Bank Islam Credit Card Interest Rate
The islamic credit card is defined as a means of electronic payment including a deferred payment respecting the principles of islamic law and guided by the rules of islamic finance which bans any interest bearing revolving credit facility.
Bank islam credit card interest rate. Loan tenure up to 10 years. Credit card all credit cards. Fees and charges bank islam credit card i bank islam card centre effective from 2 10 2019 page 1 subject card type mastercard primary rm supplementary rm annual fees world 777 00 333 00 platinum 388 00 150 00 gold 130 00 60 00 card type visa primary rm supplementary rm infinite 777 00 333 00 platinum 388 00 150 00. This card is completely free from any riba or gharar.
Compare them all and apply online. Bank islam will never request for internet banking account updating via e mail or disclosure of customers personal identification number login id password and i access code to third parties under any circumstance. 6 8 p a flat 9 10 years. Bank islam card bic is the first purely shariah contract based credit card to be offered to muslims and non muslims in malaysia.
The main differences between islamic credit cards and conventional credit cards are the prohibition of gharar and riba gharar is overcharging while riba is interest. Bank islam personal financing i package offers starting fixed interest rate from 4 99 p a approved loan amount of up to rm200 000 and max. Personal financing non package. Deposit type rates per annum general saver.
Riba is usually translated as interest which means an extra amount charged in transactions dealing with silver gold or money. Building on the strength of that foundation bank islam now offers a range of credit cards that cater to everyone s needs with classic gold and platinum mastercards that give you unlimited cashback on every single purchase. Dont act upon spoof e mail. Flat 4 8 years.
Islamic banking 101 so what makes a credit card islamic. Profit rate 13 5 p a. Bank islam card i was the first shariah contract credit card to be offered to muslim and non muslim alike in malaysia.