Bank Muamalat 1Malaysia
 
   
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Financing
Muamalat Cash Line Facility-i (MCash)
Click on the list below to see more Financing products:
Muamalat BizSTAR-i is a financing package based on Shariah concept of Tawarruq with combination of Property Financing-i Tawarruq & MCash-i products. This product packaged is designed to cater for finance/refinancing the purchase of business premises and to provide cash financing to customer for Business Banking and SME Retail Business.

Objective

To address the property and expansion needs of business;
To realize the Government aspiration on the SME needs for better funding mechanism and assistance to optimise the business contribution to the economy.

Features

Financing Limit
(i) Package A: RM500,000 to RM5.0 million
(ii) Package B: RM300,000 to RM499,999
(iii) Package C: RM150,000 t0 RM299,999

Note: The above packages will be differentiated based on the property value and the pricing capped up to RM5.0 million per customer.
Margin of Financing (MOF)
Maximum up to 105% against Open Market Value (OMV) or Sale & Purchase Agreement (SPA) (whichever is lower):

By Products
Maximum MOF
Property Financing-i
90%
MCash-i
10% or up to RM1.0mil

Moving Cost & Related Expenses (MCRE)*
5%
Total
105%

*MCRE:
Mortgage Reducing Term Takaful & Credit Level Term Takaful
Legal Cost
Valuation Cost

Tenure of Financing
(i) Property Financing-i: Maximum up to 15 years
(ii) MCash-i: Up to 5 years with option to renew and subject to periodic review.
Profit Rate
Property Financing-i:
(i) Package A: BFR – 2.00%
(ii) Package B: BFR – 1.90%
(iii) Package C: BFR – 1.80%

MCash-i:
BFR + 1.75%

Note: Rate reduction of 0.1% is entitled for Customer who opts for MRTT.

Benefits

The Bank at its discretion may grant Ibra´ or rebate on any unutilised financing amount.
The Ta’widh (compensation) amount shall not be compounded on the overdue instalment or outstanding principal amount.

Target Customers

New and existing customer of the Bank under Business Banking and SME Retail Business segments subject to the following conditions:

Minimum 3 years in related business operation* ;
No adverse remarks on CTOS;
No adverse remarks on CCRIS;

Note:
* Submission of latest past 3 years Audited Account is compulsory.
* Latest audited account shall not exceed 12 months from the date of application.

Fees and Charges

Processing Fee : Waived
Brokerage Fee: 50% of brokerage fee via Bursa. The fee is RM15.00 per million (not applicable for SME Retail Business customers).
Stamp Duty (as per the Stamp Duty Act 1949 (Revised 1989): Ad valorem stamp duty shall be borne by customer.
20% of stamp duty remission for principal document based on Shariah principles.

For further information, kindly click the Product Disclosure Sheet
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