AmBank Islamic Logo

AmBank Islamic Home Financing-i

  • icon Interest Rate
    Profit Rate
  • icon New Base Rate
    New Base Rate
    2.60 %
  • icon Loan Type
    Loan Type
    Flexi Loan
  • icon Lock in Period
    Lock in Period
    3 years

icon New Base Rate Home Financing Calculator

RM
year(s)
Profit Rate
You Pay
RM /mth

What's so great about AmBank Islamic Home Financing-i?

  • Option to make extra repayments to reduce loan interest

  • Full Flexi Packages

  • Combination of term loan and overdraft facility is available

icon Eligibility

Minimum Age: 21 Years
Loan Tenure: Up to 35 Years
Margin of Finance: 90% + 5% for MRTA financing with AmLife Insurance
Suitable for: Completed & under-construction properties, refinancing

Review by iMoney

  • The home loan packages offered by AmBank Islamic are Shariah compliant and based on the concept of Bai Bithaman Ajil (BBA)  the sale of goods on a deferred payment basis. The conventional Home Financing-I is a basic term loan and the Flexi-Home Financing-I is a full-flexi package that comes with a linked current account. AmBank Islamic's full-flexi package allows the borrower to make extra repayments to decrease interest charges. Despite being variable rate products, the maximum interest chargeable for all home loan packages is capped.

    AmBank applies risk-based pricing to price home loans. This means the credit rating, banking habits and payment affordability play a role in determining the interest pricing offered to AmBank Islamic home loan applicants.

    AmBank Islamic Home Loan comes with a zero lock in period. In case you're planning to make an early settlement and redeem your loan - through a property sale or refinancing - it can be done without incurring an early settlement penalty.

    AmBank Islamic can provide a margin of financing of up to 90% and extra 5% to finance your MRTA (Mortgage Reducing Term Assurance) or other entry costs such as stamp duties and legal fees. Home loans are granted up to a maximum loan period of 30 years or up to age 65 whichever is earlier.

    An AmBank Islamic Home Loan calculator is prepared to help you with your budget planning. By inserting your loan amount and loan duration, the AmBank Islamic Home Loan calculator will show you the interest rate that will most likely be charged on your home loan together with your monthly loan repayment.

  • AmBank Islamic offers two Shariah compliant home financing packages based on the concept of Bai Bithaman Ajil (BBA), which is the sale of goods on a deferred payment basis. The key features of the Flexi Home Financing-I package and the Home Financing-I package are highlighted in the table.

    Product Key Features Is this a flexi package?
    Flexi-Home Financing-i
    • Equipped with a variable rate and a maximum capped profit rate
    • Processing fee is waived
    • Discount on early settlement penalty
    Yes, full flexi
    Home Financing-i
    • Fixed financing rate and payment schedule
    • Legal Fees/ Stamp Duty waived for completed and refinancing units
    No
  • Flexi home packages come with requirements, fees and conditions that should be considered together with the benefits. Borrowers can make extra repayments through these packages to reduce the monthly interest charges on their home loans (effectively reducing the overal interest charges that they incur).

    Flexi Home Financing-i
    Flexi type Full-Flexi
    Is a linked bank account required? Yes
    Account Maintenance Fees RM10 per month
    Redrawal Fees No
  • In order for the bank to process your AmBank Islamic Home loan application, you will need to provide some supporting documents:

    • 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
  • Based on your desired property value and loan amount, you can calculate for your monthly repayments by using the AmBank Islamic home loan calculator. A free enquiry can be made once you have identified a suitable loan amount for you and our mortgage conculatant will call you back to assist you with your application. Home loan application through iMoney is free of charge. If you are not sure whether this home loan by AmBank Islamic is your best option, click here to compare other home loans in Malaysia.

  • These are the methods you can use to repay an AmBank Islamic Home Loan

    Online Transfer
    : Transfer funds from your AmBank Islamic Savings or Checking accounts to make your payments online

    MEPS
    : Pay your loans at any of the MEPS ATMs (over 5,000) nationwide

    Interbank GIRO
    : 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

    Citibank ATMs
    : Transfer funds from your AmBank Islamic Savings or Checking accounts to make your payment at all Citibank branches

    Express Payment machine
    : Make a check or cash deposit at AmBank Islamic branches

    Payment by Mail
    : Mail to AmBank Islamic with your check and statement enclosed in an envelope

    Phone Banking
    : Issue instructions to have your bank account deducted to pay for your home loan with your T-PIN