Citibank Housing Loan

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While it may be a hard decision to actually choose a home loan for many people as it can get really confusing just calculating the interest rates that one would need to pay back in order to service the loans. Along with that also comes other concerns such as hidden chargers and penalties if the payments of the monthly instalments are paid late. Many people in fact have related home loans to mobile phone plans as there are so many complexities involved along with terms and conditions which can be hard to understand. For those of you who can relate to what has been said in the previous lines above, worry no more as Citibank offers a home loan which suits just about anyone and everyone. What you will actually get at Citibank is a completely flexible home loan which you can pay off whenever you feel like doing so. You are given the flexibility to pay an additional amount to finish up your loan payments and you are also allowed to withdraw money when you are in need of cash. This brings a whole new meaning to the term ‘flexibility’ and this is exactly what people are looking for nowadays.

How Can I Qualify For The Citibank Home Loan?

If you happen to be interested in the Citibank Home Loan, you will need to meet a few standards which has been set by Citibank in order for you to qualify for the home loan. The first thing which you would need to know is that you will at least have to be 18 years of age in order for you to apply for the home loan and there is also a maximum age limit of 70 which you are not supposed to exceed. You need to be sure that you at least have an annual income of RM 36,000 in order for you to be eligible for the home loan and its home loans are open to people of all nationalities here in Malaysia.

What Exactly Does Citibank Offer Its Customers?

The main benefit of the Citibank Home Loan package is that you actually get a margin financing on your property for up to 90% and also a 5% for MRTA financing from AIA Insurance. You will be happy knowing that you will have that privilege of getting a 35 year loan tenure from Citibank and the loan packages at Citibank is suited for homes which are completed and also properties which are under construction.

What Are The Types Of Loans Available

As far as full-flexi home loan packages are concerned, Citibank is still at the top of its game. Citibank is one of threw few banks that actually provides two different types of full-flexi home loans. The first type of loan will be the HomeCredit package which not only comes with a single integrated account which allows you to consolidate your account and keep track of your finances but also offers you the benefit of a payment concept without giving you a fixed monthly payment but instead allowing you to pay when you wish like paying.

The other home loan package, also known as the FlexiHome Loan allows you to save on interest as the interest rates are calculated based on a daily basis. You are also given the option to start paying for your property immediately even if the property you want to purchase is still under construction. This will actually allow you to reduce your financial burden a little faster on the long run.

Both the Citibank loan packages which are offered also come with a lock-in-period of 6 years. By far this is the longest lock in period in the market today. If you ever feel like settling your loan repayment then you has better be ready to pay a penalty of 3.6% which will be charged on your outstanding loan amount.

How Can I Increase My Chances Of Buying That Dream Home Which I Have Always Wanted?

The first thing which you will need to do in order for you to increase your chances of getting your home loan approved is to pay off any debts which you may already have. Having bad debts might kill your chances of getting your loan approved. The next thing you should know is that if you are someone who is married, you will also have your chances increased as you will be able to use your spouse’s income as a combined income for the both of you and this normally does the trick as well as increase credibility with the banks.

 

 

Citibank Credit Card

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Citibank has a wide range of different credit cards to suit different clientele and each of the cards has its own advantages. Below is a list of different cards for you to compare to see which type of card is suitable for you.

 

Citibank Citi PremierMiles Visa Card

  • Minimum monthly income: RM8,333
  • Interest rate: 15% per annum
  • Balance transfer: 2.99% per annum (one-time upfront fee)
  • Annual Fee: RM600
  • Late payment charges: 1% of outstanding balance or RM10 up to a maximum of RM100
  • Enjoy earning up to 2 PremierMiles for every RM3 that you spent
  • Unlimited access to selected Plaza Premium Lounges in Malaysia and international Plaza Premium Lounges
  • Travel insurance coverage of up to RM300,000 and travel inconvenience coverage of up to RM32,000
  • Enjoy various privileges at all participating merchants

 

