AmBank Islamic HomeLink-i
Ambank Islamic provides you with an Islamic mortgage that lets you reduce tenure by many years with extra repayments on your linked current-account-i
You Borrow |
Estimated Profit Rate |
RM100000 - 199999 |
4.45% p.a. |
more than RM200000 |
4.25% p.a. |
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 - MRTT
*inclusive of 6% GST
Requirements
Are you eligible for this AmBank home financing?
Minimum annual income - RM24000
Minimum age - 18 years old
Maximum age - 70 years old
Who can Apply - Malaysians
Frequently Asked Questions about AmBank Islamic HomeLink-i
Things you might want to know
How does HomeLink-i work?
AmBank Islamic HomeLink-i is a fully Syariah compliant mortgage which adheres to the principle of of Bai BithamanAjil (
Do I really need the insurance?
Group Mortgage Reducing Term Takaful ( MRTT) would is a great choice to make as it will protect you from losing your family's property due circumstances that you cannot control, or foresee. It is also compulsory to have fire insurance.
What are the risks associated with these kinds of home loans?
The profit rate on this mortgage may vary if the IBR changes. Any interest rate increase will result in higher monthly installments. If you have problems meeting your loan obligation, feel free to contact AmBank Islamic to discuss payment alternatives.
Thankfully, a very high IBR won't harm you as much with a capped profit rate policy set up by the bank. The cap is set at 9.99%, which is quite competitive.
What documents are needed when applying?
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