Affin Bank Berhad is a Malaysian financial holding company with 111 branches. AFFIN Bank also provides a wide range of financial products and services to retail and corporate customers, including loan and financing, investment, life, general insurance, trade facilities, and others, to meet customers’ needs, particularly in today’s modern world. AFFIN Bank constantly connects and engages in understanding its customers’ changing needs and aspirations.
What is a home loan?
A home loan is a sum of money that you apply for or borrow from a bank to assist you in purchasing your dream home. Each loan will be charged an interest rate determined by the loan amount and the repayment period. So, keep in mind that each bank will have a different interest rate, and you should do some research before applying for a home loan.
What type of home loan does AFFIN Bank offer?
AFFIN Bank provides 7 types of home loans:
AFFIN Home Solution Plus
AFFIN Home Invest-i
AFFIN Home Flexi Plus
AFFIN Tawarruq Home Financing-i
My First Home Scheme / Skim Rumah Pertamaku-i
AFFIN Home Build / AFFIN Home Build-i
AFFIN Home Step Fast / AFFIN Home Step Fast-i
What should I know before applying for a home loan?
Interest rates
You must be aware of the interest rates that the bank will charge you, either fixed interest rates or variable rates.
Type of loan
In Malaysia, there are 3 types of loans offered: term loan, semi loan, or flexi loan.
Lock-in period
Knowing the lock-in period is crucial because it often occurs when there is a sudden need for full settlement, refinancing, or selling your property.
Margin of finance
You must understand your margin of finance, which is the amount of money that a bank will allow you to borrow for your loan and how much cash/ upfront you must pay for the property.
Fees
The fees include legal fees, stamp duty charges, late payment fees, early settlement fees, and others.
Type of bank
The bank you have chosen to apply for a home loan with, as different banks offer different loan amounts, terms, etc. Choose a bank where you are comfortable applying for a home loan.
Who is eligible to apply for AFFIN Bank home loans?
AFFIN Home Solution Plus & AFFIN Home Flexi Plus
18 years old and above
Property Investment Holding Limited Companies (AFFIN Invest Plus only)
AFFIN Home Invest-I & AFFIN Tawarruq Home Financing-i
18 years old and above
Property Investment Holding Limited Companies (AFFIN Invest Plus only)
My First Home Scheme / Skim Rumah Pertamaku-i
Malaysian citizen
18 years old and above
Property Investment Holding Limited Companies (AFFIN Invest Plus only)
