Chapter 11: Personal loans offered by AmBank (M) Berhad

AMBANK (M) BERHAD

A.    AmBank Islamic AmMoneyLine Facility-i

1.      Total finance: RM2000 - RM100000

2.      Finance period: 12 - 60 months

3.      Profit rate: 8.0% p.a - 9.99% p.a

4.      Salary eligibility: Gross salary RM3000 per month or RM36000 per year

5.      Eligibility requirements:

·         Citizen of Malaysia.

·         Aged 21 years to 60 years.

·         Monthly income of RM3,000 and above or annual income of RM36,000 and above.

·         Not blacklisted by AEON or any Bank in Malaysia.

·         No Account Under Special Observation (SAA).

·         Not under AKPK.

Ø  For the self -employed

·         Have a company registered with the Companies Commission of Malaysia (SSM) for 2 years or more.

6.      Required documents:

Ø  Fixed Salary

·         Copy of Identity Card (MyKad) front and back.

·         One of the documents: 1 month latest salary slip, or - Latest EPF Statement, or - Form BE with tax payment receipt, or - Latest EA Form.

Ø  Non-Fixed Salary (commission and overtime)

·         Copy of Identity Card (MyKad) front and back.

·         Copy of 3 months latest salary slip.

·         Copy of 6 months latest bank statement.

·         Copy of latest EPF statement.

·         Form B/BE with tax payment receipt.

·         Latest EA form.

Ø  Full Commission Recipient

·         Copy of Identity Card (MyKad) front and back.

·         Copy of 6 months commission statement.

·         Copy of 6 months latest bank statement.

·         Form B/BE with tax payment receipt.

Ø  Self-employed

·         Copy of Identity Card (MyKad) front and back.

·         Copy of Company Registration Certificate.

·         Copy of the company's latest 6 months bank statement.

·         Copy of Form B from the Inland Revenue Board (IRB).

·         Copy of latest EPF statement.

*The requirements for this document may change based on your qualifications. In some cases, AmBank Islamic may request additional documents if necessary.

7.   Charge imposed:

·         No processing fees.

·         Only a stamp duty charge of 0.5% of the loan amount passed.

·         No early termination charges. You only need to inform AmBank Islamic a month before you want to make an early termination.

·         AmBank Islamic also gives you the option to take out insurance coverage “Reducing Term Takaful (RTT) as protection if there is an arrear on your loan. This insurance coverage is optional and not mandatory.

·         Other charges imposed are late payment charges of 1% of the total arrears.

 

B.     AmBank AmMoneyLine Personal Loan

1.      Total loan: RM2000 - RM100000

2.      Loan period: 12 - 60 months

3.      Profit rate: 8.0% p.a - 9.99% p.a

4.      Salary eligibility: Gross salary RM3000 per month or RM36000 per year

5.      Eligibility requirements:

·         Malaysian.

·         Aged 21 to 60 years.

·         Monthly income of RM3,000 and above or annual income of RM36,000 and above.

·         Not blacklisted by AEON or any Bank in Malaysia.

·         No Accounts Under Special Observation (SAA).

·         Not under the auspices of AKPK

Ø  For the self -employed

·         Have a company registered with the Companies Commission of Malaysia (SSM) for 2 years or more.

6.      Required documents:

Ø  Fixed Salary

·         Copy of Identity Card (MyKad) front and back.

·         One of the documents: 1 month latest salary slip, or - Latest EPF Statement, or - Form BE with tax payment receipt, or - Latest EA Form.

Ø  Non-Fixed Salary (commission and overtime)

·         Copy of Identity Card (MyKad) front and back.

·         Copy of 3 months latest salary slip.

·         Copy of 6 months latest bank statement.

·         Copy of latest EPF statement.

·         Form B/BE with tax payment receipt.

·         Latest EA form.

Ø  Full Commission Recipient

·         Copy of Identity Card (MyKad) front and back.

·         Copy of 6 months commission statement.

·         Copy of 6 months latest bank statement.

·         Form B/BE with tax payment receipt.

Ø  Self-employed

·         Copy of Identity Card (MyKad) front and back.

·         Copy of Company Registration Certificate.

·         Copy of the company's latest 6 months bank statement.

·         Copy of Form B from the Inland Revenue Board (IRB).

·         Copy of latest EPF statement.

*The requirements for this document may change based on your qualifications. In some cases, AmBank may request additional documents if necessary.

7.   Charge imposed:

·         No processing fees.

·         Only a stamp duty charge of 0.5% of the loan amount passed

·         No early termination charges. You only need to inform AmBank a month before you want to make an early termination.

·         AmBank also gives you the option to take out Reducing Term Assurance (RTA) insurance coverage if there is an arrear on your loan. This insurance coverage is optional and not mandatory.

·         Other charges imposed are late payment charges of 1% of the total arrears.

 

C.    AmBank Islamic Personal Financing-i

1.      Total finance: RM5000 - RM200000

2.      Finance period: 24 - 120 months

3.      Profit rate: 4.35% p.a - 7.90% p.a

4.      Salary eligibility: Gross salary RM1500 per month or RM18000 per year

5.      Eligibility requirements:

Ø  General requirements

·         Malaysian.

·         Aged 18 to 60 years.

·         Earning RM1,500 per month (or more) or RM18,000 per year (or more).

·         Not blacklisted by AEON or any Bank in Malaysia.

·         No Accounts Under Special Observation (SAA).

·         Not under the auspices of AKPK.

Ø  Requirements for government employees

·         Employment status is fixed.

·         Served more than 3 months of service.

Ø  Requirements for GLC staff and private staff

·         Worked more than 3 months.

·         Worked in a company listed by AmBank Islamic.

6.      Required documents:

·         3 copies of front and back identity card (MyKad) certified by the head of department/company.

·         Copy of 1 month latest salary slip.

·         2 copies certified by the head of department/company for each salary slip; or 3 copies for online pay slip (e-pay).

·         Copy of bank statement or bank book in which the loan money will be deposited.

7.      Charge imposed:

·         The 0.5% stamp duty charge is deducted from the loan amount passed.

·         Processing charge of RM10.00 for approval letter.

·         The Space Services Bureau (BPA) charges a monthly fee of 2% of the monthly fee.

·         Takaful Contribution from AmMetLife Takaful Berhad - depends on the amount of financing, duration of financing and age of the customer (where applicable).

·         Late payment charge 1% of the total loan balance in the event of late payment.

*AmBank Islamic does not charge an early termination fee, in fact AmBank Islamic will provide a rebate if you settle your loan earlier than the contract date.

 That's all for now~ See you in the update😍