AmBank

AmBank Islamic HomeLink-i

Ambank Islamic provides you with an Islamic mortgage that lets you reduce tenure by many years with extra repayments on your linked current-account-i

    • Up to 35 years
    • Flexi Islamic financing
    • Floating Profit Rate
    • 3 years lock in period
    • Up to 90% margin of finance
    • 30 days approval
  • You BorrowEstimated Profit Rate
    RM100000 - 1999994.50% p.a.
    more than RM2000004.30% p.a.

    *Effective profit rate will be determined by AmBank upon approval.

Apply online now for AmBank Islamic HomeLink-i

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Fees & Charges

There are always fees but how much are they?

Late Penalty Fee
1% p.a. of the outstanding amount
Processing Fee
RM212.00 and additional RM106 for setup fees
Monthly Fee
RM10.60
Early Settlement Fee
2% within 3-year retention period
Redemption Letter Fee
RM53.00 per request
Letter for EPF Withdrawal Fee
RM21.20 per request
Insurance Types
  • Fire Takaful
  • MRTT

All fees & charges are inclusive of 6% GST if applicable

Requirements

Are you eligible for this AmBank home financing?

Minimum annual income
RM24000
Minimum age
18 years old
Maximum age
70 years old
Who can Apply
  • Malaysians
  • Permanent Residents, Foreigners residing in Malaysia with valid working permit

Frequently Asked Questions about AmBank Islamic HomeLink-i

Things you might want to know

How does HomeLink-i work?

AmBank Islamic HomeLink-i is a fully Shariah compliant mortgage based on the concept of Bai Bithaman Ajil ( BBA). This mortgage is based on a variable rate pegged to the IBR, with a capped profit rate. However, this Islamic mortgage is only applicable to the existing HomeLink accountholders.

As the name suggests AmBank Islamic will open a current account (CA-i) linked to your home loan. The balance of your current account will be deducted from your loan principal which allows for a reduction in profit calculations for the bank. That means more savings for you!

AmBank Islamic will be able to finance up to 90% of the value your house. You can request an additional 5% financing to go towards MRTT. This is of course subject to approval of your your creditworthiness.

And my commitments?

The major commitment will be your monthly installments. You'll have the flexibility of paying extra onto your principal through the current account. 

If you fail to pay your repayments for two months straight the bank has the right to raise your interest payments so be careful, their late penalty charges can be quite severe.

Do I really need the insurance?

Group Mortgage Reducing Term Takaful ( MRTT) is highly recommended to hedge the risk of losing your family's property due to unforeseen circumstances. Fire Takaful is compulsory to cover damages due to fire breakout and used as a collateral to AmBank Islamic.

What are the risks associated with these kinds of home loans?

The profit rate on this mortgage may vary if the IBR changes. Any interest rate increase will result in higher monthly installments. If you have problems meeting your loan obligation, feel free to contact AmBank Islamic to discuss payment alternatives.

Thankfully, a very high IBR won't harm you as much with a capped profit rate policy set up by the bank. The cap is set at 9.99%, which is quite competitive.

What documents are needed when applying?

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

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