Alliance Bank Personal Loan

About Alliance Bank

Alliance Bank Malaysia was established in 1958, with its first branch located in the Selangor Kwangtung Association Building on Jalan Pudu in Kuala Lumpur. Alliance Bank Malaysia and its subsidiaries provide banking and financial services through consumer banking, SME banking, corporate and commercial banking, Islamic banking, investment banking, and stockbroking.

Alliance keeps committed to providing the best customer experience while creating long-term shareholder value.

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 Alliance offer?

Alliance provides 2 types of personal loans:

  • CashFirst Personal Loan (conventional)
  • CashVantage Financing-i (Islamic)

What are the eligibility to apply for Alliance personal loans?

The eligibility for individuals to apply for Alliance personal loans are as follows:

  • Malaysians working and residing in Malaysia
  • Between 21 to 60 years old (upon maturity of the facility)
  • Monthly income of RM3,000 to RM36,000

Why should I choose Alliance personal loans?

  • You can have fixed monthly instalment
  • Shariah-compliant personal financing loans are available
  • The minimum and maximum loan/ financing amounts you can receive are between RM5,000 and RM150,000
  • You can get tenure from 1 to 7 years
  • A low-interest rate ranges from 3.99% to 14.78% p.a. (flat-rate)

There are numerous other reasons you should choose Alliance personal loans.

What are the benefits I can enjoy from Alliance personal loans?

Alliance personal loans can provide you with the following benefits:

  • No processing fees
  • No guarantor or collateral is required
  • Personal financing that is Shariah-compliant is available
  • The application can be approved in 10 minutes (initial loan/ financing)
  • Disbursement within 24 hours
  • You can apply at any time, and anywhere you want

What are the documents required for Alliance personal loans?

When applying for Alliance personal loans, the following documents are required:

  • Copy of your MyKad (both sides)
  • Copy of Disbursement Account statement or first page of passbook
  • Latest 3-month salary slip
  • Latest 3-month EPF statement
  • Latest EA Form
  • Latest BE Form with the tax payment receipt

What are the fees included in Alliance personal loans?

Certain fees apply, including:

  • Stamp duty fee: 0.5% of the total approved financing amount
  • Late payment fee: 1% of total arrears amount.
  • Brokerage fee: Currently borne by the bank

Who should I contact for further information about Alliance personal loans?

For more information or assistance with Alliance personal loans,

  • Call Alliance Bank Customer Service Centre at +60355169988
  • Visit any Alliance Bank branch nearest to you
  • Visit Alliance Bank official website

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.