On 1 January, 2008 Islamic Banking began to operate as a new subsidiary of

Maybank now known as Maybank Islamic Berhad (MIB). Customers will now enjoy a
better range of Islamic products and services. This includes financing in foreign
currencies and stepping up efforts to develop and package products and services
that are in demand both locally and overseas.

Maybank Islamic Home Loan

Calculate Maybank Islamic home loan repayments. Apply for free.

Apply for free

Interest Rate

4.55%
Monthly Repayment

RM1,274
1. I want to borrow
RM

250,000

2. For how long

years

30

Calculate

Maybank Highlights

No Lock-in-Period

Low early settlement penalty

Stamp duty exemptions

Zero entry cost package available

Terms & Conditions

Minimum Age: 21 Years

Loan Tenure: Up to 35 Years

Margin of Finance: 90% + 5% for MRTA financing

Suitable for: Completed homes, under-construction properties, refinance

Is a Maybank Islamic Home Loan Right for Me?

Maybank Islamic offers a comprehensive variety of Shariah-compliant Islamic home
financing packages with fixed, variable rates to choose from, with and without lock in
periods. Maybank also has come out with various tools to ease their customers. One of it is
the MayBank home loan calculator. For the convenience of their customers, Maybank
provides exclusive Maybank home loan calculator to help you make the right decision.
Most noteworthy among these packages are Commodity Murabahah Home Financing-i and
MaxiHome-i which have no lock-in periods and early settlement penalties. The Commodity
Murabahah Home Financing-i, a variable rate Islamic home loan with a ceiling rate to
protect against BR (Base Rate) fluctuations.
Maxi Home-i is a full-flexi home loan that comes with a linked current account. Regularly
depositing extra amounts into the account helps reduce interest payments and can reduce
the loan tenure over the long run. If you are uncertain about what is the minimum amount
you need, you can always estimate that amount using Maybank home loan calculator.
Maybank Islamics other products have a 3-year lock in period with an early settlement fee
of 2% in case you want to refinance or sell your property during this period.
Similar to many other Islamic banks, Maybank Islamic offers stamp duty discounts for
Islamic loan packages. A 20% discount applies for new loans, while loans refinanced from a
conventional product gets a full stamp duty waiver. The margin of financing offered by
Maybank Islamic Bank can reach up to 100% (with Takaful premium), depending on the
respective loan package.
For the first-time house buyer, Maybank provides you its Maybank home loan calculator to
estimate how much you can borrow, how much you will have to pay, and for how many
years. It is very confusing with the whole buying house process such as signing the Sale
and Purchase agreement, dealing with solicitors, legal fees and stamp duty. Via Maybank
home loan calculator, you can get an idea on your future spending as well as budget control.

So how to use this Maybank home loan calculator? Its very simple. Go to the Maybank
official website and select the Maybank home loan calculator at the side bar under the
Loans. Then you will be led into Maybank home loan calculator window. Just insert the
costs of the house, your monthly income and your desired loan tenure into the exclusive
Maybank home loan calculator; then you will find out how much you could borrow and how
much you need to pay every month. Thats how the Maybank home loan calculator works.

Maybank Islamic Home Loan Packages

Maybank Islamic Bank offers four Shariah compliant home loan packages. The key features
of the Commodity Murabahah Home Financing-i, HomeEquity-i, Home Financing-I and
MaxiHome-I packages are set out below.
Product

Commodity
Murabahah Home
Financing-i

HomeEquity-i

Home Financing-i

Key Features

Variable rate Islamic home

financing package

20% discount on stamp duty for

new account

Margin of financing up to 100%

(with Takaful premium)

20% discount on stamp duty for

new account

Financing eligibility of up to 70%

of salary

For completed residential

properties and purchase of land (for
purpose of home building)

Islamic home financing package

Is this a flexi
package?

Yes, SemiFlexi

Yes, SemiFlexi

Yes, SemiFlexi

with choice of fixed or tiered rate

MaxiHome-i

Financing eligibility of up to 70%

of salary

No early settlement charge or

lock-in period penalty

Islamic home financing package

with zero entry cost option

Rebate given for early settlement

Make extra deposits to reduce

interest payments and shorten your loan
tenure

Yes, SemiFlexi

Details of Maybank Islamics Flexi Home Loan Packages

Flexi home packages allow borrowers to make extra repayments every month in order to
reduce their monthly interest charges. These packages come with requirements, fees and
conditions that should be considered alongside their benefits.

Flexi type
Is a linked bank
account
required?
Account
Maintenance

Commodity
Murabahah
Home Financingi

HomeEquity
-i

Home
Financing-i

MaxiHome
-i

Semi-Flexi

Semi-Flexi

Semi-Flexi

Semi-Flexi

No

No

No

No

No

No

No

No

Fees
Redrawal Fees

RM25

RM25

RM25

RM25

Am I Eligible for a Maybank Islamic Home Loan?

