Sun Gate Credit Personal Financing-i
A Shariah-compliant personal financing without collateral or a guarantor. Borrow from RM500 to RM50,000, with a fixed profit rate for manageable repayments.
Calculate your monthly repayment
Fees and Charges
Comparing and applying through CompareHero is free. Any fees, charges, interest rates, and final loan terms are set by the licensed lender.
Eligibility
- Salaried employee
- Your valid IC (both sides)
- Latest 3 months salary slip
- Latest 3 months bank statement
- Latest 12 months EPF statement
- Latest 1 month utility bill
Loan Repayment Table
| Financing Amount | Financing Tenure | Min. Income | Profit Rate |
|---|---|---|---|
| RM 500 - RM 50,000 | 12 - 36 months | min. RM 20,400 | 18.00% p.a. |
Features
Shariah-compliant personal financing via Commodity Murabahah (Tawarruq)
Borrow from RM500 to RM50,000
Fixed profit rate from day one
No collateral and no guarantor required
Flexible repayment of up to 36 months
Early settlement with possible Ibra' (rebate)
Fast approval in as little as one day
Terms and Conditions
Product Review by CompareHero
What is Sun Gate Credit Personal Financing-i?
It is a Shariah-compliant, unsecured personal financing from Sun Gate Credit Sdn Bhd, a licensed moneylender in Malaysia (KPKT licence WL6366/14/01-6/150526 for the Gombak branch). It runs on the Commodity Murabahah (Tawarruq) structure.
What is the concept of Commodity Murabahah ("Tawarruq")?
This is the Shariah contract behind how your financing works. Sun Gate buys a Shariah-compliant commodity → sells it to you at a fixed price that already includes their profit → sells that same commodity to a third party for cash → the cash gets paid into your account.
No profit is involved at any step. The profit is locked into the price from day one, so what you owe doesn't change no matter how long you take to repay.
What can you use it for?
The financing is available for Shariah-compliant activities or personal purposes, such as emergency expenses, medical costs, home repairs, or other personal needs. The one rule is that it can't go toward anything non-halal.
What are the applicable fees?
A few fees apply on top of your financing:
- Stamp Duty: In accordance with the Stamp Duty Act 1949 (Revised 1989)
- Transaction Fee: 1% of the approved financing amount, capped at RM20
- Processing Fee: Subject to agreement
- Wakalah Fee (Agent): RM25
- Late payment charges: 8% per annum on the amount due
You are required to pay all costs (if any) to Sun Gate Credit for the preparation and registration of securities documents that have been incurred if you decide to cancel the approved financing facility.
Can I settle the financing early?
Yes. You can pay off the full amount any time before your tenure ends, as long as you give Sun Gate Credit at least 30 days' written notice first. Sun Gate Credit may grant an Ibra' (rebate), but this may be considered on a case-by-case basis.
What happens if I miss a payment?
Late payment charges will be applied from the day your payment is overdue, at 8% per annum. This splits into two parts: Ta'widh (compensation fee) and Gharamah (penalty).
Is Takaful coverage required?
No. Takaful is optional for this financing.
Who can apply?
Any Malaysian citizens aged at least 21, earning a minimum monthly income of RM1,700, are eligible to apply.
What are the required documents?
Get these ready before you apply:
- Latest 3 months' salary slips
- Latest 3 months' bank statements
- Latest 12 months' EPF statements
- A recent utility bill (1 month)
- Your valid IC (both sides)
How do I contact Sun Gate Credit for details?
Gombak Branch
No. 36A, Jalan Jernai 3, Medan Idaman, Batu 5, Gombak, Kuala Lumpur
Licence No.: WL6366/14/01-6/150526
Office Tel: +603 4024 8688
WhatsApp: +6010 240 0028
Email: [email protected]
Sun Gate Credit Sdn Bhd (Registration No. 201701039415 (1253586-M))