Affin Bank Home Solution Plus (conventional)

Up to 35 years

Semi-Flexi loan

Floating Interest Rate

3 years lock in period

Up to 90% 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 Solution Plus

Flexible mortgage plan that lets you make extra mortgage repayments, reducing your interest charges. Withdraw excess cash instantly when you need it.

    • Up to 35 years
    • Semi-Flexi loan
    • Floating Interest Rate
    • 3 years lock in period
    • Up to 90% margin of finance
    • 30 days approval
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You Borrow

Estimated Interest Rate

more than RM200000

4.40% 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 - Minimum charges of 0.5% of the original facility amount or RM2,000, which ever 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 - 70 years old

Who can Apply - Any nationality

 

Frequently Asked Questions about Affin Bank Home Solution Plus

Things you might want to know

 

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

Home Solution Plus is a flexi-mortgage for properties valued above RM200000 (if you're looking for a home loan for less than RM200000 you should check out Affinbank Home Assist).

The main thing to note about Home Solution Plus is that it does what it says: it's an extremely flexible mortgage. With this home loan you'll enjoy the luxury of depositing extra money, reducing your interest charges. And when you need you'll be able to withdraw excess cash for life's little emergencies. You can even link the excess portion of your homeloan to an overdraft account.

Subject to your application and approval Affinbank offer finance up to 90% of the value of your house for loan term up to 35 years (or until 70 years of age, whichever is sooner). To activate Zero Moving Cost (ZEC), an additional 5% can be added to the finance package to cover MRTA, legal fees, evaluation fees and stamp duty.

 

How much money can I borrow with this home loan?

Generally speaking, as a very rough guide, if you take this Affinbank mortgage your Debt Service Ratio should not exceed 65% of your net income if you earn less than RM5000 each month, or 80% of your net income if you earn greater than RM5000 each month.

 

What are my commitments?

You are required to pay your monthly installments based on a floating interest rate. By the end of the loan period you will have paid the principal amount of the loan plus the interest. Please note that total repayment amount may vary as your interest rate is linked to the Bank Lending Rate.

This home loan has two tiers, meaning that for the first ten years you'll enjoy a slightly lower interest rate to help you get started on your home payments. Once the first ten years are up, you'll switch over as you begin paying off the principal of the loan. For home loans in excess of RM500000 a 'fixed' rate of interest is offered.

 

What does the mortgage insurance cover?

The Mortgage Reducing Term Assurance ( MRTA) is protects you against the risk of losing your family's property due to unforeseen circumstances, such as serious illness. This insurance is compulsory.

 

What are the potential risks?

The interest rate on this loan may change as it is linked to the BR. An increase in the underlying Bank Rate will result in higher monthly repayments. The late penalty fee is relatively high, but that should only concern you if you do not keep up with your repayments!

 

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.
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What documents do I need to provide to make an 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