• AmIslamic Home Loan

    AmIslamic Home Loan

    AmIslamic Bank offers two home financing packages at attractive rates to help its customers buy their own houses and residential properties. The bank has taken care of all classes of borrowers and provides fixed as well as flexible home loans. For anyone looking to buy a house with the convenient method of deferred payment and maximum finance margin, AmIslamic home loans are the right choice.


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

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    AmIslamic Bank Home Loan Minimum Age

    At least 21 years old

    AmIslamic Bank Home Loan Maximum Age

    Less than 65 years old

    AmIslamic Bank Home Loan Eligible Employment Type

    Salaried / Self-employed
    with regular income

    AmIslamic Bank Home Loan Minimum Income

    Earn more than the minimum
    income required


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

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    AmIslamic Bank Home Loan Minimum Salary

    Instalment limited to about 50%
    of monthly income

    AmIslamic Bank Home Loan Maximum Loan to property value

    Loan capped @ Up to 95%

    AmIslamic Bank Home Loan EMI

    Instalments of other loans lower
    your eligibility


    Increase your eligible AmIslamic Bank Home Loan amount by these steps

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    AmIslamic Bank Home Loan Add Spouse as Co-applicant

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

    AmIslamic Bank Home Loan Maximum Tenure

    Choose longer tenure loan up to 30 years

    AmIslamic Bank Home Loan Add parents as Co-applicant

    Alternatively add your parents


    Documentation needed to apply for an AM Islamic Bank Home Loan

    • 1. NRIC / Identity Card.
    • 2. Copy of Sales and Purchase or Booking Receipt or Letter of Offer from Developer.
    • 3. Copy of Individual Title Deed.
    • 4. Property Valuation Report (for completed properties).
    • 5. Latest 3 consecutive months of salary slips / vouchers.
    • 6. Latest EPF statements (with 3 consecutive months or more transaction history).
    • 7. Latest 6 months Bank Statement.

    AmIslamic Bank Home Loan Interest RatesUpdated on 07 Dec 2016

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

    AmIslamic Bank offers two home financing packages at attractive rates to help its customers buy their own houses and residential properties. The bank has taken care of all classes of borrowers and provides fixed as well as flexible home loans. For anyone looking to buy a house with the convenient method of deferred payment and maximum finance margin, AmIslamic home loans are the right choice.

    AmIslamic Housing Loan Malaysia

    In Malaysia, AmIslamic Bank offers home loans based on the Shariah laws of Islam. AmIslamic Bank applies 2 basic Shariah concepts in offering their consumers with their preferred choice of housing finance packages. The Shariah concepts applied by them include Bai' Bithaman Ajil (BBA) and Musharakah Mutanaqisah (MM). Home Financing-i is offered at a fixed rate home financing. The installment is fixed. Hence, this allows borrowers to plan their finances in advance. It is also full-proof of the effects of rate fluctuations throughout the financing and repayment tenure.

    Benefits of AmIslamic Home Loan

    The main benefits of the housing loans, beside being an Islamic home loan include:

    1. You enjoy fixed financing rate and payment schedule facing no effects of rate changes.
    2. You also are allowed to pay lower rates of interest for the first year of your repayment tenure.
    3. Legal Fees and Stamp Duties are waived off for completed and refinancing units.
    4. No Processing Fees are charges on the loan.
    5. However the above benefits are acquirable based on certain terms and conditions.

    Features of AmIslamic Home Loan

    The key features for AmIslamic Bank housing loan includes:

    1. The loan is based on Syariah concept of Bai Bithaman Ajil which allows deferred payment sale.
    2. The loan permits a high margin financing of up to 90%.
    3. The repayment period is long and convenient and can extend up to 30 years or age 65, whichever comes earlier.
    4. The financing options are tailored to the financing needs of a home for a Malaysian citizen.
    5. There is also an option to finance Takaful Mortgage Plan (MRTA) for the customer's own protection.
    6. there are also easy payment options available through Online Banking or 24-hour e-Banking Centres all over Malaysia.

    Types of Housing Loans Offered by AmIslamic Bank

    Currently, AmIslamic bank grants two kinds of home loans to cater to the needs of various customers according to their requirements and financial viability.

    AmIslamic Fixed Home Financing-I: It is based on the Shariah concept of deferred payment sale. This home-funding option is for those who want to pay a fixed installment every month to repay the loan. With preset fixed rates, Home Financing-I lets borrowers enjoy stable rates without worrying about fluctuations in the market rate. It is ideal for those who earn a fixed income every month and can plan their personal financial budget in advance.

