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.
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Financing facility for:
- Re-planting; or
- Expansion of the Existing Plantation
Product Details
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.
Advantages
- Attractive financing rates and competitive pricing.
- Fast financing approval.
- Rapid process disbursement.
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.
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. |
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Takaful Contribution
Brokerage fees
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Based on financing amount approved.
Brokerage fee for every successful Tawarruq transaction is at RM7 for every millions of commodity purchasing amount.
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Note: Any changes to the related fees and charges will be made in writing by the Bank.
Download Product Disclosure Sheet
