- You Pay
- RM 89 /mth
- Profit Rate
- Total Profit Payable
- RM 70
- Total payment
- RM 1,070
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Fixed profit rate starting at 4.99% per annum (subject to bank's approving criteria)
Approved financing amount of up to RM150,000
Consolidate Credit Card and/or Personal Loan commitments into ONE single monthly repayment
Use our personal financing calculator to find the best personal financing based on your requirements and eligibility.
Select the best product that fits your requirements from the list of recommended personal financing products listed and click on the Apply button.
Fill in a form with your details to be submitted for application, and a representative from iMoney or the bank will call you to process the application.
The Alliance Islamic Bank CashVantage Personal Financing-i is an unsecured Islamic personal financing that can be used for a variety of purposes, including debt consolidation, business purpose and home improvements.
Best for: iMoney recommends Alliance Islamic Bank CashVantage Personal Financing-i for debt consolidation as it allows you to consolidate up to a maximum of four credit cards and/or personal financing commitments.
Income requirements: This personal financing is open for those who are earning RM3,000 and above a month, or those who need to borrow a higher financing amount (it can go up to RM150,000).
Pros: There will be no processing fee, guarantor or collateral required and no early settlement penalty*.
You can apply for the loan here.
The Shariah contract applicable is Murabahah, also known as Commodity Murabahah. It refers to a sale and purchase of an asset where the acquisition cost and the mark-up are disclosed to the purchaser. Read more about the concept here.
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 age 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.
Once you have completed your application with iMoney, you are required to provide the following documents for your application:
The maximum you can borrow is up to 4 times your fixed monthly gross salary or up to RM150,000. For example, if you are earning RM3,000 a month, you are eligible to borrow up to RM12,000. The minimum loan amount if RM5,000.
Financing tenure means the period of your financing. The maximum financing tenure for Alliance Islamic Bank CashVantage Personal Financing-i 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.
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.
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
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.
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.
Here's what happens if you fail to fulfill your obligations:
Yes you may. Below are the details of making an early settlement:
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.
No you may not apply for the loan if your name is blacklisted in the CTOS report.
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.
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.
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.