{"id":11236,"date":"2025-03-21T09:00:17","date_gmt":"2025-03-21T01:00:17","guid":{"rendered":"https:\/\/division.iium.edu.my\/finance\/?page_id=11236"},"modified":"2025-03-21T12:57:19","modified_gmt":"2025-03-21T04:57:19","slug":"staff-financing","status":"publish","type":"page","link":"https:\/\/division.iium.edu.my\/finance\/staff-financing\/","title":{"rendered":"Staff Financing"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"11236\" class=\"elementor elementor-11236\">\n\t\t\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-top-section elementor-element elementor-element-7a45031a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-eae-slider=\"66347\" data-id=\"7a45031a\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6566410f\" data-eae-slider=\"89637\" data-id=\"6566410f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-inner-section elementor-element elementor-element-2ded9f59 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-eae-slider=\"77112\" data-id=\"2ded9f59\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-6d1e190d\" data-eae-slider=\"25000\" data-id=\"6d1e190d\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4c07bd86 elementor-widget elementor-widget-elementskit-heading\" data-id=\"4c07bd86\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"elementskit-heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"ekit-wid-con\" ><div class=\"ekit-heading elementskit-section-title-wraper text_left   ekit_heading_tablet-   ekit_heading_mobile-\"><h2 class=\"ekit-heading--title elementskit-section-title \">IIUM Staff Financing<\/h2>\t\t\t\t<div class='ekit-heading__description'>\n\t\t\t\t\t<p>Only IIUM staff under <strong>permanent<\/strong> and <strong>contract <\/strong>status are eligible. Temporary contract and part-time staff are not eligible. For more information, contact the <strong>Financing Department, Finance Division<\/strong>.<\/p>\n<div class=\"section\">\u00a0<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-57ef9e53\" data-eae-slider=\"37024\" data-id=\"57ef9e53\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t<div class=\"has_eae_slider elementor-element elementor-element-29358f5 e-flex e-con-boxed e-con e-parent\" data-eae-slider=\"18906\" data-id=\"29358f5\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d8db066 elementor-widget elementor-widget-heading\" data-id=\"d8db066\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">COMPUTER FINANCING<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c499c83 elementor-widget elementor-widget-text-editor\" data-id=\"c499c83\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Who is eligible to apply for computer financing?<\/strong><\/p><p>IIUM Staff serving under permanent and contract status only. Staff serving under temporary contract and part-time status are not eligible for consideration. \u00a0You may liaise with our Financing Department, Finance division for further information.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d9d27a8 elementor-widget elementor-widget-text-editor\" data-id=\"d9d27a8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>What is meant by purchasing \/ the purchase of computers under computer financing?<\/strong><\/p><p>Purchasing \/ The purchase of computers means the purchase of computers including their hardware and software or the purchase of hardware and software to enhance the computer at the time of purchase.<\/p><p>This financing amount can be used to purchase new computers which include personal computers, and laptops as well as the purchase of printers and scanners. The purchase of smartphones and tablets are also being allowed and considered part of the financing amount.<\/p><p>\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5dd7258 elementor-widget elementor-widget-text-editor\" data-id=\"5dd7258\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>What are the basic qualifying requirements for an officer to apply for a computer financing?<\/strong><\/p><ol><li>the monthly installment deduction amount does not exceed 1\/3 of basic salary.<\/li><li>the total deduction including deductions for computer financing does not exceed 60% of the total basic salary and monthly allowance<\/li><\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5f3f99e elementor-widget elementor-widget-text-editor\" data-id=\"5f3f99e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>What is the maximum limit of eligibility for computer financing?<\/strong><\/p><p>The maximum financing amount is RM5,000<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1951cc2 elementor-widget elementor-widget-text-editor\" data-id=\"1951cc2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>How long is the allowable period for maximum repayment?<\/strong><\/p><p>The allowable period for maximum repayment is 48 months.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4a34bb6 elementor-widget elementor-widget-text-editor\" data-id=\"4a34bb6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>What is the profit rate or percentage imposed on the approved financing amount?<\/strong><\/p><p>University does not impose any profit according to the financing amount, only administrative cost amounting RM 50 will be imposed for every approved application regardless of financing amount and financing tenure.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4ee5650 elementor-widget elementor-widget-text-editor\" data-id=\"4ee5650\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Can an officer make a second computer financing application?