Alliance Islamic Bank CashVantage Personal Financing-i

About Alliance Financial Group

Since 1958, Alliance Financial Group has been serving Malaysians with innovative and customer-focused financial solutions. Over the years, they've grown into a trusted partner offering a wide range of services — from everyday banking and investments to protection and wealth management.

With the establishment of Alliance Islamic Bank, we are proud to provide Shariah-compliant financing and banking solutions designed to help individuals, families, and businesses achieve their goals while staying true to their values.

What is Alliance Islamic Bank CashVantage Personal Financing-i?

Alliance Islamic Bank CashVantage Personal Financing-i is a Shariah-compliant product offering flexible personal financing. It ensures transactions are interest-free and ethically sound. The solution features competitive, fixed profit rates for predictable payments and high financing amounts for various needs like education or home renovations.

How does CashVantage Personal Financing-i differ from conventional personal loans?

CashVantage Personal Financing-i differs from traditional loans by adhering to Islamic finance principles, using Shariah-compliant methods like Tawarruq or Murabaha instead of interest. It emphasizes transparency with clear terms and no hidden fees, offering flexible payment plans while complying with Islamic laws. This financing appeals to those interested in ethical banking solutions, focusing on fairness and accountability.

How to apply for an Alliance Islamic Bank CashVantage Personal Financing-i loan?

Applying for Alliance Islamic Bank’s CashVantage Personal Financing-i is easy — just click the “Apply” button, fill in your details, and our team will guide you through eligibility checks, required documents, and next steps. Once submitted, your application will be reviewed, and if approved, you’ll receive an offer to consider. You can also apply via the Alliance Bank website or by visiting your nearest branch.

What Shariah concept applies to Alliance Islamic Bank CashVantage Personal Financing-i?

The Shariah contract applicable is Murabahah, also known as Commodity Murabahah. It refers to the sale and purchase of an asset where the acquisition cost and the markup are disclosed to the purchaser. Read more about the Shariah concept here.

Do I qualify for an Alliance Islamic Bank CashVantage Personal Financing-i?

Eligibility requirements:

Income: Your minimum gross salary must be at least RM3,000 per month, or RM36,000 a year. Gross salary means salary before monthly deductions such as income tax and Employees Provident Fund (EPF) contribution.

Age: To qualify, you must be between the ages of 21 and 60. This means your age must not exceed 60 at the end of the financing tenure. For example, if you are taking up the loan at age 55, the maximum financing tenure you can qualify for is only 5 years, instead of the maximum 7 years.

Other qualifying criteria: You must be a Malaysian citizen or a permanent resident working and residing in Malaysia. Malaysian citizens working in Singapore but residing in Malaysia will also be considered.

What are the required documents?

• What is the minimum and maximum financing amount of the Alliance Islamic Bank CashVantage Personal Financing-i?

  The minimum financing amount is RM5,000. The maximum you can borrow is up to 4 times your fixed monthly gross salary or up to RM200,000. For example, if you are earning RM3,000 a month, you are eligible to borrow up to RM12,000.

• What is the profit rate of the Alliance Islamic Bank CashVantage Personal Financing-i?

  The Alliance Islamic Bank CashVantage Personal Financing-i offers a low-interest personal Financing, which is based on a fixed interest rate (flat) ranging from 4.99% per annum (or per year) for 1 years tenure, 5.99% per annum for 2 years tenure, 8.7% per annum for 3 & 4 years tenure and 9.78% to 15.28% for longer tenure per annum, throughout the entire Financing tenure.

  Personal Financing rate may vary based on individual risk rating:

  Financing tenure of 1  year	Financing tenure of 2 years	Financing tenure of 3 – 4 years	Financing tenure above 5 years
  Fixed interest rate from 4.99% per annum (Flat) throughout the entire Financing tenure	Fixed interest rate from 5.99% per annum (Flat) throughout the entire Financing tenure	Fixed interest rate from 8.7% per annum (Flat) throughout the entire Financing tenure	Fixed interest rate ranging from 9.7% and 15.28% per annum (Flat) throughout the entire Financing tenure

  The personal Financing interest rate is based on individual risk rating. Having a higher salary lowers your risk rating as it reflects that you are less likely to default in your financial obligations (or conditions) of a Financing. However, that’s just one factor the bank considers when they are approving your Financing.

• What is the minimum and maximum financing tenure of the Alliance Islamic Bank CashVantage Personal Financing-i?

  Financing tenure means the period of your financing. The minimum tenure starts from 1 year, and the maximum financing tenure is 7 years. Why does this matter? The longer your financing tenure is, the lower your monthly repayment will be. But it also means higher profit charges.

• What are the fees and charges?

  One-time set-up fee: A stamp duty fee of 0.5% on financing amount will be deducted upfront before your financing amount is given to you or disbursed to you. Remember, when you are applying through iMoney, there will be no deposit or other upfront charges payable to iMoney.

  Late payment charges: 1% on the outstanding loan amount. Late payment charges will increase your total outstanding loan amount

  Other fees: Alliance Islamic Bank CashVantage Personal Financing-i does not charge a processing fee, or early settlement fee*.

  * No early settlement penalty imposed if you provide Alliance Islamic Bank with

  • 3 months advance notice in writing, OR
  • A payment equivalent to 3 months’ profit charge in lieu of advance notice

• What is the Alliance Islamic Bank CashVantage Personal Financing-i loan calculator, and how can you use it?

  The Alliance Islamic Bank CashVantage Personal Financing-i loan calculator helps estimate monthly repayments and overall financing costs. Tailored for the Shariah-compliant CashVantage product, it offers a flexible financial solution. Enter the desired financing amount, tenure, and monthly salary in the calculator at the top of the page to compute an estimated monthly payment and total payment. This tool aids in informed borrowing decisions without initial commitment, helping you plan and choose options aligned with your financial goals while ensuring compliance with Islamic banking principles.

