Fees and Charges
-
Stamp duty: RM5 for every RM1,000 of the loan / financing amount
-
Insurance / Takaful add on
The charges will be deducted from the financing amount.
Eligibility
-
Malaysian citizen.
-
Minimum monthly salary of RM3,000 (inclusive of fixed allowances).
-
Age 21 to 58 years old.
-
Confirmed and permanent employees of the selected Government Link Companies (GLC), Top Tier Corporations (TTC) & Large Enterprise Companies (LEC)
How to apply
Step 1: Download and fill up the Salary Loan/Financing Application Form
Step 2: Prepare the Required Documents
-
Copy of NRIC of applicant
-
Latest 3 months’ salary slips
-
Latest 3 months’ bank statement/EPF statement/EA/BE form
-
Employer’s confirmation letter
-
Redemption Statement from other Financial Institution (if applicable) **
**Redemption Statement is a statement or redemption letter is essentially a legal document that lays out the exact amount that you need to pay the bank.
Step 3: Submit completed application form and required documents to the nearest Maybank branch.
All applications for Salary Loan/Financing are subject to Maybank’s credit assessment, approval and other applicable terms and conditions.
Features
Attractive interest/financing rates as low as 5.50% p.a exclusively for employees of selected Government Link Companies (GLC), Top Tier Corporations (TTC) & Large Enterprise Companies (LEC).
Financing amount
-
Minimum- RM3,000
-
Maximum: RM200,000 or 20x basic salary inclusive of fixed allowances, whichever is lower
Tenure
-
Minimum: 2 years
-
Maximum: 10 years or up to retirement age, whichever is earlier
Profit rate
-
Monthly Repayment with Salary Deduction:
BR/IBR + 3.75% (Effective Rate: 5.50% p.a ) -
Monthly Repayment with Maybank2E Deduction:
BR/IBR + 4.00% (Effective Rate: 5.75%)
Base Rate (BR) / Islamic Base Rate (IBR) at 1.75% p.a. effective 9 July 2020.
Benefits
-
Affordable monthly repayments as low as RM33 per month*
-
High loan/financing amount up to RM200,000.
-
Ease of making monthly repayments through salary deduction
-
Flexible repayment periods from 2 years to 10 years or to retirement age (whichever is earlier).
-
No collateral or guarantor required.
-
Options to add on Insurance/Takaful protection.
Based on a financing amount of RM3,000 with a 10 years tenure