Affin Home Solutions Plus is a home loan facility that helps you purchase a new or sub-sale residential property. You can make excess payments above your monthly instalment and redraw the excess payment if you need. The article gives you more details about the loan scheme.
|Lock-in Period||3 years.|
|Margin of Finance||Up to 95% (includes mortgage reducing term assurance).|
|Interest Rate||Up to BR + 0.81%.|
|Loan Tenure||35 years or up to an age of 70 years, whichever is earlier.|
Note: BR stands for Base Rate. BR is set to 4.10% p.a. as updated by the bank on 30 January 2018.
|Stamp Duty Fee||As per the Stamp Duty Act 1949 (Revised in 1989).|
|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.|
|Redemption Statement||RM50 per request.|
|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||
The Affin Home Solutions Plus scheme gives you the flexibility of making additional payments and withdrawing it if you need some emergency cash. You can strengthen your home loan with an MRTA coverage to handle the outstanding balance in case of any unfortunate events. It is recommended to do your research about the product and then apply for the loan.
Q. What should I do if I am unable to make my monthly payments?
A. If you are unable to make payments due to some financial issues, you can contact the bank and request for an alternate payment schedule that works out for you.
Q. What happens if my loan is labelled as a non-performing loan?
A. If your loan is labelled as a non-performing loan, then the bank may update the interest rate to BR + 6.35% p.a.
Q. Should I pay any fee to redraw the money?
A. Yes. You have to pay a redraw fee of RM25 per transaction.
Q. Is it mandatory to buy MRTA?
A. Though it is not mandatory, the bank highly encourages you to buy MRTA. It provides coverage in case of death, critical illness, and permanent disability. The policy guarantees to pay off the outstanding balance of the loan in case of an unfortunate event.
Q. What is the minimum amount I can redraw?
A. You can redraw a minimum of RM3,000 and in multiples of RM1,000.