|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SME BANK i-CASH |
Introduction
SME Bank i-Cash is a product to finance business needs for individual (applicant and / or family members i.e. husband / wife, parents, parent in-law and siblings of the applicant) to start a new business or for existing businesses.
Benefit
 | No collateral |
| | Fast approval |
| | Financing amount is from RM5,000 up to RM250,000 |
| | Flat profit rate |
| | No processing fee |
| | No guarantor needed |
| | No penalty imposed for early full settlement. |
Salient Features
| Purpose of Financing | ||
| | To finance business needs for individual (applicant and/or family members i.e. husband/ wife, parents-in-law and siblings of the applicant) for start-up or existing business | |
| Egilibity | ||
| | Malaysian citizen | |
| | Permanent and confirmed staff of government, its agency and Government Link Companies (GLC). | |
| | Minimum gross salary of RM1000 per month | |
| | Applicant age is not less than 18 years old and not more than 55 years old (58 years old for government staff) | |
| Facility | ||
| | Bai' Inah for working capital. | |
| Profit Rate | ||
| | 1 – 5 years : 3.99% per annum | |
| | 6 – 10 years : 4.69% per annum | |
| | 11 – 15 years : 4.99% per annu | |
| | 16 – 20 years : 5.20% per annum | |
| Tenure | ||
| | Minimum 1 year and maximum 20 years or until retirement age of 55 years old ( 58 years old for government staff), whichever is earlier | |
| Repayment Method | ||
| | Repayment of the facility is made via Biro Perkhidmatan Angkasa (BPA) or salary deduction for government staff. | |
| Fees and Caharges | ||
| | Legal fee of RM200.00 | |
| | Stamp duty: | |
| | 0.50% on total financing | |
| | RM10 is for 1 set of Asset Sale Agreement | |
| | RM20 is for 2 sets of Asset Purchase Agreement | |
| | RM10 is for Statutory Declaration | |
| | Premium of Group Credit Family Takaful Plan | |
| | Advance payment of two (2) months installment will be deducted from the financing amount | |
| | Will Writing Application Fee of RM350.00 (if opted) | |
| | In case of arrears other than caused by BPA, 1.00% of Late Payment Charge will be charged on the installment in arrears | |
| Required Document | ||
| | Copy of applicant and spouse NRIC (if applicable) | |
| | Employment confirmation letter from employer | |
| | Copy of latest 3 months payslip | |
| | Copy of latest 3 months salary bank statement | |
| | Copy of business registration (if applicable) | |
Download pdf file.Click here