    AmIslamic bank offers lower rates of interest in the first year of borrowing. Customers who are taking the loan to buy completed units or refinancing existing loans can enjoy a waiver of stamp duty and legal fees. Non-individuals like sole-proprietors, partnership firms and companies can also apply for this house financing plan.

    The margin of financing available is up to 90% for loan tenures up to 30 years or when the borrower reaches the age of 65; whichever is earlier. Customers can also apply for the Takaful Mortgage Plan (MRTT) to protect themselves against the risk of permanent disability and death.

    AmIslamic Flexi Home Financing-I: This house financing plan offers Sharia- based rates of profit as per the current market rates. Based on Islamic banking concepts of deferred payments, this flexible home funding option of AmIslamic bank allows customers to enjoy lower rates of interest than the other home loans. The margin of financing on these loans is as high as 95%. Also, the customer is free to repay the loan over tenures up to 30 years or till the age of 65 years (borrower’s age); whichever is earlier.

    Profit rates are calculated on a monthly basis according to rates prevailing in the market. The customers of AmIslamic flexi home loan can also enjoy a waiver of processing fees, subject to terms and conditions.

    How To Apply for AmIslamic Home Finance

    You are required to fulfill the following, to be able have your housing loan sanctioned:

    1. You should atleast be 18 years old & above.
    2. You should have a minimum Monthly income of at least 3 times the monthly instalment amount.
    3. You should be either of the following. (You also need to have the required documentation proof for it.
      • Malaysian citizen
      • Permanent Resident
      • Worker with work permit in Malaysia.
    4. Documentation for Application for the AmIslamic Bank Housing Loan include:
      • NRIC / Identity Card.
      • Copy of Sales and Purchase or Booking Receipt or Letter of Offer from Developer.
      • Copy of Individual Title Deed.
      • Property Valuation Report (for completed properties).
      • Latest 3 consecutive months of salary slips / vouchers.
      • Latest EPF statements (with 3 consecutive months or more transaction history).
      • Latest 6 months Bank Statement.

    AmIslamic Bank Housing Loan Interest Rates

    For these loans on housing, the rate is fixed at 4.65% and the first year rates are generally lower. The tenure for the loan repayment may extend up to 30 years or when the borrower turns 65, whichever is experienced earlier. The financing option is available for Completed & under-construction properties and refinancing.

    How to Calculate Loan Installment for AmIslamic Home Loan?

    Calculating the installment for your AmIslamic home loan is a very simple and easy process. This can be achieved within seconds by using the online AmIslamic home loan installment calculator hosted at bbazaar.my. This online calculator takes in raw data in the form of desired home loan amount, preferred loan tenure and the corresponding profit rate to yield the monthly home loan installment that customers need to shell out from their pocket. Using this calculator you can plan your finances even before availing your home loan. This calculator can also be used to adjust the input parameters to reach that value of monthly installment which is most affordable to any customer.

    FAQs on AmIslamic Bank Housing Loan

    What are the documents required to apply for the AmIslamic home loans?

    Applicants are required to submit an application form along with identity proof/NRIC, copy of salary slips of last 3 months, bank statements of last 6 months, EA statement, Business Registration Certificate, etc. Documents many vary as per the profile and nature of the applicants’ jobs.

    Which islamic laws of banking are these housing loans from AmIslamic Bank based on?

    The Shariah concepts applied are Bai' Bithaman Ajil (BBA) and Musharakah Mutanaqisah (MM).

    What are the methods available to repay the loan?

    AmIslamic has made banking easier than ever in Malaysia. Borrowers can choose from any of the repayment options offered such as online banking, standing instructions, cash deposits or cheque deposits at the nearest AmIslamic Bank branch.

    Does this Loan levy any legal fees or stamp duties?

    No, all the stamp duties and legal fees are waived for this loan.

    How to Calculate Loan Installment for AmIslamic Home Loan?

    Calculating the installment for your AmIslamic home loan is a very simple and easy process. This can be achieved within seconds by using the online AmIslamic home loan installment calculator hosted at bbazaar.my. This online calculator takes in raw data in the form of desired home loan amount, preferred loan tenure and the corresponding profit rate to yield the monthly home loan installment that customers need to shell out from their pocket. Using this calculator you can plan your finances even before availing your home loan. This calculator can also be used to adjust the input parameters to reach that value of monthly installment which is most affordable to any customer.

    Other Products offered by AmIslamic:

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

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