SME Term Deposit Tawarruq Extra Financing-i (SME TDT XTRA FIN)
A financing program for SME designed to finance Working Capital Requirements (WCR), secured against Bank Islam Term Deposit Tawarruq (TDT)
Eligibility
- For Private Limited Company (Sdn Bhd), Sole-Proprietorship, Partnership, and Professional Service Providers that fall within SME definition.
- Business in operation at least three (3) years and profitable for the past two (2) years.
- Open to customers from all sectors EXCEPT construction, investment holdings, non-operation company, and property developers.
- Registered with the Companies Commission of Malaysia (SSM), or authorities/district offices in Sabah and Sarawak, or respective statutory bodies for professional service providers.
- Shareholding by Public Listed Companies and Government Linked Companies (if any) in the SMEs shall not exceed 20%.
- Malaysians residing in Malaysia that hold a minimum of 51% shareholding / ownership in the SMEs.
Purpose of Financing
- Working Capital Requirement (WCR)
Financing Amount
Sdn. Bhd.:
- Min: RM100,000
- Max: RM5.0 million
- Min: RM100,000
- Max: RM1.0 million
*Eligible for Option A only.
Margin of Finance
Option A:
- 100% financing from Term Deposit amount (1:1)
- 150% financing from Term Deposit amount (150% MOF)
- 120% financing from Term Deposit amount (120% MOF)
Financing Tenure
- Business Financing-i: Up to seven (7) years
- Business Cash Line-i: One (1) year subject to annual review
- Multi Trade Facility: As per respective trade products
- Foreign Exchange Contract-i: Up to six (6) months or one (1) year
Security / Collateral
1st/*3rd Party Term Deposit Tawarruq on lien to Bank Islam will be taken as collateral.
*The registered individual owner of the Term Deposit Tawarruq must be the business owner, partner, or directorProduct Disclosure Sheet (PDS)
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