Alliance Bank Home Loan

About Alliance Bank

Over the past five decades, Alliance Bank Malaysia Berhad has served customers in consumer banking, SME banking, wholesale banking, Islamic banking, investment banking, and stockbroking. Not only that but Alliance Bank was also named the 23rd most valuable brand in Malaysia by the Association of Accredited Advertising Agents in collaboration with Interbrand. Due to Alliance Bank’s expansion and innovation, the company recently launched Alliance Bank Visa Platinum virtual credit cards that allow customers to make JomPAY and QR code payments and access cash advance services simply by using the application.

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 Alliance Bank offer?

Alliance Bank provides 5 types of home loans:

  • Alliance FlexLink Home Loan
  • Conventional Home Financing
  • Commercial Property Conventional Term Financing
  • i-Wish Home Financing-i
  • Mortgage Term Financing-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 Alliance Bank home loans?

  • Conventional Home Financing
    • 21 years old and above
    • Minimum annual income of RM24,000

  • Commercial Property Conventional Term Financing, i-Wish Home Financing-i & Mortgage Term Financing-i
    • 21 years old and above

Why should I choose Alliance Bank home loans?

  • It provides various home and commercial loan financing options to suit your needs
  • It also offers Shariah-compliant home loan products based on the Bai Bithaman Ajil concept, which sells goods on a deferred payment basis
  • Get financing up to RM350,000*
  • Enjoy a maximum of 70% overdraft facilities*
  • You can deposit and withdraw your surplus cash at any time*
  • Enjoy loan tenure up to 35 years or upon age 70, whichever is earlier*

*Depending on the selected home loan.

Who should I contact for further information about Alliance Bank home loans?

  • Contact Alliance Bank Customer Service Centre: +60355169988
  • Walk into the nearest Alliance Bank branch for more information or assistance with Alliance Bank home loans

Please visit this link to locate Alliance Bank’s branches.

What are the documents required for Alliance Bank home loans?

  • Conventional Home Financing
    • Salaried employee
      • Copy of your NRIC/ passport
      • Latest 3-month salary slip
      • Latest EPF statement
      • Latest EA Form

    • Self-employed
      • Sole proprietor and partnership – Form A & D
      • Private Limited – Form 24 and 49
      • Latest B Form and tax payment receipt
      • Latest 6-month current account statement

  • Commercial Property Conventional Term Financing, i-Wish Home Financing-i & Mortgage Term Financing-i
    • N/A

What are the fees included in Alliance Bank home loans?

  • Withdrawal fee


  • Late payment fee

    1% of the amount arrears.

  • Early settlement fee

    2% of the loan amount approved.

  • Letter for EPF withdrawal fee

    RM50 per request.

  • Processing fee


  • Redemption statement

    RM50 per request.

What are the common terms of home loan?

  • Lock-in period

    A period during which you will be penalised if you pay off your home loan earlier than agreed. The fine ranges from 2% to 5% of the total amount.

  • Margin of Finance (MOF)

    The amount of money that a bank will lend you for your loan determines how much cash you must pay upfront for the property.

  • Interest rates

    It is the amount of money you paid to the bank in addition to the principal amount.

  • Valuation

    An estimate of the property’s worth and the stamp duty is calculated based on its value.

  • Base rate

    The base rate is the interest rate charged by Bank Negara Malaysia to commercial banks for loans.

  • Base Lending Rates (BLR)

    A rate set by each bank based on the cost of borrowing the money to be lent to borrowers.

  • Refinancing

    Repaying an existing loan and replacing it with a new one with new terms and conditions.