All individuals, joint applicants, residents and foreigners may apply for a Maybank Islamic
loan. However, for foreigners, terms will differ from those received by residents.

What Documents Will I Need to Prepare?

If you have applied for a Maybank Islamic Home Loan, you will be asked to provide some
supporting documents in order for the bank to process your application. These documents
are listed below:

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

Sounds Great! How Should I Proceed?

You can use the Maybank Islamic home loan calculator to calculate your monthly
repayments, based on your desired property value and loan amount. Once you are ready to

apply, you can make a free enquiry through iMoney, and we will call you back. Applying for a
home loan with iMoney is absolutely free of charge.
If you are not sure whether this home loan by Maybank Islamic is your best option, click
here to compare other home loans in Malaysia.

Is It Easy to Repay my Maybank Islamic Home Loan?

Maybank has the largest branch network in Malaysia, so repayments will be very convenient
to make. Other online modes of repayment are available as well.
Online Transfer
Transfer funds from your Maybank Islamic Bank Savings or Checking accounts to
make your payments online
MEPS

Pay your loans at any of the MEPS ATMs (over 5,000) nationwide

Interbank GIRO
Pay your loans through the Interbank GIRO fund transfer at the participating banks
branch or through online banking
Standing Instruction Facility
Automatic deduction from your bank account every month
Maybank Islamic ATMs
Transfer funds from your Maybank Islamic Savings or Checking accounts to make
your payment at all Maybank Islamic branches
Express Payment machine
Make a check or cash deposit at Maybank Islamic branches
Payment by Mail
Mail to Maybank Islamic with your check and statement enclosed in an envelope
Phone Banking
Issue instructions to have your bank account deducted to pay for your home loan
with your T-PIN

If you are looking for other home loans, you may also consider
RHB Home Loan

The home loan rate from RHB Bank starts from Base Rate (BR) 4.00%. The option of a flexi loan package is
available and there is a maximum of 90% margin of financing. There is a 3 year lock-in period for this home
loan.
Bank Muamalat Home Loan
At Bank Muamalat, the housing loan rate starts from Base Rate (BR) 3.90%. There is no option of a flexi
loan package available and there is a maximum of 90% margin of financing. There is a 5 year lock-in period
for this housing loan.
Public Bank Home Loan
Public Bank provides a mortgage rate starting from Base Rate (BR) 3.65%. There is available the option of a
flexi loan package for this loan and there is a maximum of 90% margin of financing. The lock-in period for
this mortgage is 3 years.

MaxiHome
A flexible home loan with different packages to suit your needs
Benefits

Flexible repayment options that take into account your present and future
needs

Higher loan eligibility of up to 40% of your salary, compared to the norm

of 1/3

Longer repayment period of up to 35 years or until the age of 70,

whichever comes first

Higher loan margin of up to 95% of the value of the house (including

capitalisation of related expenses such as MRTA premium)

Enjoy MRTA coverage, which settles your outstanding mortgage and

transfers the title deed to your family in the event of death or total and
permanent disability

Flexibility of revising monthly instalments to suit your financial situation

Ability to service the interest portion or have monthly instalments

commence immediately instead of upon full loan disbursement

Easy payment of your instalment via Maybank branches, ATMs, Kawanku

Phone Banking, and online via Maybank2u.com

Overdraft facility available from as low as BR + 2.05%

Who can apply

All individuals, joint applicants, residents and non-residents

MaxiHome Plus

For properties under construction:

Loan tenure up to 35 years or 70 years of age

More savings as the instalment will be reduced by extending your loan tenure

Applicable to properties valued RM100,000 and above

For professionals and graduates only

Eligibility: age 25 to 35 on the date of loan application

Applies to non Zero Entry Cost cases

For completed properties*:

Choose from bullet payment and extension of loan tenure up to 35 years or 70 years of age
*Terms & Conditions apply
Maxi Flexibility

This option is applicable for houses costing RM75,000 and above only.

Benefits

Flexible choice of facility: Choose from a term loan, an overdraft or a

combination of both. Under the combination option, the ratio of the term loan
to overdraft is flexible and only subject to a minimum amount of RM10,000
for each facility type

Unique personal loan facility, tailored to meet your personal investment

needs or contingencies including children's education or home improvements

Refinancing
Refinance your home loan with Maybank and enjoy savings with attractive refinancing interest
rates of as low as BR + 1.85%.

