• Personal Loan BYTES FROM OUR KITCHEN

    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

    The following are the effective rate interest rates of AmBank AmMoneyLine Facility-i:

    Flat Interest Rate Tenure (In months)
    12 months 24 months 36 months 48 months 60 months
    8.00% p.a. 14.45% p.a. 14.68% p.a. 14.55% p.a. 14.35% p.a. 14.13% p.a.
    8.50% p.a. 15.34% p.a. 15.55% p.a. 15.40% p.a. 15.17% p.a. 14.92% p.a.
    9.99% p.a. 17.95% p.a. 18.14% p.a. 17.90% p.a. 17.58% p.a. 17.26% p.a.
    11.99% p.a. 21.44% p.a. 21.55% p.a. 21.18% p.a. 20.74% p.a. 20.30% p.a.

    The flat rate for salaried employees vary from 8.00% to 9.99% p.a. whereas the effective rate ranges from 14.13% p.a. to 17.95% p.a.

    The flat rate and effective rate for self-employed individuals and commission earners are 11.99% p.a. and 20.30% p.a. respectively.

    Benefits & Features

    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

    The fees and charges associated with AmBank AmMoneyLine Facility-i are listed below:

    Type of fee Fee details
    Processing fee No fee
    Handling and disbursement fee No fee
    Monthly repayment Monthly repayment is measured as: [F+(FxRxY)]/M where F = Financing Amount; R = Flat Interest Rate; Y = Tenure in years; M = Tenure in months
    Stamp Duty Stamping fee is 0.5% of the financing amount disbursed
    Early settlement fee No charge
    Late Payment charges (before maturity date) Late payment penalty would be charged on the outstanding instalment at a rate of 1% p.a.
    Late Payment charges (after maturity date) Late payment penalty would be calculated according to the Islamic Interbank Money Market (IIMM) on the outstanding balance.

    Eligibility Criteria

    • Minimum age requirement: 21 years.
    • Minimum income requirement: RM24,000 p.a.

    What documents do I need to prepare for AmBank AmMoneyLine Facility-i Personal Loan?

    For fixed salary earners:

    • Latest 1 month salary slip for permanent employees and latest 6 months' salary slips for the employees working on contract, or
    • Most recent 12 months EPF statement
    • Most recent 12 months EA form
    • Latest Borang BE with payment tax receipt, or
    • Last 1 month bank statement from the salary account for the permanent employees and last 6 months’ bank statement from the salary account for employees working on contract

    For fixed salary earners with commission:

    • Latest 12 months EPF statement
    • Latest Borang BE or B with tax payment receipt, or
    • Latest 6 months’ salary slip with commission, or
    • Last 6 months’ salary statement from the bank account where salary is being credited, or
    • Latest 12 months EA form

    For fixed salaried earners with variable allowance:

    • Latest 12 months EPF statement
    • Latest Borang BE with tax payment receipt, or
    • Latest 3 months’ salary slip for permanent employees and last 6 months’ salary slips for employees working on contract, or
    • Latest 12 months EA form or
    • Last 3 months bank statement from the bank account where salary is being credited for permanent employers and last 6 months’ bank statement from the bank account where salary is being credited employees on contract

    For full commission earners:

    • Latest Borang BE or B with tax payment receipt, or
    • Last 6 months’ commission statement, or
    • Latest 6 months’ bank statement from the bank where commission is credited

    How to apply for AmBank AmMoneyLine Facility-i Personal Loan?

    • 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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