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 salary)
  • Certain company must have verification letter (with letter head) addressed to Al Rajhi 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 - must be endorsed by company
    2. 2 copies of NRIC (both side) - must be endorsed by company
    3. Utility Bill (If the current address doesn't tally with the address in the NRIC) - must be endorsed by company
    4. Reference letter from HR (if applicable)
    5. Bank statement showing latest 3 months income credited into bank account (must be endorsed by bank's officer including the bank's name and bank's official stamped.)
    6. Supporting Document (if applicable):
      1. Rental Proceeds (Property):
        1. Stamped tenancy agreement valid for at least 6 months.
        2. Latest personal bank statements showing latest 3 consecutive
  • IMPORTANT: Endorsement by company must be done by HR/Finance/Admin/Branch/Dept/Div head with company's stamp with address, name, signature and designation

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 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. 2 copies of NRIC (both side)
  2. Business registration
  3. 6 months business bank statement (must endorse by bank's officer including the bank's name and bank's official stamped.)
  4. Form B (Personal Income Tax Declaration)
  5. Receipt of Tax Payment as proof
  6. Utility Bill (if the current address doesn't tally with the address in the NRIC)
  7. Supporting Document (if applicable):
    • 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 Fee: Waived
  • Deduction:
    • Processing Fee: NIL
    • Stamp Duty on:
      1. Master Commodity Sale Agreement - Ad Valorem (0.5% of the total financing amount)
      2. Letter of Offer - RM 10.00
      3. Letter of Set Off - RM 20.00
      4. Memorandum of Deposit - RM 30.00
      5. Power of Attorney - RM 30.00
      6. Folio (6 pages X RM2.00) - RM 12.00
      7. Court Registration - RM 10.00
      8. Attestation - RM 20.00
      9. Revocation of PA - RM 36.00
    • Actual cost incurred (payable to commodity supplier):
      1. BURSA Transaction Fee
      2. Transfer of Ownership Fee (for Steamcoal)
    • Optional
      1. Takaful (depends on the amount financing, tenure and age)
      2. 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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