Citibank Shell-Citi Credit Card

  • Minimum monthly income: RM2,000
  • Interest rate: 15% per annum
  • Balance transfer: 2.99% per annum (one-time upfront fee)
  • Annual Fee: RM195
  • Late payment charges: 1% of outstanding balance or RM10 up to a maximum of RM100
  • Enjoy getting up to 8% cashback when you fill up your car or motorcycle at any SHELL petrol stations
  • Enjoy various privileges at all participating merchants
  • Travel insurance coverage of up to RM100,000

 

  • Enjoy 0% interest on instalment payment plan at all participating merchants

 

 

Citibank Choice Credit Card

    • Minimum monthly income: RM2,000
    • Interest rate: 15% per annum
    • Balance transfer: 2.99% per annum (one-time upfront fee)
    • Annual Fee: Free
    • Late payment charges: 1% of outstanding balance or RM10 up to a maximum of RM100
    • Enjoy earning Reward Points that will not expire from retail spending in dining, shopping, entertainment and groceries
    • Enjoy earning 50 Citi Rewards points for every RM50 that you spent per transaction
    • Enjoy various discounts at over 24,000 hotels, restaurants, retail outlets, boutiques and golf resorts worldwide
    • Enjoy various discounts at over 1,000 hotels, restaurants, retail outlets, boutiques and golf resorts in Malaysia

 

  • Enjoy 0% interest on instalment payment plan at all participating merchants

 

 

Citibank AirAsia-Citi Platinum Visa Card

    • Minimum monthly income: RM3,000
    • Interest rate: 15% per annum
    • Balance transfer: 2.99% per annum (one-time upfront fee)
    • Annual Fee: RM380
    • Late payment charges: 1% of outstanding balance or RM10 up to a maximum of RM100
    • Enjoy earning up to 3X AirAsia Points from all your retail spending in dining, shopping, travelling and groceries
    • You will be able to enjoy AirAsia priority booking and receive early notifications on AirAsia promotions on special fares and holiday packages
    • Enjoy up to 30% discount on Executive Screening Packages excluding consultation fees at selected hospitals
    • Enjoy up to 15% discount on walk-in rates for all hospitals and this is applicable to rates of RM120 and above
    • Travel insurance coverage of up to RM200,000 for a maximum of 30 days

 

  • Enjoy 0% interest on instalment payment plan at all participating merchants

 

 

Citibank CitiBusiness Credit Card

    • Minimum monthly income: RM10,000
    • Interest rate: 15% per annum
    • Balance transfer: 2.99% per annum (one-time upfront fee)
    • Annual Fee: RM200
    • Late payment charges: 1% of outstanding balance or RM10 up to a maximum of RM100
    • Enjoy earning 1.5 Reward points for every RM1 that you spent in dining, shopping groceries, entertainment and petrol
    • Enjoy earning 50% more Citi Rewards Points with no expiry date
    • This card allows you greater control over your financial situation
    • You can also apply for higher business-size credit lines of up to RM250,000 to cater to your business needs
    • Personal accident insurance benefits of up to RM570,000
    • Enjoy various discounts at over 25,000 hotels, restaurants, retail outlets, boutiques and golf resorts worldwide

 

  • Enjoy 0% interest on instalment payment plan at all participating merchants

 

 

Citibank Rewards Card

    • Minimum monthly income: RM5,000
    • Interest rate: 15% per annum
    • Balance transfer: 2.99% per annum (one-time upfront fee)
    • Annual Fee: RM600
    • Late payment charges: 1% of outstanding balance or RM10 up to a maximum of RM100
    • Enjoy 5X Citi Rewards Points for every RM1 that you spent at major supermarkets such as Giant, Tesco, Cold Storage, Jaya Grocer and many others and the maximum limit is RM3,000 per month based on the billing cycle
    • Enjoy 5X Citi Rewards Points for every RM1 that you spent overseas in travelling and the maximum limit is RM24,000 per year
    • Enjoy 5X Citi Rewards Points for every RM1 that you spent at major department stores such as AEON, Marks & Spencer, Robinsons, Tangs, Isetan and Metrojaya and the maximum limit is RM3,000 per month based on the billing cycle
    • Complimentary unlimited access to the Plaza Premium Lounge in Kuala Lumpur International Airport (KLIA)
    • Enjoy up to 20% discount on Executive Screening Packages excluding consultation fees at selected hospitals
    • Enjoy 15% discount on walk-in rates for all hospitals and this is applicable to rates of RM120 and above
    • Travel Accident Insurance coverage of up to RM50,000
    • Purchase Protection coverage of up to RM10,000 per item or RM25,000 per occurrence

