• Alliance Islamic Home Loan

    Alliance Islamic Bank Home Loan

    Alliance Islamic Bank Berhad (AIS) is a subsidiary of Alliance Bank Malaysia Berhad (ABMB) and is aiming to tap the vast potential in Malaysia’s Islamic banking. The bank offers end-to-end banking and financial solutions through its specialized products in consumer banking, Islamic banking, business banking, investments and stock broking businesses. The group has been servicing the financial community in Malaysia for the last five decades through multi-delivery channels located at every towns.

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

    Alliance Islamic Bank Home Loan Minimum Age

    At least 21 years old

    Alliance Islamic Bank Home Loan Maximum Age

    Less than 70 years old

    Alliance Islamic Bank Home Loan Eligible Employment Type

    Salaried / Self-employed
    with regular income

    Alliance Islamic Bank Home Loan Minimum Income

    Earn more than the minimum
    income required

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

    Alliance Islamic Bank Home Loan Minimum Salary

    Instalment limited to about 50%
    of monthly income

    Alliance Islamic Bank Home Loan Maximum Loan to property value

    Loan capped @ Up to 90% + 5% MRTA

    Alliance Islamic Bank Home Loan EMI

    Instalments of other loans lower
    your eligibility

    Increase your eligible Alliance Islamic Bank Home Loan amount by these steps

    Alliance Islamic Bank Home Loan Add Spouse as Co-applicant

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

    Alliance Islamic Bank Home Loan Maximum Tenure

    Choose longer tenure loan up to 35 years

    Alliance Islamic Bank Home Loan Add parents as Co-applicant

    Alternatively add your parents

    Documentation needed to apply for an Alliance Islamic 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 Islamic Bank Home Loan Interest RatesUpdated on 25 Oct 2016

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

    Why Opt For Alliance Islamic Home Loan Malaysia

    Alliance Islamic Home loan is an excellent way to make flexible loan payments and to deposit or withdraw money from the loan account since it comes clubbed with an overdraft account. This loan will make your payments easier and will give you the power to control the interest rate and loan tenure. Also, a person of any nationality but who wishes to own a residence in Malaysia can opt for this loan. However, the main advantages include:

    Features of Alliance Islamic Home Loan

    The main features of Alliance Islamic Home loans include:

    Islamic basic home financing package includes:

    • 20% off from stamp duty for new loan applications
    • Stamp duty is excluded when refinancing from a conventional loan
    • No establishment charges or monthly maintenance fee
    • Protection from BFR increase

    Islamic flexible home financing package that is linked to the current account

    • No establishment charges or monthly maintenance fee
    • 20% waiver for new loans’ stamp duty
    • Full waiver for homes refinanced from a conventional product

    Interest Rates On Alliance Islamic Home Loan

    The interest rates computed for the calculation of home loan EMI are floating and rates are reduced based on early timely loan payments. The term of the loan can up to 30 years for repayment and 95% margin can be used for the home loan.

    Types of Loans Available in Alliance Islamic Home Loans

    There are a variety of home and property loans available from Alliance Islamic. Here they are with their salient features:

    I-Wish Flexi Home Financing-i

    The i-Wish Flexi Home Financing-I is a flexible and convenient housing loan scheme for people who are looking to buy a new house or for individuals who want to shift their housing loan from other financial institutions to Alliance Islamic Bank. The scheme provides hassle-free loans at attractive interest rates.

    I-Wish Home Financing-i

    The ‘i-Wish Home Financing-I’ housing scheme is one among the most convenient housing loans of Alliance Islamic Bank. It is an Islamic home finance scheme based on the Bai Bithaman Ajil (BBA) concept (sale of goods on a deferred payment basis).

    Home Complete-i Personal Financing

    Home Complete-i Personal Financing is a bundled home loan package with a combination of personal finance and home financing-i. There is no guarantor or collateral security required for availing this loan. Customers can avail up to RM 150,000 for renovation or any other contingency purposes. This loan is offered for maximum 10 years tenure.

    How to Apply For Alliance Islamic Home Loan

    You can apply for the home loan online but you have to keep in mind the following eligibility criterias and documentation before you apply for the loan. Loan application can also be done in the bank branch nearest to you:


    • 18 -70 years of age,
    • Minimum income of RM 24,000,
    • May have any nationality.


    Following are some of the documents that you might be required to submit while applying for this Alliance Islamic Home Loan -

    • Latest EPF Statements
    • Proofs of Income Tax Return
    • Last 6 months’ Bank Statements
    • Salary Slips
    • Employment Proof
    • Property Purchase Agreement
    • Other documents that the bank might deem necessary

    How to Calculate Loan Installment for Alliance Islamic Bank Home Loan?

