CIMB Islamic's Flexi Home Financing-i is the best-documented full-flexi Islamic home financing in Malaysia and, for anyone who keeps spare cash, usually the cheapest way to hold a CIMB mortgage. It is a Commodity Murabahah (Tawarruq) facility paired with a Special Mudharabah Investment Account-i (SMIA-i); 100% of the daily SMIA-i balance is recognised against the financing profit, with no cap on the saving, for a RM10 monthly service charge. CIMB's property rate card on 16 September 2026 showed SBR + 2.05% for amounts above RM500,000, equal to 4.80% a year with the SBR at 2.75%, rising to SBR + 2.45% (5.20%) below RM200,000. On RM500,000 with RM50,000 parked for a year, the published rate implies roughly RM2,450 less profit, or about RM2,330 after the service charge. The home financing hub compares the alternatives.
Ready to compare halal options?
Contract, printed rate and the ceiling rate
The product disclosure sheet, version December 2025, states that the facility is based on Commodity Murabahah, also known as Tawarruq: the bank and the customer execute two separate sale and purchase transactions of a Shariah-compliant commodity through two commodity suppliers, and the customer pays the marked-up price over the tenure. The facility is calculated on a variable rate basis and the property is the security. CIMB may ask for a guarantor depending on credit assessment.
The published rates are tiered by amount and all float on the Standardised Base Rate, which CIMB's page sets at 2.75% as at 14 July 2025. Our SBR explainer covers why every bank's SBR equals the Overnight Policy Rate. The PDS illustration uses a RM350,000 facility at 90% margin over 35 years at SBR + 2.35%, giving a monthly instalment of RM1,788.80, a contracted profit rate of 10.75% a year, a Bank's Sale Price of RM1,348,729.20 before ibra, and total payments of RM751,286.00 if the SBR never moves. The contracted profit rate is the ceiling; the difference between it and the effective rate is rebated as ibra, which our ceiling versus effective rate guide explains.
| Financing amount | Published profit rate | Effective rate at SBR 2.75% |
|---|---|---|
| Below RM200,000 | SBR + 2.45% | 5.20% a year |
| RM200,000 to RM350,000 | SBR + 2.35% | 5.10% a year |
| Above RM350,000 to RM500,000 | SBR + 2.15% | 4.90% a year |
| Above RM500,000 | SBR + 2.05% | 4.80% a year |
CIMB notes that promotional rates are available at branches, so the printed card is the ceiling of what you should accept, not the floor. The PDS also shows the sensitivity: on the RM350,000 illustration, a 1% rise in the SBR lifts the instalment to RM2,019.23 and total payments to RM848,067.42; a 2% rise lifts them to RM2,260.59 and RM949,432.96.
How the SMIA-i offset and redraw actually work
You must open an SMIA-i linked to the facility. Any extra cash you deposit sits in the SMIA-i and the daily closing balance determines the monthly profit charged on the facility: CIMB's product page says it fully recognises 100% of the SMIA-i balance to reduce daily financing profit, with no cap on the profit saving. The PDS adds that the SMIA-i may itself earn a return as a Mudharabah investment account, so the deposit is doing two jobs. Withdrawals from the SMIA-i are allowed in any amount at any time with no extra charge, through the CIMB OCTO app or Clicks, which is what makes this a full-flexi rather than a semi-flexi product.
Two charges attach to the flexibility. A monthly service charge of RM10.00 is debited to the facility throughout the tenure. A non-rebated profit of RM40.00 a month is charged if the Flexibility Rate falls below 70% of the outstanding Bank's Purchase Price at month end, where the Flexibility Rate is the average daily balance divided by the outstanding Purchase Price and the average daily balance nets the SMIA-i ledger against the outstanding. In plain terms, once your parked cash exceeds about 30% of what you owe, the RM40 kicks in. Partial settlements that actually reduce principal require a written request and shorten the tenure; they are different from parking cash in the SMIA-i, which reduces profit but leaves the principal untouched.
