AmBank Islamic Home and Property Financing-i plan offers you a high margin of financing for residential properties. The scheme comes with a flexible range of tenures you can choose.
Here are the details of this financing package:
|Margin of Financing||95% of the property’s valuation with Home Financing-i|
|85% of the property’s valuation with Property Financing-i|
|Tenure||Home Financing-i: 35 years|
|Property Financing-i: 25 years|
|Profit Rate||Variable rate pegged to a base rate of 4.10% p.a.|
|Disclaimer Letter||For the first document: RM20|
|Subsequent documents: RM10|
|Confirmation Letter for EPF Withdrawal||RM20 per request|
|Audit Confirmation||RM20 per request|
|Additional Statement Request||Waived|
|Re-execution Fee||RM100 per account|
|Late Payment Charges (before the term’s maturity)||1% of the total amount of overdue instalment|
|Late Payment Charges (after the term’s maturity)||3.20% of the total outstanding balance|
|Age Requirement||18 years or more at the time of application|
|For a Salaried Applicant||
|For a Self-Employed Applicant||
AmBank Islamic Home and Property Financing-i scheme offers you financing at competitive profit rates. The plan comes with no processing and disbursement fees. You can choose from a flexible range of repayment tenures with this scheme according to your repayment affordability.
Q. What is the maximum tenure I can get with this scheme?
A. The maximum tenure depends upon your age at the application date. The maximum allowed age at the time of facility’s maturity is 70 years. The maximum tenure you can get with Home Financing-i is 35 years and with Property Financing-i is 25 years.
Q. How do I calculate the monthly instalment I have to pay with this facility?
A. You can calculate the monthly instalment amount by visiting AmBank’s official website and clicking on ‘Home Financing-i Calculator’. You need to put in the details like amount opted for, the tenure chosen, and your monthly income to get the details of your monthly instalment amount.
Q. Is it compulsory to take MRTT or Fire Takaful with this facility?
A. It is highly recommended to take both MRTT and Fire Takaful with this facility. However it is not mandatory to take MRTT. But Fire Takaful is compulsory to take with this package.
Q. Is it allowed for me to fully settle the outstanding financing amount before the facility reaches its maturity?
A. Yes, you can opt to entirely settle the outstanding amount before the facility reaches its maturity.
Q. Is there a benefit related to early settlement of the outstanding financing amount?
A. Yes, you can get a rebate (Ibra’) on the unutilised financing tenure if you opt for an early settlement.