    Availing a home loan isn’t a small decision and hence customers want to be doubly sure before settling down on a particular home finance scheme. The Alliance Islamic Bank home loan installment calculator helps customers be confident about their monthly installments before they actually avail home finance. This online calculator takes as input the following set of data and processes it to furnish the monthly installment amount and also the amortization table which lists down the repayment schedule in an easy-to-understand way:

    • Desired home loan amount
    • Preferred loan tenure
    • Corresponding profit rate
    • Processing fee

    Home loan amount and loan tenure can be adjusted to reach the most suitable installment amount. Various bank rates and processing fees can be used as input to calculate monthly loan installments and thereby customers can zero down on one particular lending entity which suits them the best.

    Alliance Islamic Home Loan FAQs

    1. Why should you choose Alliance Islamic flexi home financing?

    2. Apart from its flexibility and convenience banking, Alliance Islamic flexi home financing scheme offers great benefits to its customers. Unlike the housing schemes of other banks, the bank does not charge any set up or monthly maintenance fee for the loan. The best part of it is that the customer can earn profits on the deposited loan amount.

      The borrower is also given with a cheque book and ATM card for easy withdrawals from the deposit linked account, which gives him the flexibility to access the bank from anywhere.

      Additionally, the bank provides special discounts, i. e. 20% waive on the stamp duty, for borrowers opting for new purchases, sub-sale, top-up and unencumbered property financing.

      This scheme also puts a cap on the base financing rate, so the borrower does not get affected with the future increase of the rate.

    3. What is the Base Financing Rate of this home loan scheme?

    4. Under the scheme, the bank provides Base Financing Rate (BFR) of up to 2.30%, while for cash-line facility-I the BFR is kept at 1%. With the ever changing financial market, the bank revises its base financing rate every year.

    5. What is the margin of finance of the Alliance flexi home loan?

    6. Based on the income and the eligibility of the customer, the Alliance Islamic Bank provides the margin of finance up to 90 %. The finance entry cost is max up to 70% for cash-line facility-i.

    7. What are the benefits i-Wish Home Financing-I’ housing scheme offers to its customers?

    8. The scheme’s no initial or monthly maintenance fee is a major attraction for many borrowers. Additionally, the bank also provides a 20% refrain on stamp duty to customers who opt for house purchase, top up, sub sale and unencumbered property financing, while the bank refrains the complete stamp duty in case of a refinancing from a conventional loan.

    9. What is the Base Financing Rate of ‘i-Wish Home Financing-I’ housing scheme?

    10. Under this housing loan scheme, Alliance Islamic Bank provides up to 2.30% of Base Financing Rate (BFR). For cash-line facility-I, the basic financing rate is only 1%.

    11. What is the margin of finance for ‘i-Wish Home Financing-I’ housing scheme?

    12. Based on the income and the eligibility of the customer, the Alliance Islamic Bank provides the margin of finance up to 90 %. The finance entry cost is max up to 70% for cash-line facility-i.

    13. What is the applicable interest rate for Home Complete-i Personal Financing?

    14. This loan scheme comes with BFR + 1% profit scheme, and the ceiling rate is 10%.

    15. What are the eligibility conditions for applying for Home Complete-i Personal Financing?

    16. Any Malaysian citizens from 21 – 55 years of age and earning RM 3,000 per month are eligible for applying Home Complete-i Personal Financing

    17. Can I avail this loan along with my spouse as co-applicant?

    18. No. This is a single individual loan scheme.

    19. Is there any other fee associated with this loan?

    20. There will be 0.65% stamp duty on total approved financing amount, which will be deducted from financing amount and compensation charges of 1% p.a. on installment amount overdue (from the due date up to the settlement date).

    21. Is there any lock in period for this loan?

    22. No. There is no lock in period.

    23. Who all can apply for this home loan?

    24. The bank provides this housing loan to any individual who aspires to buy either a fully constructed house or a under construction housing project and having a minimum stipulated income. It also allows customers from other banks to transfer their loan to the bank and avail attractive interest rates and experience hassle-free, convenient banking. Any individual with already a borrower from another bank take a top-up loan from Alliance Islamic Bank.

    25. What is the maximum tenure for which the loan is offered?

    26. The bank allows a maximum tenure for 35 years to repay the loan and an individual who is above 21 years of age and below 70 years of age can apply for this loan.

    Other Products offered by Alliance Islamic Bank:

    Apart from offering Home Loan,Alliance Islamic Bank offers other products and services which include:

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