Al Rajhi - Mass Market

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Contents

Product Criteria

  • Interest Rate :

Target Market

  • Applicants without potongan biro are allowed to apply under this package.
  • Self-employed / Own business
  • Direct Sales
  • Commission Earners
  • Insurance Agents

Al Rajhi Approved Employer

AEL (Approved Employment Listing)

  • Needs only 1 month payslip
  • Payslip condition must be carbonite / logo(payslip photocopy)
  • Bank statement(must have pengesahan from bank officer)
  • Payslip without logo - perlu disahkan oleh HR(copy perlu ada 1)nama pic 2)Jawatan 3)nama company/alamat)

EEL (E Employment Listing)

  • Do not need to have pengesahan jawatan.
  • Foreigner can apply - gaji must be RM15k and above.

Sdn Bhd Company

  • Needs 3 month payslip
  • Needs 3 months bank statement(to show gaji)
  • Certain Company must have verification letter(with letter head) address under Alrajhi Bank

Employment Status A - GENERIC (employee)

  • Normal Rate: 7.25%
  • High Income Rate: 6.50% (Income more than RM10,000)
  • Financing Amount: RM2,000 - RM15,000(MAX)
  • Financing Limit: 5 times salary or customers eligibility & entitlement whichever is lower
  • Financing Tenure: 2-5 years
  • Age:
    • Min 21 years old based on year of Birth
    • Max 55 years old
  • Employment Status: Permanent
  • Employment Length: Minimum 1 year
  • Processing Fee: Waived
  • Deduction:
    • Transfer Of Ownership: Max RM15 or 0.015 cents PER RM1,000
    • Stamp Duty: Min RM10 or 0.5% whichever is higher
    • Takaful: Takaful Coverage
  • Installment Payment: Auto Debit (IBG) or pay over the counter
  • Nationality: Malaysia residents with a local residential & local correspondence address
  • DOCUMENTATION:
  1. Latest 3 month payslip
  2. 2 copies of NRIC (both side)
  3. Utility Bill -If the current address doesn't tally with the address in the NRIC-Items 1,2&3 (All documents must endorse by HR/Finance/Admin/Branch/Dept-Div Head and endorsement must have company's stamp with address,name,signature and designation)
  4. Reference letter from HR (if necessary)
  5. Bank statement showing latest 3 months income credited into bank account (must endorse by bank's officer including the bank's name and bank's official stamped.)
  • Supporting Document (If necessary):

a) Rental Proceeds (Property):

    • Stamped tenancy agreement valid for at least 6 months.
    • Latest personal bank statements showing latest 3 consecutive

Employment Status B - GENERIC (Self Employed)

  • Rate  : 7.25%
  • Financing Amount  : RM2,000 - RM10,000(MAX)
  • Financing Limit  : 5 times salary or customers eligibility & entitlement whichever is lower
  • Financing Tenure  : 2-5 years
  • Age  :
    • Min 21 years old based on year of Birth
    • Max 55 years old
  • Employment Status  : Permanent
  • Employment Length  : Minimum 1 year
  • Processing Fess  : Waived
  • Deduction:
    • Transfer Of Ownership : Max RM15 or 0.015 cents PER RM1,000
    • Stamp Duty  : Min RM10 or 0.5% whichever is higher
    • Takaful  : Takaful Coverage
  • Installment Payment  : Auto Debit (IBG) or pay over the counter
  • Nationality  : Malaysia residents with a local residential & local correspondence address
  • DOCUMENTATION:
  1. 2 copies of NRIC (both side)
      • Business registration
    • 6 months business bank statement (must endorse by bank's officer including the bank's name and bank's official stamped.)
    • Form B (Personal Income Tax Declaration)
    • Receipt of Tax Payment as proof
  1. Utility Bill - If the current address doesn't tally with the address in the NRIC.
  • Supporting Document (If necessary):

a) Rental Proceeds (Property):

    • Stamped tenancy agreement valid for at least 6 months.
    • Latest personal bank statements showing latest 3 consecutive

Employment Status C - GENERIC (PF-FI)

  • Rate  : 6.99%
  • Profit Return  : 3.00% (INDICATIVE)
  • Financing Amount  : RM5,000 - RM15,000(MAX)
  • Financing Limit  : Up to Max mof 95%
  • Financing Tenure  : 1-7 years
  • Security  : Fixed investment(FI) / CASA(Deposit)
  • Age  :
    • Min 21 years old based on Year of Birth
    • Max 65 years old (based on year of birth;age at the end of financing should not more than 60 years old) (PF secured FI<65 years old)
  • Employment Status  : Permanent
  • Employment Length  : Minimum 1 year
  • Processing Fess  : Waived
  • Deduction:
    • Processing Fee  : NIL
    • Stamp Duty on  : 
 a) Master Commodity Sale Agreement - Ad velorem(currently is 0.5% of the total financing amount)
 b) Letter of Offer                 -RM 10.00
 c) Letter of Set Off               -RM 20.00
 d) Memorandum of Deposit           -RM 30.00
 e) Power of Attorney               -RM 30.00
 f) Folio (6 pages X RM2.00)        -RM 12.00
 g) Court Registration              -RM 10.00
 h) Attestation                     -RM 20.00
 i) Revocation of PA                -RM 36.00
    • Actual cost incurred (payable to commodity supplier) :

a) BURSA Transaction Fee b) Transfer of Ownership Fee (for Steamcoal)

