AIA Fixed Rate Home Loan is the only home financing solution provided by AIA Insurance. This facility is a fixed-rate financing solution, which is ideal if you are buying a new property or if you are refinancing an existing property.
|Margin of Financing||
|Type of Financing||Fixed rate.|
|Loan Tenure||Up to 35 years or 70 years of age, whichever is earlier.|
|Interest Rate||Base rate + spread.|
|Minimum Loan Amount||RM100,000.|
|Minimum Market Value||RM200,000.|
|Letter of Confirmation for EPF Withdrawal||RM20 per request.|
|Photocopies of Legal Documents||RM10 per document.|
|Stamp Duty||As per the Stamp Duty Act 1949 (revised 1989).|
|Late Payment Charges||1% on the total outstanding arrears.|
|Age Requirement||18 years to 70 years.|
How to Apply
AIA Fixed Rate Home Loan is ideal if you are buying a new home or if you want to switch from another financial institution's home loan. It is advisable to go through the scheme’s product disclosure sheet before applying for it.
Q. Does this loan scheme come with a lock-in period?
A. Yes. The lock-in period of this loan is 5 years from the date of the first drawdown.
Q. Do I need to take any insurance coverage with this scheme?
A. Yes. You need to take the following insurance policies compulsorily with this loan scheme.
Q. How much will I be charged if I settle my loan early?
A. If you settle the loan within the lock-in period, you will be charged a prepayment fee of 0.62% p.a. of the full prepaid amount and an additional 0.40% of the total prepaid amount as an administrative fee. You will also be charged any other fees imposed by AIA Insurance.
Q. Do I need to provide extra documents for a non-landed property?
A. Yes. You will have to forward a certified copy of the master policy with AIA Bhd endorsed as a mortgagee to the company annually.
Q. What does the disbursement charges include?
A. The disbursement charges include fees for registration of charge, land search, and bankruptcy search.