AmBank is a leading bank in Malaysia that provides an extensive range of banking solutions. The bank specialises in offering excellent products and services including deposits, cards, loans, insurance, wealth management solutions, priority banking, small business banking, etc.
AmBank offers an assortment of loans for different purposes. The loans offered by the bank include ASB financing, personal loans, car loans, home loans, etc.
If you have been planning to buy your own house, you should definitely go for a home loan provided by AmBank. The loan will allow you to make repayments comfortably without much stress.
At least 18 years old
Less than 65 years old
Salaried / Self-employed
with regular income
Earn more than the minimum
Installment limited to about 50%
of monthly income
Loan capped @ Up to 90% + 5% MRTT
Installments of other loans lower
Make your spouse a co-applicant,
and her income will add
to your eligibility
Choose longer tenure loan up to 30 years
Alternatively add your parents
|Margin of Finance||Up to 95%|
|Guarantor Requirement||No Guarantee Required|
Let us take a look at the key features and benefits of this loan:
Let us now take a look at types of home loans offered by AmBank:
The interest rates for the home loan schemes offered by AmBank depend on the prevailing Base Rate (BR). The BR is depends on the benchmark cost of funds (COF) of AmBank and the statutory reserve requirement (SRR) cost which is fixed by Bank Negara Malaysia (BNM).
The prevailing Base Lending Rate or Base Financing Rate is 6.65% p.a.
The prevailing Base Rate is 3.80% p.a.
These are the fees and charges for all the AmBank home loans:
|Late payment fee||1% p.a. of the unsettled amount|
|Stamp duty||According to the Stamp Act 1949 (Revised 1989)|
|Early termination fee||2% of principal loan amount|
|Modification of loan product||RM530|
|Transfer of property’s share (Administrative fee)||RM530|
|Monthly fee||RM10.60 (Includes GST)|
|Minimum account opening fee||RM100|
|Processing fee||RM212 (Includes GST)|
|EPF RF fee||RM53|
|Monthly fee||RM21.20 (Includes GST)|
|Minimum account opening fee||RM200|
Let us take a look at the eligibility criteria required to apply for a home loan from AmBank:
You can apply for a home loan from AmBank by submitting an online form with your details. You will have to give your name, contact number, email ID, and IC No. or Passport No. After your form is reviewed, a reliable representative will call you from the bank to give you support. You may also visit an AmBank branch to complete the application process.
You can make your monthly installment payments through online payments through fund transfers or deduction of funds from bank account. You can register on AmBank’s e-Banking services to choose from multiple payment modes.
These are the documents that you will have to submit:
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.
AmBank My First Home Scheme is a financing option that was introduced by the government to support people who earn a particular income range to own their first homes. You will have to pledge this house as a collateral.
Yes. These fees include registration fees and other charges.
The lock-in period for these 2 loan products is 3 years.
When you have higher amounts in your AmBank current account, you will earn higher savings.
With this product, you can go for Without Employees Provident Fund (EPF) Ring Fencing (RF) or With EPF RF is subject to EPF approval.
Yes, the first 10% of your loan will be guaranteed by CAGAMAS SRP BERHAD (National Mortgage Corporation).
Yes, you will have to pay a Professional Legal Fee. It is the fee given to the solicitor as he or she will create the financing agreement.
Apart from offering Home Loan,AmBank offers other products and services which include: