Seems like banks are hardselling Islamic Housing Loan these days.

What they tell me is:

Pros:

1. No lock in period
2. Capped interest rate at around 10%, in the event of hyperinflation environment purchaser is protected

Cons:
Nil

But what's the actual downside? There has to be some downside or catch, otherwise everyone would be taking Islamic loans if its just upside compared to conventional loan

This post has been edited by contestchris: Sep 17 2023, 10:08 PM