AmBank Home Loan

Gives you the option of a term loan or a combination of a term loan and an overdraft account, with flexible repayments and the ability to redraw

AmBank Home Loan
Tenure
Up to 35 years
Interest Rate
from 3.25% p.a.
Loan type
Semi-Flexi loan
Interest Type
Floating interest rate
Lock In Period
3 years
Margin of finance
up to 90%
Approval in
30 days

Interest Rate

The interest paid based on the home loan amount borrowed

You borrowEstimated Interest Rate
more than RM100,0003.25% p.a.
*Effective interest rate will be determined by AmBank upon approval.

Requirements

Minimum Annual Income
RM24,000
Minimum Age
  • 18 to 70 years old
Who can apply
  • Malaysians
  • Permanent Residents, Foreigners residing in Malaysia with valid working permit

Fees & Charges

Late Penalty Fee
1% p.a. p.a. of the outstanding amount
Withdrawal Fee
RM10 
Processing Fee
RM200 
Early Settlement Fee
2% within 3-year retention period
Redemption Letter Fee
RM50 per request
Letter for EPF Withdrawal Fee
RM20 per request
Insurance Types
  • Fire Insurance
  • MRTA

More Information

What do I need to know about AmBank Home Loan?

The AmBank Home Loan is a conventional semi-flexi mortgage based on a floating interest rate. You have a choice of conventional term loan, or a combination of term loan and overdraft that lets you withdraw extra money that you’ve paid onto your mortgage.

Subject to approval and credit check AmBank will be able to finance up to 95% of the value of your property. You can also opt for an additional 5% that will go towards your MRTA insurance.

If I sign up for this mortgage what are my commitments?

The big commitment is the monthly mortgage installment. Your total loan repayment may vary if BR changes but that can go up as well as down.

Be warned, AmBank has strict penalty charges. If you fail to pay your installments for two consecutive months your interest rate might be raised, resulting in higher overall repayments.

Do I need to take insurance with this home loan?

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 some really good things about the AmBank Home Loan?

Option to deposit extra repayments to reduce loan interest charges, leading you to have more money saved and hopefully, a mortgage paid off sooner. Excess repayment can be withdrawn as cash in times of need, especially useful in emergencies. 

To deposit extra repayment or to withdraw the money, you need to notify the bank 3 days in advance. You also don't have to pay for the monthly fees to enjoy such flexibility.

What documents do I need to present to my loan officer?

Salaried employee:

  • NRIC photocopy
  • Salary slips (latest 3 months)
  • EA form/EPF statement (latest 2 years)
  • Sales & Purchase Agreement/ Booking receipt from developer

Self-employed:

  • NRIC photocopy
  • Salary slips (latest 3 months)
  • EA form/EPF statement (latest 2 years)
  • Sales & Purchase Agreement/ Booking receipt from developer
  • Business registration A&D
  • Latest 3-months bank statement