• Alliance Bank Personal Loan

    Alliance Bank Personal Loan

    Loans are the most viable way to provide the much needed influx of cash especially when the requirements are for an emergency. Personal loans when used effectively can be a great tool to manage finances more efficiently. It offers the borrower the required cash without the borrower needing to liquidate any investments or dip into their savings. The Alliance bank personal loans offer the borrower not just the required cash but make sure the loan doesn’t become a hassle to avail and doesn’t cost too much.

    The loans can be for an emergency and at such times, it is not viable to run from pillar to post waiting for approvals and putting down collateral. The personal loans from Alliance bank do not require any collateral or guarantor. The loans are also easier on the pocket with no processing fees or early settlement fees. Thus borrowers can get the loan amount they need without it being siphoned off for processing charges which can go up to 1% of the loan amount. They can also pay it off early without incurring any penalties. The personal loans from Alliance bank come in both conventional and Islamic formats and have tenures that range up to 7 years.


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

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     Alliance Bank Personal Loan Minimum Age

    At least 21 years old

    Alliance Bank Personal Loan Maximum Age

    Less than 60 years old

    Alliance Bank Personal Loan Eligible Employment Type

    Salaried or self-employed with regular income

     Alliance Bank Personal Loan Minimum Income

    Earn more than the minimum income required


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

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    Alliance Bank Personal Loan Minimum Salary

    Minimum income required RM 3,000

    Alliance Bank Personal Loan Maximum Loan Funded

    Maximum allowed personal loan is RM 100,000

    Alliance Bank Personal Loan Installments

    Installments of other loans lower your eligibility


    Increase your eligible Alliance Bank Personal Loan amount by these steps

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    Alliance Bank Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

     Alliance Bank Personal Loan Tenure

    Choose longer tenure loan up to 7 years


    Documentation needed to apply for an Alliance Bank Personal Loan

    • 1. Copy of MyKad
    • 2. Disbursement Account particulars
    • 3. Documentation for salaried applicants:(Anyone)
      • Latest 1 month payslip (fixed)/3 months payslip (variable)
      • Latest EA Form
      • Latest 6 months EPF statement
    • 4. Documentation for self Employed applicants:(Anyone)
      • Latest 6 months pay slip
      • Latest 6 months company's principal bank statement reflecting business turnover
      • Latest 6 months EPF statement

    Alliance Bank Personal Loan Interest RatesUpdated on 28 Jul 2017

    Alliance Bank Personal Loan Details
    Interest Rate 7.68%
    Minimum Income RM 3,000
    Tenure 7 years
    Guarantor Requirement No Guarantee Required

    Alliance Bank began its operations in Malaysia as Banque de L’Indochine in 1958. Now, Alliance Bank is part of the Alliance Financial Group which offers all kinds of business and financial solutions to individual and corporate customers. Among the various credit products offered by Alliance Bank, its personal loans are one of the most popular in Malaysia.

    Features and Benefits of Alliance Bank Personal Loans

    Why should you get an Alliance Bank personal loan? Because of its exciting features, which are listed below:

    • Unsecured Loan: Alliance Bank’s personal loan products are unsecured in nature, which means that you don’t have to submit any collateral or guarantor as a security against which to borrow money.
    • High Loan Amount: You can borrow between RM5,000 and RM150,000 from Alliance Bank.
    • Flexible Loan Tenures: Alliance Bank allows you to take personal financing with repayment periods of up to 7 years. This means your monthly repayment amount would be low and you will have greater flexibility and be able to have better money management.
    • Fast Approval: Personal financing products are approved by Alliance Bank within 1 to 3 days, meaning you don’t have to wait forever to get funds for your immediate needs.
    • Processing Fee Waiver: Alliance Bank does not charge any processing fee for giving you a personal financing product which will save you from incurring some extra costs.
    • No Prepayment Fee: If you want to close your loan before the end of the term of the loan, you can do so without worrying about having to pay any early settlement fee.
    • Low Finance Rates: Alliance Bank offers competitive interest rates that make monthly instalments as low as RM92 for a 7-year loan of RM5,000.

