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AmBank AmMoneyLine Facility-i Personal Loan

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.

Interest Rates

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)

Features

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
Islamic/Conventional Islamic
Debt Consolidation NA
Takaful Coverage NA
Approval Duration Within 48 hours
Government Servant? NA

Benefits

The following are features and benefits associated with the AmBank AmMoneyLine Facility-i:

  • The applicant doesn’t need collateral or a guarantor.
  • It does not charge any handling or processing fee.
  • One can enjoy a low monthly repayment schedule based on loan amount and tenure chosen.
  • The tenure available is between 12 months to a maximum of 60 months.
  • One can borrow a minimum of RM2,000 to a maximum of RM100,000 from this facility.
  • The facility requires a very little processing and approval time. One can get the loan approved within 48 hours of the application.
  • The facility comes with a flat profit rate starting as low as 8% p.a.
  • If the repayments are made promptly on or before the due date for 12 months, one can earn a 5% yearly profit rebate.
  • The facility is inclusive of takaful protection.

Fees and charges

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
Brokerage Fee NA

Penalties

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)

Eligibility Criteria

Age Requirement NA
Employment NA
Minimum Income Requirement NA
Guarantor/Collateral Requirement Not required
Should I have a linked bank account? NA

What documents do I need to prepare for this?

Documents Required
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

How to apply ?

  • Applying at bank’s branch: One apply for AmBank AmMoneyLine Facility-i at the nearest AmBank branch. The required details need to be filled in the application form and submitted along with the supporting documents.
  • Applying telephonically: Another option to apply for the AmBank AmMoneyLine Facility-i is by putting a request telephonically by calling the bank’s toll free numbers.
  • Applying online: One can also apply for the loan online through the bank website. Applicants must fill out the application form online and upload the supporting documents on the bank’s official website.

FAQs

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.

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