Alliance Bank CashVantage Personal Financing-i

A flat rate unsecured Islamic personal financing with low monthly instalments, debt consolidation option and fast approval. Get a 20% cashback on profit paid, valid until 31 March 2023.

Alliance Bank CashVantage Personal Financing-iFast Approval & Low Profit Rate
Profit Rate
From 4.99% p.a.
Financing
up to RM200k
Tenure
up to 7 years
Loan Type
Unsecured Islamic Financing
Min. Income
RM3,000/month

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Profit rates

Based on your loan amount & loan period, the profit rates are as low as the following

Financing ValueFinancing periodYour IncomeProfit Rate
RM5,000 - RM200,00012 monthsmin. RM36,0004.99% p.a.
RM5,000 - RM200,00024 monthsmin. RM36,0005.99% p.a.
RM5,000 - RM200,00036 to 48 monthsmin. RM36,0008.7% p.a.
RM5,000 - RM200,00060 to 84 monthsmin. RM36,0009.78% p.a.
RM5,000 - RM200,00060 to 84 monthsmin. RM36,00015.28% p.a.

Fees & Charges

Profit Rate / APR
As low as 4.99% p.a.,depending on financing amount and period
Processing Fee
None
Stamp Duty
 0.5%  of the whole amount
Early Termination Fee
None
Late Penalty Fee
 1%  from current outstanding amount

Requirements

Minimum Annual Income
RM36,000
Minimum Age
  • 21 to 60 years old
Who can apply
  • Malaysians

More Information

Alliance Bank CashVantage Personal Financing-i Key Features:

This Shariah-compliant personal financing comes with several key features that are worth highlighting:

  • Profit rate as low as 4.99% p.a.
  • High financing amount of up to RM200,000
  • Seamless online application (no guarantor or collateral required!)
  • Fast approval and disbursement
  • 20% cashback on profit paid (exclusive offer for a limited time only!)
  • Debt consolidation is available 

With all of this great features like no other, you can apply for this Alliance Islamic personal loan to fulfil your personal needs such as for home improvement, purchasing a new vehicle, getting married, or starting a new business — as long as it is reasonable enough for the bank to consider.

Plus, speaking of the debt consolidation feature, if you are at your wit's end over your piling outstanding credit cards and/or personal loan debts with other financial institutions, Alliance Bank CashVantage Personal Financing-i can be used for debt consolidation purposes! Just make sure you let the bank know your intention to refinance.

Exclusive 20% Cash Back Campaign

For a limited time only, approved applicants of Alliance Personal Loan or Personal Financing-i may stand a chance to get 20% Cash Back exclusively by Alliance Bank and Alliance Islamic Bank.

This promotion runs from 1 January 2023 to 31 March 2023 (“Campaign Period”), subject to the campaign's terms and conditions.

Who is qualified for this promotion?

This campaign is open to new individual customers who apply for a new Alliance Personal Loan or Alliance Personal Financing-i through Alliance Bank’s website or Sales channel.

To be eligible, you must earn a gross monthly income of RM3,000 as a salaried employee or RM5,000 if you are self-employed. Additionally, the financing facility you are applying for also must be approved and disbursed during the Campaign Period to be eligible as a “Qualified Customer”.

Those who are not eligible for this promotion include the following:

  • Customers who have participated in other promotional offers on preferential rates for the Facility during the Campaign Period
  • Customers whose account(s) with the Bank are unsatisfactorily conducted; and
  • Any other persons who the Bank may exclude according to its internal policies

Which personal loan(s) can I apply for?

You can apply for:

  • Alliance Bank CashFirst Personal Loan
  • Alliance Bank CashVantage Personal Financing-i

How to be eligible for the 20% Cash Back?

The 20% Cash Back is up for grabs on the total interest or total profit payable on the approved and already disbursed Financing Facility during the Campaign Period.

That said, to be entitled to the Cash Back, you as the Eligible Customer must pay the monthly instalment amount of the Financing Facility before the due date during the entire tenure of the said Facility (“Qualified Customers”) before being eligible for the 20% Cash Back.

When will the 20% Cash Back be credited to my account?

Based on the T&C, the first Cash Back will be paid one (1) day after the fourth (4th) instalment due date. 

The last Cash Back, on the other hand, will be paid one (1) day after the instalment of T-8 months — which refers to the eight (8) months before the end of the contractual tenure of the Financing Facility. These are known as the “Cash Back Period”.

For a better understanding, there is an illustration in the T&C that you can refer to.

Can you show me the calculation of the Cash Back?

For more details about the calculation, you can find the illustration in the Campaign T&C here.

Where can I reach out to for more information?

For any questions, please feel free to give the Bank a call or you can visit their website to find out more details about the campaign/promotion.

How much money can I borrow from this Islamic personal loan?

Alliance Bank CashVantage Personal Financing-i offers a competitive flat profit rate and flexible repayment terms. 

The maximum borrowing amount and loan tenure may be subject to Alliance Islamic Bank's due diligence and approval.

How fast can I get my money?

Alliance Bank takes between two to three working days to process your personal loan application, once you have submitted the completed documents to the branch.

Depending on which branches you have selected, you could potentially get your Alliance personal loan application approved and disbursed within 24 hours too, subject to Alliance Bank's approving criteria.

Under its Same Day Cash feature, you need to bring your application form and supporting documents to perform a biometric scan and print out your EPF statement at Alliance Bank's designated branches:

  • Midvalley
  • Bandar Puteri Puchong
  • Subang Jaya (SS15)
  • Jalan Ipoh
  • Taman Connaught
  • Permas Jaya
  • Batu Pahat
  • Holiday Plaza
  • Air Itam
  • Butterworth
  • Sinsuran
  • Jalan Gaya
  • Laksamana
  • Taman Eng An
  • Puchong Jaya

If you wish to disburse the approved money into another bank account of your choice, it will be subjected to IBG transfer time and charges.

Are there fees and charges I need to pay?

The advantage of this Islamic personal loan is that there is no processing fee or early exit fee. As for the latter, you only need to give the bank 3 months' written notice or profit rates.

The only fee you are required to pay is the Stamp Duty of 0.50%, which will be deducted from your total borrowed amount.

Who can apply for Alliance Bank CashVantage Personal Financing-i?

All Malaysians working and residing in Malaysia aged between 21 to 60 years can apply for this Islamic personal loan. 

For example, if you are 58 years old at the time of the personal loan application, you can only borrow for a maximum of 2 years as your loan tenure will cease upon reaching the maximum age.

To make an application you must provide supporting documents:

Salaried Employee:

  • Copy of IC (front and back)
  • Copy of Disbursement Account statement/passbook (first page)
  • Latest 3-months salary slip
  • Latest 6-months EPF statement; OR
  • Latest BE form with tax payment receipt
  • Latest 6-months commission statement (for commission earners)

Self-Employed:

  • Copy of IC (front and back)
  • Copy of Disbursement Account statement/passbook (first page)
  • Latest 6-months salary slip OR the company's bank statement
  • Latest 6-months EPF statement
  • Latest B Form with tax payment receipt

Am I qualified to apply for Alliance Bank personal loan if I'm blacklisted?

Depending on your credit history with other financial institutions because all this information (outstanding credit card, personal loan, home loan or car loan debts) will be captured in CCRIS / CTOS (a system that collects credit information on borrowers, not blacklisting them).

Assuming you have poor credit standing due to irregular payments, the best course of action would be to break the habit and start making your payments on time to avoid future hurdles.

Alliance Bank is more likely to approve your personal loan application if you can show that you are managing your personal finances, rather than accumulating more debt.

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