Alliance Bank

Alliance Bank SaveLink Home Loan

Giving you the flexibility to reduce your loan principal and interest payments with a linked current account

    • Up to 35 years
    • Semi-Flexi loan
    • Floating Interest Rate
    • 3 years lock in period
    • Up to 90% margin of finance
    • 30 days approval
  • You BorrowEstimated Interest Rate
    more than RM3000004.32% p.a.

    *Effective interest rate will be determined by Alliance Bank upon approval.

Fees & Charges

There are always fees but how much are they?

Late Penalty Fee
1% p.a. of the outstanding amount
Withdrawal Fee
RM53.00 for each withdrawal
Processing Fee
RM212.00
Early Settlement Fee
Subject to terms of agreement with bank
Redemption Letter Fee
RM53.00 per request
Letter for EPF Withdrawal Fee
RM21.20 per request
Insurance Types
  • MRTA

*inclusive of 6% GST

Requirements

Are you eligible for this Alliance Bank home loan?

Minimum annual income
RM24000
Minimum age
21 years old
Maximum age
70 years old
Who can Apply
  • Any nationality

Frequently Asked Questions about Alliance Bank SaveLink Home Loan

Things you might want to know

What is the SaveLink Home Loan?

This is a flexible mortgage linked to a current account that will enable you to pay in excess of your monthly repayments to achieve higher savings - that's always a good thing!

Alliance Bank offers flexibility for your monthly installments, enjoy the convenience of depositing and withdrawing any amount from your home loan account, at anytime, for your own use. An optional overdraft may be added to the finance package.

Subject to a credit check you can finance 90% of the cost of your new house. You can treat this as a Zero Moving Cost (ZEC) mortgage as an additional 5% can be added to finance for MRTA, legal fees, evaluation fees and stamp duties, and other extra costs associated with moving into a new home.

What about my ongoing commitments?

Well, you are required to pay your monthly installments, that's for sure. By the end of the loan tenure, you will have paid the principal amount of the loan plus its interest. Please note that the total repayment amount may vary if BR changes. An important thing to note is that interest is charged based on the net balance of the home loan account and current account, so it would be beneficial for you to pay in advance for interest reductions.

What does the insurance 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 compulsory.

What are the potential risks?

  • The interest rate on this loan may change if there are variations in the BR. An increase in interest rate may result in higher monthly repayment
  • Bear in mind that if you withdraw from your linked current account your loan principal, loan interest, and loan tenure might go back up again.

Why should I choose the Alliance Bank SaveLink Home Loan?

  • Any extra cash that you deposit into your linked current account will automatically reduce your interest charges and shorten your loan tenure. This is because the interest is based on the combined debit balance of the home loan and current account.
  • There are no charges when you wish to redraw excess cash, convenient for those who always need extra cash on hand.

What documents are needed when applying?

Salaried applicant:

NRIC photocopy
Latest 3 months salary slip
Letter of Employment
Sales and Purchase Agreement/ Booking receipt from developer
Valuation report
Copy of the Title Deed

Self-employed applicant:

NRIC photocopy
Latest 3 months salary slip
Latest 6 months bank statement
From 24 & 49
Sales and Purchase Agreement/ Booking receipt from developer
Valuation report
Copy of the Title Deed

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