Home Loan BYTES FROM OUR KITCHEN

Alliance Conventional Home Financing

Alliance Conventional Home Financing is a home loan plan offered to finance completed residential properties and residential properties under construction. This financing solution offers up to 90% financing margin and comes with an optional redraw facility, which can be used to make repayments and withdraw funds when you require them.

Margin of Financing
  • Up to 90% + 5% Mortgage Reducing Term Assurance (MRTA) and/or financed entry cost.
  • Up to 70% for overdraft facilities.
Type of Financing Term loan.
Loan Tenure Up to 35 years or 70 years of age, whichever is earlier.
Interest Rate Variable rate pegged to Base Rate.

Features and Benefits

  • Enjoy finance margin up to 90% + 5% for MRTA.
  • Enjoy interest savings with the optional redraw facility which allows you to deposit and/or withdraw excess fund.
  • No monthly maintenance fees are charged.

Fees and Charges

Setup Fee RM200 for Conventional Home Financing with redrawal facility.
Redraw Fee RM50 per withdrawal.
Stamp Duty As per the Stamp Duty Act 1949 (Revised 1989).
Late Payment Charges 1% p.a. on the amount in arrears.
Early Settlement Fee 2% on the approved loan amount.
Commitment Fee for Overdraft Facilities 1% p.a. on the unutilised portion of the overdraft facility exceeding RM250,000.

Eligibility

Age Requirement 21 years and above.

How to Apply

Online Application
  • Visit Alliance Bank’s official website.
  • Under the ‘Financing’ tab, click on ‘Mortgage’.
  • Select Conventional Home Financing.
  • Click on the ‘Apply Now’ button.
  • Fill in the contact form with your personal information.
  • A bank representative will get back to you as soon as possible.
Branch Application
  • Go to Alliance Bank’s nearest branch.
  • A bank representative will assist you with the application process.
Telephonic Application
  • Call Alliance Bank at 03-5516 9988 or 1-300-80-3388.
  • A bank representative will assist you with the application process.

This loan is ideal for those who are looking for schemes that provide an optional redraw facility. You can apply for a high loan amount and also get up to 70% overdraft facility under this scheme. It is advisable to go through the scheme's product disclosure sheet before applying for it.

FAQs

Q. Will I be charged valuation fees for properties under construction?

A. No. Valuation fees are charged only for completed properties.

Q. What is the lock-in period for this scheme?

A. The lock-in period is 3 years from the first date of loan disbursement.

Q. Do I need to take any insurance coverage with this facility?

A. Yes. You must take fire insurance along with this scheme mandatorily. Though MRTA is optional, you are highly recommended to take it as well.

Q. How do I pay my monthly instalment?

A. You can use any of the following ways to pay your monthly instalment:

  • Using Interbank GIRO (IBG)/Instant Interbank Funds Transfer (IBFT) via ATM or internet banking.
  • Using your Alliance Current Account/Savings Account via Alliance Online Banking or Standing Instruction (SI).
  • At any Alliance Bank branch.

Q. Does the Base Rate differ from bank to bank?

A. The Base Rate differs from bank to bank.

Q. What are the effective lending rates?

A. The lending rates range from BR + 0.54% to BR + 1.60%.

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