Affin Home Flexi Plus is a combination of term loan, an overdraft facility, and a full overdraft for financing your residential property. You can get a new or sub-sale financing on the property or you can refinance your existing loan under the scheme. Read on to know the details of the loan scheme.
|Finance Margin||Up to 90% for term loan + overdraft; Up to 50% for full overdraft.|
|Interest Rate||Term Loan—BR + 0.76%. Overdraft—BR + 1.76% p.a.|
|Loan Amount||A minimum of RM100,000 with a minimum of 50% for overdraft facility.|
|Loan Tenure||35 years or up to 70 years of age.|
Note: BR stands for Base Rate. BR is set to 4.10% p.a. as updated on 30 January 2018.
|Stamp Duty Fee||As per the Stamp Duty Act 1949 (Revised in 1989).|
|Redemption Statement||RM50 per request.|
|Processing Fee||Loan amount within RM30,000: RM50. Loan amount between RM30,000 and RM100,000: RM100. Loan amount above RM100,000: RM200.|
|Letter of Confirmation for EPF Withdrawal||RM20.|
|Security Document Retrieval||RM30 per request.|
|Early Settlement Penalty||2% of the approved loan amount if settled completely within the lock-in period.|
|Late Payment Fee||1% p.a. of the arrear amount.|
|Nationality||Malaysians and non-Malaysians.|
|Age Requirement||18 years and above.|
|Property Value||Above RM200,000.|
|Other Income Documents, if applicable||
|Offline Method 1||
|Offline Method 2||
Get the benefits of a term loan and an overdraft facility in a single home loan scheme i.e. Home Flexi Plus. Since the loan includes a variable interest rate, you may expect variations in rates often. Read through the fine print of the loan agreement to be sure of how the loan works.
Q. Does the interest rate change if I default my payments for 3 months?
A. Yes. The bank reserves the right to change the prescribed interest rate to BR + 4.35% p.a. if you default your payments for 3 months.
Q. When does the instalment payment begin?
A. If your property is under construction, you have to pay the interest during the construction period. Generally, the instalment payment begins after a month from the date of full drawdown.
Q. Does the approved loan amount include financing for MRTA premium?
A. Yes. If you chose to buy MRTA, the loan amount approved will include financing for MRTA premium, legal & documentation cost, valuation fee, and stamping fee.
Q. How often is the interest calculated?
A. The interest is calculated on a daily basis.
Q. Does the loan scheme have a retention period?
A. Yes. The retention period of the scheme is set to 3 years from the date of the first disbursement.