FINANCIAL BENEFITS I N T E R N A T I O N A L I S L A M I C U N I V E R S I T Y M A L A Y S I A
FINANCING FACILITIES i)Housing Financing ii)Motor Vehicle Financing iii)Computer Financing Types of
Eligibility & Conditions COMPUTER FINANCING All staff are eligible ( Permanent/Contract) Minimum service 6 months Financing repayment 48months/ or remaining contract (which ever shorter) Total financing up to RM 5,000.00 Allowable type of purchase: i) Laptop ii) Desktop Computer iii) Smartphone iv) Tablet
Eligibility & Conditions In the normal circumstances, the purchase must be made with IIUM registered vendor through Letter of Undertaking. For reimbursement purposes, only payment through credit/debit card is accepted. The staff can apply a new computer financing application once in every three (3) years. Provided the previous application has been fully settled. Any purchase of more than one items must not under the same category of financing. COMPUTER FINANCING PIC : Sr. Nabi’ah (03 6421 3873)
VEHICLE FINANCING T Y P E O F V E H I C L E F I N A N C I N G 1) Motorcar Financing 2) Motorcycle Financing PIC : Sr. Nurulhuda Musneb (03 6421 3870) & Sr. Nabi’ah (03 6421 3873)
Eligibility & Conditions VEHICLE FINANCING 1) Motorcar Permanent staff Minimum 1 year in service Minimum salary of RM 1,620.00 Brand New (9 years repayment period) 2nd hand motorcar* (8 years repayment period) * life limit is 5 years and below from date of registration Panel of Financial Institutions i) Bank Muamalat Malaysia Berhad ii) Bank Kerjasama Rakyat Malaysia Berhad iii) AmIslamic Bank Berhad iv) Bank Islam Malaysia Berhad 2) Motorcycle Permanent staff New motorcycle only Maximum financing of RM 10,000.00 Maximum repayment period - 5 years Needs 2 guarantors
HOUSING FINANCING P I C : S R . W A N K A M S H A H ( 0 3 6 4 2 1 3 1 8 7 )
STAFF BENEFIT ON IIUM SUBSIDIZED HOUSING SCHEME Permanent staff Has served 1 year Has been confirmed in service IIUM will subsidize the profit rate beyond 4% i.e Bank financing rate 4.90%, thus IIUM will subsidize 0.9% Limit of Instalment Deduction Estimation of deduction shall not exceed 60% of basic salary and fixed allowances Repayment period of 35 years or up to retirement age whichever earlier Eligibility & Conditions
Eligibility & Conditions COMPUTER ALLOWANCE Grade 41 and above Permanent/Contract Maximum of RM 2,000.00 on reimbursement basis Once in 5 years starting date of recent reimbursement made Does not entitled to claim tax deduction under the Income Tax Act 1967 “First come first serve basis” subject to budget availability Priority for disbursement as follows: i) New recruited staff ii) Staff who reported duty from study leave