Features of SCC i-Cash

Cash Line amount

Maximum cash line limit of RM200,000


Simple & Flexible

Offers credit line facility
Withdrawal at anytime and any amount


Profit Rate

4.5 % per annum (Fixed rate)
Check our Financing Table here

1) SCC i-Cash?
  • SCC i-Cash is the newest Islamic personal financing product of Sabah Credit Corporation which is more flexible and empowering. The enabling instruments are:

    • The Master facility Offer

    • The "Wakalah"

    • The Utilization Letter


2) Advantages of SCC i–Cash?
  • Clients are in control:

    • On the amount of draw-down.

    • When to make draw-down.

  • Flexible for clients:

    • Additional financing without redeeming existing accounts.

    • Allows early settlement (internal redemption) and partial settlement without charges.

    • Option to re-schedule repayment upon partial settlement by way of:

      • Maintain the on-going monthly payment with shorter repayment period.

      • Maintaining the repayment period with lower monthly repayment.

    • The Master of Facility entitlement is review-able upon clients’ income increment.

    • Draw-down increases by way of taking into account the payment of principal.

    • Approval/draw-down can be done by way of the “wakalah” concept.


3) Please offer a further understanding of the “Master Facility Offer”?
  • Refer to the overall customers’ entitlement or the customer’s credit limit which is calculated by following formula:

    • Entitlement = 60 x Gross income

  • The Master Facility Offer is similar to credit cards credit limit. However, the utilization amount or draw-down amount is subject clients current commitment.


4) What is the purpose of “Wakalah” documents?
  • A form of Power of Attorney which authorized SCC officers to sign financing documents on behalf of clients (say, the buy and sales Agreement / Akad)

  • Such mechanism eliminates the hassles of back and forth to SCC to sign he same. This is especially practical for our clients who come from afar.

  • This document is to be sign together with Master Facility Offer only if clients agree to the concept.


5) Who are SCC’s officers authorized to sign documents on behalf of clients via “Wakalah” concept?
  • Managers of district client centers or appointed officers during their absence;

  • Head of Credit Department or Chief Operation Officer during the absence of mentioned officers.


6) What is the purpose of the “Utilization Letter”?
  • A document that has to be signed by clients for full or partial entitlement draw-down.

  • Significant contents of this letter are:

    • Amount of draw-down required.

    • Clients’ bank account details.


7) How much can be withdrawn from the “Master Facility Offer” amount?
  • The maximum amount that can be withdrawn is base on the Bank Negara requirement that the total deduction (including SCC i-Cash deduction) of a client should not be more than 60% or at the percentage determined by clients’ employer.

  • For maximum entitlement, SCC will also take into consideration clients financing principal outstanding with SCC.

  • Principal balance of Clients’ account with SCC decreases via monthly repayment and, therefore, a higher entitlement can be offered.


8) Interested to know SCC’s assurance to clients in terms of approval and withdrawal:
  • Approval - We emphasize on instant approval

  • Withdrawal - Money shall be credited to clients’ account within 24hrs after approval.


  • Civil servants (Federal & State) serving in State of Sabah *

  • Employees of Established Government Linked Companies

  • Established Companies *

*With approval from SCC

New Applicant
  • Certified copies (2) of IC

  • Latest original copy of salary slip

  • Consent letter from Department

  • Certified copy of retirement option

  • Certified copy of appointment of confirmation letter of employment

  • BPA 1/79


Existing Applicant
  • Certified copy of latest salary slip

  • State Civil Service: Salary Deduction via Treasury Department

  • Federal Civil Service: Salary Deduction via BPA

  • GLCs/Established Companies: Direct salary deduction

1) What is this product about?

    SCC i-Cash is a short term financing granted to customers with good track record to help them.
    The facility is Islamic revolving facility.


2) What is the Shariah concept applicable?

    Contract Used

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

    Financing Concept Used

      Islamic Revolving Facility

      Bay al-‘Inah (Sell and Buy-Back) is a series of sale contracts where the buyer buys an asset from a seller for a deferred payment and sells the asset to an original seller for cash at a price less than the deferred price, with the objective of obtaining cash. This process will be repeated once request from customer is obtained through Utilization Notice and exercise of Asset Sale Agreement (“ASA”) and Asset Purchase Agreement(“APA”).

    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 200,000.00 (Maximum)

  • Profit Rate: 4.50% 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.


5) What if I fail to fulfill my obligations?

    Customer shall pay the late payment charges by way of ta'widh (compensation) as stated in the Letter of Offer.


6) What if I fully settle the financing before its maturity?
  • SCC does not impose a lock-in period for this facility and there is no fee imposed for early settlement before maturity.

  • SCC shall grant rebate (ibra’) which is equivalent to the deferred profit at the point of settlement.


7) Do I need any insurance/takaful coverage?

    It is compulsory for customer to buy Takaful coverage.