BANK MUAMALAT OFFERS SHARIAH-COMPLIANT FSA 2 FACILITY
KUALA LUMPUR, March 13 (Bernama) -- Bank Muamalat Malaysia Bhd is offering Shariah-compliant personal financing, Cash-i Support Facility Account 2 (FSA2), for eligible members of the Employees Provident Fund (EPF) starting from March 16, 2024.
The Islamic bank said Cash-i, a personal financing facility, will be subject to a profit rate of 4.75 per cent at a fixed annual rate.
"By enhancing financial capacity and accessibility through the delivery of efficient services, Bank Muamalat not only facilitates community access to financing but also invigorates the market to meet household demands," said president and chief executive officer Khairul Kamarudin in a statement today.
Cash-i FSA2 personal financing is open to all qualified EPF contributors between the ages of 40 and 53, with a minimum gross income of RM2,000 and a minimum balance of RM3,000 in their EPF Account 2.
The bank said eligible applicants can obtain financing ranging from RM3,000 to RM50,000, depending on their EPF Account 2 balance, with a maximum payment period of up to 10 years.
-- BERNAMA
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