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

    AmBank Islamic Personal Loans

    The personal financing packages from AmBank Islamic offer borrowers a Shariah-compliant alternative to conventional personal loans and allow them to utilise the loan amount for personal use.

    AmBank Islamic Personal Loan Malaysia

    Compare Personal Loans by AmBank Islamic

    The personal financing packages from AmBank Islamic are as follows:

    • Personal Financing-i:

      This package from AmBank Islamic provides personal loan for cash consumption. The loan is open to public sector as well as private sector employees. The facility offers flexible repayment tenures, which allows you to choose a tenure as per your preference

    • AmMoneyLine Facility-i:

      This loan lets you use the borrowed amount in any way deemed fit by you. You can get financing of up to RM100,000 and have flexible repayment tenures up to 5 years. The profit rates are offered on a flat rate basis, and the loan is free from additional charges, such as processing fees, making the loan affordable.

    Profit Rates

    Profit rates for AmBank Islamic Personal Financing-i for Public Sector:

    Profit rates start as low as 4.30% p.a.

    Profit rates for AmBank Islamic Personal Financing-i for Private Sector:

    Profit rates start as low as 6.90% p.a.

    Profit rates for AmMoneyLine Facility-i:

    Flat profit rate Effective Profit rate
    EPR for 12 months EPR for 24 months EPR for 36 months EPR for 48 months EPR for 60 months
    8% p.a. 14.45% p.a. 14.68% p.a. 14.55% p.a. 14.35% p.a. 14.13% p.a.
    8.5% p.a. 15.34% p.a. 15.55% p.a. 15.40% p.a. 15.17% p.a. 14.92% p.a.
    9.99% p.a. 17.95% p.a. 18.14% p.a. 17.90% p.a. 17.58% p.a. 17.26% p.a.
    11.99% p.a. 21.44% p.a. 21.55% p.a. 21.18% p.a. 20.74% p.a. 20.30% p.a.

    Features and benefits

    • The loans are unsecured and do not require a guarantor or any form of collateral
    • The loans offer quick approval and disbursal times making it an ideal choice for those in need of additional finances in a hurry.
    • The financing facility comes with flexible tenures ranging from 1 to 5 years.
    • There are no processing fees or early settlement fees associated with the facilities.
    • You can get a loan ranging from a minimum of RM2,000 to a maximum of RM100,000.

    Fees and Charges:

    Fee Type Amount
    Processing fees No charge
    Early settlement fees No charge
    Stamp duty fees As per Stamp Duty Act 1949
    Late payment fees 1% p.a. on overdue amount charged on daily basis

    Eligibility Criteria

    • Nationality: The loan is available to Malaysian citizens and Permanent Residents working and residing in Malaysia.
    • Age: You must meet the minimum age requirement of 21 years to apply for the loan.
    • Income: You must earn a minimum monthly income of RM3,000 to qualify for the loan.

    What documents do I need to have?

    Salaried applicants:

    • Copy of the applicant’s MyKad (front and back)
    • Copy of latest one month salary slip for fixed earners and 3 months’ salary slip for variable salary earners
    • Copy of the most recent EPF statement with 6 months contribution
    • Copy of the most recent EA Form
    • Copy of the most recent BE Form with tax payment receipts

    Self-employed applicants:

    • Copy of the applicant’s MyKad (front and back)
    • Copy of the Business registration certificate or Form 9, 24, and 49
    • Copy of the most recent BE Form with tax payment receipts

    How to apply?

    You can apply for the loan by clicking on the ‘Apply Now’ option on the bank's website. You will have to fill out an online form and submit it along with the required supporting documents. Alternatively, You can also visit the closest AmBank branch and apply for the loan.

    For any personal loan related queries, you could contact AmBank Islamic Personal Loan Customer Care Support.


    FAQs

    Q. Is takaful cover compulsory for the loan?

    A. Yes. Takaful cover is compulsory for the loan.

    Q. What is the maximum age limit for a borrower to qualify for the loan?

    A. The borrower must not exceed the maximum age of 60 by the end of the loan tenure. If a borrower is aged 58, then he/she cannot chose a tenure of more than 2 years.

    Q. Will the borrower be given a rebate for timely payments?

    A. Yes. When borrowers make the monthly instalment payments on or before the due date for 12 consecutive months, they will receive a 5% rebate on the yearly profit paid which is credited to the borrower on the 13th month.

    Q. How is the monthly instalment calculated?

    A. The instalments are calculated using the following formula:

    M = [L + (L x R x T1)]/T2 where M is the monthly instalment, L is the financing amount, R is the profit rate, T1 is the tenure in years, and T2 is the tenure in months.

    Q. Is there a lock-in period on the loan?

    A. No. there is no lock-in period on the loan. However, borrowers who wish to settle the loan early must inform AmBank Islamic in writing at least 1 month prior to the intended date of settlement.

    Q. How long would the approval and disbursal process take?

    A. The loan approval and disbursal process can take an average of 48 hours or two business days.

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