Alliance Bank Personal Loan

Alliance Bank is a multinational bank with 60+ Branches. They offer 11 different Credit Cards, 2 Personal Loans and 1 Mortgage. Formed in 2001, Alliance Bank has emerged to be the Best SME Bank at the Asian Bank Excellence in Retail Financial Services International Awards in 2015. The bank is committed in providing unified financial services from investments, consumer banking, business banking solutions and Islamic banking in order to deliver the best customer banking experience.

In 2001, the Alliance Banking Group, also known as the Alliance Financial Group, was formed after a successful merger of seven financial institutions. Merged entities were introduced to the public as the Alliance Banking Group which constitutes Alliance Bank Malaysia Berhad or the Alliance Bank, Alliance Unit Trust Management Berhad, Alliance Merchant Bank Berhad and Alliance Finance Berhad.

This dynamic and integrated financial services group offers an end-to-end financing solution through various segments such as Business Banking, Consumer Banking, Investment Banking and Islamic Banking. They continue to grow and expand by providing a wide range of financial products and services which include credit cards, personal loans, home loans, hire purchase and more!

Compare Personal Loans by Alliance Bank Malaysia

About the loan

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Benefits & Features

  • Low monthly instalments
  • Flexible financing tenure (up to 7 years)
  • No Processing Fee
  • No Early Settlement Fee
  • No guarantor or collateral required
  • Fast Approval
  • Easy Repayment via allianceonline

Interest Rates

  • 8.38% to 14.78% (flat rate)

Fees and Charges

  • Stamp Duty (0.5% on total loan amount)
  • Late Payment Fee (1% p.a.)

Eligibility

  • Malaysian OR Permanent Residents working and residing in Malaysia
    • Malaysians working in Singapore but residing in Malaysia will be considered
  • Aged 21 years to 60 years (by loan maturity)
  • Minimum monthly income of RM3,000 (or RM36,000 p.a.)

Required Documents

  • NRIC
  • Latest statement of salary crediting account
  • Latest 3-month payslip or EA form or  6-month EPF statement or BE form with receipt

Self-Employed:

  • All the above AND
    • Business Registration Card (at least 2-years in business)
    • Latest 6-month company principal bank statement
    • Latest B form together with receipt to LHDN

  • Benefits & Features
  • Monthly instalments from as low as RM94
  • Flexible financing tenure (up to 7 years)
  • No Processing Fee
  • No Early Settlement Fee
  • No guarantor or collateral required
  • Fast Approval
  • Easy Repayment via IBG/IBFT

Interest Rates

  • 8.38% to 14.78% (flat rate)

Fees and Charges

  • Stamp Duty (0.5% on total loan amount)
  • Late Payment Fee (1% p.a.)

Eligibility

  • Malaysian OR Permanent Residents working and residing in Malaysia
    • Malaysians working in Singapore but residing in Malaysia will be considered
  • Aged 21 years to 60 years (by loan maturity)
  • Minimum monthly income of RM3,000 (or RM36,000 p.a.)

Required Documents

  • NRIC
  • Latest statement of salary crediting account
  • Latest 3-month payslip or EA form or  6-month EPF statement or BE form with receipt

Self-Employed:

  • All the above AND
    • Business Registration Card (at least 2-years in business)
    • Latest 6-month company principal bank statement
    • Latest B form together with receipt to LHDN

Alliance Bank is a Malaysian bank that offers end-to-end financing solutions for its customers such as personal loans. They also provide other services to its users through its several subsidiaries such as investments and Islamic banking.

No, you do not. It is optional and can offset loan balances in the event of disabilities or death.

If you are a Malaysian or a permanent resident currently residing and working in Malaysia, earning a minimum income of RM3,000 per month and is aged 21 years and above, then yes.

Yes, you can. You are required to send a 3-month written notice or pay a 3-month interest rate without the notice. You will also receive a rebate that is calculated using the Rule 78 formula.

The Shariah concept applicable is Tawarruq. It consists of two sale and purchase contracts, which the bank will enter into an arrangement with the customer.

You will be imposed a Late Payment Charged. If late payment is before maturity, then a 1% charge will be imposed. If late payment is after maturity, a rate depending on the Islamic Inter-bank Money Market will be imposed.

Yes, you will receive Ibra’ if there is early settlement, either through full payment, restructuring, or early termination. It will be calculated using Rule 78.