<\/strong><\/p><p>Yes, the officer is allowed to make a new computer financing once in every three (3) years. The new application can only be approved after three (3) years calculated from the date of the previous approval and provided the present financing facility has been settled.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5e3af71 elementor-widget elementor-widget-text-editor\" data-id=\"5e3af71\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>What is the procedure for making an early settlement for the computer financing balance?<\/strong><\/p><ul><li>Obtain confirmation of the financing balance through the balance inquiry process for the lump sum settlement with the Financing Department, Finance Division.<\/li><li>Subsequently, the borrower will need to make full payment based on the verified balance and comply with the specified date period by direct bank-in \/ bank draft payable to \u201cUIAM Operating Account\u201d.<\/li><li>-Furnish the original copy of bank-in slips or proof of payment for electronic transfer to the Financing Department, Finance Division.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-efb4dbd elementor-widget elementor-widget-heading\" data-id=\"efb4dbd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">VEHICLE FINANCING<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a6e2ab5 elementor-widget elementor-widget-text-editor\" data-id=\"a6e2ab5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Who is eligible to apply for vehicle financing?<\/strong><\/p><p>IIUM Staff serving under permanent and contract status only. Staff serving under temporary contract and part-time status are not eligible for consideration.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0fddbe9 elementor-widget elementor-widget-text-editor\" data-id=\"0fddbe9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>What is the existing package or category under vehicle financing?<\/strong><\/p><p>A) Financing Facility using University Fund<br \/>i. Motorcycle Financing<br \/>&#8211; apply to all qualified staff.<br \/>ii. Car Financing<br \/>&#8211; only applicable to international\/foreign staff and subject to the contract period.<\/p><p>B) Subsidize Financing Schemes with Financial Institutions.<br \/>i. Car Financing<br \/>&#8211; apply to all Malaysian staff.<br \/>&#8211; the list of bank panels under the scheme: Bank Muamalat Malaysia Berhad, Bank Islam Malaysia Berhad, AmBank Islamic Berhad and Bank Kerjasama Rakyat Malaysia.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8cf19d3 elementor-widget elementor-widget-text-editor\" data-id=\"8cf19d3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>What are the basic qualifying requirements for an officer to apply for vehicle financing?<\/strong><\/p><ol><li>The monthly instalment deduction amount does not exceed 1\/3 of the basic salary.<\/li><li>The total deduction including deductions for vehicle financing does not exceed 60% of the total basic salary and monthly allowance.<\/li><li>The officer must have a basic salary of at least RM1,620 for a car purchase.<\/li><li>Require 2 guarantors among IIUM staff for motorcycle purchase.<\/li><li>Possess a valid driving license.<\/li><\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-787b6b9 elementor-widget elementor-widget-text-editor\" data-id=\"787b6b9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>What is the maximum limit of eligibility for vehicle financing?<\/strong><\/p><ol><li>The maximum financing amount is as follows:<ul><li>Purchase of Motorcycle up to the amount RM10,000.00<\/li><li>Car Purchase is according to job position.<\/li><\/ul><\/li><\/ol><table><tbody><tr><td width=\"227\"><strong>Position<\/strong><\/td><td width=\"225\"><strong>Financing Limit Amount<\/strong><\/td><\/tr><tr><td width=\"227\">a) Special Grade (VK7 and above)<\/td><td width=\"225\">RM 70,000.00<\/td><\/tr><tr><td width=\"227\">b) Professional &amp; Management<\/td><td width=\"225\">RM 65,000.00<\/td><\/tr><tr><td width=\"227\">c) Support Group<\/td><td width=\"225\">RM 55,000.00<\/td><\/tr><\/tbody><\/table>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-68c79d5 elementor-widget elementor-widget-text-editor\" data-id=\"68c79d5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>How long is the allowable period for maximum repayment?<\/strong><\/p><table><tbody><tr><td width=\"227\"><p><strong>Type of Vehicle<\/strong><\/p><\/td><td width=\"225\"><p><strong>Period<\/strong><\/p><\/td><\/tr><tr><td width=\"227\"><p>a) New Car<\/p><\/td><td width=\"225\"><p>Not exceeding 108 months<\/p><\/td><\/tr><tr><td width=\"227\"><p>b) Used Car<\/p><\/td><td width=\"225\"><p>Not exceeding 96 months<\/p><\/td><\/tr><tr><td width=\"227\"><p>c) New Motorcycle<\/p><\/td><td width=\"225\"><p>Not exceeding 60 months<\/p><\/td><\/tr><\/tbody><\/table>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b67a95b elementor-widget elementor-widget-text-editor\" data-id=\"b67a95b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>I have obtained financing approval from the panel bank for the Subsidize Financing Scheme with the Financial Institution, what should I do?<\/strong><\/p><p>After securing the financing approval from the panel bank, you need to fill up the IIUM Financing form to enjoy the subsidy financing charges for the monthly instalment. You may liaise with our Financing Department, Finance division for further information.