CIMB Xpress Cash Personal Financing-I is an islamic loan from CIMB Islamic, a division of CIMB Bank Berhad which specialized in Islamic banking. As with other Islamic financing, CIMB Xpress Cash is based on Bai Al-Inah concept. This personal loan offers fixed interest rate and minimum requirement for applicant. Financing amount start from as low as RM3,000 and up to RM50,000 with flexible repayment terms.
CIMB Xpress Cash Financing-i
CIMB Xpress Cash Personal Financing-i come with several attractive features to attract potential applicant. Some of them are:
- Flexible financing amount
CIMB Xpress Cash offer flexible financing amount from RM3,000 to RM50,000.
- Flexible repayment schedule
This CIMB personal loan offer repayment plan from 12 months up to 64 months.
- Fixed profit rate
With Bai Al-Inah concept, CIMB Xpress Cash Personal Financing-i profit rate start from 18% and up to 24% per annum.
- Low monthly repayment
Monthly repayment as low as RM95 based on loan amount and loan tenure
- Flexible age requirement
CIMB Xpress Cash Personal Financing-i accept applicant from as young as 21 years old up to 60 years old.
- Minimum salary requirement
CIMB Xpress Cash minimum salary requirement start from RM800 monthly, or RM9,600 yearly.
These features make CIMB Xpress Cash personal loan as one of the best Islamic personal financing currently offered in Malaysia.
The most attractive feature of CIMB Xpress Cash Personal Financing-i is the minimum requirement, especially minimum wages and age eligibility.
- Malaysian PR
- Age between 21 and 58 years old.
- Minimum monthly income is RM800, or minimum annual income is RM9,600.
- Not blacklisted by AEON or any other banks in Malaysia.
- Not under Special Attention Account (SAA) – Pemerhatian Khas.
- Not under the Debt Management Programme by AKPK.
For private employee
- Have been working for more than 6 months with the employee.
- Able to provide 6 months or more EPF statement.
- Registered business with Suruhanjaya Syarikat Malaysia (SSM) for more than 1 year.
- Registered bank’s current account with monthly transaction more than RM5,000.
As with other bank’s personal loan in Malaysia, you will have to provide several documents to apply for CIMB Xpress Cash Personal Financing-i. The documents differ according to your career types.
If you are working in the private sector, you need to provide these documents when applying for AEON iCash.
- Original copy of NRIC.
- Latest 3 month’s salary slip (if your salary is deposit directly into a bank) or latest 6 month’s salary slip/voucher (if your salary is paid by cash or cheque).
- Latest 3 month’s salary crediting bank statement (if your salary is deposited to a bank).
- Latest EPF statement (6 months minimum)
For a business owner or self-employed, you will need to provide these documents to apply for AEON iCash.
- Original copy of NRIC.
- Company Business Registration Certificate (ROC & ROB). Registration must exceed 1 year.
- Latest 6 months company’s current account statement.
- BE/E form & Tax payment receipt.
CIMB Xpress Cash Personal Financing-i does not charge you any handling or processing fee. The only charge is 0.5% stamp duty from the whole amount of the loan.
There is also an optional choice for you to opt for Takaful Insurance that come with this personal financing plan.
However, there is a 1% charge for late payment.
You can apply for CIMB Xpress Cash Personal Financing-i from the nearest CIMB Bank branches, or any CIMB Kiosk available in Tesco throughout Malaysia.
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CIMB Xpress Cash Financing-i Review
CIMB Xpress Cash Personal Financing-i is an attractive personal loan plan from CIMB Islamic. Although the interest rate is a bit high compared to other personal financing plans in Malaysia, the minimum requirements and the high approval rate outweigh this shortcoming. This personal loan is suitable if you are looking for a quick cash and are able to choose shorter settlement terms.
- Low minimum salary requirement.
- Fixed profit rate.
- High profit rate.
- Short financing tenure.
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