No.

Features

Description

1.

Eligibility

The applicant is an existing customer of Bank Muamalat Cicil Emas Financing with a facility that meets following criteria:

1. Minimum tenor: 6 months since booking
2. Remaining tenor: before 3 months of maturity

2.

Financing Objectives

For consumptive purposes within sharia principles

3.

Financing Scheme

1. New Top Up : registered as an additional facility to existing Cicil Emas facility
2. Open Close Top Up : registered as one facility and the existing Cicil Emas facility will be closed

4.

Financing To Value (FTV)

Maximum of 80% of the gold price

5.

Financing Amount

1. Maximum equivalent of 500 grams of gold multiplied by FTV
2. Minimum Rp 5.000.000,- net top up

6.

Down Payment (DP)

No Down Payment (DP) required

7.

Time Period

1. Minimum 12 months
2. Maximum 120 months

8.

Financing Agreement

Qardh and Ijarah

9.

Insurance Fee

Incurance fees are waived for the customer

10.

Financing Fees

Fees for disbursement of funds:

1. Administration
2. Stamp duty

No.

Question

Answer

1.

Which customers can apply for PKBE?

Only for existing customer of Bank Muamalat Cicil Emas Financing with a facility that meets following criteria:

1. Cicil Emas with minimum tenor: 6 months since booking
2. Cicil Emas with remaining tenor: before 3 months of maturity

2.

Can general or walk in customers who bring gold collateral have their PKBE application processed?

No

Currently, this benefit is eligible only for existing customer of Bank Muamalat Cicil Emas Financing whose gold is still held as collateral with Bank Muamalat

3.

What is the gold price reference for assessing the value of gold PKBE product?

The gold price reference is the gold acquisition price or selling price (not the buyback price) from each collaborating gold supplier

4.

Is it possible for customer to apply 1 PKBE and close his/her on going Cicil Emas Facility (book and close top up), if the customer has more than 1 Cicil Emas facilities?

No

1 Cicil Emas facility can only be used as the facility reference of 1 PKBE facility. Therefore, if the customer wish to use all 3 on going Cicil Emas facilities as the reference for his/her PKBE application, the customer needs to submit 3 PKBE applications

5.

Can customers still submit PKBE applications when gold prices are falling?

Yes

As long as the value of the gold collateral, based on the current gold price after calculating the Financing to Value (FTV), is a maximum of 80%, it can still cover the related gold-backed financing exposure

6.

Does the PKBE application period have to be the same as the related Pembiayaan Cicil Emas period?

No

The tenor of PKBE facility does not have to be the same as current (on going) Cicil Emas financing, it can be longer or shorter, as long as the tenor meets the requirements and the age at maturity

7.

Are the customers allowed to release some of their collateral gold of Cicil Emas before applying for PKBE?

The collateral gold of existing (on going) Cicil Emas facility is allowed to be released if it meets these requirements:

1. The existing facility has more than 5 gram gold
2. The existing facility has more than 1 piece of gold
3. Only available with “Open Close Top Up” scheme
4. The customer has paid certain amount of principal installments, equivalent to the value of the gold piece(s) they want to release

Principal Outstanding >= Value of the Gold Piece(s)

8.

If the customer chooses the option of returning part of the gold collateral, when can the customer take the returned gold?

Some of the gold collateral returned to the Customer can be collected by the Customer with an estimated minimum of 2 months after the PKBE disbursement date at the Bank Muamalat hub Branch Office (or the collection Branch Office according to the initial Pembiayaan Cicil Emas agreement)