Affin Bank –Home Assist Plus (conventional)

Up to 35 years

Semi-Flexi loan

Floating Interest Rate

3 years lock in period

Up to 85% margin

30 days approval


Borrowing RM Monthly Repayment
RM


Profit Rate

%
How Long Year
max 35 Year
Flexi/Term Lock in Period Islamic or Conventional
All Flexi Term All Yes No All Islamic Conventional

Affin Bank Home Assist Plus

Perfect for the first time home buyer this mortgage is created especially for lower cost houses and folks earning a lower income

    • Up to 35 years
    • Semi-Flexi loan
    • Floating Interest Rate
    • 3 years lock in period
    • Up to 85% margin of finance
    • 30 days approval
  •  

You Borrow

Estimated Interest Rate

RM100000 - 200000

5.00% p.a.
  • *Effective interest rate will be determined by Affin Bank upon approval.

 

Fees & Charges

There are always fees but how much are they?

Late Penalty Fee - 8.34% revised interest rate p.a. if monthly installment are in default for 3 months

Withdrawal Fee - RM26.50 for each withdrawal

Processing Fee

Early Settlement Fee - 3% of the original loan amount

Redemption Letter Fee - RM53.00 per request

Letter for EPF Withdrawal Fee - RM21.20 per request

Cancellation Fee - 0.5% of the original loan amount or RM2,000, whichever is higher.

Insurance Types - MRTA

*inclusive of 6% GST

Requirements

Are you eligible for this Affin Bank home loan?

Minimum annual income - RM24000

Minimum age - 18 years old

Maximum age - 65 years old

Who can Apply - Any nationality

 

Frequently Asked Questions about Affin Bank Home Assist Plus

Things you might want to know

 

What do I need to know about Affinbank Home Assist Plus?

Home Assist Plus is flexi mortgage created for buying properties valued at less than RM200000. Subject to application and approval Affinbank offer to finance up to 90% of the value of your house for up to 35 years (or until you reach 65 years of age, whichever is sooner). An additional 5% can be borrowed for setting up zero moving cost if you need to finance MRTA, legal fees, evaluation fees, and stamp duty.

Affinbank's low cost mortgage provides a great deal of flexibility in your monthly payments, allowing for over-payment when you can afford it. Excess cash paid into your home loan account reduces the amount of interest you are charged, and the extra balance can then be withdrawn as and when you need extra funds. You can also link the excess payments to an overdraft account for easy access to that extra cash in an emergency.

 

What are my obligations?

As with most home loan products sold in Malaysia it's important to remember that the money you borrow with Home Assist Plus is secured on your house - if you don't make your repayments you run the risk of losing your home. That's an obligation you don't want to miss.

If at any time you think you're going to have trouble making your mortgage payment, talk to the bank. They'll be glad to hear from you and in most cases, happy to work with you to sort things out.

 

What does the mortgage insurance cover?

Group Mortgage Reducing Term Assurance ( MRTA) is optional, but highly recommended. MRTA protects you against the risk of losing your family's property due to accident, injury, illness and the like.

 

What are the risks?

The interest rate on this loan may change as it is fixed to the BR. An increase in Base Rate will mean you pay more interest on your mortgage. Loans that are already approved and extended prior to January 2, 2015 will still follow the old BLR until the end of the loan tenure.

 

Why should I choose the Affinbank Home Solution Plus?

There are some really good benefits with this home loan.

  • Long Tenure: Length of loan is the maximum allowable in Malaysia - 35 years.
  • Flexibility: You can pay extra when you can afford to, reducing your interest charges.
  • Excess Cash: If you pay extra you can withdraw excess cash as and when you need it.
  • Daily Compounded Interest: If you make excess repayments throughout the month, your daily interest rate charge decreases
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What documents do I need when I make this home loan application?

Salaried applicant:

NRIC photocopy
Latest 3 months salary slip
Latest 3 months bank account statement
Latest 6 months commission statements (for commission earners)
Latest pension fund statement (for pensioners)
Latest EPF statement
EA form or Borang B supported by tax payment receipt
Letter of Employment
Sales & Purchase Agreement/ Booking receipt from developer
Valuation report
Copy of the Title Deed

Self-employed applicant:

NRIC photocopy
Latest 6 months bank statement
Latest Borang B supported by tax payment receipt or E-Filing
From 24 & 49
Latest Profit & Loss Account or Management Account
Sales & Purchase Agreement/ Booking receipt from developer
Valuation report
Copy of the Title Deed