AmBank offers affordable home loans to its customers with arrange of feasible repayments tenures. Along with the home loans, the bank also offers term loan and overdraft facilities so that a customer can enjoy financial security on his/her loans.
|Loan Type||Loan Tenure||Interest Rate|
|AmBank Home Loan||Up to 35 years||Capped as per Base Rate and bank’s discretion|
|AmBank HomeLink||Up to 35 years||Capped as per Base Rate and bank’s discretion|
|AmBank Home Loan||Fees and Charges|
|Stamp Duties||As per Stamp Duty Act 1949 (Revised in 1989)|
|Disbursement Fee||As per bank’s discretion (Inclusive or registration fee and other related charges)|
|Early termination Fee||2% on the original loan amount|
|Late Payment Fee||1% p.a. on the amount in arrears|
|Professional Legal Fee||As per bank’s discretion (inclusive of fees for preparation of financial agreement)|
|Valuation Fee||As per bank’s discretion (to make formal valuation report)|
|Nationality Criterion||Malaysian citizen|
The AmBank Home Loan application process is easy and can be conducted through the following ways:
Offline Application: A customer can go to the nearest branch and request for the application form. The duly filled application form must be submitted along with the required documents to finish the application process.
Online Application: A candidate can also apply through the official website of the bank. Candidates can click on the given tab and fill in their personal details and loan requirements in the online form. They can also submit the mandatory documents online with the application form. After finishing the process and submission of all the details, a customer will receive a phone call from a bank representative regarding the processing of their application.
In case a customer has any queries and doubts related to the home financing products offered by AmBank, he/she can contact the customer care representatives on the following hotline: 03-2178 8888. In addition, a customer can also write an email on [email protected]
Q. How is the progressive interest rate calculated?
A. Progressive interest must be paid before actual instalment commence for any property which is under construction. It is calculated using the following formula:
Progressive interest to be paid for the said month= Progressive amount disbursed by bank x [Current interest rate x No. days] / 365.
Q. What is the lock-in period for the AmBank Home Loan?
A. 3 years starting from the first disbursement.
Q. Can I redraw the extra repayments made by me?
A. Yes, you can always redraw your excessive repayments any time for any kind of emergency.
Q. Can the bank set-off payments from my accounts if I fail to make the monthly instalment?
A. The bank reserves the right to set-off your loan instalments from your current or salary account maintained with the bank against any financial loan amount.
Q. How does legal action against my impending payments affect me?
A. Any legal action against you will affect your credit ratings and resultantly, your credit will be more expensive and difficult to maintain.