 

  • Enjoy 0% interest on instalment payment plan at all participating merchants

 

 

Citibank Business Platinum Card

    • Minimum monthly income: RM4,000
    • Interest rate: 15% per annum
    • Balance transfer: 2.99% per annum (one-time upfront fee)
    • Annual Fee: RM200
    • Late payment charges: 1% of outstanding balance or RM10 up to a maximum of RM100
    • Enjoy earning up to 1.2% cash back on overseas transaction with no limit in travelling, shopping, entertainment, dining and groceries
    • Enjoy earning up to 0.5% cash back on local transaction with no limit in travelling, shopping, entertainment, dining and groceries
    • Enjoy additional hotel deals and offer
    • Enjoy 20% discount off the total food bill or get a complimentary desert or wine when you spent at least RM500 or more in a single receipt at selected restaurants
    • Personal Accident insurance coverage of up to RM1,000,000 and travel inconvenience coverage

 

  • Enjoy 0% interest on instalment payment plan at all participating merchants

 

 

Citibank Clear Credit Card

    • Minimum monthly income: RM2,000
    • Interest rate: 15% per annum
    • Balance transfer: 2.99% per annum (one-time upfront fee)
    • Annual Fee: RM90
    • Late payment charges: 1% of outstanding balance or RM10 up to a maximum of RM100
    • Enjoy earning up to 3X Citi Rewards Points on shopping and dining transactions
    • Enjoy earning 1X Citi Rewards Points with every RM1 that you spent in dining, shopping, entertainment, groceries and utilities
    • Enjoy exclusive discounts at selected cinemas and Coffee Bean and Tea Leaf outlets

 

  • Enjoy 0% interest on instalment payment plan at all participating merchants

 

 

Citibank Cash Back Card

    • Minimum monthly income: RM3,000
    • Interest rate: 15% per annum
    • Balance transfer: 2.99% per annum (one-time upfront fee)
    • Annual Fee: RM127.20
    • Late payment charges: 1% of outstanding balance or RM10 up to a maximum of RM100
    • Enjoy up to 5% cash back on all retail spending in shopping, groceries, petrol, utilities, insurance and health
    • Enjoy various discounts at over 24,000 hotels, restaurants, retail outlets, boutiques and golf resorts worldwide
    • Enjoy up to 20% discount on healthcare packages at 20 participating hospitals
    • Enjoy 2% rebate when you are spending money in Watson, Guardian and Caring pharmacies
    • Enjoy 15% discount on walk-in rates for all hospital and this is applicable to rates of RM120 and above
    • Travel Accident Insurance coverage of up to RM100,000
    • Purchase Protection coverage of up to 30 days on eligible purchases

 

  • Enjoy 0% interest on instalment payment plan at all participating merchants

 

 

Citibank Cash Back Platinum

    • Minimum monthly income: RM5,000
    • Interest rate: 15% per annum
    • Balance transfer: 2.99% per annum (one-time upfront fee)
    • Annual Fee: RM206.70
    • Late payment charges: 1% of outstanding balance or RM10 up to a maximum of RM100
    • Enjoy up to 5% cash back on all retail spending in shopping, groceries, petrol, utilities, insurance and health
    • Enjoy various discounts at over 24,000 hotels, restaurants, retail outlets, boutiques and golf resorts worldwide
    • Enjoy up to 20% discount on healthcare packages at 20 participating hospitals
    • Enjoy 2% rebate when you are spending money in Watson, Guardian and Caring pharmacies
    • Enjoy 15% discount on walk-in rates for all hospital and this is applicable to rates of RM120 and above
    • You will also be given access to an exclusive 24-hour personal concierge when you are travelling
    • Travel Accident Insurance coverage of up to RM100,000
    • Purchase Protection coverage of up to 30 days on eligible purchases

 

  • Enjoy 0% interest on instalment payment plan at all participating merchants

 

 

Additional On-going Promotions

Citibank is currently giving out a 20” Limited Edition Condotti Luggage with Swarovski Crystals when you apply for a new Citibank credit card from now until 31st of December. You will also get a cash back of RM50 once your card has been approved. The Limited Condotti Luggage will be yours when you spend a minimum of RM1,500 within the first 60 days after your credit card has been approved. For detailed terms and conditions, kindly refer to Citibank Malaysia’s official website.

