The Alliance Bank CashFirst Personal Loan offers competitive rates, low monthly repayments and flexible tenures going up to 7 years.
|Loan Amount||Loan Tenure||Minimum Income||Profit Rate|
|From RM5,000 to RM150,000||1 to 7 years||RM36,000 p.a.||From 3.99% p.a. (flat rate basis)|
|Interest Rate||Appx. 8.38% p.a. to 14.78% p.a.|
|Effective Rate||From 14.73% p.a. to 24.37% p.a. (for a tenure of 60 months)|
|Minimum Loan Amount||RM5,000|
|Maximum Loan Amount||RM150,000|
|Loan Tenure||From 12 months to 84 months|
Consolidate up a maximum of 4 credit cards or/and personal loan liabilities in a one single monthly instalment
|Takaful Coverage||Personal Loan Reducing Term Assurance (PLRTA) is optional|
|Approval Duration||Fast approval|
|Stamp Duty Charges||0.5% of total approved loan amount disbursed|
|Processing Fee||No processing fee imposed|
|Early Settlement Charges||No early termination fee imposed|
|Late Payment Charges||1% p.a. on unsettled amount|
|Age Requirement||Minimum age: 21 years
Maximum age: 60 years (upon maturity of the facility)
|Minimum Income Requirement||Minimum monthly gross income of RM3,000 or minimum annual income of RM36,000|
|Guarantor/Collateral Requirement||Not required|
|Should I have a linked bank account?||NA|
|For a salaried applicant||For a self-employed applicant||For a commission earner|
|Working in MNC||Working in Non-MNC/PLC||
Online application: A customer can apply for the Alliance Bank CashFirst Personal Loan on the bank’s official website. Customers must submit the duly filled form along with the required supporting documents.
Offline application: A customer can also apply for the loan by visiting the nearest branch of the Alliance Bank.
Q. Do I need to pay the charges for GST (Goods and Services Tax)?
A. The fees and charges applied are excluding of any current or future taxes charged by the bank however the GST is applicable only on the Handling Fees. The bank is entitled to recover any such taxes from the customers if they are implemented in the future.
Q. What happens if I settle my payment fully before the due date?
A. A 3 months’ written notice or 3 months’ interest rate in lieu of such notice is required in case of the early settlement of the payment.
Q. How can I pay for my monthly instalments?
A. You can make your payment via ATM or internet banking with Interbank GIRO (IBG)/Instant Interbank Funds Transfer (IBFT) facility provided by the bank. Additionally, you can also choose to debit the amount via Alliance Online Banking from your current or savings account in the bank.
Q. What if I fail to make any payments on my personal loan?
A. A legal action may be taken against you if you consistently fail to make the payments against your personal loan.
Q. Will I get rebate on early settlement of my personal loan amount?
A. Yes, you will be granted a rebate for early settlement on the interest rate if you settle the loan during the lock-in period. The rebate will be decided by the bank by applying a set formula given below.
I = [n(n+1) x R]/[N(N+1)]
Where I = Rebate (Ibra), n = Number of unserved instalments left in months, R = Total agreed profit rate, N = Total tenure agreed in months.