Alliance Bank is a modern day bank offering day to day banking and wealth management services in Malaysia. It was formed under the umbrella of Alliance banking group that was established in 2001. With banking experience of over five years, Alliance Bank is offering a wide range of services including retail banking, SME banking, stock brokering services and Islamic banking to the vast majority of people across Malaysia. Alliance Bank offers privilege banking centers, Islamic banking centers along with direct marketing services across Malaysia, credit cards, car loans, personal loans, home loans and deposit schemes to its cherished customers. Alliance bank has a dedicated business banking service channel with a dedicated SME banking approach. Alliance Bank Car Loan is one the most preferred car loan options for a vast majority of Malaysian banking customers.
At least 18 years old
Less than 55 years old
Salaried or self-employed
with regular income
Earn more than the minimum
Loan capped @
Up to 90% of the ex-showroom price
Installments of other loans lower
Pay off your credit card bills
Choose longer tenure loan up to 10 years
|Margin of Finance||Up to 90%|
Hire purchase loans, also known as rent to own loans are becoming pretty popular in the South east Asian countries because they are a better option than just owning a car and at the same time they are less overwhelming than taking a car loan. The loan approval and processing for these loans is done efficiently as long as the required documents have been correctly submitted for application. The margin of financing and loan tenure are based on the age of the vehicle. The repossession also has some code of ethics which need to be followed. All the details have been provided below however do check the product disclosure sheet on the website before making the final decision. Contact the bank if you are uncertain about any term or condition.
The following details are subject to change, based on the financial institution will, policy and right to make changes at any time to will to do so.
|Age of Vehicle||Maximum Duration||Maximum Margin of Financing|
|New||Up to 108 months (9 years)||Upto 90%|
|1 to 5 years||Up to 108 months (9 years)||Upto 90%|
|6 to 8 years||Up to 84 months (7 years)||Upto 90%|
|9 to10 years||Up to 60 months (5 years)||Upto 85%|
For Commercial Vehicles (Note: Must have maximum BDM of 5,000kgs)
|Age of Vehicle||Maximum Duration||Maximum Duration|
|New||Up to 84 months||Upto 90%|
|1-5 years||Up to 60 months||Upto 80%|
This is not an exhaustive list, as there may be more documents required for the loan based on the bank’s decision:
Alliance Bank car loan offers easy loan repayment using their eLobby self-service terminals available nationwide. The bank offers attractive car loans of upto 90% of the car value, at competitive interest rates. Alliance bank also offers customer oriented motor insurance and road tax renewal services.
All individuals above the age of 18 years along with corporates including limited companies, partnerships as well as proprietorships are allowed to avail the Alliance Bank car loan. For corporate car loan, the proprietorship and partnership must be registered in Malaysia.
Alliance bank car loan is available for all Malaysian citizens above the age of 18 years. In case of individual below 18 years of age and above 55 years of age, a Malaysian citizen as a guarantor is required.
Alliance bank car loan is available for corporates with a legal business and with regular and sufficient income to meet the current liabilities. The business must be older than two years in operation with Malaysia as the place of incorporation. In case of business being less than 2 years old, the principal owner needs to have a minimum of 2 years’ experience in his/her field.
Proof of identity and address of the applicants and guarantors is a common document mandatory for all loan applications. Other documents vary slightly based on the category of applicants- like whether they belong to the salaried class, self employed or applying for loan in the name of limited companies or in the name of partnership and proprietorships companies. Proof of income and tax documents (as per the category to which the applicant belongs) is common for all. Other documents include 6 months bank statements of all operating bank accounts, tax payment receipts, Memorandum and Articles of Association, certificate of business registration, partnership agreement etc, as applicable to each category.
In case of new vehicle alliance, Bank offers a maximum margin of 90% of the cost of the vehicle. In case the age of the vehicle is between 9 and 10 years, the maximum margin is reduced to 85%.
The maximum tenure for car loans for passenger vehicles aged between 9 and 10 years is upto 60 months, between 6 and 8 years is upto 84 months and for new vehicles or vehicles aged between 1 and 5 years, the loan tenure is upto a maximum of 108 months.
A maximum margin of finance for commercial vehicles with BDM not exceeding 5000 KG is fixed at up to 90% of the cost for new vehicles and up to 80% of the cost for older vehicles between 1 and five years.
The maximum loan tenure for new commercial vehicles is up to 84 months while that for vehicles between 1 and five years old is upto a maximum limit of 60 months.
Alliance Bank is a lender of car loans in Malaysia. To find out the interest rate for car loan charged by Alliance Bank, you can use a simple online tool available on Bbazaar.my website. The convenient tool called car loan calculator instantly gives you the monthly instalment on your car loan every month if you provide it with the loan amount, tenure and interest rate. This can help you plan your finances well and zero in on what car you want to purchase on loan. The car loan calculator makes it easy for Malaysians to drive away your dream car.
This is a car loan scheme offered by Alliance Bank to help you purchase your chosen car.
Yes, you can get a motor insurance, if you opt for an Alliance Hire Purchase car loan.
You can get finance up to 90% based on your eligibility.
Yes, the bank provides car loan for purchasing used cars.
Yes, Alliance Bank would provide you finance for purchasing a foreign car as well.
The bank charges 2.78% on new foreign car loans.
If you are 18 years old, you are eligible for opting for an Alliance Hire Purchase car loan. However, you need fulfil other eligibility conditions sought by the bank.
You can pay off your Alliance Bank CAR Loan by repaying in equated monthly installments.
Yes, you can settle or pay off your Alliance Bank Car Loan before time.
Both salaried and self-employed individuals are eligible for applying for Alliance Bank Car Loans.
You need to submit the following key documents: salary slip of last 3 months, latest EA Form of Borang BE, last EPF statements and latest 3 months' bank statement.
Yes, you can avail road tax renewal services with a Hire Purchase scheme offered by Alliance Bank.
Apart from offering Car Loan,Alliance Bank offers other products and services which include: