KOPERASI KONSUMER MALAYSIA BERHAD (KKMB)
TERMS AND CONDITIONS FOR ISLAMIC FINANCING FACILITY (BANK RAKYAT)
1. MAXIMUM FINANCING AMOUNT
• Maximum financing amount per applicant shall not be more than RM 200,000.00.
2. MINIMUM FINANCING AMOUNT
• Minimum financing amount per applicant shall not be less than RM 2,000.00.
|SALARY ENTITLEMENT||FINANCING AMOUNT|
|Minimum gross salary of RM 1,500.00
(shall be varied by the Koperasi from time to time)
|RM 2,000.00 – RM 200,000.00|
|FINANCING AMOUNT||TERM OF FINANCING|
|RM 2,000.00 – RM 200,000.00||Minimum 24 months
Maximum 120 months
5. The applicant must be a member one month before applying for the loan. The membership fee of RM 100.00 and entrance fee of RM 20.00 to be paid by the applicant.
6. No guarantor is needed for Islamic financing facility, however KKMB reserves the right to request for an eligible guarantor if required.
7. Must be government servant whose service is more than one year.
In the case of a government servant whose service is less than 1 year, KKMB reserves the right to request for an eligible guarantor if required.
8. Age 20 years and above and shall not exceed the age of 59 years at the maturity of the loan facility granted.
9. Deduction limit shall be 60% of the gross salary inclusive of the intended installment amount. However this is subject to the confirmation of the Payroll or Human Resource Unit of the respective department.
10. Profit Rate
- – West Malaysia – 8.5% per annum
- – East Malaysia – 9.5% per annum
11. RM 30.00 per month as subscription (yuran) in addition to the monthly installment to be deducted from the individual member’s salary until the settlement of financing facility.
12. All applicants to open saving account with Bank Rakyat
13. DOCUMENTS NEEDED – AS PER THE DOCUMENT CHECKLIST
- 3 copies of photostat I/C certified by own employer.
- 1 month original and a photocopy of latest payslip certified by the officer in charge of payroll unit only.
- 1 copy of photostat birth certificate / confirmation of date of birth (PDRM only) certified by own employer.
- Utility bills – electric bills / telephone bills, etc (confirmation of address).
- Photocopy of bank account book – Bank Rakyat account only.
14. MODE OF PAYMENT
Through Biro Perkhidmatan Angkasa deduction. All BPA 1/79 (Angkasa deduction form) to be signed by the authorized personnels only.
N.B : The Marketing Personnels to confirm with KKMB in case of any clarification on the authorized signatories of the respective government department.
15. FEES AND CHARGES
The following fees and charges to be deducted from the member’s disbursement.
|a.||Takaful premium||– as per takaful premium table|
|b.||Processing Fee + GST||– RM 100.00 + RM 6.00|
|c.||Monthly subscription||– RM 180.00 (RM 30.00 x 6 months)|
|d.||3 months upfront installments||– Actual amount|
|e.||Sinking Fund / Stamp duty||– 2.5% + RM 10.00 (for a copy)|
16. All terms and conditions are subject to change and shall be communicated in writing.
The above terms and conditions were approved by the board at its meeting held on 23/06/2016.