Home Loan

• Individual Malaysian citizens. Married couples to submit joint applications.
• Aged 18 & above.

a) Completed residential properties with permanent Certificate of Fitness

• Landed - Klang Valley , Penang / Seberang Prai, Sg. Petani, Kulim, Seremban, Johor Bahru, Batu Pahat, Ipoh, Kuantan, Malacca Town, Kota Kinabalu and Kuching Town.
• Non-landed e.g. apartments, condominiums & townhouses - Penang Island & Klang Valley only.

Note:
(i) For leasehold land, the unexpired land lease must exceed 30 years upon maturity of the loan tenure.
(ii) Exclude financing of service apartments and residential properties with restriction in interest, Bumi Lot (with restriction to sell / transfer to non-bumi), located at landslip / flood prone area and T-junction as well as auctioned properties.

b) Under construction residential properties developed by :

Note : AIA can only finance projects not under the developers interest bearing scheme (DIBS)

• Minimum Loan : RM100,000.

AIA FIXED RATE HOME LOAN

* Other Terms and Conditions apply.

Benefits

Low Long Term Fixed Rates
Home owners are now expected to make higher payments for their home loans due to such increase in the BLR. With AIA Fixed Rate Home Loans, you can now enjoy security and peace of mind during the entire loan tenure.

Zero Moving Costs Feature
Lesser the burden of financing or refinancing without having to pay for any legal fees, stamp duty, disbursement and valuation fees for the loan documentations. You may also have the benefit of instant savings on your monthly installments by switching your existing home loan to AIA.

Value Added Features
Other than the conventional MRTA, you can now choose among many home loan insurance with some that generates guaranteed cash savings and protection or one that yields investment returns for retirement and protection.

Flexibility
An often overlooked aspect of our packages is the flexibility in making additional payments. AIA fixed rate packages is calculated at daily interest to allow borrowers to offset the capital with minimum restriction.

Real Capital Gains
As the value of your property appreciate over time, fixed the cost of interest payable over time as well to maximize your net capital gains.

• MOF is based on Open Market Value (OMV) or purchase price whichever is lower for new purchase.
• OMV shall be based on the valuation report prepared by AIA panel of valuers.

* Note: Exceptions can be considered on a case by case basis.
MOF is subject to the discretion of AIA Bhd.

• Up to 40 years or age 65 whichever is earlier.

• For employed category
  • Monthly instalment and other loan repayments must be within 50% for single applicant's monthly income.
  • Monthly income for employees is defined as basic salary with fixed allowances and does not include part-time income, sales commission or non-contractual bonus or rental income.
• For self-employed category
  • Monthly instalment and other loan repayments must be within 50% of the applicant(s)' monthly income based on average three (3) years declared income Form J(1).
  • The business established for at least five (5) years and operating profitability for the past three (3) years.
  • Income substantiated with income tax form J(1) and financial statements.
  • Average monthly income will be based on three (3) years declared income in the income tax Form J(1).

• Lock-in period: 5 years from the date of 1st drawdown.
• A prepayment fee of 0.35% or such higher rate as shall be imposed by AIA at any time or from time to time is chargeable on the prepaid amount based on the remaining tenure of the loan in years subject to a minimum of 2% and a maximum of 4% of the amount prepaid if the loan is refinanced within 5 years from the date of first drawdown. The prepayment fee will be waived after the expiry of the 5 years from the 1st drawdown of the loan facility.
• There will be no prepayment fee imposed if prepayment is done via own savings, Employee Provident Fund (EPF) withdrawal and/or sale of property except for refinancing.
• For Zero Moving Cost package, you will also be required to reimburse AIA for all fees, costs and expenses whatsoever including but not limited to valuation fees, stamp duties and legal costs on a solicitor and client basis incurred by AIA in connection with the loan in the event the loan is refinanced or fully settled within 5 years from the date of the 1st drawdown.

• Acceptance of offer letter must be executed within 48 hours and loan documentation has to be executed within 5 working days from the date of acceptance in order to be eligible for the zero moving cost package.
• A cancellation fee of 3% on the loan amount will be imposed if loan is aborted after acceptance.
• Appointment of loan documentation solicitor and valuers is solely at the discretion of AIA Mortgage Loan Division.

• Houseowner Insurance
• All loans must be adequately protected by AIA Group Mortgage Reducing Term Assurance or AIA life policies (Life, Term or combination) on the total loan amount.
• Valuation reports and loan documentation are to be handled by AIA’s panel valuers and solicitors.
• All packages are for a limited period only and are subject to change.

Important: This is purely a product summary and shall under no circumstances be used or deemed as an offer to sell nor shall it be taken as a form of professional advice of any manner. Please contact us at 1-300-88 1899 for more information.