    Personal Loans Offered by Alliance Bank

    Alliance Bank offers the following personal loan products:

    1. Alliance CashFirst Personal Loan: This is a conventional banking personal loan which gives you access to the necessary funds for personal or business use.
    2. Alliance CashVantage Financing-i: This is an Islamic banking product based on the Shariah principle of Tawarruq.

    Alliance Bank Personal Loan Interest Rates

    Both Alliance CashFirst and Alliance CashVantage are offered at a flat rate of 7.68% p.a. Other applicable fees on the loan are:

    • Late Payment Fees: You need to pay 1% p.a. extra on the pending instalment amount until you pay it off.
    • Stamp duty and handling fees: You need to pay a stamp duty of 0.5% and handling fees of RM12 plus GST.

    Eligibility Criteria

    The following persons can apply for an Alliance Bank personal loan:

    • Malaysians and Permanent Residents working and residing in Malaysia
    • Malaysians working in Singapore, but residing in Malaysia
    • Persons who are at least 21 years old and will not exceed 60 years at the end of the loan period
    • Persons who earn at least RM3,000 per month or RM36,000 per annum.

    Documents Required

    • For salaried employees:
      • Copy of both sides of MyKad
      • Copy of bank statement or passbook of the account in applicant’s name into which the loan has to be disbursed
      • Payslips for 1 month, or 3 months if your salary is variable
      • Most recent EA Form
      • EPF statement for the past 6 months
      • Latest BE Form with validated receipt
    • For self-employed persons:
      • Copy of both sides of MyKad
      • Copy of bank statement or passbook of the account in applicant’s name into which the loan has to be disbursed
      • Copy of current Business Registration Card
      • Salary slips for the last 6 months OR
      • Principal bank statement of the company for the last 6 months OR
      • EPF statement for the last 6 months OR
      • Latest B Form and validated payment slip/receipt to LHDN
    • For commission-earners:
      • Copy of both sides of MyKad
      • Copy of bank statement or passbook of the account in applicant’s name into which the loan has to be disbursed
      • Commission statements/payment vouchers for the last 6 months OR
      • Latest EA Form OR
      • Latest B Form and validated payment slip/receipt to LHDN

    How to Apply for Alliance Bank Personal Loans

    You can apply for an Alliance Bank personal loan in 3 ways:

    • Online: You can go to the bank’s website and provide your personal and contact details. The bank will get in touch with you anEarly settled take your application forward.
    • Phone: You can call 03-5516 9988 and express your interest in getting a personal loan.
    • At a branch: You can visit one of Alliance Bank’s branches in Malaysia with the required documents and apply for the loan directly.

    Alliance Bank Personal Loan FAQs

    Q. Can I get a floating loan from Alliance Bank?

    A. Alliance Bank does not offer floating loans for its personal financing products.

    Q. Can I pay off my personal loan before the tenure ends?

    A. Yes, you can. With the Alliance CashFirst, you need to inform the bank 3 months in advance before you close the loan, or pay the interest rate for 3 months. Early settlement fee is waived for Alliance CashVantage customers.

    Q. What happens if I do not pay my monthly instalments?

    A. If you do not pay your monthly instalments, you will first be charged a late payment fee. If you don’t pay it for a few months consecutively, the bank can take legal action and your credit scores will be hit.

    Q. How can I ensure that my family will not have to bear the loan burden if I die before the tenure ends?

    A. You can take a Personal Loan Reducing Term Assurance (for CashFirst) or Group Credit Family Takaful (for CashVantage) insurance. This will offer coverage against your death or permanent disablement and your family will not have to pay off the loan to the bank. This is an optional coverage and not compulsory.

    Q. How can I pay my monthly instalments?

    A. You can make monthly instalment payments in the following ways:

    • InterBank GIRO transfer or Instant Interbank Funds Transfer (IBFT)
    • Funds transfer through internet banking
    • Through ATM machines
    • Standing instruction for auto-debit from your current or savings accounts

    Other Products Offered by Alliance Bank:

    Apart from offering personal loan, Alliance Bank offers other products and services which include:

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