SMIfunding - AmBank Home Link

AmBank Home Link

Own your property sooner - Home Link let's you connect your Loan Account and Current Account - you'll save on loan interest and reduce your tenure

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

You Borrow	Estimated Interest Rate
RM100000 - 199999	4.45% p.a.
more than RM200000	4.25% p.a.

*Effective interest rate will be determined by AmBank upon approval.

Fees & Charges

There are always fees but how much are they?

Late Penalty Fee - 1% p.a. of the outstanding amount

Processing Fee - RM212.00 and additional RM106 for setup fees

Monthly Fee - RM10.60

Early Settlement Fee - 2% of the original loan amount

Redemption Letter Fee - RM53.00 per request

Letter for EPF Withdrawal Fee - RM21.20 per request

Cancellation Fee - RM50 per account upon acceptance of letter of offer

Insurance Types - MRTA

*inclusive of 6% GST

Requirements

Are you eligible for this AmBank home loan?

Minimum annual income - RM24000

Minimum age - 18 years old

Maximum age - 70 years old

Who can Apply - Malaysians

Permanent Residents, Foreigners residing in Malaysia with valid working permit

Frequently Asked Questions about AmBank Home Link

Things you might want to know

What do I need to know about AmBank Home Link?

The first thing you need to know about Home Link is that it joins your home loan account with your bank current account helping you save on loan interest. AmBank consider the money in your current account to be a balance of payment against your mortgage, so you can let all your money go to work reducing the principal and interest on your home loan.

Need some extra cash in a hurry? You can also draw down from payments made against you home loan. Used wisely, this is a convenient and cost-saving way to manage your mortgage.

Subject to credit check and approval AmBank will be able to finance up to 95% of the value of your new property. You can also opt for an additional 5%of financing to cover your MRTA policy.

What are my commitments?

Your monthly installment will be your main commitment. This is calculated from to be the difference between the loan and the amount in the linked current account, which might result in significant savings on interest payments.

By the end of the loan tenure, you will have paid the principal amount of the loan plus the interest. Please note, this is a floating interest rate, the total repayment amount may vary if the BR changes.

What about the insurance, what does it cover?

Group Mortgage Reducing Term Assurance ( MRTA) is highly recommended to hedge the risk of losing your family's property due to unforeseen circumstances. Fire Insurance is also compulsory for collateral property that you have assigned to AmBank.

What are the risks associated with this kinds of home loan?

The floating interest rate on Home Link may vary according to changes in the BR. An increase in interest rate may result in higher monthly repayment. If you have problems meeting your loan obligation, feel free to contact AmBank to discuss payment alternatives.

Why should I choose AmBank Home Link?

A good question. This AmBank mortgage might suit someone who had a variable income, such as a self-employed businessman, or a person whose regular salary included commission payments.

Will I be able to apply for this loan?

AmBank Home Link is open to Malaysians, permanent residents, and foreigners who have valid work permits.

What documents do I need to present to my loan officer?

If you are an employee earning a salary:

NRIC photocopy
Salary slips (last 3 months)
EA form/ EPF statement (last 2 years)
Sales & Purchase Agreement/ Booking receipt from developer

If you are self-employed:

NRIC photocopy
Salary slips (last 3 months)
EA form/ EPF statement (last 2 years)
Sales & Purchase Agreement/ Booking receipt from developer
Business registration A&D
Last 3 months bank statement