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Muamalat Hire Purchase-i
 
 
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Muamalat Hire Purchase-i
Muamalat Hire Purchase-i
The most flexible and comprehensive Islamic Hire Purchase Facility in the market.

Whatever your dream car may be, Bank Muamalat can help you drive it home in the fastest possible time. Our flexible and comprehensive Islamic hire purchase facility for motor vehicle take care of everything, including comprehensive Takaful coverage and easy on-line payment facilities at 50 branches throughout the nation. Visit any of our branches or service centers and turn your dream car to real driving pleasure today!

Muamalat Hire Purchase-i is based on the concept of Al-Ijarah Thumma Al-Bai, which incorporates the Shariah principles of Ijarah (lease) and Bai (sale). In essence, the Bank will buy the vehicle that you desire from the dealer or third party and then lease it to you for an agreed period and rental rate. At the end of the lease period, the Bank will sell it to you at an agreed price.

Convenient and comprehensive with peace-of-mind benefits

Attractive and competitive rate, financing terms with margin of financing up to 90%*;
Convenient, with of 57 branches and service centers the nationwide;
On-line payment facility available at all branches;
Fast and friendly service with short approval time
* Terms and Conditions Apply

Financing terms

TYPE
DESCRIPTION
ELIGIBILITY
           
Individual
  • Individuals aged 18 to 55 years old. If an individual is below 21 or above 55 years old, an acceptable guarantor is required unless the approving authority is satisfied that the applicant is financially sound/creditworthy.
  • Malaysian citizen
  • Proprietorship and partnership registered in Malaysia.
Business/Corporate
  • Place of Incorporation must be in Malaysia.
Legal business with regular and sufficient income to meet current liabilities.
FINANCING TENURE
Up to 9 years
MARGIN OF FINANCE
Up to 90%
PROFIT RATE
Based on the current Bank’s prevailing rates
TYPE OF VEHICLE
     
All applications shall be guided by the following criteria:-
  • New popular vehicles
  • Unregistered reconditioned vehicles (not more than 5 years from year of manufacture)
  • Used popular vehicles (age 1 – 8 years)
DOCUMENTS REQUIRED FOR HIRE PURCHASE APPLICATION
A)  FIXED INCOME EARNER
1- INDENTIFICATION DOCUMENTS :
  • Photocopy of identity card (front & back) for applicant and guarantor(s) (if any); and
  • Photocopy of applicant’s valid driving license.
2-  INCOME DOCUMENTS :
  • Latest 3 months salary slips ; and
  • Latest 3 months’ bank statements (salary crediting a/c) ; or
  • Latest EA Form ; or
  • Latest EPF Statement ; or
  • Latest Income Tax Return/endorsed copy of e-Filing Borang BE ;  or
  • Letter of confirmation on the employment.

3-  OTHERS (if necessary) :

  • Other documents as may be deemed necessary and acceptable by the Bank for additional income support documents i.e. Amanah Saham Bumiputra (ASB), Tabung Haji, GIA/FD or other proof of net worth.
4-  TRANSACTIONAL DOCUMENTS :
  • Vehicle Sales Order (VSO);
  • Photocopy of vehicle registration card (second hand & used reconditioned) ;
  • Photocopy of seller’s IC (secondhand cars only ) ; and
  • Photocopy of AP(JK69), Custom 1, 8 & cert. of cancellation (origin country)  for Reconditioned car .

B) NON FIXED INCOME EARNER 1)  INDENTIFICATION DOCUMENTS :
Individual :
  • Photocopy of identity card (front & back) for applicant and guarantor(s) (if any) ; and
  • Photocopy of applicant’s valid driving license.
Proprietorship/Partnership (additional documents are required):
  • Photocopy of the Certificate of Business Registration and Borang D ; and
  • Photocopy of sole proprietor or partners’ identity card (front & back).
Private Limited Companies :
  • Company profile ;
  • Certified true copy of the Memorandum and Articles of Association ;
  • Certified true copy of Form 24 ;
  • Certified true copy of Form 49 ;
  • Certified true copy of the extract of the Director’s Resolution ; and
  • Photocopy of the Certificate of Incorporation (Form 9 or 13 (if any)).
2-  INCOME DOCUMENTS :
  • Letter of confirmation on the employment ;
  • Minimum 6 months latest commission statements/two (2) years annual statement (commission based income earner) ; 
  • Latest Income Tax return/ endorsed copy of e-Filing Borang BE ;
  • Latest 6 months’ bank statements ;
  • Latest Financial Accounts (if applicable) ; and
  • Latest 3 years of the Audited Accounts/Certified Account (Sdn Bhd).
3-  OTHERS (if necessary) :
  • Other documents as may be deemed necessary and acceptable by the Bank for additional income support documents i.e.  Amanah Saham Bumiputra (ASB), Tabung Haji, GIA/FD or other proof of net worth.
4-  TRANSACTIONAL DOCUMENTS :
  • Vehicle sales order ;
  • Photocopy of vehicle registration card (second hand & used reconditioned) ;
  • Photocopy of seller’s IC (secondhand cars only )  ; and
  • Photocopy of AP(JK69), Custom 1, 8 & cert. of cancellation (origin country)  for Reconditioned car.

Generally the approval is based on applicant’s personal & legal capacity, credit character, past payment patterns, & BMMB requirements. 

Application will be processed immediately and a decision will be made within (5 days) or even less if all criteria and supporting documents are submitted in full subject to terms & conditions imposed . All terms and conditions are subject to the financing guidelines by Bank Negara Malaysia and Bank Muamalat Malaysia Berhad (BMMB).

For Application enquiries please contact BMMB call centre/customer service no  1-300-88-8787

Muamalat E-Motor Takaful

Muamalat E-Motor Takaful is a simple, safe and easy to use service that allows you to subscribe to a comprehensive takaful cover for your car, at your convenience.

CODE OF ETHICS ON REPOSSESSION
KOD ETIKA BAGI PENGAMBIL SEMULA MILIK

Product Disclosure Sheet (PDS)

Muamalat Hire Purchase (AITAB)-i
Sewa Beli Muamalat (MHP)-i

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