Alliance i-Wish Flexi Home Financing-i

Overview

• A flexible Islamic home financing which is linked to the current account.

• Based on the Bai Bithaman Ajil (BBA)* concept which is the sale of goods on a deferred payment basis.

* Bai Bithaman Ajil (BBA) is shariah concept sale contract based on deferred payment at certain price.

Benefits

• No set up or monthly maintenance fee.

• Deposits in the Mudharabah current account will be set-off against the financing outstanding principal for profit charge calculation. Earn profits as well on the deposits itself.

• Cheque book and ATM card for easy withdrawals from the deposit linked account.

• Refinancing from a conventional loan to Islamic financing entitles customer to a full waiver on the stamp duty.

• New purchases, sub-sale, top up, unencumbered property financing entitles customer to a 20% waiver on the stamp duty.

• Rate protection from the Base Financing Rate (BFR) increase with capped ceiling rates.

Terms & Conditions

• Interest rate : Variable rate pegged to SBR

• Tenure : Up to 35 years / 70 years of age

• Age requirement : 21 years old and above

• Minimum loan amount : RM100,000

• Margin of Financing (MOF) : Up to 90% + 5% Mortgage Reducing Term Takaful (MRTT) and / or Financed Entry Cost

• Max MOF 70% for Cashline Facility-i.

Financing Type

• Completed or under-construction property

• Sub-sale

• Top up financing

• Refinancing from another bank with or without cash out

• Unencumbered property financing


NOTE: Please be advised that the product mentioned above may change from time to time, as the market and industry evolve.

To find out more about Alliance i-Wish Flexi Home Financing-i, please call Alliance Bank Contact Centre at 603 5516 9988, or visit the nearest Alliance Bank branch today.

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