A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • AmBank My First Home Scheme

    AmBank My First Home Scheme is a home loan scheme tailor-made for the first time house buyers provided by AmBank. The loan facility comes a high range of financing and flexible repayment tenure range.

    Features & Benefits

    Let’s take a look at the features and benefits associated with AmBank My First Home Scheme:

    • Customers can get up to 100% margin of financing with this loan facility.
    • The repayment tenures with this loan scheme can be extended to 35 years.
    • The funds obtainable with this loan scheme come at a competitive interest rate.
    • The loan scheme comes with MRTA (Mortgage Reducing Term Assurance) and fire insurance.

    Interest/Profit Rates

    Tenure of the Loan Estimated Effective Interest Rate
    Up to 35 years (BR + 0.65)% p.a.

    Base Rate is 4.10% p.a. effective 3 February 2018.

    Eligibility Criteria

    • The facility is open to Malaysian citizens that are looking to buy their first house.
    • The minimum age requirement for the facility is 18 years.

    Documents Required

    • One copy of NRIC (both sides).
    • Copies of salary slips for the 3 recent months.
    • EA form or EPF statement.

    How To Apply

    • Offline Application: The AmBank My First Home Scheme application can be made at the nearest AmBank branch. One can also put in his/her request for the same telephonically via bank’s customer service numbers.
    • Online Application: The AmBank My First Home Scheme application can also be approached through the AmBank’s official web portal.

    Fees & Charges

    Late payment charges 1% p.a. on the amount in arrears.
    Early termination fee 2% of the total approved loan amount.
    Stamp Duty As per the Stamp Duty Act 1949.

    Contact Number

    For further information regarding AmBank My First Home Scheme, applicants can call the bank’s customer service number: 03-2178 8888.

    FAQ's

    Q. Is it possible to settle the outstanding amount of AmBank My First Home Scheme before its maturity?

    A. Yes, you can opt to fully settle the outstanding amount of AmBank My First Home Scheme before the facility expires.

    Q. Do I require to take any insurance with my AmBank My First Home Scheme?

    A. You are advised to take the MRTA and fire insurance along with your AmBank My First Home Scheme.

    Q. What is the lock-in period available with the early settlement of the loan amount?

    A. The lock-in period with early settlement is 3 years from the first disbursement.

    Q. What are the other charges I have to bear with AmBank My First Home Scheme?

    A. Varying from application to application, you may be charged with legal fee, disbursement fee, and valuation fee.

    Q. How are the monthly instalment for the repayment of AmBank My First Home Scheme calculated?

    A. The monthly instalment can be calculated on basis of the approved loan amount, loan tenure, and the interest rate associated with the facility.

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