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b1e056f elementor-widget elementor-widget-text-editor\" data-id=\"b1e056f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>How did the subsidy financing charges work under the Subsidize Financing Scheme with the Financial Institution?<\/strong><\/p><p>The Financing Department, Finance Division will calculate the subsidy portion according to the staff eligibility and the University will pay part of the financing cost charges for the monthly repayment amount to the bank.<\/p><p>This means that the salary deduction for staff will be lower than the amount of the repayment stated in the bank offer letter. Next, the University will make the payment as per the amount stated in the bank offer letter.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f541653 elementor-widget elementor-widget-text-editor\" data-id=\"f541653\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Can an officer make a second vehicle financing application?<\/strong><\/p><p>Yes, the officer is allowed to make a new vehicle financing once every five (5) years. The new application can only be approved after five (5) years calculated from the date of the previous approval and provided the present financing facility has been settled<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5a5a7b0 elementor-widget elementor-widget-text-editor\" data-id=\"5a5a7b0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>What is the procedure for making an early settlement for the vehicle financing balance?<\/strong><\/p><p>A) Financing Facility using University Fund<\/p><p>&#8211; Obtain confirmation of the financing balance through the balance inquiry process for the lump sum settlement with the Financing Department, Finance Division.<\/p><p>&#8211; Subsequently, the borrower will need to make full payment based on the verified balance and comply with the specified date period by direct bank-in \/ bank draft payable to \u201cUIAM Operating Account\u201d.<\/p><p>&#8211; Furnish the original copy of bank-in slips or proof of payment for electronic transfer tothe\u00a0 Financing Department, Finance Division.<\/p><p>B) Subsidize Financing Scheme with Financial Institution<br \/>&#8211; Staff need to liaise directly with the respective panel bank for the early settlement procedure.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-92ece86 elementor-widget elementor-widget-heading\" data-id=\"92ece86\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">HOUSING FINANCING<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e0858fe elementor-widget elementor-widget-text-editor\" data-id=\"e0858fe\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Who is eligible to apply for housing financing?<\/strong><\/p><p>IIUM Staff serving under permanent status, has served for at least one year and has confirmed in service.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-005f4d6 elementor-widget elementor-widget-text-editor\" data-id=\"005f4d6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>What is the existing package under housing financing?<\/strong><\/p><p>Currently, the University offers a subsidized housing financing scheme with the Financial Institution. To facilitate the process of housing financing, IIUM has appointed four (4) panel financial institutions. The fund originates from the respective Financial Institution itself.<br \/>The list of 4-panel banks is as follows:<br \/>a) Bank Muamalat Malaysia Berhad<br \/>b) Bank Islam Malaysia Berhad<br \/>c) AmBank Islamic Berhad<br \/>d) Bank Kerjasama Rakyat Malaysia.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6aab8e8 elementor-widget elementor-widget-text-editor\" data-id=\"6aab8e8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>What is the financing rate under the subsidized housing financing scheme?<\/strong><\/p><p>The financing rate is 4% per annum based on reducing balance. IIUM will subsidize the profit rate for portions exceeding \/ beyond 4%. For example, if the bank approves the rate at 4.90%, thus IIUM will subsidize the rate of 0.90%<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0d8b7a1 elementor-widget elementor-widget-text-editor\" data-id=\"0d8b7a1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>What are the basic qualifying requirements for an officer to apply for housing financing?<\/strong><\/p><p>i. The monthly instalment repayment amount does not exceed 60% of the total basic salary and monthly allowance.<\/p><p>ii. The total deduction in the payslip including deductions for housing financing does not exceed 80% of the total basic salary and monthly allowance.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ffdd817 elementor-widget elementor-widget-text-editor\" data-id=\"ffdd817\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>What is the maximum limit of eligibility for housing financing?<\/strong><\/p><p>The range amount of approval is as follows:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9b7c933 elementor-widget elementor-widget-image\" data-id=\"9b7c933\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"493\" height=\"511\" src=\"https:\/\/division.iium.edu.my\/finance\/wp-content\/uploads\/sites\/6\/2025\/03\/loan.png\" class=\"attachment-large size-large wp-image-11870\" alt=\"\" srcset=\"https:\/\/division.iium.edu.my\/finance\/wp-content\/uploads\/sites\/6\/2025\/03\/loan.png 493w, https:\/\/division.iium.edu.my\/finance\/wp-content\/uploads\/sites\/6\/2025\/03\/loan-289x300.png 289w\" sizes=\"(max-width: 493px) 100vw, 493px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6333656 elementor-widget elementor-widget-text-editor\" data-id=\"6333656\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>I have obtained financing approval from the panel bank for the Subsidize Financing Scheme with the Financial Institution, what should I do?