• Ambank Home Loan

    Ambank Home Loan

    One of the most crucial criterion for a home loan is the margin offered for loan amount by the bank. This generally starts at 80%, but often financing the remaining 20% can be overwhelming for people. Ambank however offers a margin of 95%, which means that you are getting a lot less to worry about. But this is not the end of it. You get the advantage of a flexible loan tenure of upto 35 years. Ambank is one of the most reputed international banks not just in Malaysia but all over South-east Asia. This not stop the bank being extremely humble in their customer approach and product categorizations suit people from all walks of life. The interest rate charged for this home loan is floating and is also based on some crucial factors such annual income and credit history of the applicant. The processing fee is as low as RM 200 and an applicant can be as young as 18 years, to be able to apply for this loan. The main criteria which is also reasonably low, is that the individual’s annual income should be at least RM 24,000. MRTA, an optional insurance for the loan is also available to borrowers. But that is not the end of it. You also get a mandatory fire insurance with this loan. To get more answers to your questions about this loan read on to get more clarity about this product.


    You’re probably eligible for an Ambank Bank Home Loan if you are

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    Ambank Bank Home Loan Minimum Age

    At least 18 years old

    Ambank Bank Home Loan Maximum Age

    Less than 65 years old

    Ambank Bank Home Loan Eligible Employment Type

    Salaried / Self-employed
    with regular income

    Ambank Bank Home Loan Minimum Income

    Earn more than the minimum
    income required


    Your Ambank Bank Home Loan amount eligibility is based on these factors

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    Ambank Bank Home Loan Minimum Salary

    Installment limited to about 50%
    of monthly income

    Ambank Bank Home Loan Maximum Loan to property value

    Loan capped @ Up to 90% + 5% MRTT

    Ambank Bank Home Loan EMI

    Installments of other loans lower
    your eligibility


    Increase your eligible Ambank Bank Home Loan amount by these steps

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    Ambank Bank Home Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant,
    and her income will add
    to your eligibility

    Ambank Bank Home Loan Maximum Tenure

    Choose longer tenure loan up to 30 years

    Ambank Bank Home Loan Add parents as Co-applicant

    Alternatively add your parents


    Documentation needed to apply for an AM Bank Home Loan

    • 1. NRIC photocopy.
    • 2. NRIC photocopy.
    • 3. EA form/ EPF statement (last 2 years).
    • 4. Sales & Purchase Agreement/ Booking receipt from developer.
    • 5. Documentation for self-employed applicants:
      • Business registration A&D
      • Last 3 months bank statement

    AmBank Home Loan Interest RatesUpdated on 05 Dec 2016

    AmBank Home Loan Details
    Margin of Finance Up to 95%
    Tenor 30 years
    Guarantor Requirement No Guarantee Required

    Ambank Home Loan Malaysia

    AmBank Home loan is an excellent way to make flexible loan payments and to deposit or withdraw money from the loan account since it comes clubbed with an overdraft account. This loan will make your payments easier and will give you the power to control the interest rate and loan tenure. Also, a person of any nationality but who wishes to own a residence in Malaysia can opt for this loan. However, the main advantages include:

    • There is an option to make extra repayments to reduce loan interest.
    • Flexibility is given in managing the amount and frequency of loan repayments.
    • Excess payments can be withdrawn in cases of emergency.
    • A combination of term loan and overdraft is available.

    Features of Ambank Home Loan

    The main features of Ambank Home loans include:

    • You get the advantage of a flexible loan tenure of upto 35 years.
    • The rate of interest on this home loan is floating and depends on several factors such annual income, credit history etc.
    • A fee of RM 200 is charged by the bank for processing this loan.
    • People who are between the age of 18 to 70 years of age, with a minimum income of RM 24,000, regardless of their nationality can apply for this loan.
    • Margin of Finance -- A loan of up to 95% of the value of property can be availed.
    • There is an optional insurance plan called MRTA available
    • There is a compulsory fire insurance included.
    • The Interest rate is floating and as such might vary with market trends which might result in higher EMI.
    • Monthly installments can be a maximum of 40% of the monthly income.

    Ambank Home Loan Interest Rates

    The interest rates computed for the calculation of home loan EMI are floating and rates are reduced based on early timely loan payments. The term of the loan can up to 30 years for repayment and 95% margin can be used for the home loan.

