AmBank Islamic Arif Hire Purchase-i

Fast approval car financing - 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
2% of the outstanding amount


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

Tell me about AmBank Islamic Arif Hire Purchase-i.

Arif Hire Purchase-i is a hire purchase agreement between a borrower (you) and a financier (the bank). Arif Hire Purchase-i does not only extend financing mean for you to own a car, but also acts as the key to all your automative needs!

With Arif Hire Purchase-i, you have the flexibility to finance your dream car based on your affordability, whether through fixed-rate financing (fixed monthly instalment) or step-up financing (progressive instalment).

It is designed to simplify your car ownership journey with a host of value-added benefits ranging from competitive interest rates, flexible tenures, to aftercare services such as road tax and insurance renewal.

Are there perks and benefits I can get from AmBank car loan?

It is worth mentioning that AmBank has a long established relationship with over 3,000 panel dealers nationwide - from local to prestigious brands, you name it.

Pick the one that is close to your heart and head over to AmBank website to get familiar with its online tools such as the instalment calculator where you can generate immediate online quotation.

Once you have satisfied with the numbers, you can straight away apply for Arif Hire Purchase-i its online application form. AmBank accepts application for financing of brand new car or even refinancing of current vehicle.

The best part about AmBank car loan is that you can instantly renew your road tax and insurance or Takaful at selected AmBank or AmBank Islamic On The Spot branches.

What is my monthly obligation?

Depending on the type of profit rate you chose, either fixed or variable rate, your instalment amount will consist of the principal amount and profit charges, payable every month until the end of the financing period.

If you late on your repayment, you will incur a late payment fee of 1% p.a. for fixed rate instalment, which is calculated on daily basis! Plus, AmBank has a legal right to repossess your vehicle when you have defaulted on payment for 2 consecutive months. 

Consequently, this will have a negative impact on your credit profile in the long run. So, the rule of thumb is pay your instalment on or before due date. If possible, make an early settlement at any time within the tenure because you'll get rebated.

Do I need insurance or Takaful coverage?

It is compulsory to take up Motor Insurance or Takaful to cover for loss and damage due to accident, fire, theft and third party bodily injury and death. There is also an optional insurance that takes care of any outstanding of your hire purchase financing in the event of death and TPD.

What documents do I need prepare to apply for this car financing?

  • Copy of MyKad & Driving License

Fixed income earners:

  • Latest income documents i.e. 3 months salary slip, EA form, income tax confirmation receipt, EPF statement

Variable income earners:

  • Latest income documents i.e. commission statements, income tax confirmation receipt, EPF statement
  • Bank Statements or savings account passbook (Latest 6 months period)
  • For new vehicle financing: suppliers quotation 
  • For used vehicle financing: vehicle registration card

Foreigners who are interested to bank with AmBank can apply but on one condition - you need a guarantor.

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