Home Loan : Terms and Conditions

1. Who can apply?

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

2. Types of properties financed

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 :

Developer	Projects
A & M Realty	Kemuning Shah Alam, Putri Subang, Kemuning Greenhills 2 Shah Alam, Amverton Park @ Kemuning Country Resort
Bolton Berhad	Lake Vista @ Taman Tasik Prima Puchong
Boustead Properties Bhd	Mutiara Damansara
Bukit Hitam Dev. S/B	Bandar Bukit Puchong 2
Capital Land S/B	Puchong Hartamas, Cheras Hartamas
Daiman Development Bhd	Taman Gaya (JB)
Dijaya Corp Bhd	Villa Green 3A
DNP Holding	Sering Ukay-Hulu Kelang
DRB-Hicom	Glenmarie Cove Klang, Glenmarie Residences Shah Alam, Glenhill Shah Alam, Mutiara Tropicana, Kota Raja Shah Alam, Glen Park @Glenmarie
Faber Group / Rimbunan Melati S/B	Laman Rimbunan, Kepong
First Nationwide Group	Seri Utama, Kota Damansara, Bandar Utama, Bukit Utama
Gadang Holdings Berhad	Taman Seri Bukit Segambut (KL)
Gamuda Berhad	Valencia, Kota Kemuning (including condo/apt) & Ambang/Bandar Botanic Klang, Jade Hills (Kajang), Vistaria Residences, Horizons Hills @ Nusajaya Johor
Glomac	Aman Suria Damansara, Lakeside Residences-Puchong
Golden Quantum Acres Sdn Bhd	Desa Putra (Condo)
Hap Seng Bhd	D'Alpinia @ Klang Valley
Hillcrest Garden	Taman Puchong Utama
Hong Leong/Sabna	Bukit Rahman Putra
Huatland Development Sdn Bhd	Taman Esplanad Bukit Jalil
Hunza Properties	Alila Tanjung Bungah, Penang & Alila Horizons (condo), Mutiara Seputeh
Ibraco Berhad	Heights North (Kuching), Heights Estate (Kuching)
I & P	Bandar Kinrara Puchong, Taman Setiawangsa, Bayu Emas Klang, Alam Impiana Shah Alam, Alam Sari Bangi
IGB Corp Bhd	Tanamera, Seri Maya Condo, Sieramas West, Hampshire Place Luxury Residences, Cendana (KL), One Jelatek Condo
IJM Properties Sdn Bhd	Bukit Manda’rina-Cheras, Taman Idaman-Butterworth, BaysWater Condo-Penang, Riana Green (Wangsa Maju KL), Bayu Segar (Cheras), Bayu Sri Bintang, Serenia Gardens, The Spring Condo (Penang), Laman Baiduri (Subang Jaya)
IOI Properties Berhad	Bandar Puteri Puchong (including condo/apt), Sunrise Garden Condo/Desaria, D’Cahaya Apt, Puteri Palma 2 (Putrajaya), Bandar Putra Kulai (JB), Vistaria Residences
Keck Seng (M) Bhd	Taman Daya (JB)
KLGCC Berhad	East 12 KLGCC
KSL Holdings berhad	Taman Bestari Johor, Taman Bestari Indah (Johor)
Kumpulan Guthrie Berhad	Bukit Jelutong, Denai Alam
Loh & Loh	Riverview Kemensah (Taman Melawati)
Lum Chang	Twins Palms (Sungai Long)
Mah Sing Group Bhd	Damansara Lagenda, Aman Perdana, Austin Perdana (JB), Perdana Residence Selayang, Kemuning Residence Shah Alam, One Residence Cheras, Sierra Perdana
Malton Bhd	Bukit Rimau, Li Villas II (condo), Mutiara Puchong, Mutiara Indah
Mutiara Goodyear	Taman Lagenda Mas 2B & 2A-Cheras, Mutiara Upper East-Ampang (condo), Mutiara Gombak