<\/strong><\/p><p>After securing the financing approval from the panel bank, you need to fill up the IIUM Financing form to enjoy the subsidy financing charges for the monthly instalment. You may liaise with our Financing Department, Finance division for further information.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f5717ca elementor-widget elementor-widget-text-editor\" data-id=\"f5717ca\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>How did the subsidy financing charges work under the Subsidized Financing Scheme with the Financial Institution?<\/strong><\/p><p>The Financing Department, Finance Division will calculate the subsidy portion according to the staff eligibility and the University will pay part of the financing cost charges for the monthly repayment amount to the bank.<\/p><p>This means that the salary deduction for staff will be lower than the amount of repayment stated in the bank offer letter. Next, the University will make the payment as per the amount stated in the bank offer letter.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-102437e elementor-widget elementor-widget-text-editor\" data-id=\"102437e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Can an officer make a second housing financing application?<\/strong><\/p><p>Yes, the officer is allowed to make two times facility \/ application over the service period. The new application can only be approved provided the first financing facility has been settled.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b4fae92 elementor-widget elementor-widget-text-editor\" data-id=\"b4fae92\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>What is the maximum repayment period under subsidize housing financing scheme?<\/strong><\/p><table><tbody><tr><td width=\"247\"><p><strong>Category of Application<\/strong><\/p><\/td><td width=\"273\"><p><strong>Maximum Years<\/strong><\/p><\/td><\/tr><tr><td width=\"247\"><p>a) 1<sup>st<\/sup> Financing Facility<\/p><p>\u00a0<\/p><\/td><td width=\"273\"><p><em>35 years or<\/em><\/p><p><em>up to retirement age whichever is earlier<\/em><\/p><\/td><\/tr><tr><td width=\"247\"><p>b) 2<sup>nd<\/sup> Financing Facility<\/p><p>\u00a0<\/p><\/td><td width=\"273\"><p><em>30 years or<\/em><\/p><p><em>up to retirement age whichever is earlier<\/em><\/p><\/td><\/tr><\/tbody><\/table>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5b6943b elementor-widget elementor-widget-text-editor\" data-id=\"5b6943b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>I just realized, the approval amount and repayment period approved by the panel bank is beyond my entitlement that specified in IIUM eligibility and conditions. Does it mean my application will be rejected by the Finance Division?<\/strong><\/p><p>Your application will not be rejected. However, the finance division will calculate the subsidy portion up to the maximum entitlement only.<\/p><p>University subsidizes the term charges imposed by financial institutions over and above the rate of 4% for amounts up to the maximum eligibility. Any amount above the eligibility will be charged at the bank rate.<\/p><p>If the financing repayment period is more than the eligible period (35 years), the subsidy will only be applicable up to the eligible period. Staff is responsible for the full rate after the eligible period ends.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ec8298b elementor-widget elementor-widget-text-editor\" data-id=\"ec8298b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>My current entitlement for financing amount is RM 750,000 and 10 years ago I already utilized my first house facility with the financing amount RM 250,000. Does it mean my 2nd application entitlement will be RM 750,000?<\/strong><\/p><p>No. Your entitlement will be the difference between <strong>\u201ccurrent entitlement\u201d<\/strong> and \u201c<strong>1<sup>st<\/sup> Financing amount approval\u201d<\/strong>. In your situation, you are now entitled to up to RM 500,000 for 2<sup>nd<\/sup> application approval.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-776577d elementor-widget elementor-widget-text-editor\" data-id=\"776577d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>The bank officer advised me to submit a financing application through a joint name with my husband but he is not IIUM staff, can I apply for the subsidy scheme in this situation?<\/strong><\/p><p>Yes, you can apply the subsidy scheme under joint name financing circumstances provided the repayment of the instalment shall be made by way of IIUM salary deduction.