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AgroCash-i

AgroCash-i is a personal financing facility for customers for the purpose of consumer financing mainly related to agriculture and agro-based activity.

The implementation of the product is based on the Tawarruq transactions.

 

[tabby title="Eligibility Criteria" open="yes"]

Age Requirement

Government Employees
Age between 18 to 60 or up to retirement age whichever is earlier                                   

GLC Staff
Age between 21 to 60 or up to retirement age whichever is earlier

Eligibility

Government Employees
Permanent and have served for at least 6 months (confirmed or under probation)

GLC Staff
Permanent staff and has been confirmed with at least one year of service

Min. Salary Requirement

Government Employees
RM1,000 gross salary per month

GLC Staff
RM2,000 gross salary per month

Takaful Coverage Customer is encourage to take Skim Takaful Kredit

[tabby title="Product Details"]

Financing Limit

Government Employees
Maximum RM200,000

GLC Staff
Maximum RM200,000

Financing Tenure 10 years maximum
Profit Rates (Subject to eligibility and current changes)
Description Eligibility Criteria

Profit rate is subjected to eligibility and current conditions changes. Profit rates are as below:

FEDERAL GOVERNMENT

Tenure Profit Rate
Up to 3 years BR + 2.85% p.a
4 to 10 years

BR + 3.35% p.a

STATE GOVERNMENT/STATUTORY BODY/PIHAK BERKUASA TEMPATAN  & GOVERNMENT LINK COMPANY

Tenure Profit Rate
Up to 3 years BR + 3.22% p.a
4 to 10 years

BR + 3.67% p.a

FOR APPLICATION THAT HAS UNSATISFACTORY CREDIT ASSESSMENT

Tenure Profit Rate
Up to 10 years

BR + 4.25% p.a

Profit rate charged is dependent on the following criteria:
a) Existing and new customer
b) Good track record as per CCRIS which not exceed MIA-2 for the past 12 months.
c) Salary deduction through BPA
d) No Rescheduling and Restructuring (R&R) status.
e) No Special Attention Account (SAA)

Ceiling Profit Rate (CPR):-

BR + 7.15% p.a or 10% p.a whichever is higher for the calculation of Sale Price

Effective Profit Rate (EPR):-

At the current profit rate and did not exceed CPR and calculated based on monthly balance

Note : Current BR is at 3.85%

[tabby title="Fee & Charges"]

Stamp Duty As per the Stamp Act 1949 (Revised 1989).
Advanced Installment
  • Advance payment of installments equivalent to three (3) month installment which shall be used as payment of default under the financing.
  • Advance installments shall be deducted from the financing amount.
  • Advance payment can only be taken prior to financing is matured or settled.
Brokerage Fee RM 30 per transaction (Subject to Service Tax at rate of 6% (if applicable))

Note

  • The Bank will notify the Customer at least 21 days’ before effective date should any changes is made to the fees and charges.

Download Product Disclosure Sheet

AGROCASH-i PDS

 

 

 

 


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