Alliance Bank

Alliance Bank Savelink Interest Payment Option

Get a mortgage holiday straight away - interest-only for the first three years of your housing loan - spend the money you save on your new home

    • 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 Interest Payment Option

Things you might want to know

How does Alliance Bank Savelink Option work?

This Savelink Option from Alliance Bank is flexible home financing linked to a current account. Unlike many other mortgages, Savelink allows you to make Interest only payments for the first three years of tenure, meaning you can spend less on your mortgage and more on your new home when it matters most.

Just like the Alliance Bank SaveLink Home Loan, it also offers fully flexible repayment, offering the luxury of depositing and withdrawing any amount at anytime for your own use.

Subject to credit check and approval Alliance will provide 90% margin of finance for properties which are complete or under construction. An additional 5% of financing can be added to your principal loan on Zero Moving Cost (ZEC) - MRTA, legal fees, evaluation fees, stamp duty and the like.

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.

Why should I choose the Alliance Bank Interest Payment Option?

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 net debit balance of the home loan amount and that of the current account.

There are no charges when you wish to redraw money form the mortgage, convenient for those who need extra cash on hand!

What documents are needed when applying?

If you are an employee earning a salary:

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

If you are self-employed:

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

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