Putting the Personal back into Personal Financing!

KOWAMAS is an Islamic Personal Term Financing under the Syariah principle of Bai' 'Inah (sale with immediate repurchase). Bai' 'Inah is a buy and sell contract whereby Maybank Islamic (the Bank) would sell its assets to the applicant on deferred payment basis. Subsequently, Maybank Islamic (the Bank) would buy back the same asset from the applicant at a lower price on cash basis.

Under Bai' 'Inah concept, Maybank will use its asset as an underlying asset for the sale and purchase transactions.

The personal financing package offered to the confirmed government employees/state government statutory bodies through Co-operative (Kowamas) with the payment being deducted from their salary.

Purpose:

• Debt Consolidation
• Emergency Needs
• Educational
• Home Improvement
• Medical
• Others

Features & Benefits:

• Term financing on monthly rest under Islamic Bai' 'Inah concept.
• Profit Rate:
  • 1 – 2 years : 4.99%
  • 3 – 10 years : 5.50%
  • 11 – 15 years : 5.70%
  • 16 – 20 years : 5.90%
• Minimum financing amount of RM1,000 and up to maximum of RM150,000*
• Financing tenure from 2 years up to 20 years
• Margin of Payment : Maximum up to 60% of basic salary (inclusive of basic allowance) or allowable by employer and Biro Perkhidmatan Angkasa
• No Collaterals
• Etiqa Takaful Coverage (Death and Disability)
• Monthly payment via salary deduction at source through Biro Perkhidmatan Angkasa (BPA)

Who can apply

• Age 18 to 58 years old
• Malaysian citizen
• Confirmed government employee / state government statutory bodies

Charges

One time charges to be deducted upfront from financing amount upon disbursement. The charges are as follows:

Entrance Fee	: RM50
Monthly Fee	: RM30
Processing Fee	: RM100
Takaful	: According to scale (2%)
Sinking Fund	: 2%
Stamp Duty	: RM10
BPA Charge	: 0.60%
Share	: RM200
Advance Member Fee (RM30 x 6 months)	: RM180

Required Documents

For application, please visit any Maybank Islamic or Maybank branches and bring along the following:

• Photocopy of Identity Card (Duly certified by Employer)
• Copy of 3 months salary slip (Original for latest month and Duly certified
  by Employer )
• Permohonan Keanggotaan Koperasi
• Borang Permohonan Pembiayaan Peribadi e-wawasan dan Pra Kelulusan
• Pengesahan Jawatan
• Borang Penentuan Had Kelayakan Pinjaman
• Perjanjian Pembelian Aset
• Perjanjian Penjualan Aset
• Arahan Penyelesaian Penuh Baki Pinjaman
• Kebenaran Menolak Pembayaran Kos Pembiayaan
• Perlantikan Wakil Bagi Menyempurkan Akad
• Surat Tawaran Pembiayaan Peribadi e-wawasan
• Borang BPA 1/79

*Terms and conditions apply