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The AmBank AmMoneyLine Facility-i is a Shariah-compliant personal loan solution by AmBank designed to meet one’s financial needs. This facility comes with quick approval times, is unsecured, and offers high loan amounts of up to RM100,000.
|Loan Amount||Loan Tenure||Minimum Income||Profit Rate|
|From RM2,000 to RM100,000 (up to 5 times your fixed salary)||From 12 to 60 months (1 to 5 years)||NA||From 8% p.a. to 11.99% p.a. (flat rate basis)|
|Interest Rate||From 8% p.a. to 11.99% p.a. (flat rate basis)|
|Effective Rate||14.13% p.a. to 20.30% p.a.|
|Minimum Loan Amount||RM2,000|
|Maximum Loan Amount||Up to RM100,000|
|Loan Tenure||From 12 months to 60 months|
|Approval Duration||Within 48 hours|
The following are features and benefits associated with the AmBank AmMoneyLine Facility-i:
|Stamp Duty Charges||As per the Stamp Duty Act 1949 Stamping fee of 0.5% of total financing amount disbursed|
|Processing Fee||No processing fee imposed|
|Early Settlement Charges||No early termination fee imposed|
|Late Payment Charges||1% p.a. (before maturity) As per the Islamic Interbank Money Market (IIMM) rate (after maturity)|
|Minimum Income Requirement||NA|
|Guarantor/Collateral Requirement||Not required|
|Should I have a linked bank account?||NA|
|A copy of identity card (MyKad or NRIC)|
|Salary and bank details/statements (as per the bank’s discretion)|
|Any other document as asked by the bank|
Q. I need to apply for RM200,000, can I get this amount approved through this facility?
A. No. You can only apply for a maximum of RM100,000 with this facility.
Q. How much time will it take for it to approve my request?
A. Your request will be processed and approved within 48 hours.
Q. Does I need to bring a guarantor with me at the time of application?
A. No. You don’t need to be accompanied with a guarantor.
Q. What if I settle the amount due before the maturity period? Do I have to pay any fee for that?
A. You are advised to inform the bank 1 month in advance in such cases. There is no termination fee or lock-in period.
Q. Is there any other benefits I can get by opting for this facility?
A. Yes. If you promptly settle the monthly instalment on or before the due date for 12 months, you can earn a 5% rebate on the profit paid towards the loan.