SAWIT-i is a financing facility for smallholders who are involved in small-scale oil palm plantation. The implementation of the product is based on the Tawarruq transactions.
Financing facility for:
- Re-planting; or
- Expansion of the Existing Plantation
[tabby title="Product Details" open="yes"]
This product offers financing facility with features as per below. As an example:
|Facility Amount||RM 50,000|
|Facility Tenure||10 years or 120 months|
|Profit Rate||*9.00% p.a. on monthly rest basis|
*Note: BFR (7.00%) + 2.0%. BFR is subject to current changes.
- Attractive financing rates and competitive pricing.
- Fast financing approval.
- Rapid process disbursement.
[tabby title="Eligibility Criteria"]
- Smallholders individuals.
- Organization of the Oil Palm Industry or government agencies that manage smallholders.
- A company with a paid up capital of less than RM2.5 million.
[tabby title="Fee & Charges"]
|Stamping Fees||As per the Stamp Act 1949 (Revised 1989).|
|Legal & Disbursement Fees||Include solicitors fees for financing documentation, registration of charge, land search and bankruptcy search and others related charges.|
Based on financing amount approved.
Brokerage fee for every successful Tawarruq transaction is at RM7 for every millions of commodity purchasing amount.
Note: The bank will send at least 21 days notice to customers before any change is made to the fees and charges