    Types of Ambank Housing Loans

    There are a variety of home and property loans available from Ambank. Here they are with their salient features:

    1. Home Link: You can link your home loan to your current account to be able to save more on the interest rate. The more funds you are able to keep in your current account, the more you have chances on saving interests. It functions with an integrated account which is easy to monitor through a monthly consolidated statement. The funds are still accessible anytime through ATM or a cheque book whenever you require it.
    2. Property Loan: This is a simple and basic loan for availing loans for commercial properties with some added flexibility such as:
      • There is an option to redraw.
      • Margin of financing is provided for up to 85% (with MRTA).
      • Flexibility to accept additional repayment in excess of the monthly fixed instalments to reduce principal outstanding.
      • Daily rest interest calculation based on the reducing principal outstanding on daily basis.
      • It is also offered to non-individuals for financing of residential property purchases.
    3. Property Link: Enhanced commercial loan with linkages to a Current Account, where you can utilize the credit balance to off-set your home loan principal to enjoy greater interest savings.
      • The package comes with a PropertyLink current account which is linked to home loan account.
      • Available fund in the PropertyLink current account may be used to offset housing loan principal balance for daily interest computation.
      • Margin of financing is provided for up to 85% (with MRTA).
      • The funds are still accessible anytime through ATM or a cheque book whenever you require it.
    4. Home-i: Based on the Shariah contract of Musharakah Mutanaqisah (MM) and Bai’ Bithaman Ajil (BBA), this home loan offers a fixed or variable rate home financing solutions. Some of its salient features include:
      • Profit calculation is based on fixed or variable rates, or combination of both.
      • The loan amount is protected throughout the financing period with capping rate (for BBA contract only)
      • Margin of financing up to 95% (this is inclusive of Mortgage Reducing Term Takaful (MRTT))
    5. HomeLink-i: This is an extensive loan for existing HomeLink/ PropertyLink Financing-i account holders.
      • This is perfect for homebuyers with extra cash
      • This is a type of Home financing linked to HomeLink Investment Account-i

    How to Apply For Ambank Home Loan

    You can apply for the home loan online but you have to keep in mind the following eligibility criterias and documentation before you apply for the loan. Loan application can also be done in the bank branch nearest to you:

    Eligibility

    • 18 -70 years of age,
    • Minimum income of RM 24,000,
    • May have any nationality.

    Documentation

    Following are some of the documents that you might be required to submit while applying for this Ambank Home Loan -

    • Latest EPF Statements
    • Proofs of Income Tax Return
    • Last 6 months’ Bank Statements
    • Salary Slips
    • Employment Proof
    • Property Purchase Agreement
    • Other documents that the bank might deem necessary

    How to Calculate Loan Installment for AmBank Home Loan?

    A simple and convenient AmBank home loan installment calculator is hosted on bankbazaar.my. This home loan installment calculator requires users to feed-in certain loan-specific parameters like desired home loan amount, loan tenure and profit rate and processes this raw data to yield the amount of monthly installment applicable for your home loan. Knowing the installment amount before availing home loan is beneficial since it helps in better financial planning. By adjusting parameters like loan amount and loan tenure in the home loan installment calculator, you can find out the most optimum value of monthly installment which suits your pocket, perfectly.

    FAQS on Ambank home Loans

    1. How to Calculate Loan Installment for AmBank Home Loan?

      A simple and convenient AmBank home loan installment calculator is hosted on bankbazaar.my. This home loan installment calculator requires users to feed-in certain loan-specific parameters like desired home loan amount, loan tenure and profit rate and processes this raw data to yield the amount of monthly installment applicable for your home loan. Knowing the installment amount before availing home loan is beneficial since it helps in better financial planning. By adjusting parameters like loan amount and loan tenure in the home loan installment calculator, you can find out the most optimum value of monthly installment which suits your pocket, perfectly.

    2. What is the maximum tenure?

      The maximum tenure for the loan repayment is 30 years.

    3. What is the minimum age for the Ambank loan application?

      The minimum loan application age is 18 years.

    4. How much is the processing fee?

      A fee of RM 200 is charged by the bank for processing this loan.

    Other Products offered by AmBank:

    Apart from offering Home Loan,AmBank offers other products and services which include:

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