fsa2 mbsb bank com
MBSB Bank Berhad has launched a new support facility, the Ihsan-i Account 2 Support Facility (FSA2), to provide financing options for Malaysian EPF members between the ages of 40 and 54. FSA2 is based on the shariah concept of Tawarruq, which involves purchasing and selling commodities to create liquidity. The facility offers a range of benefits, including a competitive profit rate, flexible payment options, and fast approval through an online application process.
To be eligible for FSA2, EPF members must have a minimum of RM3,000 savings in Account 2 balance and be a registered i-Akaun holder with EPF. The financing amount ranges from RM3,000 to RM50,000, with a tenure of 2 to 10 years. The profit rate for FSA2 is competitive, at SBR + 1.75% p.a., with a ceiling rate of 15% p.a.
One of the most significant advantages of FSA2 is the fast approval process through an online application system. EPF members can apply for financing through the bank's website and receive approval within a short period. Additionally, there are no early settlement charges, providing flexibility for EPF members who wish to settle their financing early. This feature is particularly useful for those who may experience a change in their financial circumstances or want to clear their debt as soon as possible.
The payment methods for FSA2 are also convenient. Financing payments can be made at any of MBSB Bank's nationwide branches or electronically via Interbank Giro/Instant Transfer or Standing Instruction/Auto Debit. This means that EPF members can make payments from the comfort of their homes or visit the bank's branches for assistance.
FSA2 also comes with several documents that EPF members can download from MBSB Bank's website. These include the Product Disclosure Sheet, Payment Table, and Terms and Conditions. It is essential to read and understand these documents before applying for FSA2 to ensure that EPF members understand their rights and obligations. Additionally, MBSB Bank provides a list of fees and charges associated with FSA2, ensuring transparency in the financing process.
In conclusion, FSA2 is an excellent financing option for Malaysian EPF members between the ages of 40 and 54 who require financial assistance. The facility provides a competitive profit rate, flexible payment options, and a fast approval process through an online application system. With no early settlement charges, EPF members have the flexibility to settle their financing early. By visiting MBSB Bank's website, EPF members can learn more about FSA2's eligibility requirements and apply online.