• Personal Loan BYTES FROM OUR KITCHEN

    Alliance Bank CashFirst Personal Loan

    The Alliance Bank CashFirst Personal Loan offers competitive rates, low monthly repayments and flexible tenures going up to 7 years.

    Interest Rates

    Applicants Profit Rate (Flat Rate) Effective Rate
    For New Customers and Existing Cardholders 8.38% p.a. to 14.78% p.a. 14.73% p.a. to 24.37% p.a.

    Benefits and Features

    • The customer can get the personal loan at an interest rate as low as 8.38% p.a. (flat rate basis).
    • The instalments for Alliance Bank CashFirst Personal Loan can start from as low as RM94 per month based on the loan amount and tenure chosen.
    • The loan has a tenure of a maximum of 84 months or 7 years.
    • There is no processing fee charged on the loan.
    • The loan has an easy application process and comes with quick approval times.
    • It is not mandatory to present a guarantor or collateral while applying for the loan.
    • A customer can opt for an easier repayments via the online banking facility available on the bank’s official website.

    Fees and Charges

    Fee type Fee details
    Processing fee No processing fee is charged
    Handling fee RM12
    Stamp Duty 0.5% on total permitted loan amount (as per Stamp Duty Act 1949 (revised 1989))
    Goods and Service Tax (GST) GST will be applicable only on the handling fee. No other services with be charged with the Goods and Services Tax.
    Early settlement fee Only 3 months’ written notice or 3 months’ interest rate in lieu with such notice is required
    Late Payment Fee 1% on the amount due will be charged per annum

    Eligibility Criteria

    • Only Malaysian citizens and permanent residents residing and working in Malaysia can apply for the Alliance Bank CashFirst Personal Loan.
    • Malaysian citizens who are working in Singapore but residing in Malaysia will also be considered for this bank Personal Loan.
    • Minimum age of the applicant must be 21 years.
    • The applicant should not be more than 60 years old at the time of maturity of the facility.
    • The applicant should have minimum gross monthly income of RM3,000 or RM36,000 p.a.

    What documents do I need to prepare for Alliance Bank CashFirst Personal Loan?

    For Salaried Employees at MNCs:

    • Copy of NRIC (front and back) and
    • Disbursement Account particulars/details (First page of the bank statement or passbook with applicant’s sole name)
    • Latest 1 month salary slip (fixed) or 3 months’ salary slips (variable) or
    • Latest 6 months’ EPF statements
    • Latest EA Form
    • Latest BE Form along with validated payment slip/receipt

    For Salaried Employees at Non-MNC or PLCs:

    • Copy of NRIC (front and back) and
    • Disbursement Account particulars (First page of the bank statement or passbook with applicant’s sole name) and
    • Latest 3 months’ salary slips or
    • Latest 6 months’ EPF statements or
    • Latest BE Form along with validated payment slip/receipt to LHDN

    For Self-Employed:

    • Copy of NRIC (front and back) and
    • Disbursement Account particulars (First page of the bank statement or passbook with applicant’s sole name) and
    • A copy of current and valid Business Registration Card (business must be at least 2 years old) and
    • Latest 6 months’ payslips or
    • Latest 6 months’ company’s principal bank statements that displays business turnover or
    • Latest 6 months’ EPF statements or
    • Latest BE Form along with validated payment slip/receipt to LHDN

    For Commission-earners:

    • Copy of NRIC (front and back) and
    • Disbursement Account particulars (First page of the bank statement or passbook with applicant’s sole name) and
    • Latest 6 months’ commission statement/payment vouchers verified against bank statements or
    • Latest EA Form or
    • Latest BE Form along with validated payment slip/receipt to LHDN

    How to apply for Alliance Bank CashFirst Personal Loan?

    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.

    FAQs

    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.

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