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PERSONAL BANKING » Loan / Financing » Ar-Rahnu

Agrobank provides credit services based on Syariah Al-Qard principal, which is loans amounted at RM 10,000 needs to be pay back at RM 10,000. Credit given must have an item pawned or kept by the bank. A pawned /kept item that is used in this process is in the form of jewelleries or gold wafers. These pawned items are kept by the bank based on the Al-Wadiah Yad Dhamanah and are ensured of its safety. Pawned/kept items will be charged with some service fee.
Terms & Conditions

• Open to all individual or non-individual who is Malaysian citizens.
• Aged 18 years old and above

Limitations

• Maximum RM 50,000 ( RM 10,000 per day )
• Minimum RM 100

Period of Services

• 6+3+2 months (The period for the first service is for 6 months, and can be extended to 3 months more and another final extension for 2 months more)

Types of Pawned Items Accepted

• All types of jewelleries made in gold, such as: rings, hand and legs bracelets, brooches or others.
• Pound Gold and White Gold are not accepted.

Storage Fees

Margin financing	Storage fee rate
50% and below	RM0.50/100
50.1% to 60%	RM0.60/100
60.1%  to 70%	RM0.75/100

Redeeming Pawned / Kept Items

• Redemption can be made in stages or at once or anytime before or after the deadline.
• depends on the latest amendment of the bank policies

Advantages of Ar-Rahnu Schemes

• Financing through Syariah law
• Fast, Easy and Secure. Kept items are ensured of its safety.
• Cheaper than conventional prawn services
• Storage fees are static until full redemption
• Longer pawn/kept period
• No penalties
• Balances of the auction will be returned to the customer.