• Where can I download the Alliance Islamic Bank CashVantage Personal Financing-i application form?

  To download the Alliance Islamic Bank CashVantage Personal Financing-i application form, visit their official website. Navigate to "Personal Banking," select "Financing," and find detailed CashVantage information.

  Look for a "Download Application Form" link to access a printable PDF. If you can't find it online, contact customer service or visit a local branch for assistance.

• Can you apply online with Alliance Islamic Bank CashVantage Personal Financing-i?

  Yes, you may apply online via the iMoney application form, or you may visit their official website to apply. The straightforward process involves completing an electronic form and submitting necessary documents digitally. This approach saves time, streamlines applications, and is ideal whether consolidating debt or funding major purchases while adhering to Islamic banking principles.

• How long is the approval process?

  The Alliance Islamic Bank CashVantage Personal Financing-i can take up to 48 hours to process and approve your financing upon receiving all your information and documents. To speed up the process, you can complete the application through iMoney where our call centre consultant will walk you through the eligibility checker, application form, and advise you on required document submission.

• How can you check your Alliance Islamic Bank CashVantage Personal Financing-i application status?

  To check your Alliance Islamic Bank CashVantage Personal Financing-i application status, you have several options. Visit the bank's website and log in to your account to view loan applications.

  Alternatively, contact customer service via phone or email with your application reference number for assistance. Visiting a local branch is also an option for face-to-face updates and inquiries. These methods help you stay informed about your application's progress.

• How much is the monthly repayment of the Alliance Islamic Bank CashVantage Personal Financing-i?

  As with any personal financing, you will be required to make monthly repayment, which comprises of principal amount and profit charge.

  How much you pay per month depends on your financing amount, tenure, and profit rate. For example, if you are borrowing RM50,000 with a profit rate of 11.28% over 5 years, your monthly repayment will be around RM1,300.

  Use the personal loan calculator above to calculate your monthly repayment.

• How can you check your Alliance Islamic Bank CashVantage Personal Financing-i balance?

  Online banking offers a straightforward way to check your balance; log into the bank's portal for real-time updates and account management. The bank’s mobile app provides easy on-the-go access with just a few taps on your smartphone, ideal for those who prefer mobile convenience.

  For traditional methods or personalized support, visit a local branch or contact customer service. Staff can provide detailed insights and assist with any questions about your financing plan.

• How do I repay my Alliance Islamic Bank CashVantage Personal Financing-i?

  You can make loan repayments for the Alliance Islamic Bank CashVantage Personal Financing-i with the following methods:

  • Interbank GIRO (IBG)/Instant Interbank Funds Transfer (IBFT) via ATM or Internet Banking
  • From your Alliance Current Account/Savings Account - Direct Debit via Alliance Online Banking or Standing Instruction
  • Over-the-counter or at the self-service terminals at any Alliance Bank branch

• Where can I download the Alliance Islamic Bank CashVantage Personal Financing-i repayment table?

  You may download the Alliance Islamic Bank CashVantage Personal Financing-i repayment table here.

• What happens if you make late payments?

  Here's what happens if you fail to fulfill your obligations:

  1. A Late Payment Charge of 1% will be applied to you.
  2. The bank has the right to set off any credit balances in your account
  3. Legal action will be taken if you fail to respond to the reminder notices
  4. Legal action against you may affect your credit rating

• Can I do early settlement with the Alliance Islamic Bank CashVantage Personal Financing-i?

  Yes, you may. Below are the details of making an early settlement:

  • A 3-month notice is required prior to the settlement date.
  • Ibra’ (rebate) shall be granted.

• What is the contact number of Alliance Bank customer service, and how can you reach them?

  To address banking needs or issues, contact their Customer Service Centre at 03-5516 9988 or visit any Alliance Bank branch to speak directly with a representative for inquiries about accounts, loans, or services.

  Alliance Bank also offers online banking and digital communication, such as email support and live chat, to protect personal information and ensure reliable help.

• Can I apply if I have a bad CCRIS/CTOS/credit score?

  Unfortunately, no. Alliance Islamic Bank will check your credit history as part of their approval process. You are required to settle all overdue payments before applying and keep a healthy credit record before you apply for personal financing. It is advised that you continue repaying your loans on time for another three months before reapplying.

  Check your iMoney CreditScore for free to find out how your credit health is.

• Can I apply even if I'm blacklisted?

  No you may not apply for the loan if your name is blacklisted in the CTOS report.

• If you are looking for other personal loans, you may also consider:

  RHB Easy-Pinjaman Ekspres

  If your income is below RM3,000 per month, you can consider the RHB Easy-Pinjaman Ekspres with minimum income requirement of RM1,500. This is a conventional personal loan with an interest rate from 8.28% p.a. However, its maximum financing tenure is lower than Alliance Islamic Bank CashVantage Personal Financing-i at 5 years.

  HSBC Amanah Anytime Money Personal Financing-i

  The HSBC Amanah Personal Financing-i has a lower fixed profit rate, starting from 6.99% p.a. This personal financing also has a lower maximum tenure of 5 years. Similarly, it comes with a minimum income requirement of RM3,000.

  AmBank Islamic AmMoneyLine Facility-i

  If you are looking to stretch your monthly repayment to longer tenure, you can try the AmBank Islamic AmMoneyLine Facility-i with a maximum tenure of 8 years. It has a flat profit rate starting from 8% p.a. as well as a lower minimum income requirement of RM2,000.