Apply Hire Purchase Conditions
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Whatever
your dream items may be, Bank in Malaysia can help you take it
home in the fastest possible time. The Hire Purchase facility
for items take care of everything, including comprehensive
insurance coverage and easy online repayment facilities and
over counter payment at their branches throughout the nation.
Islamic
Hire Purchase is based on the concept of Al-Ijarah Thumma Al-Bai,
which incorporates the Shariah principles of Ijarah (lease)
and Bai (sale). In essence, the Bank will buy the vehicle that
you desire from the dealer or third party and then lease it
back to you for an agreed period and rental rate. At the end
of the lease period, the Bank will sell it back to you at an
agreed price.
Documents required for applying Hire Purchase:
•
Photocopied I/C
• Photocopied driving license
• Photocopied of 3 months salary slips
• Employment confirmation letter
• Proforma invoice from seller
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