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Our loan product range

Personal Unsecured & Secured Loan

  • Loan Tenors :
  • 3 months?php echo __l('to');?>24 months
  • Borrowers :
  • Individuals

Vehicle Rent to Buy Loan

  • Loan Tenors :
  • 3 years?php echo __l('to');?>6 years
  • Borrowers :
  • Individuals

Pawnbroking

  • Loan Tenors :
  • 3 months?php echo __l('to');?>6 months
  • Borrowers :
  • Individuals

Housing Loan

  • Loan Tenors :
  • 5 yearsto25 years
  • Borrowers :
  • Individuals

Personal Unsecured & Secured Loan

Our Personal Unsecured & Secured Loan is based on the Sharia concept of Tawarruq.

Tawarruq is a mode of finance that consists of two sale and purchase contracts, where the first involves the sale of an asset to a purchaser ona. deferred basis and the second is a subsequent sale of the asset to a third party ona cash basis. Tawarruq is the mode which most Islamic banks worldwide provides personal financing.

Under this principle iP2Pmoney is offering a short term unsecured loan product to the borrowers. Borrower can also provide additional security to a Tawarruq transactions, which forms the basis of our secured loan product.

Product description
Loan period 3 months to 24 months
Collateral for secured loan Gold, silver, precious stones - Based on weight, quality and prevailing market prices
Max loan amount Upto 70% of the assessed value for secured loan and for the unsecured loan, where monthly repayment should be equal to or above 30% of monthly net income
User / Borrower Individuals

Vehicle rent-to-buy loan

Our Vehicle Rent-to Buy Loan is based on the Sharia concept of Ijarah Thumma Al Bai

Ijarah means lease, rent or usage and Bai means sale. Under this concept, the lender will purchase the vehicle selected by the borrower and rents the vehicle back to the borrower at an agreed payment installments over a specific period. Upon settlement of the last installment the borrower will purchase the vehicle at a nominal value.

During the rental period the vehicle ownership belongs to the lender. The vehicle may be disposed off in the event of default.

Product description
Loan period 3 to 5 years
Type of vehicle Personal vehicles
Max loan amount Upto 80% of the assessed value depending on the vehicle make and age
Borrower Individuals

Pawnbroking

Our Pawnbroking activity will be based on the Sharia concept of Ar Rahnu

Rahnu means pledge, mortgage or pawn. It refers to an arrangement whereby a valuable asset is placed as collateral for a debt or loan. The collateral may be disposed off in the event of default. The lender guarantees the safety of the pledged asset under the principle of guarantee safe custody. Under this principle the lender is entitled to a fee for safe keeping.

Under this principle, iP2Pmoney will be offering a short term loan product to the borrowers and investors will be investing in a short term secured loan.

Product description
Loan period 3 months to 6 months
Collateral High value consumer items or gold, silver and precious stones
Max loan amount Up to 70% of the collateral value
Borrower Individuals

Housing Loan

Our Housing Loan product is based on the Sharia concept of Musharakah Mutanaqisah

Under the diminishing Musharakah, the Borrower and the Investors enter into a co-ownership agreement to acquire a residential property with the intention to progressively reduce the ownership of one partner (investors) until the Borrower finally holds full ownership of the property.

Product description
Loan period Minimum 5 years and Maximum 25 years
Takaful General and Life Takaful
Max loan amount Up to 90% of valuation new house and upto 70% of valuation for refinancing
Borrower Individuals