• Alliance Islamic Bank Home Loan

    Alliance Bank Home Loan

    Alliance Bank offers two types of Islamic home loans, i-Wish Home Financing-i and Home Complete-i personal financing. They are both Shariah-compliant products. i-Wish Home Financing-i is based on the Bai Bithaman Ajil concept and Home Complete-i personal financing is based on Commodity Murabaha.


    You’re probably eligible for an Alliance Bank Home Loan if you are

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    Alliance Bank Home Loan Minimum Age

    At least 21 years old

    Alliance Bank Home Loan Maximum Age

    Less than 70 years old

    Alliance Bank Home Loan Eligible Employment Type

    Salaried / Self-employed
    with regular income

    Alliance Bank Home Loan Minimum Income

    Earn more than the minimum
    income required


    Your Alliance Bank Home Loan amount eligibility is based on these factors

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    Alliance Bank Home Loan Minimum Salary

    Instalment limited to about 50%
    of monthly income

    Alliance Bank Home Loan Maximum Loan to property value

    Loan capped @ Up to 90% + 5% MRTA

    Alliance Bank Home Loan EMI

    Instalments of other loans lower
    your eligibility


    Increase your eligible Alliance Bank Home Loan amount by these steps

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    Alliance Bank Home Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant,
    and her income will add
    to your eligibility

    Alliance Bank Home Loan Maximum Tenure

    Choose longer tenure loan up to 35 years

    Alliance Bank Home Loan Add parents as Co-applicant

    Alternatively add your parents


    Documentation needed to apply for an Alliance Bank Home Loan

    • 1. NRIC / Identity Card.
    • 2. Copy of Sales and Purchase or Booking Receipt or Letter of Offer from Developer.
    • 3. Copy of Individual Title Deed.
    • 4. Property Valuation Report (for completed properties).
    • 5. Latest 3 consecutive months of salary slips / vouchers.
    • 6. Latest EPF statements (with 3 consecutive months or more transaction history).
    • 7. Latest 6 months Bank Statement.

    Alliance Bank Home Loan Interest RatesUpdated on 20 Nov 2017

    Alliance Bank Home Loan Details
    Margin of Finance Up to 90% + 5% MRTA
    Tenor 35 years
    Guarantor Requirement No Guarantee Required

    Alliance Bank offers a conventional home loan, commercial property financing, oil palm plantation land financing, home complete, and Islamic financing. The monthly maintenance fee is not charged. Redraw facility is offered which lets you enjoy interest savings.

    Features and benefits of Alliance Bank home loan

    Following are the features and benefits of Alliance Bank home loan:

    • Fixed or floating interest rates are offered.
    • Collateral needs to be submitted as security against a home loan.
    • You are required to repay the home loans in monthly installments.
    • You can prepay the loan before the tenure ends.
    • The home loan tenures range between 5 – 35 years.
    • You can avail loan up to 90% of the home value.
    • Stamp charges, processing fees, etc. will be charged.

    Types of Alliance Bank home loans schemes

    Alliance Bank offers the following types of home loan schemes:

    1. Home/ Term Financing:
    2. This is a conventional home financing. You need not pay any monthly maintenance fee. You can avail the optional redraw facility which will allow you to deposit and withdraw excess funds while saving on interest.

      Financing amount RM350,000
      Effective financing rate 4.75% p.a.
      Financing tenure 35 years or up to 70 years of age.
      Interest rate Variable interest rate attached to the Base Rate.
      Age requirement 21 years and above
      Margin of financing Up to 90% of the value of the home + 5% Mortgage Reducing Term Assurance or Financed Entry Cost. Maximum 70% of overdraft facilities.

      If you want to finance for a property under construction, you will have to pay the interest during the construction period. If the financing tenure extends your retirement age, you will have to make arrangements to continue the payments through endowment policies or savings plans.

    3. Commercial Property Financing:
    4. This is also a basic conventional term financing. You can avail the optional redraw facility which will allow you to deposit and withdraw excess funds while saving on interest. You need not pay any monthly maintenance fee.

      Financing tenure 25 years or up to 70 years of age.
      Interest rate Variable interest rate attached to the Base Rate.
      Age requirement 21 years and above
      Margin of financing Up to 85% of the value of the home + 5% Mortgage Reducing Term Assurance or Financed Entry Cost. Maximum 70% of overdraft facilities.
    5. Oil Palm Plantation Land Financing:
    6. This is a basic conventional term financing. You can benefit from the optional redraw facility which will allow you to deposit and withdraw excess funds while saving on interest. You need not pay any monthly maintenance fee.

      Financing tenure 20 years or up to 70 years of age.
      Interest rate Variable interest rate attached to the Base Rate.
      Age requirement 21 years and above
      Margin of financing Up to 70% of the value of the home.
      Financing limit Up to RM3 million.
    7. Home Complete:
    8. This is an affordable personal financing that is offered at low-interest rates and is bundled with mortgage financing. An additional facility is offered for refurbishment, and renovation of the home. You can apply for both mortgage and personal financing together. There is no need for a guarantor and you need not even provide collateral.

