Home Loan BYTES FROM OUR KITCHEN

Affin Home Assist Plus-i

The Affin Home Assist Plus-i works based on the Shariah concept of Musharakah Mutanaqisah or Diminishing Musharakah. It offers financing for the acquisition of residential property that may be completed or under construction. You can also get sub-sale financing and refinancing for completed properties under the scheme.

Maximum Loan Tenure 35 years or up to an age of 70 years.
Profit Rate BR + 0.96% p.a.
Margin of Finance Up to 90% + 5%.

Note: BR stands for Base Rate. BR is set to 4.10% p.a. as updated by the bank on 30 January 2018.

Features and Benefits

  • Get financing of up to 90% of the property value.
  • Get Mortgage Reducing Term Takaful (MRTT) of up to 5%.
  • Enjoy a loan repayment period of up to 35 years or up to 70 years of age.
  • Low rental rates of up to BR + 0.96% p.a.
  • Flexibility to make excess payments above the monthly instalment.
  • Redraw facility is available on the excess payments made.

Fees and Charges

Stamp Duty As per the Stamp Duty Act 1949 (Revised in 1989).
Redemption Statement RM50 per account per request.
Redraw Fee/Excess Payment Fee RM25 per transaction.
Security Document Retrieval Fee RM30 per request.
Additional Financing Statement RM10 per request.
Letter of Confirmation for EPF Withdrawal RM20.

Eligibility Requirements

Nationality Malaysians and non-Malaysians.
Age Criterion 18 years and above.
Property Value RM100,000-RM200,000.

Documents Required

Mandatory Documents
  • A copy of NRIC.
  • Sale & Purchase Agreement.
  • A copy of valuation report from the bank-approved panel of valuers.
  • Booking receipt from the developer if the property is under construction.
Salaried Applicants
  • Latest 3 months’ payslips.
  • Latest EPF statement.
  • Latest 3 months’ bank account statement to show salary being credited.
  • A letter from the employer to confirm your income.
Pensioners
  • Latest pension statement.
  • Latest 3 months’ bank account statement to show pension being credited.
Commission Earners
  • Latest 6 months’ commission statements.
  • A letter from the employer to confirm your income.
Self-employed Individual
  • Latest Borang B with the tax payment receipt.
  • Latest 6 months’ business account statement (Sole Proprietorship/Partnership).
  • Latest Profit & Loss account.
  • Latest 6 months’ personal account statement (Limited Company/Sedan Berhad).
Other Income Documents, if applicable
  • Rental income receipts or Tenancy Agreement.
  • Director’s fee as available on the audited Profit & Loss account.
  • Unencumbered time deposit certificates.
  • Other deposits/investments.
  • Sales vouchers.

How to Apply

Internet Banking
  • Log into your account on the internet banking platform.
  • Apply for the loan scheme online.
Offline Method
  • Visit the nearest branch of the bank.
  • Express your interest in applying for the loan.
  • Fill up the application form.
  • Attach the supporting documents.
  • Submit the documentation to the staff at the branch.

Conclusion

The AFFIN Home Assist Plus-i comes with a flexible payment structure to help you complete the loan repayments in a hassle-free manner. Since, there is no lock-in period, you don’t have to worry about early settlement penalty. Make sure to have all the required documents ready before applying for the facility.

FAQs

Q. When should I pay a valuation fee?

A. A valuation fee is charged only for a completed property and not applicable to properties under construction.

Q. How is the rental/profit rate calculated?

A. The rental/profit rate is calculated on daily rest.

Q. Does the loan have a lock-in period?

A. No. Lock-in period is not applicable under the scheme.

Q. What is a ceiling rate?

A. A ceiling rate is the maximum rental rate that can be applicable to your loan amount throughout the loan term. Irrespective of the variations in the base rate, the rental rate will not exceed the ceiling rate that is set at the time of the loan agreement.

Q. How is the processing fee calculated?

A. The bank does not charge a processing fee under the AFFIN Home Assist Plus-i loan scheme.

reTH65gcmBgCJ7k
This Page is BLOCKED as it is using Iframes.