Malayan Banking Berhad, also known as Maybank, is the largest company in Malaysia by market capitalisation on the Malaysian Bourse (Bursa Malaysia). It was founded in 1960. Maybank provided its customers with a wide range of products and services, including commercial banking, investment banking, Islamic banking, offshore banking, leasing and hire purchase, insurance, asset management, stockbroking, internet banking, etc. One of Maybank’s missions is to provide people with easy access to financing.
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 Maybank offer?
Maybank provides 7 types of home loans:
Maybank London Residential Home Financing
Foreign Currency Offshore Property Financing-i
Commodity Murabahah Home Financing-i
Maxihome Flexi Loan
Maybank Maxihome Ezy
Maxihome
Houzkey Homeownership Plan
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 Maybank home loans?
Maybank London Residential Home Financing
Residential property for Buy to Let (BTL) only
Between 18 to 70 years old
Have an existing relationship with Maybank Group
Up to 80% + 5% of purchase price or the latest market valuation, whichever is lower
Foreign Currency Offshore Property Financing-i
Malaysian citizen and Permanent Resident
Non-United Kingdom or European Economic Community (EEC) resident
Commodity Murabahah Home Financing-i
Eligible for all individuals, joint applicants, residents, and non-residents
HouzKEY Homeownership Plan
Malaysian citizen
Between 18 to 70 years old
Do not have more than 1 home loan
To improve the success rate of the HouzKEY application, include up to 3 guarantors
Maxihome Flexi Loan & MaxiHome
Eligible for all individuals, salaried employees, and self-employed
Between 18 to 70 years old
Minimum annual income of RM24,000
Maybank Maxihome Ezy
Completed or under-construction property
Property prices of RM100,000 – RM2,000,000
Minimum loan amount of RM50,000 is required
Financing margins of up to 90% are possible
Why should I choose Maybank home loans?
It provides a variety of home loan financing options to suit your needs
Shariah-compliant, based on the principle of Murabahah, has applied for a home loan
Repayment period of up to 35 years or upon the age of 70
Flexibility to withdraw excess payments
MRTA coverage
Competitive interest rates
Who should I contact for further information about Maybank home loans?
Contact Maybank at 1-300-88-6688
Email at mgcc@maybank.com.my
Visit Maybank branches nearby
What are the documents required for Maybank home loans?
MaxiHome
Application form
Copy of NRIC
Copy of passport and Visa/ Work Permit/ employment letter (for non-Malaysian)
Business Registration: Forms 24 and 49
Copy of Sale and Purchase/ booking receipt or Letter of Offer from the developer
