OCBC Al-Amin Manarat Home-i

OCBC Bank Logo

OCBC Al-Amin offers simple and easily accessible Shariah compliant financing products that have your best interest in mind. Manarat Home-i is a competitive fixed / floating rate home-financing based on the Shariah concept of Musharakah Mutanaqisah (Diminishing Partnership) and Ijarah Muntahiah bi Al-Tamlik (leasing ending with Ownership).

Under this structure, the bank purchases the property from the customer and subsequently the bank leases the property to the customer under the Ijarah contract.

The customer pays the rental to the bank and at the end of the financing tenure, the bank sells the property at nominal value to the customer.

Features

• Maximum* 35 years or up to age 70, whichever is earlier

• Daily rest calculation

Benefits

• Competitive rate pegged to Base Financing Rate (BFR)

• 20% stamp duty waiver on financing documents on new home purchases & sub-sale/ unencumbered property financing, in accordance with relevant Stamp Duty remission order

* Terms and conditions apply

How to Apply / Documents Required

• Photocopy of I/C of applicant

• Latest 3 months salary slips

• Latest J / EA Form

• Confirmation letter from employer

• Original S&P Agreement / booking sheet / down payment receipt

• Business Registration, Form 24, Form 49, Form A or B, Form D (for self employed which ever applicable)

• Latest 3 months Bank Statement

• Any additional documents if required by the Bank

NOTE: Please be advised that the product mentioned above may change from time to time, as the market and industry evolve.

For further information, please call OCBC Bank Customer Service Center Tel: +603 8317 5000, or visit the nearest OCBC Bank branch today.

OCBC Bank