| Business Premises Financing Scheme |
What is this product about?
This Scheme is to finance the purchase of shop houses/office space or factories whether completed or still under construction.
What do I get from this product?
What are the Shariah concepts applicable?
What are my obligations?
What if I fail to fulfil my obligation?You will be charged a non-compounding compensation (ta’widh) of 1% per annum on the monthly instalment in arrears or any other method approved by Bank Negara Malaysia, the Association of Islamic Banking Institutions in Malaysia (AIBIM) and SME Bank Shariah Committee. Please refer to the other obligations stated in Bank’s Letter of Offer.
What at the fees and charges I have to pay?
What if I fully settle the financing before its maturity?There is no penalty imposed for early full settlement. However, the Bank may impose charges that reflect reasonable estimate of costs as per Bank Negara Malaysia “Guidelines on Ibra” For Sale Based Financing.
Do I need any Takaful coverage?
You are required to obtain Takaful coverage from Bank’s panel of Takaful operators.For MRTT, the actual contribution cost is included in the financing package, subject to terms and conditions. Notwithstanding this, you may be required to obtain other suitable Takaful coverage as stipulated in the Bank’s Letter of Offer.
What are the major risks?
The Bank shall proceed with legal action should you fail to service your financing repayment.If you have problems to fulfil your financing obligations, please contact and discuss with us.
What do I need to do if there are changes in my contact details?It is important that you inform us of any changes in your contact information to ensure that all correspondences reach you in a timely manner.
Where can I get further information?
Should you require additional information of the product, please refer to our brochures, which is available at our branches nationwide and our website at www.smebank.com.my or call our Hot Line 1800 88 3131.
If you have any complaints on our products or service level, you may also write to us at the following address:
Other financing package available:The Bank’s do provide assets and working capital financing, contract financing, i-Cash and dedicated product programs such as i-SPLASH, i-REACH and i-SURF.