For those who self-employed, you should take a look into Maybank Islamic Mikro. I mean the financing amount is from RM3,000 to RM50,000 max. It has installment period of up to 5 years.
– Financing amount RM 3,000 to RM 20,000 (11% p.a. fixed rate)
– Financing amount RM 20,001 to RM 50,000 (10% p.a. fixed rate)
Islamic concepts employed for this scheme are:
– Bai’ Inah (Sale and buy back)
For micro enterprise:
– Bai’ Bithaman Ajil (Deferred Payment Sale)
– Musharakah Mutanaqisah (Diminishing Partnership)
– Murabahah (Cost plus sale)
If you want to look if you are eligible or not, look below:
The self employed must follow these criteria: –
All Malaysian Citizen aged between 21 t o 60 years old
1. Self-employed with valid business license/ permit
2. Business must be owner operated and on full time basis
3. At least 2 years business experience.
4. No negative personal financing records, i.e. CCRIS, bankruptcy etc.
For micro enterprise, you need to follow these criteria: –
1. Companies registered with Companies Commission of Malaysia
2. Business must be in operation for at least 2 years
3. Business must comply with the NSDC’s SME ‘micro’ definition: –
a) Less than 5 full-time employees
b) Annual Sales Turnover less than RM 200,000 for micro enterprises in primary agriculture and service sector
c) Annual Sales Turnover less than RM 250,000 for micro enterprises in manufacturing.
d) No negative business financing records, i.e. CCRIS, bankruptcy etc.
For more information, you can call Maybank’s customer care at 1300 88 6688 or visit Maybank2u website for more info.