The plan provides Takaful protection to
a bank’s financing seeker by paying off
a financing seeker’s debt in case of an
uncertain event like death or disability.
The face value of a credit takaful policy
decreases proportionately with the
outstanding debt amount i.e. as the
debt is paid off over time until both
reach zero value.
Note: In case of loans from conventional banks, this Group Credit Takaful plan covers only the principal amount of the loan and not the interest on it.