A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • Home Loan BYTES FROM OUR KITCHEN

    Alliance Bank Home Loan

    The Alliance Bank’s conventional home loan scheme offers flexible financing tenures to customers which enable them to own their dream home.

    Quick Reads

    Housing Loan Schemes by Affin Bank

    Interest/Profit Rates

    Loan Tenure Interest Rate
    Up to 35 years Variable rate pegged to Base Rate

    Eligibility Criteria

    Nationality Criterion Malaysian or Non-Malaysian resident
    Age Criteria
    • Minimum age: 21 years
    • Maximum age: 70 years
    Income Criteria -

    Fees & Charges

    Alliance Bank Home Loan Fees and Charges
    Set up Fee RM200 (one time off)
    Withdrawal Fee RM50 for every withdrawal of excess fund in advance payment
    Professional Legal Fee It includes- Fee for preparation of financial agreement, Stamp duty and Disbursement fee
    Valuation Fee Fee charged for preparing the formal valuation report (applicable for completed properties only)
    Late Payment Fee 1% p.a. on the sum in arrears
    Monthly Maintenance Fee No fee charged
    Commitment Fee 1% p.a. on any unutilised portion of the overdraft facility above RM250,000

    Documents Required

    • Documents related to the Sale and Purchase Agreement with developer or Booking Receipts
    • Property Valuation Report (if any)
    • For Salaried Individual:
      • Copy of identity card or passport
      • Latest 3 months’ salary slips
      • Latest EPF Statement
      • Latest EA Form
    • For Self-employed Individual:
      • Latest 6 months’ current account statements
      • Business registration certification (if applicable)
      • Tax payment receipts (if applicable)

    Type Of Alliance Bank Home Loan

    • Conventional Home Financing: Alliance Bank’s Conventional Home Financing is a home loan scheme that provides affordable interest rate to the customers and services such as redraw facility.

    Features & Benefits

    • It is a basic conventional home financing facility provided by Alliance Bank, Malaysia.
    • This is a secured type of home loan facility for which a customer needs to offer his property as security to the bank.
    • The home financing scheme comes with a redraw facility that allows customers to deposit and withdraw excess fund so that they can enjoy substantial savings on the interest rates.
    • Customers are not required to pay any monthly maintenance fee against their home loan.
    • The loan is calculated on a variable rate basis.
    • A customer can obtain a loan tenure of up to 35 years.
    • Borrowers can get a margin of financing of up to 90% through the Conventional Home Financing scheme. In addition,they will also get an extra 5% as Mortgage Reducing Term Assurance and/or Financed Entry Cost.
    • The customer can obtain an overdraft facility of up to 70%.

    How To Apply

    The Alliance Bank Home Loan application process can be conducted by the following ways:

    Offline Application: Customers can visit the nearest branch of Alliance Bank to collect the application form for the home loan. They must fill the form and attach all required documents before submitting it to the customer service agents at the bank.

    Online Application: Interested candidates can find the application form for the Alliance Bank Home Loan on the official website of the bank. On filling the name and contact details in it, the application will get submitted through the website. Further procedures should be carried out as guided on the website.

    Alliance Bank House Loan Repayment

    • Tenures Available: Up to 35 years
    • Modes of Repayment:
      • Interbank GIRO (IBG)/Instant Interbank Funds Transfer (IBFT) via ATM or Internet Banking
      • From Alliance current or saving account - Direct debit via Alliance Online Banking or Standing Instruction (SI)
      • Via any Alliance Bank branch or at the self-service booth
    • Any Extra Charges For Early Payment: A pre-determined percentage on the approved amount.

    Contact Number

    For any enquiries on application status, application form, customer service or any other queries, a customer can contact the department on the following hotline numbers: 3-5516 9988 (Personal) and 1-300-80-3388 (Business).

    FAQ's

    Q. I am a 60- year old self-employed individual. Can I apply for the Alliance Bank Home Loan?

    A. At the end of the loan’s tenure, a customer should age no more than 70 years. The tenure validity in this case would be up to 10 years. For further assistance, please contact the bank officials on 1-300-80-3388.

    Q. If I deposit excess money into my home loan account, can I withdraw it later?

    A. Yes, you are eligible to withdraw the excess cash that you have been putting in your home loan account in additional to your monthly instalment amount. Withdrawing of excess amount is a chargeable facility and a customer will have to pay RM50 per such withdrawal through the Advance Payment facility.

    Q. What is a valuation fee?

    A. Valuation fee is the fee charged to the customers by the bank to prepare the formal valuation report. The valuation charges are only applied for completed properties.

    Q. I am obtaining a loan for my under construction property. Do I have to serve the interest on the property loan during its construction period?

    A. Yes. You will have to serve the interest on your loan during the service period too. This interest rate will be calculated at the effective rate on the daily outstanding amount and need to be paid every month. The bank can deposit the charged sum from your account every month without any prior notice.

    Q. What are the charges in need to serve if I fail to set-off my monthly dues?

    A. You will have to pay the late payment charges 1% p.a. on your amount in arrears. On failing to repay your dues for two consecutive months, the bank will increase your current interest rate by 0.75%. On any further defaults, your current interest rate will be revised to Base Lending Rate (BLR) + 0% or Base Rate (BR) + 2.85%, or 1% above usual facility interest rate, whichever is higher.

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