AmBank Personal Loan

About AmBank

AmBank Group was the sixth-largest banking group in terms of assets and was listed on Bursa Malaysia’s Main Market in 1988. AmBank also serves over three million individual and corporate customers by providing a wide range of services, including wholesale banking, business banking, retail banking, investment banking, and related financial services such as Islamic banking, general insurance, and more than you can imagine! In Malaysia, AmBank Group currently has 175 branches and 766 ATMs, and the main headquarters is located on the Ground Floor, AmBank Tower, 8, Jalan Yap Kwan Seng, Kampung Baru.

What is a personal loan?

A personal loan is a type of instalment credit provided by a financial institution (bank) to a borrower (you) in a one-time cash payment. You, as a borrower, must pay back the amount plus interest either in regular or monthly instalments over the loan’s term agreement. Personal loans can be divided into secured loans (backed by collateral) and unsecured loans (no collateral required).

What type of personal loan does AmBank offer?

AmBank provides 1 type of personal loan, Personal Financing-i.

What are the eligibility to apply for Personal Financing-i?

The eligibility for individuals to apply for Personal Financing-i are as follows:

• Malaysian citizen
• Between 18 to 60 years (depending on the retirement age at maturity of financing, whichever is applicable)
• Minimum monthly income of RM1,500
• Minimum annual income of RM18,000
• Permanent position of not less than 3 months as a government and GLC employee

Why should I choose Personal Financing-i?

• Financing is applying the Shariah concept of Tawarruq, Murabahah, Wa`d, and Wakalah
• AmBank offers to finance amounts up to RM200,000
• The repayment tenure is offered for up to 10 years
• Profit rate:
• As low as 4.08% p.a. (government employees)
• Fixed profit rate 7.90% p.a. (non-government employees)
• Up to 3 months deferment periods
• Takaful coverage

There are numerous other reasons you should choose Personal Financing-i.

What are the benefits I can enjoy from Personal Financing-i?

Personal Financing-i can provide you with the following benefits:

• An excellent opportunity with competitive pricing and a high payout of up to 99.5%
• No guarantor or collateral is required
• Flexible repayment tenure up to 10 years
• Deferment for up to 3 months is possible
• There are no upfront payments required
• There are no monthly membership fees

*Terms and conditions apply.

What are the documents required for Personal Financing-i?

When applying for Personal Financing-i, the following documents are required:

• 3 copies of MyKad (front and back) and a certified true copy by your Head of Department
• Latest 1-month salary slip
• 2 copies of certified true copy by Head of Department for each salary slip or 3 copies for e-salary slip
• 1 copy of your Saving Account Passbook or Current Account statement where you want your loan to be banked-in (front page with name and account number)

What are the fees included in Personal Financing-i?

Certain fees apply, including:

• Stamp duty

  0.5% of the whole amount

• Processing fee

  RM10 (approval letter)

• Late payment fee

  1% on the amount in arrears

• Early termination fee

  None

• Insurance

  Insurance is required in conjunction with this financing

Who should I contact for further information about Personal Financing-i?

For more information or assistance with Personal Financing-i, contact AmBank Contact Center at +60321788888.

What are the common terms of personal loan?

• Per Annum (p.a.)

  The interest rate over one year with the assumption that interest is compounded annually.

• Tenure

  The period you must repay your loan.

• Principal

  Principal is commonly known as the loan amount you requested from the bank.

• Interest rate

  Principal is commonly known as the loan amount you requested from the bank.

• Instalment

  Instalment is the fixed amount you must repay your personal loan every month until the term expires.

• Penalty

  A fee that a bank will levy on your overdue amount if you are late with your repayment.

• Default

  The term used to describe a situation in which a personal loan is not paid off for more than three months.