Affin Bank is one of the leading banks in Malaysia. You can approach the bank for a wide assortment of consumer banking, business banking, and investment management services. The bank has an exclusive segment for Islamic banking. The products and services offered under this segment follow the Shariah concept as per the Islamic banking law.
You can buy a new house with the help of Islamic home financing offered by the bank known as Affin Home Financing-i. This is given according to the Shariah concept of Musharakah Mutanaqisah or Diminishing Partnership.
At least 21 years old
Less than 70 years old
Salaried / Self-employed
with regular income
Earn more than the minimum
Instalment limited to about 50%
of monthly income
Loan capped @ Up to 95% of property value, inclusive of MRTT
Instalments of other loans lower
Make your spouse a co-applicant,
and her income will add
to your eligibility
Choose longer tenure loan up to 35 years
Alternatively add your parents
|Margin of Finance||Up to 95% of property value, inclusive of MRTT|
|Guarantor Requirement||No Guarantee Required|
These are the features and benefits of this financing facility:
These are the different kinds of Affin Islamic Home Financing-i:
These are the rental rates for the different Islamic home financing schemes offered by Affin Bank:
|AFFIN Home Invest-i||BR+0.66% p.a.|
|AFFIN Home Assist Plus-i||BR+1.51% p.a.|
|AFFIN Credit Plus-i||
Vacant factory lot: BR+1.76% p.a
Vacant industrial land: BR+4.61% p.a.
Higher than RM1.0 Mil: BR+0.81% p.a.
Higher or equal to RM400,000 but lesser than or equal to RM1.0
Mil: BR+0.86% p.a.
Lesser than RM400,000: BR+1.01% p.a.
|AFFIN BNM Priority Sector Home Financing-i||BR+1.61% p.a.|
|AFFIN Invest Plus-i||
Above RM500,000 but lesser than RM1.0 Mil: BR+0.91% p.a. RM1.0 Mil and above: BR+0.81% p.a. Vacant residential land or bungalow lots: BR+3.11% p.a
Greater than RM500,000 but lesser than RM1.0 Mil: BR+1.11% p.a. RM1.0 Mil and higher: BR+1.01% p.a. Vacant industrial land or factory lot: BR+4.61% p.a.
|AFFIN Premier Corporate Home Financing-i||BR+1.11% p.a.|
|AFFIN Home Build-i||Home Build-i: BR+1.11% p.a. daily rest Land Invest-i: BR+2.11% p.a. monthly rest|
|AFFIN Extra Plus-i||BR+1.01% p.a.|
These are the fees and charges for the various Islamic home financing schemes offered by Affin:
|Letter of confirmation for EPF withdrawal||RM21.20|
|Redraw fees for additional payment (for each transaction)||RM26.50|
|Processing fee||No fee|
|Security document retrieval fee (for each request and for full assortment of documents)||RM31.80|
|Redemption statement (for each account for each request)||RM53.00|
|Additional financing statement (for each request)||RM10.60|
|Stamp duty||According to the Stamp Act 1949 (Revised 1989)|
These are the eligibility criteria that will have to be followed while applying for this financing:
You can fill the mortgage financing application form available on the bank’s website. You can then submit it at an Affin bank branch. You can also visit the branch to meet a representative and apply for it there. You can also get in touch with the bank by calling them at 03-5522 3000 for help.
You can make monthly payments through the internet banking option available on the bank’s website.
You will have to submit the following documents:
If you fail to pay your installments for Affin home financing for 3 months, the bank will change the Ijarah rate to BR+4.35% p.a. This will be reflected in your letter. The bank will not give you any notice before they change the rate.
This Takaful is not mandatory when you take this financing. When the borrower suffers from death or permanent disability, the Takaful will help in paying the unsettled amounts of your financing.
Yes, you will have to pay a valuation fee only for constructed properties.
No, you do not have to pay any restructuring or rescheduling fees for this financing.
Yes, the bank’s share of property will be leased to you even when it is being constructed. This is known as forward leasing. It is given according to the concept of Ijarah Mawsufah Fi Zimmah.
Under AFFIN Invest Plus-I, your margin of finance (MOF) for a business property will be up to 85%.
No, this term financing is given only for properties that are fully constructed.