Cash woes? A personal loan to the rescue!
  • Personal Loan BYTES FROM OUR KITCHEN

    AmBank AmMoneyLine Personal Loan

    The AmBank AmMoneyLine is an unsecured personal loan product that comes with low monthly repayments and a high personal loan amount of up to RM100,000.

    Interest Rates

    The following are the interest rates of AmBank AmMoneyLine for 60 months:

    Employment type Loan Amount Flat Rate Effective Rate (for 5 years)
    Salaried Employees RM2,000 to RM20,000 9.99% p.a. 17.26% p.a.
    RM21,000 to RM50,000 8.50% p.a. 14.92% p.a.
    RM51,000 to RM100,000 8.00% p.a. 14.13% p.a.
    Self-employed individuals and commission earners RM2,000 to RM100,000 11.99% p.a. 20.30% p.a.

    Benefits & Features

    The following are the features and benefits of AmBank AmMoneyLine:

    • It doesn’t require any guarantor or collateral.
    • The AmBank AmMoneyLine comes with no processing fee.
    • It comes with low monthly repayment.
    • The loan ranges from RM2,000 to RM100,000.
    • It comes with tenures of 12 to 60 months.
    • It comes with a low approval time. Once applied, you can get the loan approved within 48 hours.
    • In case you make prompt repayments for 12 months, you are eligible to get a 5% rebate on yearly interest.

    Fees and charges

    Let’s take a look at the fees and charges associated with AmBank AmMoneyLine:

    Fee type Fee details
    Processing fee No charge
    Handling fee No charge
    Monthly repayment Monthly repayment is calculated as: [A+(AxRxY)]/M where A = Loan Amount; R = Flat Interest Rate; Y = Tenure in years; M = Tenure in months
    Stamp Duty 0.5% of the financing amount disbursed
    Early settlement fee No charge
    Late Payment charges Late payment penalty would be charged on the outstanding instalment from the due date until the full settlement at a rate of 1% p.a. Calculation: Instalment amount x late payment charge rate x (outstanding days/365)

    Eligibility Criteria

    The eligibility criteria of AmBank AmMoneyLine are given below:

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

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

    For fixed salary earners:

    • Last 1 month salary slip for permanent employees and last 6 months salary slips for employees working on contract, or
    • Latest EPF statement, or
    • Latest Borang BE with payment tax receipt, or
    • Latest EA form released by the employer, or
    • Latest 1-month bank statement from the salary account for the permanent employees and 6-month bank statement from the salary account for employees working on contract

    For permanent as well as contract based fixed salary earners with commission:

    • Latest EPF statement, or
    • Last 6 months’ salary slip with commission, or
    • Latest Borang BE or B with tax payment receipt, or
    • Last 6 months’ salary statement from the salary crediting account, or
    • Latest EA form released by the employer

    For fixed salaried earners with variable allowance and overtime:

    • Latest EPF statement, or
    • Last 3 months salary slip for permanent employees and last 6 months salary slip for employees on contract, or
    • Latest Borang BE with tax payment receipt, or
    • Latest EA form released by the employer, or
    • Last 3 months’ bank statement from the salary crediting account for permanent employers and last 6 months’ bank statement from the salary crediting account for employees on contract

    For full commission earners:

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

    How to apply for the AmBank AmMoneyLine Personal Loan?

    • Offline application: You can apply for AmBank AmMoneyLine at the nearest AmBank branch by filling out the form and submitting the required documents. You can also apply for the loan telephonically by calling the bank’s toll free numbers.
    • Online application: You can also apply for AmBank AmMoneyLine on the bank’s web portal. You need to fill the application form available online with the necessary details and upload the required documents.

    FAQs

    Q. Can I apply for an amount higher than RM100,000?

    A. No. You can only apply for a maximum amount of RM100,000.

    Q. How long does the approval process take?

    A. This usually is a quick process. Once applied, it takes 48 hours to process and approve, provided all documents are in order and the borrower meets the required eligibility criteria.

    Q. Does the process need a collateral?

    A. No. AmBank AmMoneyLine doesn’t require a collateral or guarantor.

    Q. What if I choose to settle the whole loan amount earlier than the designated period?

    A. In cases like these, you have to inform the bank a month prior to the early settlement.

    Q. Will I be charged with any fee if I settle the loan amount before the designated period?

    A. No. You will not be charged with any termination fee.

    Q. What if I miss the due date?

    A. In cases you miss a repayment, you will be charged with a 1% of the outstanding instalment amount as the late payment fee. However if you promptly pay the instalments for 12 months, you are eligible to earn a 5% yearly profit rebate.

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