Is An Alliance ONE Account Right For Me?
Alliance ONE Account is a mortgage refinancing service which maximizing your property's positive value.You can consolidate all of your loans into ONE account and reduce your monthly repayment. Alliance Bank is offering up to 95% margin of financing (inclusive of legal fees and insurance/takaful financing) on the current value of your equity, with tenure of up to 35 years. The margin of financing for Overdraft Facility/Cashline Facility-i is up to 70%.
AOA helps you to pay off your current loans/financing balances, conveniently consolidating multiple repayments into a single, easy to manage, financing scheme. This means you will have one monthly repayment that’s lower than all your other repayments combined. Flexible repayment options lets you decide how you want to repay the Overdraft Facility/Cashline Facility-i. Take your time to lower monthly repayment, or just enjoy the peace of mind from having a few monthly commitments to worry about.
Am I Eligible for an Alliance Bank Housing Loan?
You are eligible for this mortgage if you own residential or commercial property.
What Documents Will I Need to Prepare?
If you have applied for an Alliance ONE Account, you will be asked to provide these supporting documents in order for the bank to process your application. These documents are listed below:
* Application Form
* NRIC / Identity Card
* Copy of Sales and Purchase or Booking Receipt or Letter of Offer from Developer
* Copy of Individual Title Deed
* Property Valuation Report (for completed properties)
* Latest 3 consecutive months of salary slips / vouchers
* Latest 6 consecutive months of commission statement
* Latest EPF statements (with 3 consecutive months or more transaction history)
* Latest EA form
* Latest 6 months Bank Statement
* Letter of Confirmation of Employment and Remuneration
Is it Easy to Repay my Alliance Bank Mortgage?
: Transfer funds from your Alliance Bank Savings or Checking accounts to make your payments online
: Pay your loans at any of the MEPS ATMs (over 5,000) nationwide
: Pay your loans through the Interbank GIRO fund transfer at the participating bank’s branch or through online banking
Standing Instruction Facility
: Automatic deduction from your bank account every month
Alliance Bank ATMs
: Transfer funds from your Alliance Bank Savings or Checking accounts to make your payment at all Alliance Bank branches
Express Payment machine
: Make a check or cash deposit at Alliance Bank branches
Payment by Mail
: Mail to Alliance Bank with your check and statement enclosed in an envelope
: Issue instructions to have your bank account deducted to pay for your home loan with your T-PIN
If you are looking for other home loans, you may also consider
CIMB Islamic Home Loan
: At CIMB Islamic, the mortgage rate starts from Base Rate (BR) 4.00%. It does come with the option of a flexi loan package and there is a maximum of 90% margin of financing. There is no lock-in period for this mortgage.
Maybank Islamic Home Loan
: The home loan rate from Maybank Islamic starts from Base Rate (BR) 3.20%. The option of a flexi loan package is available and there is a maximum of 90% margin of financing. There is no lock-in period for this home loan.
Standard Chartered Saadiq Home Loan
: Standard Chartered Saadiq offers a housing loan rate starting from Base Rate (BR) 3.67%. There is available the option of a flexi loan package and there is a maximum of 90% margin of financing. There is no lock-in period for this housing loan.