      Financing tenure Up to 10 years.
      Interest rate Variable interest rate attached to the Base Rate.
      Age requirement 21 years – 60 years.
      Financing type Not applicable for individuals who have more than 2 home/term financing.
      Minimum income requirement RM3,000 per month.
      Financing limit Up to RM150,000.
    9. Islamic Financing:

      There are two types of Islamic home financing offered:

      • i-Wish Home Financing-i:

        This is a Shariah compliant product that is based on Bai Bithaman Ajil concept. There is no set-up fee charged. The goods are sold on a deferred payment basis. You will be entitled to a full waiver on the stamp duty when refinancing from conventional to Islamic financing.

      • Profit rate Variable rate that is attached to the base rate.
        Loan tenure Up to 35 years or 70 years of age
        Age 21 years and above.
        Financing type Subscale. Completed or under-construction property. Refinancing from another bank. Top-up financing.
        Margin of financing Up to 90% of the value of the home + 5% Financed Entry Cost or Mortgage Reducing Term Takaful. Maximum 70% MOF for Cashline Facility-i.
      • Home Complete-i personal financing:

        This is a personal financing product that is attached with home financing-i. You need not have a guarantor or a collateral. You get up to RM150,000 financing for renovation or contingency purposes. The loan is offered for up to 10 years.

      • Profit rate Variable rate attached to the base rate.
        Loan tenure Up to 10 years.
        Ceiling rate 10%
        Minimum income requirement RM3,000 per month.
        Age 21 years – 55 years.
        Profit calculation Reducing balance, term financing.
        Financing limit Up to RM150,000.
        Financing type Single applicant. No guarantor or collateral required. Applicable for those who don’t have more than 2 home/term financing.

    Alliance Bank home loan interest rates

    The interest rates offered are floating or variable interest rates. It is attached to the base rate. The margin of financing is up to 90% of the value of the home.

    Fees and charges

    Following fees and charges will be applicable:

    Set-up fee RM200
    Withdrawal fee RM50 for every withdrawal.
    Professional legal fee Will include the financing agreement, disbursement fee, and stamp duty charges.
    Valuation fee Will be charged for formal valuation report.
    Late payment charge 1% of the amount in arrears. If you do not make prompt repayment, the bank will increase the current interest by 0.75%.
    Stamp duty charges 0.5% of the total amount approved.
    Handling fees RM12.
    Compensation charges 1% p.a. of the installment amount overdue.

    Eligibility criteria

    You can apply for a home loan if you are above the ages of 21 and below 60 years. The loan tenure should end when you are 70 years old. You will have to meet the minimum income requirement as well. You can be a Malaysian citizen or a non-Malaysian citizen. You should have a good credit history. The nature of your employment is pivotal.

    How to apply for Alliance Bank home loan?

    You can apply for the Citi Home Loan through the following ways:

    • By phone:

    You can call 03-5516-9988 and the bank representative will guide you the process.

    • Online:

    You can provide all your information online and the bank representative will get in touch with you.

    • Face to face:

    You can walk into the nearest Alliance Bank branch and apply for the home loan.

    How to make monthly installments payments?

    You can pay the monthly installments through the following ways:

    • From your savings or current account.
    • Direct debit.
    • Online banking.
    • Standing instruction.
    • Interbank GIRO or Instant Interbank Funds Transfer.
    • ATM.
    • Over-the-counter at Alliance Bank Branch.

    Mortgage calculator

    You can use the mortgage calculator that is available on the Alliance Bank Website. You will have to enter the house cost, monthly income, loan tenure, and profit rate. After you have click on the calculate button, you will get the monthly repayment value, and the maximum loan amount you can get and the maximum monthly repayment you have to pay.

    Alliance Bank home loan hotline number

    If you are having difficulty with making payments, you can call at 03-5516-9988 or send a fax to 03-5516-9399. You can drop an email at info@alliancefg.com. The toll-free number is 1-800-22-2575. If you want to place a complaint, you can call 03-2604-3300, send a fax to 03-2691-8229, or email at info@alliancefg.com.

    Documents required

    You will have to submit the following documents along with the duly filled application form:

    • Identity card or NRIC.
    • Copy of Individual Title Deed.
    • Copy of Sales and Purchase, or Letter of Offer from Developer, or Booking receipt.
    • Latest 3 months’ salary slips.
    • Property valuation report.
    • Latest 6 months bank statement.
    • Latest EPF statements.

    Alliance Bank home loan FAQs

    1. What should I do if I change my contact details?

      If there has been any change in your contact details, you must inform the bank immediately or call 03-5516-9988.

    2. Will I be charged any monthly maintenance fee?

      No, you will not be charged any monthly maintenance fee.

    3. What is the maximum margin of finance offered?

      You get a maximum margin of finance of up to 90% of the home value + 5% mortgage reducing term assurance. Maximum MOF 70% overdraft facility is offered under the scheme.

    4. What is the tenure of conventional home loan offered by Alliance bank?
    5. The maximum tenure offered is 35 years or till you turn 70 years of age.

    6. What is the maximum loan offered under Home Complete?

      The maximum loan amount offered under Home Complete is RM150,000.

    7. What is the financing limit for Oil Palm Plantation Land Financing?

      The maximum financing limit for Oil Palm Plantation Land Financing is RM3 million.

    8. Do I need a collateral or a guarantor to avail Home Complete financing?

      No, you don’t need a collateral or a guarantor to avail Home Complete financing.

    9. What are the different types of home loan schemes offered by Alliance Bank?

      Alliance Bank offers a conventional home loan, commercial property financing, oil palm plantation land financing, home complete, and Islamic financing.

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