Fully Secured Bank Guarantee-i (BG-i 1:1)
An irrevocable written obligation issued by the Bank to assure payment in case of demand by beneficiary.
This program was introduced with the purpose to simplify and expedite process of approval and issuance of fully secured Bank Guarantee-i (BG-i).
Types of Guarantee Offered
- Performance Guarantee
- Financial Guarantee
- BG-i in Ringgit Malaysia (RM) – BG-i limit up to RM5.0 million
- BG-i in Foreign Currencies – BG-i limit up to RM1.0 million equivalent
- BG-i in Ringgit Malaysia (RM) – no capping
- BG-i in Foreign Currencies – capped up to 1 year only
- 1.5% p.a. of BG-i amount or RM300 (whichever is higher) Financial Guarantee
- 1.75% p.a. of BG-i amount or RM300 (whichever is higher)
- Fast approval and fast issuance of BG-i
- To facilitate and expedite customers’ demand for BG-i especially those with no banking facilities
- All business entities
How to apply