Superbike Financing-i is based on Murabahah (Murabahah to the Purchase Orderer “MPO”), to facilitate your needs towards your lifestyle.
|Margin of Financing
||Up to 70% of the OTR price for new motorcycles fully imported / local assemble and unregistered reconditioned (less than 3 years)
| Financing Tenure
||Up to 7 years
||Please refer to our nearest Automobile Financing Centres for the latest rates offered
- Individual not exceeding the 60 years at the end of payment period
- Malaysian citizen
- Fixed income earner
- Government and Semi Government sector
- Selected Public Listed Companies
- Government Link Companies (GLC)
- Other prominent Private Limited Companies as categorized under package companies listed by Bank Islam
- Photocopy of Identity Card (front and back)
- Photocopy of Valid Driving License
- Photocopy of Latest 3 months Salary Slip; and
- Copies of latest 3 months Bank Statement (Salary Crediting Account); or
- Latest EPF Statements/EA Forms
- Other Supporting Documents as may deemed necessary and acceptable by the Bank for additional income
- Competitive Rates Offered
- Selling Price fixed and known
- No hidden or extra charges imposed
- Ibra’ (Rebate) on full settlement of the financing before its maturity
- Fast Approval
- It is hereby agreed that the Customer shall pay the Bank late payment charges by way of Ta’widh (Compensation) as follows:
- Before maturity of the Facility:
A sum equivalent to one per centum (1%) per annum on overdue instalment(s) until date of full payment;
- After maturity of the Facility:
A sum equivalent to the prevailing daily overnight Islamic Interbank Money Market Rate on outstanding balance i.e outstanding Selling Price less Ibra’ (if any;
- Post Judgement Debt:
A sum equivalent to the prevailing daily overnight Islamic Interbank Money Market Rate on basic judgement date until date of full payment
PROVIDED ALWAYS that the above said ta’widh (compensation) rates may be varied by Bank Negara Malaysia (BNM) from time to time and shall be applied in such manner as approved by BNM.
- Approval is based on the applicant’s personal and legal capacity, credit character, past payment patterns, and Bank Islam Malaysia Berhad (Bank Islam) requirements.
- Application shall be processes within the acceptable turn-around time if all documents required are submitted in full subject to terms and conditioned imposed.
- All terms and conditions are subject to the financing guidelines by Bank Negara Malaysia and Bank Islam Malaysia Berhad.
* Terms and conditions apply