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-top-section elementor-element elementor-element-1bf4e1aa elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-eae-slider=\"1592\" data-id=\"1bf4e1aa\" data-element_type=\"section\" data-e-type=\"section\" id=\"xs_business_blog\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3cfa3da7\" data-eae-slider=\"20138\" data-id=\"3cfa3da7\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-inner-section elementor-element elementor-element-722aad95 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-eae-slider=\"83199\" data-id=\"722aad95\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-2939df68\" data-eae-slider=\"61798\" data-id=\"2939df68\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-68b83a74 elementor-widget elementor-widget-spacer\" data-id=\"68b83a74\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-7b698d6f\" data-eae-slider=\"3835\" data-id=\"7b698d6f\" data-element_type=\"column\" data-e-type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-70d4352a elementor-widget elementor-widget-elementskit-heading\" data-id=\"70d4352a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"elementskit-heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"ekit-wid-con\" ><div class=\"ekit-heading elementskit-section-title-wraper text_left   ekit_heading_tablet-   ekit_heading_mobile-\"><h2 class=\"ekit-heading--title elementskit-section-title \">Any inqury contact us at below<\/h2><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2a007a1 elementor-widget elementor-widget-elementskit-heading\" data-id=\"2a007a1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"elementskit-heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"ekit-wid-con\" ><div class=\"ekit-heading elementskit-section-title-wraper text_left   ekit_heading_tablet-   ekit_heading_mobile- ekit-heading__title-in-left\">\t\t\t\t<div class='ekit-heading__title-wrapper'>\n\t\t\t<a href=\"https:\/\/division.iium.edu.my\/finance\/accounts-department\/\"><h3 class=\"ekit-heading--title elementskit-section-title  ekit-heading__title-has-border start\">Nabi\u2019Ah Binti Said<\/h3><\/a>\t\t\t\t<\/div>\n\t\t\t\t<div class='ekit-heading__content-wrapper'>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3bbcd7c elementor-widget elementor-widget-text-editor\" data-id=\"3bbcd7c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>03 &#8211; 6421 3873<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ad74bce elementor-widget elementor-widget-elementskit-heading\" data-id=\"ad74bce\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"elementskit-heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"ekit-wid-con\" ><div class=\"ekit-heading elementskit-section-title-wraper text_left   ekit_heading_tablet-   ekit_heading_mobile- ekit-heading__title-in-left\">\t\t\t\t<div class='ekit-heading__title-wrapper'>\n\t\t\t<a href=\"https:\/\/division.iium.edu.my\/finance\/accounts-department\/\"><h3 class=\"ekit-heading--title elementskit-section-title  ekit-heading__title-has-border start\">Siti Nurulhuda Binti Musneb<\/h3><\/a>\t\t\t\t<\/div>\n\t\t\t\t<div class='ekit-heading__content-wrapper'>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7a096db elementor-widget elementor-widget-text-editor\" data-id=\"7a096db\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>03 &#8211; 6421 3870<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2732cc2 elementor-widget elementor-widget-elementskit-heading\" data-id=\"2732cc2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"elementskit-heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"ekit-wid-con\" ><div class=\"ekit-heading elementskit-section-title-wraper text_left   ekit_heading_tablet-   ekit_heading_mobile- ekit-heading__title-in-left\">\t\t\t\t<div class='ekit-heading__title-wrapper'>\n\t\t\t<a href=\"https:\/\/division.iium.edu.my\/finance\/accounts-department\/\"><h3 class=\"ekit-heading--title elementskit-section-title  ekit-heading__title-has-border start\">Wan Kamshah Binti Jusoh @ Yunus<\/h3><\/a>\t\t\t\t<\/div>\n\t\t\t\t<div class='ekit-heading__content-wrapper'>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1db5646 elementor-widget elementor-widget-text-editor\" data-id=\"1db5646\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>03 &#8211; 6421 3187<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>IIUM Staff Financing Only IIUM staff under permanent and contract status are eligible. Temporary contract and part-time staff are not eligible. For more information, contact the Financing Department, Finance Division. \u00a0 COMPUTER FINANCING Who is eligible to apply for computer financing? IIUM Staff serving under permanent and contract status only. Staff serving under temporary contract &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/division.iium.edu.my\/finance\/staff-financing\/\"> <span class=\"screen-reader-text\">Staff Financing<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":14,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","footnotes":""},"class_list":["post-11236","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/division.iium.edu.my\/finance\/wp-json\/wp\/v2\/pages\/11236","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/division.iium.edu.my\/finance\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/division.iium.edu.my\/finance\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/division.iium.edu.my\/finance\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/division.iium.edu.my\/finance\/wp-json\/wp\/v2\/comments?post=11236"}],"version-history":[{"count":77,"href":"https:\/\/division.iium.edu.my\/finance\/wp-json\/wp\/v2\/pages\/11236\/revisions"}],"predecessor-version":[{"id":11888,"href":"https:\/\/division.iium.edu.my\/finance\/wp-json\/wp\/v2\/pages\/11236\/revisions\/11888"}],"wp:attachment":[{"href":"https:\/\/division.iium.edu.my\/finance\/wp-json\/wp\/v2\/media?parent=11236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}