Affin Bank Berhad (AFFIN Bank) is a wholly-owned subsidiary of Affin Holdings Berhad that began operations in January 2001 after a merger in August 2000 between the former Perwira Affin Bank Berhad and BSN Commercial (M) Berhad. Affin Bank Berhad also provides a wide range of financial products and services to meet the needs of both retail and corporate customers. AFFIN Bank operates 110 branches in Malaysia, with its main office at Tingkat 17, Menara Affin, No 80, Jalan Raja Chulan, 50200 Kuala Lumpur.
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.
What type of personal loan does AFFIN Bank offer?
AFFIN Bank provides 5 types of personal loans:
AFFIN Islamic Personal Financing-i
AFFIN Smart Money & AFFIN Smart Money-i
AFFIN Amanah Saham Bumiputera Loan
AFFIN Tawarruq Term Financing-i Secured by Securities
AFFIN Solar Financing-i
What are the eligibility to apply for AFFIN Bank personal loans?
The eligibility for individuals to apply for AFFIN Bank personal loans are as follows:
AFFIN Islamic Personal Financing-i
Salaried customers
Pensioners who are part of the Government Pension Scheme A only (also applicable to the pensioner’s widow/ widower who received Pension Derivatives with a minimum entry age of 21 years old)
Government servants
AFFIN Smart Money & AFFIN Smart Money-i
Malaysian citizen
Between 18 to 86 years old
AFFIN Amanah Saham Bumiputera Loan
Bumiputera
Between 18 to 70 years old
AFFIN Tawarruq Term Financing-i Secured by Securities
Single applicant
18 years old and above
Eligible for ASB/ ASB2/ TD-i investor under ASNB guidelines and AFFIN Islamic Term Deposit-i account holder
AFFIN Solar Financing-i
Between 21 to 60 years old
Only applies to landed residential properties that are owner-occupied or have homeownership
Why should I choose AFFIN Bank personal loans?
AFFIN Islamic Personal Financing-i
Financing amount of up to:
Minimum: RM2,500 or RM5,000 (pensioners)
Maximum: RM250,000
Financing tenure up to 10 years, whichever is earlier
Provides both fixed and variable interest rates
AFFIN Smart Money & AFFIN Smart Money-i
The maximum lien financing can be placed at up to 100% of the AFFIN Fixed Deposit (FD) value
Can combine several Fixed Deposit accounts to apply
Maximum financing period up to 10 years
AFFIN Amanah Saham Bumiputera Loan
Maximum financing amount up to RM200,000
The maximum financing period is up to 40 years or upon the age of 70, whichever is earlier
Financing margin:
100% of the nominal value of ASB units
105% including Reducing Term Assurance Unit Trust (ASRTA)
AFFIN Tawarruq Term Financing-i Secured by Securities
Maximum financing amount up to RM200,000
Maximum financing period up to:
0 years or up to age 65 (guaranteed by AITD-i)
40 years or upon the age of 70 (guaranteed by ASB/ASB2)
Base rate: 2.70% p.a.
Financing margin: 100% + 5% for Reducing Term Takaful (RTT)
AFFIN Solar Financing-i
Maximum financing amount up to RM150,000
Maximum financing period maximum up to 10 years
The financing margin can be up to 100% of the total cost (Solar PV System) + 5% of Takaful coverage
What are the benefits I can enjoy from AFFIN Bank personal loans?
AFFIN BANK personal loans can provide you with the following benefits:
Guarantor and Collateral are required (based on types of loans)
This financing is under the Shariah principles of Murabahah (Tawarruq practices)
Takaful coverage is available
Enjoy a rebate for Early Settlement
No Lock-In Period for AFFIN Smart Money
There are other benefits to each type of personal loan that you can enjoy!
What are the documents required for AFFIN Bank personal loans?
N/A.
What are the fees included in AFFIN Bank personal loans?
Certain fees apply, including:
Stamp duty fee
0.5% of the whole amount
Brokerage fee
RM5 per RM1 million on a pro-rate basis
Security document retrieval fee
RM30
Additional financing statement
RM10 per request
Who should I contact for further information about AFFIN Bank personal loans?
For more information or assistance with AFFIN Bank personal loans,
Contact AFFIN Bank Contact Centre: +60382302222
Visit their nearest branch
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.
