• Home Loan BYTES FROM OUR KITCHEN

    AmBank Home Link

    AmBank offers many conventional as well as Islamic home loan/financing schemes to its customers in Malaysia. Home Link is a schemes that lets you manage your funds proficiently. It also comes with various other features that’s designed to better your home-buying experience.

    Let’s find out more details about the scheme.

    Margin of Financing Up to 95% (including MRTA)
    Financing Tenure NA
    Rental Rate Competitive rates (capped to the base rate)
    Type of Properties Covered Residential properties
    Type of Loan Flexi
    Base Rate 4.10% p.a.

    Features and Benefits

    • This home loan scheme is offered on variable loan basis.
    • You need to keep your house as a security while obtaining the loan.
    • As the home loan scheme is linked to your current account, more funds in your current account can save you on your interest.
    • As your home loan account and current account is integrated, you will receive one single consolidated monthly statement that help you monitor your funds easily.
    • Whenever needed, you can withdraw instant cash on your excess payments via ATMs or through cheques.
    • You can choose to have this as a packaged facility along with your Visa, Mastercard, or CARz credit cards.
    • No processing fee is charged.

    Fees and Charges

    Stamp Duty Charges As per the Stamp Act 1949 (revised in 1989)
    Disbursement Charges Includes registration charges and other applicable fees
    Professional Legal Fee As per the bank’s discretion (includes charges for preparing the financial agreement)
    Valuation Fee Includes valuer charges for preparing a proper valuation report
    Maintenance Charges
    • Monthly charges = RM10
    • Minimum account opening = RM100
    Late Payment Charges 1% p.a. on the unsettled amount

     

    Documents Required

    For a Salaried Applicant
    • A copy of MyKad or NRIC (both sides)
    • Latest salary slips (for 3 to 6 months)
    • Latest EPF statement
    • Latest bank statements reflecting credited salary (for 3 to 6 months)
    • Any other document as per the bank’s requirement
    For a Self-Employed Applicant
    • A copy of MyKad or NRIC (both sides)
    • Latest bank statements (for 6 months)
    • Latest company bank statements (for 6 months)
    • Form A and D
    • Company registration certificate
    • Any other document as per the bank’s requirement

    How to Apply

    Online Application
    • Visit the official website of AmBank Malaysia.
    • Click on the ‘Apply Now’ tab.
    • Select you’re the home loan scheme.
    • Fill in all required information. This includes your contact details and personal information.
    • Submit the online form.
    Offline Application
    • Visit any nearest branch of AmBank.
    • Collect an application form for the Home Link facility.
    • Fill in all required information.
    • Attack a set of necessary documents.
    • Submit the form to the bank representatives.

    As the Home Link facility allows you to link your current account to your home loan account, you can monitor and manage your finances in a better way. The plan also offers you to make excessive payments and withdraw them whenever needed simply via ATMs or cheques. Chain up your home loan plan with your AmBank credit card for better financial management.

    FAQs

    Q. Can any change in the base rate affect my applicable rate of interest?

    A. As the base rate (BR) is associated with the overnight policy rate (OPR), any fluctuations in the BR can affect your interest rate.

    Q. What is the lock-in period for the Home Link facility?

    A. A lock-in period of 3 years from the beginning of your first disbursement is applicable for this loan facility.

    Q. Can I terminate my home loan scheme before its maturity date?

    A. Yes, but you will have to pay the early termination fee of 2% on your original loan amount.

    Q. Do I have to take the insurance plan only from the bank?

    A. The bank has its own panel of insurers and it may provide you with the quotations of any compulsory insurance cover. However, you are free to take the insurance policy from any other valid insurers.

    Q. Where can I get more information about the plan?

    A. You can speak to the bank’s representatives on 03 2178 8888 for any further information about the product.  

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