Worked example: RM500,000 with RM50,000 parked for a year
Take a RM500,000 facility, which sits in the above RM350,000 to RM500,000 tier at SBR + 2.15%, or 4.90% a year. Profit is calculated as amount disbursed times profit rate times days outstanding over 365, so RM50,000 held in the SMIA-i for the full year removes RM50,000 from the daily base: 50,000 times 4.90% is RM2,450 of profit not charged. The RM10 monthly service charge costs RM120 over the year. RM50,000 is 10% of the outstanding, so the Flexibility Rate is about 90% and the RM40 non-rebated profit does not apply. Net saving: roughly RM2,330, before any Mudharabah return the SMIA-i pays on the balance.
Compare that with the same RM50,000 in an Islamic fixed deposit. The offset saving is at the financing rate of 4.90%, is effectively tax-free and is available on demand, while a term deposit pays a lower rate and locks the money. The arithmetic turns the other way only if you park so little that RM120 a year of service charge exceeds the saving, which happens below about RM2,450 of average balance. For a RM50,000 or RM100,000 emergency fund, the flexi structure wins. For a borrower with no spare cash, CIMB's Variable Home Financing-i has no processing fee and no monthly charge and is the cheaper shell.
Fees, stamp duty, lock-in and ta'widh as published
CIMB's property financing fee page lists the following for Flexi Home Financing-i. There is no processing fee on the Variable product and none is listed for Flexi; the HomeFlexi Smart-i product charges RM200 and a RM25 over-the-counter redraw fee, which Flexi does not. Stamp duty follows the Stamp Duty Act 1949: RM10 on the letter of offer, RM5 for every RM1,000 on the principal document, RM10 on the security document and RM10 on a standing instruction. Legal fees follow the Solicitors' Remuneration Order scale and valuation fees follow the Board of Valuers' Seventh Schedule; neither is quoted in ringgit by the bank. A redemption statement costs RM50 per request and an EPF withdrawal confirmation letter RM20.
- Monthly service charge of RM10.00 throughout the tenure, debited to the facility account.
- Non-rebated profit of RM40.00 per month when the Flexibility Rate is below 70% of the outstanding Bank's Purchase Price.
- Ta'widh (compensation) during the tenure of up to 1% a year on the overdue monthly profit or instalment, based on actual cost.
- Ta'widh of up to 1% a year on the outstanding Bank's Sale Price less ibra if the facility is terminated before maturity, and up to the BNM overnight Islamic interbank rate after maturity.
- Total ta'widh capped at 100% of the outstanding Bank's Purchase Price, with written notice of any rate change.
- The bank may set off a CIMB savings balance against arrears after seven calendar days' notice.
The PDS does not state a lock-in period or an early settlement charge, and the fee page lists none; the ibra clause means early settlement is at the outstanding Sale Price less the unearned profit. Confirm the absence of a lock-in in your letter of offer, because promotional rates at branches sometimes carry one. Our ta'widh and gharamah explainer shows how small the 1% charge is on a single missed instalment.
Eligibility, documents and the application path
The product page requires applicants aged 18 and above and a margin of financing up to 95% inclusive of MRTT, legal and valuation fees, with those three capped at 5% of the margin. Malaysian applicants supply a copy of the NRIC, proof of purchase and income documents. Group Mortgage Reducing Term Takaful is optional unless a promotional rate in your letter of offer makes it compulsory; fire or houseowner takaful is required throughout. There is no end-to-end online application for this product: the page offers a 'Let Us Call You' form and a monthly instalment calculator, and the branch handles the rest. The PDS's own warning that a tenure past retirement age must still be paid in retirement is worth taking literally on a 35-year term.
How it compares with RHB Equity Home Financing-i and Bank Islam Baiti
Bank Islam's Baiti Home Financing-i page, fetched the same day, advertises rates as low as SBR + 0.80%, an effective 3.55% a year, subject to property value and margin, with up to 90% financing, tenure to 35 years or age 70, no lock-in, no processing fee, no compounding and no early settlement penalty. It is also Tawarruq. On headline rate Baiti is well below CIMB's card, but it is a term facility with no offset account, so a borrower with RM50,000 of spare cash should compare 3.55% flat against 4.90% less the offset saving; at RM50,000 parked the CIMB cost on RM500,000 is still higher, and the gap narrows only as parked cash grows. The Bank Islam guide covers Baiti in full.
