CASHLINE-iIslamic overdraft facility for your businessFeatures
- Financing Purpose: Working Capital
- Financing Tenure: Up to 7 years, subject to annual review
- Financing Amount: Between RM5,000 and RM100,000
APPLY NOWShariah Concept Tawarruq (Commodity Murabahah) consists of two sale and purchase contracts. The first involves the sale of an asset by a seller to a purchaser on a deferred basis. Subsequently, the purchaser of the first sale will sell the same asset to a third party on a cash and spot basis.
CASHLINE-iIslamic overdraft facility for your businessFeatures
- Financing Purpose: Working Capital
- Financing Tenure: Up to 7 years, subject to annual review
- Financing Amount: Between RM5,000 and RM100,000
APPLY NOWShariah Concept Tawarruq (Commodity Murabahah) consists of two sale and purchase contracts. The first involves the sale of an asset by a seller to a purchaser on a deferred basis. Subsequently, the purchaser of the first sale will sell the same asset to a third party on a cash and spot basis.
BSN Micro-i Cashline is an Islamic overdraft facility offered to micro enterprises for their working capital needs. This financing facility enables the customer to utilize the financing limit through BSN Giro-i Premium Company Account. The profit charges is calculated on daily basis based on the utilised amount. This facility is subjected to annual review.
ELIGIBILITY
- Micro enterprises (Sole Proprietorship / Partnership / Private Limited).
Malaysian owned business.
- Business has been in operation for at least 2 years.
- Business must be operated in full time basis.
- Self-employed including professionals (Accountant, Doctor, Lawyer).
- Business registered with Companies Commission of Malaysia (CCM) / Local Authority (LA) / Professional Body / Agency (for professionals only).
RATES
SBR + 6.70% p.a.
REQUIRED DOCUMENTS
| Sole Proprietorship / Partnership | Private Limited Company |
| A valid Business Registration certificate with Companies Commission of Malaysia (CCM) / Business License with Local Authority (LA) / Professional Body Registration Certificate or Document and certificate of practice (for professionals only) | Certified True Copy (CTC) of the followings:
Note: *For companies incorporated under Companies Act (CA) 1965. |
A copy of Identification Card of Proprietor / Partners | Board of Director Resolution:
|
Latest 6 months Company Current Account Bank Statement | A copy of Identification Card of all Directors / Shareholders / Guarantors (if any) |
Any supporting documents as required by the Bank | Latest 6 months Company Current Account Bank Statement |
| Latest 2 years Audited Accounts / Management Accounts |
| Any supporting documents as required by the Bank |
LATE PAYMENT CHARGES (LPC)Â
Late Payment Charges will be charged based on Ta’widh (Compensation).
| During financing Period | Late Payment Charges (LPC) not exceeding 1% per annum will be imposed on the overdue monthly instalment payment in the event you fail to pay any monthly instalment within the stipulated period from the first disbursement of the financing until its maturity date. |
| After the completion of financing period | Prevailing daily overnight Islamic Interbank Money Market (IIMM) rate will be charged for failure to pay the total outstanding balance after maturity or upon judgment obtained, whichever earlier. |
HOW DO I APPLY?
- Application submission available online. APPLY NOW.
- User guide for online application.
- Contact our Credit Supervisory Team for further information.
NOTES:
- Islamic Interbank Money Market (IIMM) is subject to change from time to time.
- View Product Disclosure Sheet.
- View Frequently Asked Questions (FAQ).
- Terms & Conditions apply.
Visit our branch
Visit our nearest Business Financing Centre for more information
 OR download our Application Form HERE.
