent to the deferred Profit at the point of settlement.
Ibra’ (rebate) Formula: Ibra’ /rebate on early settlement = Deferred Profit.
Note:
i. Deferred Profit = Total Contracted Profit – Accrued Profit.
ii. Total Contracted Profit = Selling Price – Purchase Price (or Financing Amount).
iii. Accrued Profit is calculated based on Effective Profit Rate of the outstanding Purchase Price (or
Financing Amount) being disbursed (or utilized).
9. Do I need any takaful coverage?


Yes. Personal Financing Takaful Plan (PFTP) is required.
Optional for secured facility.
10. Documents that I need to submit?

Minimum documents required for this financing:
Salary earner
i. Photocopy of IC.
ii. Latest 3 months salary slip.
iii. Latest Employee confirmation letter.
iv. Latest annual income/tax statement or latest 3 months banks statement or EPF statement.
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Product Disclosure Sheet – Personal Financing-i Sales
Bank Islam Malaysia Berhad
BU/PDS/ Personal Financing-i CFPC/Version 2.0/2012
For self employed
i. Photocopy of IC.
ii. Business Registration.
iii. Latest 6 months Bank Statement.
iv. Latest 2 years Financial Statement.
v. Latest annual income/tax statement.
11. What do I need to do if there are changes to my contact detail?

It is important for you to immediately inform us of any change in your contact details to ensure that all
correspondences reach you in a timely manner.
12. Where can I get assistance and redress?




If you have difficulties in making the monthly installment payments, you should contact us earliest
possible to discuss the payment options.
Alternatively, you may seek the services of Agensi Kaunseling dan Pengurusan Kredit (AKPK), an agency
established by Bank Negara Malaysia to provide free services and money management, credit counseling,
financial education and debt restructuring for individuals. You can contact AKPK at:
Tingkat 8, Maju Junction Mall
1001, Jalan Sultan Ismail,
50250 Kuala Lumpur.
Tel: 1-800-22-2575
Email: [email protected]
If you wish to complaint on the products or services provided by us, you may contact us at:
Feedback Channel & Distribution Department
(Jabatan Rangkaian & Pengagihan Maklum Balas)
Level 18, Menara Bank Islam
No 22, Jalan Perak
50450 Kuala Lumpur.
Tel: 03-2782 1281/1284/1285
Fax: 03 2782 1337
Email: [email protected]
If the query or complaint is not satisfactorily resolved by us, you may contact Bank Negara Malaysia LINK
or TELELINK at:
Block D, Bank Negara Malaysia,
Jalan Dato’ Onn,
50480 Kuala Lumpur.
Tel: 1-300-88-5465
Fax: 03-2174 1515
Email: [email protected]
13. Other Personal Financing-i package available?

Beside normal package offering, other package available (among others) are:
 Non package financing.
 Collateralized financing.
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Product Disclosure Sheet – Personal Financing-i Sales
Bank Islam Malaysia Berhad
BU/PDS/ Personal Financing-i CFPC/Version 2.0/2012
14. Where can I get further information?

Should you require additional information about Personal Financing-i product, please refer to the banking
information booklet available at all our branches or contact:
Contact Centre Department
Bank Islam Malaysia Berhad
th
17 Floor, Menara Bank Islam,
No. 22, Jalan Perak,
50450 Kuala Lumpur.
Tel: 03-26 900 900
Email: [email protected]
IMPORTANT NOTE: LEGAL ACTION MAY BE TAKEN AGAINST YOU IF YOU FAIL TO PAY THE
MONTHLY INSTALLMENTS OF YOUR PERSONAL FINANCING-i FACILITY.
The information provided in this disclosure sheet is valid as at 1 July 2012.
Page 5 of 5
Product Disclosure Sheet – Personal Financing-i Sales
Bank Islam Malaysia Berhad
BU/PDS/ Personal Financing-i CFPC/Version 2.0/2012