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  List of banking institutions that
provide islamic banking
  Bank Negara Malaysia
  Credit Bureau

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Documents required when
applying for house financing-i

Relevant fees and charges for
house financing-i
Paying my loan
Tips when buying property
Protection for my home
Rights and duties
Abandoned housing project
In relation to your loan repayment, you may come across various terms. Below are some of the common terms:
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Graduated payment scheme
Graduated Payment Scheme allows you to pay lower instalments at the beginning of the financing period but will gradually increase over time. You will not be burdened with a high instalment in the early years of your purchase. As your earnings grow over time, you can afford to pay more, allowing higher instalment payments.

This scheme is suitable for those who wish to purchase a more expensive property but is restricted by your payment capability during the initial years.
Prepayment flexibility
Prepayment means payment of all or part of the financing before the expiry of the agreed tenure.

Different Islamic banking institutions may have different terms and condition imposed on prepayments. Check your financing package to see if it allows you the flexibility to make prepayments.
Early redemption rebate
At the discretion of the Islamic banking institution you are dealing with, you can be enjoy rebate (ibra’) for the unearned profits for early redemption of financing. From this rebate, the balance outstanding of the selling price will be reduced.
Early redemption charges
Some Islamic banking institutions may impose charges for early redemption of the financing. The charges imposed can either be a flat rate or an ‘x’ number of months’ profit (e.g. 1 month’s profit) and can be given in the form of a reduction in rebate. Some Islamic banking institutions may not even charge you if you’ve given sufficient notice (refer to your loan’s terms and conditions) or if the settlement is made after a specific required minimum period of financing.
Compensation charge
Islamic banking institutions may impose a compensation charge on late payment of the financing. The charge is 1% on overdue instalments and is not compounded.
For more information on Islamic banking, please download our booklet on applying for financing.