Alliance Home Financing-i
Introducing No-Frills Islamic Home Financing.
Own your home the Shariah-compliant way with no setup fees.
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Description
- A no-frills basic Islamic home financing which is a Shariah compliant product.
- Based on the Shariah contract of Murabahah via Tawarruq (also known as Commodity Murabahah). Murabahah refers to the sale and purchase of an asset where the acquisition cost and the markup are disclosed to the purchaser. Tawarruq refers to purchasing an asset at a deferred price and then selling it to a third party to obtain cash. The Bank will use the cash obtained from the Tawarruq transaction to pay for the purchase of your desired property.
Features
- Long financing tenure based on your affordability.
- May be used to refinance an existing home financing facility.
- Transparency on your maximum payment obligation as the profit rate is capped at a ceiling profit rate.
| Features | Terms |
|---|---|
| Profit Rate | Variable rate pegged to Standardised Base Rate |
| Tenure | Up to 35 years / 70 years of age |
| Age Requirement | 21 years old and above |
| Margin of Financing |
|
| Financing Type |
|
Effective financing rate for a 30-year home financing of RM350,000
|
Product Produk |
Financing amount Amaun pembiayaan |
Financing tenure Tempoh pembiayaan |
Effective financing rate Kadar pembiayaan efektif |
Effective date Tarikh efektif |
|---|---|---|---|---|
|
Home Financing Pembiayaan Perumahan |
RM350,000 | 30 years / tahun | 4.36% p.a. | 10 May 2023 |
This effective financing rate is subject to change from time to time.
Kadar pembiayaan efektif ini adalah tertakluk kepada perubahan dari semasa ke semasa.
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