Re-mortgage
Re-mortgage your house that has been fully paid for or is free from encumbrances to release cash
from your largest fixed asset, without having to sell your house

Redraw
If you have had a housing loan with Maybank for more than 6 months, you may opt for
additional financing at any time. The total loan amount (e.g. current loan outstanding plus
additional financing) can be up to 90% of the value of your house.
Rates

Financing rates are very competitive with rates of as low as BR + 1.45%.

Fixed Rates packages with fixed rates of as low as 4.80% for the first 3 years and 5.30% for
the first 5 years.
Required documents

COMPULSORY DOCUMENTS
Application Form duly completed
IDENTITY DOCUMENTS
NRIC / Identity Card
Latest Valid Passport & VISA/Working Permit/Employment Pass
Business Registration/Form 24 & 49
PROPERTY DOCUMENTS
Copy of Sales & & Purchase or Booking Receipt or Letter of Offer from Developer
Copy of Individual Title Deed
Property Valuation Report (for completed properties)
INCOME EVIDENCES
For Salary Earners/Gainfully Employed
Latest 3 consecutive months 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

Maybank Maxi Home Flexi Loan

Flexible house financing package offers a combination of a
home loan and current account overdraft to manage your
money and receive interest earnings.

o Up to 35 years
o Full-Flexi loan
o Floating interest rate
o 3 years lock in period
o Up to 95% margin of finance

You Borrow
more than

RM150000

Fees & Charges

Requirements

Guide / FAQ

>

Apply Now

Interest Rate
4.55% p.a.

5253e8ad690018

Apply online now for Maybank Maxi Home Flexi Loan

RinggitPlus will help you every step of the way.

My income is greater than

RM24000

a year.

That's at least

RM2000

monthly.

By typing your contact information, you agree to our terms &

conditions. We respect your privacy and are committed to handle
your personal information safely and responsibly.

You've almost completed your application for

Maybank Maxi Home Flexi Loan
To help you better we need to know a little bit more
about your application
How much is the property you are buying worth?
How much would you like to borrow?
What is the purpose of the loan?

Purchase existing property

How many years would you like to pay off for your loan?
Help me choose later

How much do you earn a month?

What do you work as?

salaried employee

What is your NRIC number?

Lastly, we need your email to send you the application package

you need.
Confirm your application
Please fill in all fields and enter a valid email
true

Thank you for applying with RinggitPlus!

We have sent you an email to help you with your
application.
Continue to Maybank website
If you have any question, let us know at can@ringgitplus.com,
we'd love to help.
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promotions.

Fees & Charges

There are always fees but how much are they?
Late Penalty Fee
1% of the outstanding amount
Withdrawal Fee
RM5

for each withdrawal *

Processing Fee
RM200

Monthly Fee

RM5

Early Settlement Fee

2% of the remaining balance
Redemption Letter Fee
RM50

per request *

Letter for EPF Withdrawal Fee

RM10

per request *

Insurance Types

Fire Insurance

MRTA

*subject to 6% GST

Requirements
Are you eligible for this Maybank home loan?
Minimum annual income
RM24000

Minimum age
25 years old
Maximum age
35 years old
Who can Apply

Any nationality

Frequently Asked Questions about Maybank Maxi

Home Flexi Loan
Things you might want to know

What is the Maybank MaxiHome Flexi mortgage?

Maybank Maxi Home Flexi is based on the Base Rate ( BR), which replaced the
BLR in 2015 and offers full payment flexibility in a housing loan. You will get a
home loan account and a current account, with an option for an overdraft which
you can earn interest profit for a balance of above RM5,000.
What's more, this mortgage allows you to deposit additional cash when you can
afford it, reducing your principal borrowing. This includes an option to redraw
the money you've overpaid when you need it.
You may also request up to 90% margin plus 5% for MRTA, legal fees and
evaluation fees if this is your first home loan. However, the approval is subject
to your credit rating, so youll need to prove you have a stable income and clean
credit history.

Can I withdraw money that I paid for this home loan?

Yes, you can. Minimum amount for each withdrawal is RM1,000 using the ATM,
Maybank2u, cheque, or even at your preferred branch.

Do I need to buy an insurance policy when I take this

mortgage?
You will have to purchase Mortgage Reducing Term Assurance ( MRTA) thats
compulsory. The one-off premium is calculated based on age, amount borrowed,
loan period, and interest rate. You can pay with cash or include it into your home
finance loan.
Here's an extra treat for you - If you have at least RM1,000 balance for your
overdraft, you will get complimentary Personal Accident cover of up to RM50,000
and free medical expenses of up to RM3,000.

What are some great things about the Maybank MaxiHome

Flexi home loan?

You can minimise the initial down payment required in getting your
mortgage by including zero moving cost such as MRTA premium, legal
fees and valuation fees, into the total loan financing package.

