• Alliance Islamic Bank Personal Loan

    Alliance Islamic Bank Personal Loan

    Alliance Islamic bank personal loans are offered as per the Shariah Concept for the devoted Muslims under the Alliance Islamic CashVantage Personal Financing-i scheme. The scheme comes with flexible repayment options with no security or collateral requirements along with a balance refinancing option for the borrowers.


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

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     Alliance Islamic Bank Personal Loan Minimum Age

    At least 21 years old

    Alliance Islamic Bank Personal Loan Maximum Age

    Less than 60 years old

    Alliance Islamic Bank Personal Loan Eligible Employment Type

    Salaried or self-employed
    with regular income

     Alliance Islamic Bank Personal Loan Minimum Income

    Earn more than the minimum
    income required


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

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    Alliance Islamic Bank Personal Loan Minimum Salary

    Minimum income required
    RM 3,000

    Alliance Islamic Bank Personal Loan Maximum Loan Funded

    Maximum allowed personal loan is RM 100,000

    Alliance Islamic Bank Personal Loan Installments

    Installments of other loans lower
    your eligibility


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

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    Alliance Islamic Bank Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

     Alliance Islamic Bank Personal Loan Tenure

    Choose longer tenure loan up to 7 years


    Documentation needed to apply for an Alliance Islamic Bank Personal Loan

    • 1. A copy of identity card
    • 2. Latest 3 months’ salary slip
    • 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 Islamic Bank Personal Loan Interest RatesUpdated on 07 Dec 2016

    Alliance Islamic Bank Personal Loan Details
    Interest Rate 6.88%
    Minimum Income RM 3,000
    Tenure 7 years
    Guarantor Requirement No Guarantee Required

    The Alliance Islamic Bank offers a wide range of Shariah compliant products and solution, which specially cater to the needs and requirements of its customers. Alliance Islamic bank personal loans are offered as per the Shariah Concept for the devoted Muslims under the Alliance Islamic CashVantage Personal Financing-i scheme. The scheme comes with flexible repayment options with no security or collateral requirements along with a balance refinancing option for the borrowers. The banks products and services were made available to customers in Malaysia through the pre-existing ABMB branch network. Currently the banks operates in Malaysia through 8 Islamic Banking Centers within the ABMB branch network

    Benefits of Alliance Islamic Personal Loan

    Alliance Islamic Bank Personal Loan offers a number of benefits to its customers such as:

    • Alliance Islamic CashVantage Personal Financing-i loan scheme offers flexible financing tenure up to 7 years
    • The loan also offers customers profit rates as low as 8.88% per annum (flat rate basis)
    • The loans come with a zero processing fees and charges
    • The loans also have no early settlement charges
    • Customer can avail of these loans without providing any collateral or security requirements

    Features of Alliance Islamic Bank Personal Loan

    The Alliance Islamic Bank Personal Loan showcases a number of salient features:

    • Customers can be sure of quick and fast approval of their loan application
    • The loan offers customers easy repayment options
    • The maximum allowed amount to avail of this loan is RM 100,000
    • Installment of other loans lower an applicant’s eligibility to avail of this loan
    • The loan is 100% Shariah compliant

    Documentation and Eligibility Criteria For Alliance Islamic Bank Personal Loan

    To avail of a personal loan from Alliance Islamic Bank, customers are required to fulfil the following eligibility criteria as well as provide the following documentation:

    • The customer should be at least 21 years of age or above and less than 60 years of age
    • The customer must earn a regular income and his income must be more than the minimum required of RM 3,000
    • The customer can avail of a personal loan only up to RM 100,000
    • The customer should either be a:
      • Malaysian citizen
      • A permanent resident of Malaysia
      • Employee or worker with a Malaysian work permit
    • The following documents are also required to be submitted:
      • A copy of identity card
      • Latest 3 months salary slip
    • Documentation for salaried applicants:(Anyone)
      • Latest 1 month payslip (fixed)/3 months payslip (variable)
      • Latest EA Form
      • Latest 6 months EPF statement
    • 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 Islamic Bank Personal Loan Interest Rate

    Alliance Islamic Bank offers personal loans at a fixed interest rate of 0.57% per month or a fixed interest rate of 6.88% - 8.88% per annum, depending on the monthly salary of the applicant. The loan may also be used for debt consolidation.

    FAQs on Alliance Islamic Personal Loan

    Q. What are processing fee and compensation charges for Alliance CashVantage Personal Financing-i loan?

    A. Alliance Islamic CashVantage Personal Financing-i loan personal loan comes with zero processing fees as well as zero charges towards an early settlement of the loan. Compensation charges towards late payment are applicable at 1% per annum on installment amount overdue, accruing from the due date up to the date of settlement.

    Q. What are the stamp duty charges under Alliance CashVantage Personal Financing-i scheme?

    A. Under the Alliance Islamic CashVantage Personal Financing-i personal loan scheme, a stamp duty Fee (0.5%) as per Stamp Duty Act 1949 (revised 1989)] & Handling Fees (0.05%) is applicable

    Q. Is there any way I can calculate my loan Installments under the Alliance Islamic Bank Personal Loan?

    A. Bbazaar.my hosts a personal loan installment calculator tool that will make your financial planning easier to handle. This calculator takes as input the personal loan amount that you wish to avail, the loan tenure that you most prefer and the corresponding profit rate applicable on your personal loan. All these details are then processed by the online calculator to yield as result the final Alliance Islamic Bank personal loan installment amount. This tool is helpful in letting customers know of their tentative monthly installment amount so that they get a fair idea of how much they are required to set aside from their monthly budget.

    Q. What are the ways I can increase my eligibility to avail of a Kuwait Finance House Bank Personal Loan?

    A. You can increase your eligibility via the following steps:

    • Consistent and regular repayment of your credit card bills
    • Opting for a loan with a longer tenure of up to 7 years

    Q. What is the Shariah Concept for banking?

    A. The Shariah concept or commodity Murabaha in Islamic Financing refers to a trade contract between a customer’s and the Bank via a third-party commodity broker to realize cash for financing.

    Other Products offered by Alliance Islamic Bank:

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

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