Islamic Products

Islamic Vehicle Financing

Islamic Vehicle Financing

Eligibility Criteria

  • the financing is created in connection with the purchase/refinancing of private and non-commercial vehicles:
  • the initial amount financed must not exceed RM400,000;
  • the original financing period must not be more than seven years prior to the purchase date;
  • the maturity date of the financing must not be less than six months from the purchase date;
  • the vehicle has a valid and comprehensive vehicle  takaful policy covering not less than the outstanding balance (being the outstanding amount) at the time of purchase;
  • the Originator’s interest as the financier has been duly endorsed on the registration card/document of title of the vehicle; and
  • comply with other criteria as per Cagamas’ requirements

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