Anytime Money Personal Financing-i

Frequently Asked Questions

1. What is Anytime Money Personal Financing-i (APF-i)?

Anytime Money Personal Financing-i (APF-i) is an Islamic term financing facility with fixed monthly instalment. It is based on Islamic concept of Bai Al-Inah (buy and sell back).

2. Is this product for muslim only?

No. It is available to all who are eligible; either muslim or non-muslim.

3. What can I benefit from this product?

• Total consumption benefit can be expanded with a disciplined payment method.
• The fund can be used for almost everything such as treat your family to a holiday, pay for child’s education, marriage, bill payments, savings for emergency, etc. In addition, it can be used for life little emergencies and surprises too.
• This is an alternative simple cash financing facility to credit card. Customer do not have to provide any collateral for this facility

4. Why should I choose Anytime Money Personal Financing-i instead of the competitors’?

• There are no hidden costs for Anytime Money Personal Financing-i. i.e. no processing fees, no stamping fees.
• Fast Approval; Money in your account within 3 working days.
• Should customer decide to opt for takaful, we will reduce 0.5% from the rate offered.

5. How to apply for Anytime Money Personal Financing-i?

Just complete a simple Anytime Money Personal Financing-i Application Form and submit together with the documents as noted below:

Salaried Applicants

• Copy of NRIC
• Copy of Current or Previous Month’s Pay Slips / Copy of Bank Statement showing Salary Crediting.
  
   OR
  
  Form BE (full submission to income tax departments with payment receipts attached) / EPF Statement
  
   OR
  
  Copy of appointment letter (if employed less than 3 months)

Variable Income Earner

• Copy of NRIC
• Copy of latest 3 Months Pay Slip / Copy of Bank Statement showing Salary Crediting.
• Form BE (full submission to income tax departments with payment receipts attached) / EPF Statement / Copy of Yearly Commission Statements from Employer

Self Employed

• Copy of NRIC
• Copy of Latest Form B (full submission to income tax departments with payment receipts, or CP02 attached) / EPF Statement / Copy of Audited Financial Statement / Profit & Loss Account
• Copy of Business Registration Form

6. What is the minimum requirement to be eligible for this financing?

The minimum requirements are as below:

• 21 – 55 years old
• Minimum monthly income of RM2,000 per month

7. What is the minimum and maximum financing amount allowed?

• Minimum amount: RM6,000
• Maximum amount: RM120,000

Note: Financing amount is in multiple of RM500

8. Is there any Financing Cap for amount applied?

Yes, and it is dependable on the Monthly Income :-

• RM2,000-RM4,999     >     3 x Salary
• RM5,000-RM9,999     >     4 x Salary
• RM10,000 and above     >     5 x Salary

Note: Subject to maximum financing amount of RM50,000.00

9. What is the minimum and maximum financing duration allowed?

• Minimum: 2 years
• Maximum: 5 years

10. What is the profit rate offered?

The profit rate offered is dependant on the financing amount applied :-

• RM 6,000 - RM 19,500   -   12.5%
• RM20,000 - RM 49,500    -     11.5%
• RM50,000 - RM120,000     -     10.5%

11. Can I apply Anytime Money Personal Financing-i under joint application with my wife?

No, Anytime Money Personal Financing-i is only for INDIVIDUAL SOLE account. Joint application is NOT allowed.

12. How much is the Processing Fee?

The processing fee is currently waived.

13. When will the first instalment commence?

14. Can I early settle the facility before the maturity?

Yes. The Bank would require a 1-month notice or 1 month profit in lieu, AND RM200 or 3% of outstanding balance at the point of redemption (whichever is higher)

15. What about prepayment? Can I prepay during the financing tenure?

Prepayment is not allowed.

16. Can I restructure my instalment amount after the commencement of the first instalment?

No, as the Instalment amount and the Selling Price have been agreed initially.

17. How do I make monthly payment for this financing?

A Standing Instruction from customer’s deposit account will be established to the facility account upon disbursement. Payment can be made via this deposit account.