AmBank Islamic Arif Hire Purchase-i

Fast approval car loan - 90% financing for up to 9 years and easy online payments. Get behind the wheel faster and for less with AmBank Islamic.

    • Up to 9 years tenure
    • Fixed Islamic financing
    • Flat profit rate
    • Up to 90% margin of finance
  • ConditionOriginMaximum YearsMargin of FinanceProfit Rate
    NewLocal9 years90%3.05% p.a.
    Foreign9 years90%3.34% p.a.
    UsedLocal9 years90%3.66% p.a.
    Foreign9 years90%3.4% p.a.
View product disclosure sheet.

Fees & Charges

There are always fees but how much are they?

Profit Rate for New Cars
from 3.05% p.a. to 3.34% p.a., depending on car brand, borrowing amount, and period.
Profit Rate for Used Cars
from 3.4% p.a. to 3.66% p.a., depending on car brand, borrowing amount, and period.
Stamp Duty
Photocopy Charges
Consent Letter
Early Settlement Fee
Late Penalty Fee
1% of the outstanding amount

*inclusive of 6% GST


Do you qualify for this financing?

Minimum annual income
Minimum age
18 years old
Maximum age
70 years old
Who can Apply
  • Malaysians

Frequently Asked Questions about AmBank Islamic Arif Hire Purchase-i

Things you might want to know

Am I eligible for Ambank Islamic Arif Hire Purchase-i?

If you're older than 18 years of age and have a monthly salary of at least RM2000 then you can apply for this car loan. There is no denying that age and income are major determining factors for seal of approval on a loan, so depending on how young you are and how much you earn, you might be asked to find a guarantor (if you've got a rich uncle - time to cook him dinner..).

Is this an Islamic car loan?

Yes it is. This car loan is based on the Syariah concept of Ijarah Thumma Al-Bai, which is basically a rental agreement for the car between you and AmBank Islamic. At the end of the lease period you'll be presented with a purchase contract to transfer ownership of the car.

What are my monthly obligations?

The interest rate on your loan depends on several things: your car type, the amount you want to borrow, and the number of years you want to take to pay back your debt. Once you've been approved for AmBank Islamic Arif Hire Purchase-i you'll be given a schedule detailing your fixed monthly installments to the bank. You can easily pay for your installments via online banking or 24-hour e-Banking centres nationwide.

What if I fail to pay my car loan bill?

Well, I would be the first to say that it would be unwise to miss on your car loan repayments. Penalty fee for a late payment is 1% of the overdue amount, which is money you don't need to spend. To add to that, the bank will have the power to repossess your vehicle if you fail to pay for your installments for two months in a row. If you think you're going to be late making a payment: call the bank and let them know!

Can I settle my car loan early?

By all means! You will be entitled to an "ibra" (rebate) on the remaining lease charges.

What documents do I need to present to the hire purchase officer?

You will need a copy of the following:

Identification card and driving license
Latest 3 months salary slip, Form J and EA form
Bank statement/savings passbook
Other supporting documents for proof of income
Suppliers quotation(for new purchases)
Car registration card(used cars)

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