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Muamalat Vehicle Financing-i (AITAB)

Your choice for Shariah compliant and hassle-free vehicle financing. Enjoy up to 90% financing on your vehicle purchase with the security of our flat rates.

Muamalat Vehicle Financing-i (AITAB)

Your choice for Shariah compliant and hassle-free vehicle financing. Enjoy up to 90% financing on your vehicle purchase with the security of our flat rates.

Muamalat Vehicle Financing-i (AITAB)

We offer vehicle financing facilities tailored to your specific needs!

This product is structured based on Shariah contract of Al-Ijarah Thumma Al-Bai’ (AITAB). AITAB is an arrangement of primary Ijarah (lease contract) with Bai’ (sale contract).

Your choice for Shariah compliant and hassle-free vehicle financing. Enjoy up to 90% financing on your vehicle purchase with the security of our flat rates.

 

Package

Standard Vehicle Financing Package

 

Eligibility of Customer

Minimum Monthly Gross Income:

  • RM 2,300 (New National Car)
  • RM 2,500 (New Non–National & Used Car)
  • RM 5,000 (Unregistered Reconditioned Car)

Age of entry:

  • Minimum of 18 years old and maximum of 65 years old (must not exceed age 70 years old upon maturity)

Nationality:

  • Open to Malaysians and foreigners

 

Margin of Financing

90%

 

Types of Car

New, Used and Unregistered Reconditioned car

 

Financing Tenure

Up to 9 years

 

Profit Rate

Flat Rate

 

Minimum Documents Required

  • Photocopy of MyKad (front and back)
  • Photocopy of Passport (foreigners)
  • Photocopy of Driving License (front and back)
  • Latest 3 month’s salary slip
  • Latest 3 month’s bank statement

*Note: BMMB reserves the rights to request for additional documents

Calculator

Product Disclosure Sheet

*Terms and conditions apply.

FAQs about Bank Muamalat's Vehicle Financing-i

Bank Muamalat’s Vehicle Financing-i is based on Islamic principles and Shariah law, which prohibits interest (riba). Unlike conventional financing, which charges interest on the loan amount, Bank Muamalat’s Vehicle Financing-i operates under Shariah contracts such as Ijarah (lease) and Bai’ (sale contract).  

If you fully settle your Vehicle Financing-i before its maturity, the bank will grant Ibra’ or a rebate to you. The exact rebate will be calculated based on the terms of your financing agreement.

Yes, you can apply Bank Muamalat’s Vehicle Financing-i online. If you need assistance with your application or require additional information, please contact our customer service team for support.

The processing time for Bank Muamalat’s Vehicle Financing-i application typically ranges from a few days to a few weeks, depending on the completeness of your application and the required documentation. You will be informed of the status of your application and any additional steps required.

Yes, Takaful coverage is required for Bank Muamalat’s Vehicle Financing-i. Takaful is an Islamic insurance that provides protection against loss or damage to the vehicle. It ensures coverage for your outstanding financing during the term of the financing and offers protection in case of unforeseen circumstances.

The standard profit rate for Bank Muamalat’s Vehicle Financing-i is based on a flat rate. This means that the profit rate is calculated as a fixed percentage of the original financing amount throughout the term of the financing. To determine the exact profit rate applicable to your vehicle financing-i, you can contact our customer service team for detailed information.

You might also be interested in

Muamalat Vehicle Financing-i (MPO)
Muamalat Auto-Grad Scheme
Muamalat Step-Up Auto Financing-i
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2024-11-08 09:17:42