A wide range of loan packages are provided by AmBank to cater to the different requirements of prospective homeowners. The Home Loan, which can be set up as a combination of term loan and overdraft, is AmBank’s most popular product. This means that with AmBank housing loan, you can withdraw extra money that you have paid onto your mortgage, thus allowing you to get more cash whenever you need it! You can also opt for an additional 5% that will go towards legal fees, valuation fees and MRTA when you apply this AmBank housing loan.
The other type of AmBank housing loan, HomeLink, a full-flexi home loan that is linked to your current account allows you to reduce your interest charges and shorten your loan tenure by making regular extra repayments into the linked account. AmBank also offers the Skim Rumah Pertamaku (My First Home Scheme), which is designed to assist young adults earning less than RM3,000 per month to purchase their first home. The more funds in your account, the greater the savings on loan interest. You can also withdraw instant cash via ATM or cheque book by this AmBank housing loan. For those who have a variable income, such as self-employed businessman or commission-based employee, this AmBank housing loan product (AmBank HomeLink) might be suitable for you.
AmBank also offers the Skim Rumah Pertamaku (My First Home Scheme), which is designed to assist young adults earning less than RM3,000 per month to purchase their first home. The major risk of this AmBank housing loan is the interest rate may change according to changes in Base Rate (BR). If you have problems meeting your loan obligations, you may contact AmBank to discuss repayment alternatives.
AmBank applies risk-based pricing to individual customers, which means that the interest rate offer to each customer is customised to reflect the risk profile of each application. Good credit standing, good banking habits will help get you a lower interest rate offer from AmBank.
AmBank housing loan is a mortgage based on a floating interest rate. AmBank Home Loan has a lock-in period of 5 years – one of the longest lock-in periods in the market. If you sign up for any AmBank housing loan products, you need to be consistent and fully committed. If you plan to settle early and complete your loan repayment in 5 years, you will face a penalty payment of up to 3% on your outstanding loan amount. Understand all the fees and charges when you enquire about any AmBank housing loan. If you are well prepared and well-informed, AmBank housing loan products will definitely provide you the best options to choose from.
AmBank offers an array of home loan packages to suit various individual needs in the form of Home Loan, HomeLink and My First Home Scheme. The key features of each package are highlighted below for your comparison.
|Product||Key Features||Is this a flexi package?|
|Skim Rumah Pertamaku (My First Home Scheme)||
Flexi home packages allow borrowers to make extra repayments every month in order to reduce their monthly interest charges. These packages come with requirements, fees and conditions that should be considered alongside their benefits.
|Is a linked bank account required?||Yes|
|Account Maintenance Fees||RM10 per month|
AmBank Home Loan is open to Malaysians and Permanent Residents, and foreigners with a valid Malaysian work permit and a minimum age of 18 years.
If you have applied for an AmBank Home Loan, you will be asked to provide some supporting documents in order for the bank to process your application. These documents are listed below:
You can use the AmBank home loan calculator to calculate your monthly repayments, based on your desired property value and loan amount. Once you are ready to apply, you can make a free enquiry through iMoney, and we will call you back. Applying for a home loan with iMoney is absolutely free of charge. If you are not sure whether this home loan by AmBank is your best option, click here to compare other home loans in Malaysia.
AmBank home loans can be conveniently repaid through any of the below methods: