RHB Islamic Home Loan Flexi Loan

Equity Home Financing-i provided by RHB Islamic is a basic Islamic home term financing product, which is Shariah compliant. It is based on the concept of Diminishing Musharakah whereby the bank and you will acquire the property together and you pay rental on the Bank’s share, which will gradually purchase your share in the partnership until you have fully paid both yours and the bank’s equity.

Zero entry cost financing is available, where legal fees, Mortgage Reducing Term Takaful (MRTT) can be financed in the loan to reduce upfront costs to the borrower. RHB Islamic Home Loan includes a lock in period of 3 years and you will have to pay an early settlement fee of up to 2% on your outstanding loan amount if you plan to complete your loan repayment within this lock-in period.

RHB Islamic can offer you a margin of financing of up to 90% +10% for entry cost financing. The maximum loan tenure is up to 35 years (in accordance to the latest ruling by Bank Negara Malaysia) or upon reaching age 65, whichever is earlier.

What Documents Will I Need to Prepare?

Some of the supporting documents that you will need to provide to the bank when are applying for RHB Islamic Home Loan are:

* Application Form

* NRIC / Identity Card

* Copy of Sales and Purchase or Booking Receipt or Letter of Offer from Developer

* Copy of Individual Title Deed

* Property Valuation Report (for completed properties)

* Latest 3 consecutive months of salary slips / vouchers

* Latest 6 consecutive months of commission statement

* Latest EPF statements (with 3 consecutive months or more transaction history)

* Latest EA form

* Latest 6 months Bank Statement

* Letter of Confirmation of Employment and Remuneration