It offers greater flexibility for those who have irregular income. If you have
extra cash, you can pay in excess and not have to worry about next
month's loan installment. If you change your mind, you can also redraw
the surplus cash without incurring extra fees.

Free PA and medical insurance coverage on your overdraft account.

Can a foreigner apply?

Yes, however you must borrow more than

RM500,000.

What documents do I need to apply for this home loan?

If you are an employee earning a salary:

Copy of MyKad (front and back) or latest valid passport & Visa / Work
Permit / Employment pass

Last 3 month's salary slips or vouchers

Latest EPF statements with 3 consecutive months or more transaction

history

Latest EA (Tax) Form

Last 6 month's Bank Statement

Letter of Confirmation of Employment and Remuneration from your

employer

If you are self-employed:

Business Registration Certificate Form 24 and Form 49

Last 3 months bank statements

Latest BE form with income tax receipt

MaxiHome Flexi Loan

Your Dream Home. Our Flexible Mortgage
MaxiHome Flexi Loan

Whether it's your first home, dream home or property for investment, you can own it faster with
MaxiHome Flexi loan.

What is a MaxiHome Flexi loan?

A 3-in-1 account, the MaxiHome Flexi loan integrates your home loan and your deposits
account. This way any savings placed in your Flexi loan account will reduce the outstanding
principal amount of your home loan automatically.
Complete MaxiHome Flexi Benefits

You manage all your accounts easier with one single Flexi loan account

Reduce the flexi loan outstanding principal amount faster with flexible
payment amounts

Excess payments you make will reduce interest on the Flexi loan immediately.

Credit balances above RM5,000 in the Flexi-loan account earns you interest.

You are covered with Personal Accident & medical expenses.

The excess payments you make can be withdrawn at anytime.

You don't incur extra charges for withdrawal of excess funds.

It is easy to access Maybank payment and withdrawal channels.

A Look at Maxi Home: Maybank

Housing Loan
Published by CompareHero.my on April 8, 2014 | Filed under Housing Loan
692 6 5 0
Getting a Maybank housing loan can be a life altering decision for you.
With the right loan, you can finally fund your dream home and essentially lay
the foundation for the next several years of your life.
That being said, it is still important you learn as much as you can about the
housing loan you are interested in signing up for, as the consequences of
being stuck with a mortgage that does not really benefit you can take a toll
not just on your finances, but also on your general peace of mind. After all,
nothing is more stressful than knowing you are obliged to pay a huge amount
of money for something that does not essentially add anything rewarding to
your life.
With all of that in mind, here is a look at one of Malaysias premier banking
institutions and their Maxi Home loan.
All loans, housing or not, have benefits, and this Maybank house loan does
have a few that might entice you. The most practical of which would have to
be the flexible repayment options that the bank offers. This essentially means
that when it comes to repayment, your current and future capabilities are
taken into consideration whenever coming up with the payment plan, thus
making sure that while you would be having a financial commitment with
Maybank, the burden of payment would not be as heavy, given the
customised conditions.
In line with this, Maxi Home offers longer repayment plans that can reach up
to 35 years. While it is arguable that this may cost more money in the long
run (mainly due to the current housing loan interest rate), the arrangement
allows people with lower payment capabilities to afford the mortgage on their
home loans.
http://www.comparehero.my/housingloanhttp://www.comparehero.my/housing-loan
With these benefits, it is easy to see that the Maxi Home loan from Maybank
focuses on the needs of people who would like to have a home, but have
certain financial disadvantages. One might say that Maybank opening up
such opportunities for the middle class and the lower middle class is an
amazingly good-natured move.
This notion is also reinforced by the fact that Maybank housing loan offers
higher loan eligibility of up to 40%, beating out the usual standard of one
third set by a lot of other financial institutions. What does this mean? In the
simplest possible terms, this means that a lot more people are likely to get
approved for the loan as compared to other financial institutions that offer
housing loans. The higher percentage of being eligible alone should make the
Maxi Home an extremely attractive offer.

And as if to really drive the point home, this loan also has a higher loan
margin of up to 95% percent of the property. Looking at all these benefits, it
is safe to assume that you can acquire your own house with very little of your
own money to be spent. It is rather unusual that a bank would foot nearly the
entire value of the house.
Assessing the merits of this loan, one cannot avoid asking the question; is
this housing loan too good to be true? There are certain pitfalls that come
with signing up for a housing loan seemingly very easy to get approval on,
like being caught in some form of debt, but in all honesty, that particular
problem does not lie with the loan set up.
If you are interested in taking out a Maxi Home loan from Maybank, then be
sure not only to equip yourself with all the possible pieces of information you
might need, but also determine if you really are financially ready for the
commitment.
- See more at: http://www.comparehero.my/blog/maybank-housing-loan-maxihome/#sthash.UFVvObgX.dpuf