    • Optional

a) Takaful (depends on the amount financing, tenure and age) b) Standard Will Writing -RM 350.00

  • Installment Payment  : Auto Debit (IBG) or pay over the counter
  • Nationality  : Malaysia Citizens / PR Holders
  • DOCUMENTATION:
  1. 2 copies of NRIC (both side)

Employment Status D - GENERIC (Target Segment)

  • Rate  :
    • 2-5 years (7.25%)
    • 6-7 years up to (11.99%)
  • Financing Amount  : RM2,000 - RM15,000(MAX)
  • Financing Limit  : 5 times salary or customers eligibility & entitlement whichever is lower
  • Financing Tenure  : 2-7 years
  • Age  :
    • Min 21 years old based on year of Birth
    • Max 55 years old
  • Employment Status  : Permanent
  • Employment Length  : Minimum 1 year
  • Processing Fess  : Waived
  • Deduction:
    • Transfer Of Ownership : Max RM15 or 0.015 cents PER RM1,000
    • Stamp Duty  : Min RM10 or 0.5% whichever is higher
    • Takaful  : Takaful Coverage
  • Installment Payment  : Auto Debit (IBG) or pay over the counter
  • Nationality  : Malaysia residents with a local residential & local correspondence address
  • DOCUMENTATION:
  1. Latest 1 month payslip
  2. 1 copies of NRIC (both side)
  3. Utility Bill -If the current address doesn't tally with the address in the NRIC-Items 1,2&3 (All documents must endorse by HR/Finance/Admin/Branch/Dept-Div Head and endorsement must have company's stamp with address,name,signature and designation)
  4. Reference letter from HR (if necessary)
  5. Bank statement showing latest 3 months income credited into bank account (must endorse by bank's officer including the bank's name and bank's official stamped.)
  • Supporting Document (If necessary):

a) Rental Proceeds (Property):

    • Stamped tenancy agreement valid for at least 6 months.
    • Latest personal bank statements showing latest 3 consecutive

Employment Status E - GENERIC (BALANCE TRANSFER)

  • Rate  : 7.25% (Income more than 10K-rate:6.5%)
  • Financing Amount  : RM2,000 - RM15,000(MAX)
  • Financing Limit  : 5 times salary or customers eligibility & entitlement whichever is lower
  • Financing Tenure  : 2-5 years
  • Age  :
    • Min 21 years old based on year of Birth
    • Max 55 years old
  • Employment Status  : Permanent
  • Employment Length  : Minimum 1 year
  • Processing Fess  : Waived
  • Deduction:
    • Transfer Of Ownership : Max RM15 or 0.015 cents PER RM1,000
    • Stamp Duty  : Min RM10 or 0.5% whichever is higher
    • Takaful  : Takaful Coverage
  • Installment Payment  : Auto Debit or pay over the counter
  • Nationality  : Malaysia residents with a local residential & local correspondence address
  • DOCUMENTATION:
  1. Latest Credit Card Statement
  2. 2 copies of NRIC (both side)
  3. Utility Bill -If the current address doesn't tally with the address in the NRIC-Items 1,2&3 (All documents must endorse by HR/Finance/Admin/Branch/Dept-Div Head and endorsement must have company's stamp with address,name,signature and designation)
  4. Bank statement showing latest 3 months income credited into bank account (must endorse by bank's officer including the bank's name and bank's official stamped.)
  • Supporting Document (If necessary):

a) Rental Proceeds (Property):

    • Stamped tenancy agreement valid for at least 6 months.
    • Latest personal bank statements showing latest 3 consecutive

Employment Status F - CCSP-SD (Joint Value)

  • Rate  :
    • 2-3 years -3.25%
    • 4-5 years -4.25%
    • 6-10 years -4.75%
    • 11-15years -4.95%
  • Financing Amount  : RM2,000 - RM15,000(MAX)
  • Financing Limit  : 26 times salary or customers eligibility & entitlement whichever is lower
  • Financing Tenure  : 2-15 years
  • Age  :
    • Min 21 years old based on year of Birth
    • Max 55 years old or up to retirement age
  • Employment Status  : Permanent
  • Employment Length  : Minimum 1 year
  • Processing Fess  : Waived
  • Deduction:
    • Transfer Of Ownership : Max RM15 or 0.015 cents PER RM1,000
    • Stamp Duty  : Min RM10 or 0.5% whichever is higher
    • Takaful  : Takaful Coverage
  • Installment Payment  : Direct salary deduction from company's
  • Nationality  : Malaysia residents with a local residential & local correspondence address
  • DOCUMENTATION:
  1. Application Form - Employee to complete application form & submit to ARBM Sales Representatives
  2. 2 copies of NRIC -(both side) with original sighted by ABRM representative
  3. Salary Slip - most recent salary slip duly endorsed by Company's Human Resources(HR)
  4. Employment Confirmation - Confirmation from HR on employee's salary & employment status via HR confirmation letter
  5. Letter of Authorization - Authorization from Employee to ARBM & Company's HR to allow Employer to deduct Employee's monthly salary for installment payment
  6. Additional Documents -
    • Irrevocable instructions
    • Letter of Acknowledgement & consent
    • Staff Confirmation
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