Benefits & Privileges

Octo Octo Octo
Min Income
No Guarantor
Flexible Tenure

Eligibility

  • Individuals aged 21 to 60 years old*
  • Malaysian citizen
  • No joint applications allowed
  • Minimum monthly gross income of RM800 (including variables, e.g. overtime and allowances)
  • At least 6 (six) months of employment or business establishment
  • Minimum financing amount offered is RM3,000 with Maximum RM50,000 or up to 8X gross monthly income (whichever is lower)

*Maximum 65 years old upon maturity of loan tenure

Income Document Requirement

Employer Fixed Income Earner (Basic only) Variable Income Earner (Basic + Allowances)

Multi National Company
 

Public Listed Company
 

Government Linked Company

Minimum latest 1 month payslip OR latest EPF statement with minimum 6 months contribution Minimum latest 3 months payslip OR latest EPF statement with minimum 6 months contribution
Others Minimum latest 3 months payslip AND latest 3 months salary crediting bank statement OR latest EPF statement with minimum 6 months contribution
Self Employed Income Documents

Sole Proprietor
 

Partnership
 

Private Listed Company (Sdn. Bhd.)

Minimum latest 6 months company bank statement AND Business Registration Document*

OR

a) Latest Form B AND LHDN
payment receipt OR

b) Latest e-Form B AND e-filing acknowledgement receipt

*Business Registration Document refers to: Trading Licence/Company Search/Partnership Agreement/Professional Practicing Certificate

Fees and Charges

  • Stamp Duty of 0.5% from approved financing amount
  • Compensation/Ta’widh charged at 1% p.a. on the instalment amount in arrears
  • Takaful contribution will depend on the financing amount and tenure covering death and total permanent disability (optional)
  • Rebate/Ibra’ will be provided if the financing is fully settled before maturity
  • No fees for early settlement

Profit Rates

Profit Rate (Flat Rate) Equivalent to Effective Profit Rate
It ranges from 18% to 24% per annum It ranges from 28.88% to 41.70% per annum depending on financing tenure.

Note: The final approved Profit Rate is subject to the Bank’s approving criteria.