Citibank Home Partner-i
Is a Shariah-compliant home financing that offers you savings and peace of mind with capped rates when rates increases.
- It is the first Islamic Home Financing product offered to the mass in Malaysia based on the concept of “Musharakah Mutanaqisah” or “Diminishing Musharakah”.
- You and the bank enter a “partnership” relationship by forming a joint venture to raise capital to acquire the property.
- You and the bank become joint-owner of the property and each will have its respective shares based on ratio equivalent to the capital raised.
- The bank will lease its share to you and by making monthly payment over an agreed period of time, you will gradually take ownership of the bank’s share until you eventually own 100% of the property.
- Capped Rates : protect you from increasing rates, yet allow you to enjoy low rates when Base Financing Rates (BFR) is low.
- Flexible Payment : whether it is early or extra payments in any amount at any time. No notice required, no additional fees charged.
- Daily Calculation : helps provide immediate savings on any early or extra payments made.
- Stamp Duty Discount : Enjoy 20% reduction*.
- Takaful Benefit : Annual Profit Distribution (if any) if no claims are made during the covered period.
* Terms & conditions apply. The financing approval is subject to the Bank’s credit review. The rates on this financing may change according to the changes in Base Financing Rate (BFR).