MBSB Bank Mumtaz-i Personal Financing

MBSB Bank Berhad


Financing Amount: RM3000 – RM250000
Financing Tenure: 2 to 10 Years
Profit Rate: 3.4% p.a – 3.8% p.a
Loan Features: Debt Consolidation, Fast Approval, Islamic, Unsecured
Employment: GLC Employee, Government Employee
Minimum Yearly Income: RM36000
Age Eligibility: 19 to 60 Years Old
Debt Consolidation: Yes
MBSB Bank Mumtaz-i Personal Financing

MBSB Bank Mumtaz-i is an unsecured Islamic personal loan by MBSB Bank Berhad targeted at public sector or government servant. This Shariah compliant personal financing solutions offer several attractive features that set it apart from the rest of personal loan in Malaysia. This loan is offered to government servant and selected companies having salary deduction arrangement with the bank. With financing amount of up to RM250,000 and financing tenure up to 10 years, MBSB Mumtaz-i is one an attractive Islamic personal financing plan in Malaysia.

MBSB Bank Mumtaz-i Personal Financing Features

Some of the features offered by MBSB Bank Berhad through their MBSB personal loan Mumtaz-i includes:

  • Flexible financing amount
    Financing amount start from RM50,000 to RM250,000.
  • Flexible financing tenure
    Financing tenure for MBSB Mumtaz-i start from 2 years up to 10 years.
  • Variable profit rates
    MBSB Mumtaz-i has a variable profit rate from 3.40% to 3.80% p.a.
  • Fast Approval
    Mumtaz-i personal loan only takes 1 business day to process and approved.
  • No processing fee and stamp duty charge
    Unlike other bank personal loan in Malaysia, MBSB will not charge any processing fee or stamp duty upon loan approval.
  • No early settlement charges
    There is no early settlement charges if you decide to pay the full amount earlier than the agreed tenure.
  • Optional Takaful coverage
    Unlike some Islamic personal loan that force you to subscribe to Takaful coverage, in MBSB Mumtaz-i, Takaful coverage is optional.
  • Salary deduction
    Salary deduction is via Biro Angkasa, Accountant General (AG) or employer salary deduction.

Requirements & Eligibility

Below are the requirements for MBSB Mumtaz-i Personal Financing.

  • Age between 19 years old and not exceeding 60 years old upon expiry of the agreement, or optional retirement age.
  • Permanent employee of Government, GLCs, local councils or selected companies.
  • A confirmed and permanent staff that have been 12 months in service.
  • Minimum income is RM3,000 per month or RM36,000 per year.

Not eligible to apply?

If you didn't meet the requirements to apply, you can use our "Check Eligibity Form" to find the best personal financing plan for you.

Documents Needed

Since MBSB Mumtaz-i is only for a government employee, the applicant will have to provide additional documents for application. Below are the documents required to apply for MBSB Mumtaz-i personal loan.

  1. Copy of NRIC (front and back) with original Certified True Copy (CTC).
  2. Latest 3 months salary slips.
  3. Latest 3 months bank account statement (savings or current).
  4. Certification letter by Head of Department.
  5. Confirmation letter on retirement age.
  6. Form T228 (for Sarawak government servant).
  7. Redemption letter for loan overlap (optional).

Repayment Schedule/Table

We are still updating the installment/repayment table for MBSB Bank Mumtaz-i Personal Financing. Sorry for the inconvenience.

Charges & Fees

As have been stated earlier, MBSB does not impose any processing fee and stamp duty for this loan. However, there will be a handling fee for disbursement, which RM34.

There are also late payment charges for any amounts in arrears, 1% p.a.

How to Apply

Important!

Before applying, make sure you have read the Requirements & Eligibility section above. There's no point in applying if you are not eligible to apply for this loan.

You can apply for MBSB Bank Mumtaz-i Personal Financing by visiting any of MBSB Bank Berhad branch.

You can also apply online from the comfort of your home or office using RinggitPlus service. It’s free and in some cases you will get quicker result with higher approval rate. Read more below.

