Features of SCC i-Gold

Cash Line amount

Maximum cash line limit of RM100,000


Several payment method options

Profit Rate

3.99 % per annum (Fixed rate)
Check our Financing Table here

1) What is SCC i-Gold?
  • SCC i-Gold is the latest Islamic personal financing product of Sabah Credit Corporation exclusively designed for pensioners from government sectors (Departments & Agencies).

2) Advantages of SCC i–Gold?
  • Fixed profit rate as low as 3.99% per annum

  • Financing tenure up to 10 years

  • This facility does not required guarantor (Subject to terms and conditions)

  • Inclusive of Takaful coverage

  • Applicant must be a Malaysian citizen age not more than 67 years and a pensioner from government sectors;

  • Started receiving a minimum gross pension fund of RM1,500 and

  • Maximum entitlement is [Gross Pension x 12]; subject to not exceeding maximum financing amount of RM100,000 and deductions of total liabilities not exceeding 50% of monthly gross pension fund


  • Application Form

  • Certified true copies (2) of IC

  • Copies of Pension Card (Certified true copy)

  • Copy of Pension Statement (Certified true copy)

  • Copy of Bank Statement

  • Latest electricity bill

  • Copy of Standing Instruction form / Direct Debit

  • Standing Instruction (SI) from any banks

  • Payment through online banking or directly over the counter



  • Cash Payment

1) What is this product about?

    SCC i-Gold is a short term financing granted to pensioners in order to assist them in their finances.

2) What is the Shariah concept applicable?

    Contract Used

      Bai al-‘Inah (Sell and Buy-Back)

    Financing Concept Used

      Bai al-'Inah (Sell and Buy-Back)

      Bai al-'Inah refer to a contract which involves sale and buy back transactions of an asset by the seller. In these transactions, the seller sells an asset to the buyer on cash basis and then buys back the asset at a deferred price which is higher than the cash sale price. It may also be conducted where the seller sells the asset to the buyer at a deferred price and subsequently buys back the asset on cash basis at a lower price than the deferred sale price.

    Structure / Procedure

    • Application from Customer to SCC;

    • Offer Letter from SCC;

    • Customer Signing Memorandum of Acceptance of Letter of Offer;

    • Customer given a line of credit;

    • Customer signed Utilization Notice;

    • Customer signed Asset Sale / Buy Back Agreement;

    • Supplemental Letter of Offer (if required).

3) What do I get from this product?
  • Credit Facility Limit up to RM 100,000.00 (Maximum)

  • Profit Rate: 3.99 % per annum (Fixed rate)

  • Repayment period up to 120 months (Maximum)

4) What are the fees and charges I have to pay?
  • Stamp Duty : As per Stamp Duty Act 1949 (Revised).

  • No commitment fee on unutilized portion of the line of credit approved.

  • Takaful Coverage - Differs according to the financing amount, tenure of application and age of applicant.

5) What if I fail to fulfill my obligations?

    Applicant shall pay the late payment charges by way of ta'widh (compensation) as stated in the Master Agreement.

6) What if I fully settle the financing before its maturity?
  • Applicant can make early settlement before maturity date and no penalty shall be charged.

  • SCC shall grant rebate (ibra’) which is equivalent to the deferred profit at the point of settlement, as stated on the Bank Negara Malaysia.

7) Do I need any insurance/takaful coverage?

    It is compulsory for customer to purchase Takaful coverage from our selected panel. Takaful Premium will be deducted from the total amount of facility approved.