Maybank is having a new financing facility called AHB Financing-i. It provides financing for the purchase of Amanah Hartanah Bumiputera (AHB) unit trusts. It is an Islamic loan based on the Shariah principles of Bai’ ‘Inah (sale with immediate repurchase).
Below are the details on AHB Financing-i,
- Individuals age 18 years up to 59 years old
- Malaysian Residents
- Min financing amount : RM10,000
- Max financing amount : RM200,000
Margin of Financing
- Up to 105%
100% of nominal value of unit trust
5% on GRTT (premium capitalization)
- Payment period of up to 25 years or up to the age of 60
- Effective Rate at BFR – 1.65% throughout financing tenure.
- Selling Price Rate/Ceiling Rate fixed at BLR + 4.0% or 10%, whichever is higher
- Single monthly payment via Standing Instruction (SI)
- Application form
- Certified True Copy of Identity Card (both sides)
- Photocopy of latest 3 months’ pay slip (for financing above RM50,000)
At the current BFR rate of 6.35%, the effective rate is 4.7%. AHB expected to give about 6% return per year. The different is only 1.3% and when BFR increase further the gain will reduce again.
More details are available in Maybank website.
What do you think about AHB-i?