 

 

Bank Islam

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Bank Islam was the first Shariah based bank in Malaysia and South East Asia. The bank has been playing the leading role in developing Malaysia’s Islamic banking industry and has already provided technical assistance in setting up a few of the Islamic institutions in countries around Asian region such as Thailand, Indonesia and Sri Lanka. Islamic banking business is defined as a banking business with aims and operations that do not involve any element that is contrary to the Islamic religion. This business can be traced back to as early as before World War 2 when Muslims in Malaysia were already looking for an alternative financial system that will comply with the Shariah requirements. However, it was not until 1969 when the Pilgrims Management and Lembaga Urusan dan Tabung Haji or Fund Board was established. This was the first Islamic financial institutions in Malaysia during that time and its purpose was to encourage savings and investments among the Muslim community and also to help depositors to perform hajj.

Bank Islam was then established on 1st of July 1983 with the primary objective of assisting the financial needs of the Muslim community in Malaysia. The inception of Bank Islam was an effort of intense determination that was inspired by the Bumiputera Economic Congress that was held in 1980 and followed by Concept of Development in Islam that was held in 1981. The initiative was also coupled with the commitment and tireless effort that was put in by Tabung Haji and PERKIM, a non-governmental organization that is committed to taking care of the Muslim community’s welfare in Malaysia. Bank Islam was established with an RM500 million initial authorized capital and a paid in capital of RM79.9 million. Since then, Bank Islam has gradually increased the authorized paid up capital to RM2 billion and the paid in capital to RM563 million according to Wikipedia. Tun Dato’ Seri Dr Mahathir bin Mohamad, the former Prime Minister of Malaysia officiated the launch of Bank Islam and the official opening was also graced by YM Raja Tan Sri Mohar Raja Badiozaman, Bank Islam’s first Chairman and Dr. Abdul Halim Haji Ismail, Bank Islam’s first managing director.

During Bank Islam’s first year of operation, the bank only had 30 pioneer staffs and had to conduct its operations at a temporary headquarter located on the 1st floor of Kompleks Jemaah Haji in Subang, Selangor. Things went well and by the end of the first year, Bank Islam has already set up 4 operating branches in different states around Malaysia including Kuala Lumpur, Kuala Terengganu, Alor Setar and Kota Bahru and the total number of employees increased from 30 staffs to 272 staffs. Since then, Bank Islam has gradually extended its services to the non-Muslim community and came up with the Banking for All principle. However, in November 2005, Bank Islam reported a significant loss of RM480 million which was largely due to the non-performing loans from the Labuan’s offshore unit. Bank Islam did conduct an investigation on the loss but no other details were provided after that.

Today, there are more than 70 different types of innovative and sophisticated banking products and services that are based on Islamic principles offered by Bank Islam to the Muslim community and the non-Muslim community totalling more than 5 million customers. Bank Islam list of products and services range from savings, traditional financing to investment solutions that are exclusively catered to individual customers by fulfilling the fast-changing financial needs of modern day customers from all categories such as micro financing, capital market, wealth management and structured products.

In order to serve its customer base that is ever expanding, Bank Islam currently has 145 branches and more than 1,000 self-service terminals in Malaysia making it the widest dedicated Islamic Banking network in Malaysia. Bank Islam’s vision is to be the global leader in Islamic banking and it strives continuously provide the best service and catering to the different needs of customers.

As of this moment, the key people involved in Bank Islam are Dato’ Mohd Bakke Salleh as Chairman, Dato Sri Zukri Samat as managing director, Ustaz Dr. Ahmad as Syariah Chairman and Supervisory Council. Dubai Islamic Investment Group is also currently involved as they have taken a 40% stake in Bank Islam. Bank Islam’s headquarters is located on Level 32 of Menara Bank Islam in Kuala Lumpur.