Apply MBSB Bank Mumtaz-i Personal Financing with RinggitPlus

Do you know you can apply MBSB Bank Mumtaz-i Personal Financing through RinggitPlus? The process is 100% online without you having to leave your office or home.

Just submit your name, phone number and RinggitPlus will call you within 24 hours and guide you step by step through the application process. And their service are 100% Free of Charge.

If you would like a hassle-free MBSB Bank Mumtaz-i Personal Financing application, give RinggitPlus a try. Click APPLY NOW button and apply for MBSB Bank Mumtaz-i Personal Financing through RinggitPlus right now.

You will be redirected to RinggitPlus website. On the website, click Apply Now to proceed with your application.

MBSB Bank Mumtaz-i Personal Financing Review

MBSB Mumtaz-i is one of the personal financing plans from MBSB Bank Berhad. Being an unsecured Islamic personal loan, MBSB Mumtaz-i comes with variable profit rate and optional Takaful coverage. The requirement of RM3,000 monthly minimum wages is a bit high for most. However, the high financing amount of up to RM250,000 with 10 years financing tenure will help a lot. In conclusion, MBSB Mumtaz-i personal financing brings another option for civil servant looking for fast approval personal financing.

MBSB Bank Mumtaz-i Personal Financing

Pros

  • High financing amount up to RM250,000
  • Long financing tenure up to 10 years
  • Salary deduction for easier payment
  • No processing fee early settlement fee
  • No stamp duty charges

Cons

  • High minimum salary requirement
  • Minimum financing only start from RM3,000

Our Rating

3.8

Out of 5

Frequently Ask Questions on MBSB Bank Mumtaz-i Personal Financing

Below are some of the frequently ask question regarding MBSB Bank Mumtaz-i Personal Financing

What is MBSB Bank Mumtaz-i Personal Financing?

MBSB Bank Mumtaz-i Personal Financing an Islamic Personal Financing plan from MBSB Bank Berhad.

Who can apply for MBSB Bank Mumtaz-i Personal Financing?

MBSB Bank Mumtaz-i Personal Financing is offered to Malaysian Citizen aged between 19 and 60, working in the Public Sector with a minimum annual income of RM36000. Please refer to the “Requirements and Eligibility section” for the complete requirements.

How much can I borrow from MBSB Bank Mumtaz-i Personal Financing?

You can borrow from RM3000 up to RM250000. However, final approval amount will depends on several factor such as your income, credit score, etc.

How long is the financing tenure?

MBSB Bank Mumtaz-i Personal Financing offer a financing tenure from 2 to 10 years. However, maximum financing tenure will depends on MBSB Bank Berhad final decision.

How can I apply for MBSB Bank Mumtaz-i Personal Financing?

Please refer to the “How to Apply Section” above.

How long do I have to wait for result?

Usually you will get your MBSB Bank Mumtaz-i Personal Financing application’s result in 1 business day after you have submitted the required documents.

How much do I have to pay every month?

Please refer to the “Loan Repayment Schedule” above.

Can I apply MBSB Bank Mumtaz-i Personal Financing for Debt Consolidation?

Yes, you can apply this loan for debt consolidation. Please consult directly with MBSB Bank Berhad or use RinggitPlus service on how to apply for debt consolidation.

Can I apply if I am blacklisted in my CTOS report?

Sorry, you can’t apply for MBSB Bank Mumtaz-i Personal Financing if you are blacklisted in your CTOS report. However, if you are blacklisted by non-financial institution such as telecommunication companies, easy payment scheme, etc, you are eligible to apply.

Can I apply if I have a bad credit score in my CCRIS report?

Sorry, you are not eligible to apply for MBSB Bank Mumtaz-i Personal Financing if you have outstanding credit in your CCRIS report.

Can I apply if I’m under AKPK Debt Management Programme?

Unfortunately no. You cannot apply any bank loans if you are under the AKPK Debt Management Programme.

I have other questions regarding MBSB Bank Mumtaz-i Personal Financing

Please leave your question in the comment section below. We will reply to them as soon as possible.

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