For prospective home buyers who are looking for a semi-flexi remortgage financing, this home loan is a perfect match for you.
Tell me about Affin Credit Plus
Affin Credit Plus consists of a term loan of variable interest rate with a maximum tenor of 35 years and an overdraft facility.
The bank can finance up to 90% of the property value, but the minimum loan amount should not be less than RM50,000. If you add another 5%, the bank will absorb other fees including legal, stamping and valuation, for you. On top of that, you will also be covered with mortgage reducing term assurance.
What advantages can I get from this product?
The flexibility of repayment, meaning that you can save on interest payment and gradually reduce your loan outstanding, and subsequently shorten your loan tenor when you top up extra cash on top of your monthly instalment.
Plus, you have access to overdraft facility at BR + 2.06%. Think of it as a quick and hassle-free standby credit you can use for personal consumption or investment in other assets.
Can I withdraw that excess money?
Absolutely. You can withdraw that extra repayment at a small fee of RM26.50 with the minimum withdrawal amount must be RM3,000 with a multiple of RM1,000 thereof, subject to minimum available balance of RM5,000 in advance payment bucket.
You should also take note that prior to depositing extra cash on your next monthly instalment, you need to inform the bank via a one-month notice, otherwise it will be considered as advance payment.
What if I want to settle the home loan early?
It is praiseworthy to paying off your outstanding balance before meeting your loan expiry date as you can claim ownership title of the house from the bank very quickly.
But always remember to do so after 3 years from the date of disbursement, otherwise 2% on the principal amount will be charged to you as a penalty.
I’m interested. What documents do I need to prepare?
If you are an employee earning a salary:
- Copy of NRIC
- Sale & Purchase agreement
- Last 3-month salary slips
- Latest EA form or Borang B
- Latest EPF statement
- 3-month bank statement
If you are self-employed:
- Copy of NRIC
- Sale & Purchase Agreement
- Latest Borang B
- Last 6-month business account statement
- Lat 6-month personal account statement
- Latest Profit & Loss account