RHB Islamic's Equity Home Financing-i is the closest structural rival because it is also a full-flexi facility with a linked current account, but the RHB product page did not load during this task, so we do not print its rate; the RHB Islamic guide and the rates comparison carry the figures we verified on earlier dates. For a buyer who wants an offset and will actually use it, the decision is CIMB Flexi versus RHB Equity on the monthly charge and the redraw rules; for a buyer who wants the lowest rate and will never park cash, it is Baiti.
Who should pick it
Choose CIMB Flexi Home Financing-i if you hold, or will build, an emergency fund of RM30,000 or more and want it working against your financing without locking it away. The RM10 monthly charge is trivial next to the saving once RM2,450 or more sits in the SMIA-i on average, and the 100% recognition with no cap is the feature competitors restrict. Avoid it if you will never park cash; take CIMB's Variable Home Financing-i or Bank Islam's Baiti at SBR + 0.80% instead, because you would be paying RM120 a year for flexibility you do not use. Negotiate at the branch, because CIMB says promotional rates exist, and get the contracted profit rate, the absence of a lock-in and the SMIA-i return written into the letter of offer. First-time buyers should also read our first-time buyer guide before fixing the margin. Facts checked against cimb.com.my, bankislam.com on 16 September 2026.
Frequently asked questions
What is the CIMB Islamic home loan rate in 2026?
CIMB Islamic's published residential property financing rates on 16 September 2026 were SBR + 2.45% below RM200,000 (5.20%), SBR + 2.35% from RM200,000 to RM350,000 (5.10%), SBR + 2.15% above RM350,000 to RM500,000 (4.90%) and SBR + 2.05% above RM500,000 (4.80%), with the SBR at 2.75%. CIMB says promotional rates are available at branches.
What Shariah contract does CIMB Flexi Home Financing-i use?
Commodity Murabahah, also called Tawarruq. The December 2025 product disclosure sheet explains that the bank and customer execute two separate commodity sale and purchase transactions through two commodity suppliers, and the customer pays the marked-up Bank's Sale Price over the tenure, with ibra rebating the difference between the contracted ceiling rate and the effective rate.
How does the SMIA-i offset account reduce my profit?
The daily closing balance of your linked Special Mudharabah Investment Account-i is netted against the outstanding financing when the daily profit is calculated, and CIMB recognises 100% of it with no cap on the saving. You can withdraw any amount at any time through the OCTO app with no charge. A RM10 monthly service charge applies, and RM40 a month of non-rebated profit applies if parked cash exceeds about 30% of the outstanding.
Is there a lock-in period or early settlement penalty?
Neither the product disclosure sheet nor CIMB's property fee page lists a lock-in period or an early settlement charge for Flexi Home Financing-i. Early settlement is at the outstanding Bank's Sale Price less ibra on unearned profit, plus any late payment charges. Promotional rates agreed at a branch can carry their own conditions, so check the letter of offer.
What are the fees on CIMB Flexi Home Financing-i?
A RM10 monthly service charge, RM40 monthly non-rebated profit if the Flexibility Rate drops below 70%, RM50 per redemption statement, RM20 per EPF confirmation letter, stamp duty under the Stamp Duty Act 1949 (RM5 per RM1,000 on the principal document), legal fees on the Solicitors' Remuneration Order scale and valuation fees on the Board of Valuers' scale. No processing fee is listed.
Compare providers in your state
See side-by-side comparisons of Shariah-compliant products, or let our matcher recommend the best options for your situation.
What is the late payment charge on a CIMB Islamic home financing?
Ta'widh, or compensation, of up to 1% a year on the overdue instalment or profit during the tenure, based on actual cost. If the facility is terminated early the rate is up to 1% a year on the outstanding Sale Price less ibra, and after maturity up to BNM's overnight Islamic interbank rate. Total ta'widh cannot exceed 100% of the outstanding Bank's Purchase Price and is never compounded.
