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    OCBC Al-Amin Home Loan

    OCBC Al-Amin Home Loan or Manarat Home-i is a Shariah compliant house financing plan by OCBC. Based on the Ijarah Muntahiah bi Al-Tamik (IMBT) concept, the leasing ends with ownership through this house financing plan.

    Interest/Profit Rates

    The profit rates associated with the OCBC Al-Amin Home Loan are mentioned in the table below:

    Financing Tenure Base Financing Rate
    Up to 35 years 7.01% p.a.

    Fees & Charges

    The following are the fees and charges associated with the OCBC Al-Amin Home Loan:

    Financing Processing Fee No charge.
    Late payment charges (before the maturity of the facility) 1% p.a. of the overdue instalment amount.
    Late payment charges (after the maturity of the facility) IIMM% (Islamic Interbank Money Market) of the outstanding balance.
    Request for redemption statement by customers/lawyers on behalf of customers RM53.
    Request for redraw of loan facility RM10.60.
    Processing fee on financing statement request RM10.60.
    Processing fee on request of letters to EPF for withdrawals RM21.20.

    Eligibility Criteria

    Nationality Criterion Malaysian citizens
    Age Criteria Minimum age: 18 years Maximum age: 70 years
    Income Criteria As per the bank’s discretion

    Documents Required

    • A copy of passport or NRIC of the applicant.
    • A copy of passport or NRIC of the guarantor and chargor.
    • Booking receipt or deposit receipt or sales and purchase agreement.
    • Current or savings bank account statement.
    • Latest EA form or Form B with receipt of tax payment.
    • Employment confirmation letter or copies of salary slips for the last 3 to 6 months.
    • Assessment receipt.
    • Form 24 and 49 or form 9 for self-employed individuals.
    • Credit card statement.
    • Employment pass or PR certificate or work permit for individuals working overseas.
    • Loan payment record or financing payment record.
    • Tenancy agreement or education certificate.

    How To Apply

    • Offline Application: In order to apply for the OCBC Al-Amin Home Loan, a customer can visit the nearest OCBC branch and put in the request for the same. The applicants can also put in their request for OCBC Al-Amin Home Loan telephonically via the hotline or customer service numbers of the bank.
    • Online Application: One can also opt to apply for the OCBC Al-Amin Home Loan on the official website of the bank. The application form available online needs to be filled with required details and submitted along with all the necessary documents.

    Types Of OCBC Al-Amin Home Loan

    • Idaman-i: The Idaman-i is designed to suit the needs of individuals who seek financial help for the purchase of their first house. The plan comes with a high range of financing tenures that can be extended to 35 years.
    • Impian-i: Coming with a full waiver on stamp duty and a financing tenure that is extendable to 35 years, this plan serves as a house financing solution to customers planning to purchase a residential property.
    • Warisan-i: The Warisan-i plan helps customers get leverage on their house with up to 35 years of financing term.

    Features & Benefits

    • The house financing plan comes with a competitive financing range and profit rate.
    • The financing tenure with OCBC Al-Amin Home Loan can be extended to 35 years.
    • The facility provides you with up to 100% waiver on the stamp duty.
    • The calculation of the profit rate with this financing facility is done on a daily basis.

    Contact Number

    For more information about the OCBC Al-Amin Home Loan, one can contact the bank through its hotline numbers: 03-8314-9310 and 1300-88-0255.

    FAQ's

    Q. I’m a 58 year old Malaysian citizen. I need a house financing with a 15 year financing tenure. Can I apply for a financing through OCBC Al-Amin Home Loan?

    A. Yes, you can apply for the facility, but the maximum financing tenure you can get with OCBC Al-Amin Home Loan is 12 years.

    Q. I need financing for my first house. Which package should I go for under the OCBC Al-Amin Home Loan?

    A. The OCBC Idaman-i is the best fit for individuals looking for financing for their first house.

    Q. When will I get the ownership of the house?

    A. After the completion of the financing facility, the leasing ends with ownership.

    Q. How is the profit rate with my OCBC Al-Amin Home Loan calculated?

    A. The OCBC Al-Amin Home Loan comes with both fixed as well as floating profit rate. The profit rate is calculated on a daily basis.

    Q. How is the monthly repayment instalment calculated with OCBC Al-Amin Home loan?

    A. The monthly repayment instalment depends upon the financing amount, the length of the repayment tenure, and the profit rate associated with the facility.

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