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AgroCash-i

AgroCash-i is a personal financing which provides consumer financing especially for agriculture and agro-based activity. The implementation of the product is based on the Tawarruq transactions.

 

 

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Eligibility Criteria

Age Requirement

Government Servants
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 Servants
Government servants with at least 3 months of completed service

GLC Staff
Confirmed staff with 3 years in service

Min. Salary Requirement

Government Servants
RM1,000 gross salary per month

GLC Staff
RM2,000 gross salary per month

Takaful Coverage Yes, encourage to take the Takaful coverage

Product Details

Financing Limit

Government Servant
Maximum RM200,000

GLC Staff
Maximum 10 times of gross salary and based on maximum financing limit of RM100,000

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

Profit rate is subjected to tenure of financing and calculation is based on the monthly balance as below:

FEDERAL GOVERNMENT

 

Tenure Profit Rate
Up to 3 years BR + 2.85% (6.45%)
Up to 10 years

BR + 3.35% (6.95%)

 

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

 

Tenure Profit Rate
Up to 3 years BR + 3.22% (6.82%)
Up to 10 years

BR + 3.67% (7.27%)

 

NEW AND EXISTING CUSTOMER WHO DO NOT QUALIFY ON THE CRITERIA OF ITEM (B)

Tenure Profit Rate
Up to 3 years BR + 4.25% (7.85%)

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)

Fee & Charges

Stamping Fees As per the Stamp Act 1949 (Revised 1989).
Brokerage/ Trading Fees

Brokerage/ Trading fees to facilitate each Tawarruq transaction is RM50 per transaction.

(Subject to GST at 6%)

Takaful Contribution Subject to financing amount


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