Negara Properties (M) Bhd	3 Residen @ Melawati
OSK Property Holdings	Bayan 28 Country Heights, Damansara Sutera
Paramount Corp	Kemuning Utama, Bandar Laguna Merbok (Sg. Petani), Taman Seri Murni (Sg Dua Butterworth)
Pelangi Group	Taman Pelangi Indah, Impian Emas, Taman Sutera Utama (JB)
Perdana Parkcity S/B	Desa Parkcity
Petaling Garden Berhad	Bandar Baru Seri Petaling
Plenitude Bhd	Taman Putra Prima Puchong, Taman Desa Tebrau (JB), Changkat Kiara, Changkat View (Condo)
PJ Development Holdings Group	Duta Kingsbury @ Dutamas
Putrajaya Holding	Precincts 9, 10, 14, 16 & 18
Rimbunan Melati Sdn Bhd	Laman Rimbunan, Kepong
RB Land Sdn Bhd	Seremban 2, The Boulevard Subang Jaya (condo), Baiduri 10 (Subang Jaya),
Selangor Dredging	AmanSari 18 Puchong, Ameera Condo (SS2 PJ), 20 Trees Tmn Melawati (landed units only)
SHL Consolidated Bhd	Admiral Park , Greenview Residence (Condo) – Bdr Sg. Long, Alam Budiman, Palm Walk @ Bdr Sg Long
Sime Darby	Ara Hills
SIME-UEP	Ara Damansara, Putra Heights, USJ-Subang Jaya, Bandar Bukit Raja
SP Setia	Setia Indah, Bukit Indah, Setia Tropika (JB), Bandar Setia Alam, Duta Tropika, Setiahills Ampang , Setia Eco Park, Setia Sky Residences, Setia Pearl Island (Penang)
S. J. Properties Sdn Bhd / SPK	Cahaya SPK
SPPK	Alam Damai Cheras, Alam Sutera Bukit Jalil, Seri Beringin Damansara Heights
Sunrise Berhad	Mont Kiara Aman, Mont Kiara Banyan, Mont Kiara 10 (condo)
Sunway City Bhd	Sunway SPK Damansara, Sunway Kayangan Shah Alam, D’Villa Damansara, Opal Damansara, Sunway Rahman Putra, Laman Impian Garden Villas, Sunway Damansara, PJ-Sunway Damansara, Kiara Hills, Sunway Cheras, Sunway Suria, Suncity Bukit Gambier, Challis Damansara
TA Properties S/B	Damansara Idaman, Idaman Villa @ Damansara
Tanming Bhd	Tmn Taming Indah-Sg Long, Tmn Seri Tanming-Cheras, Tmn Taming Maju- Cheras, Tmn Meranti Jaya-Puchong, Taman Sri Minang Cheras, Tiara Bungalow @ Bdr Mahkota Cheras
UDA Holding	Bandar Tun Hussein Onn-Cheras, Taman Sutera II (Seberang Jaya), Tati Kristal (Teluk Air Tawar), Sinaran TTDI (PJ), Gaya Bangsar Condominium
UM Land	Suasana Sentral The Loft, Suasana Bangsar (condo)
WCT	Bukit Tinggi I, II, III & Bandar Parkland
YTL	Lake Edge Puchong & Lake Field Sungai Besi, The Saffron @Sentul East, Midfields Sungai Besi

3. Maximum / Minimum Loan Financed

• Minimum Loan : RM100,000.  

4. Interest Rate

A unique housing loan package that offers the following options:-

AIA HOME LOAN PACKAGES	Interest Rates
	LOAN TO VALUE (LTV)More than 80% to 90%	LOAN TO VALUE (LTV)80% and BELOW
Package 1 (Zero Moving Cost -ZMC)	6.35% Fixed for entire loan tenure	6.25% p.a. Fixed for entire loan tenure
Package 2 (Non Zero Moving Cost)	5.99% Fixed for entire loan tenure	5.89% Fixed for entire loan tenure
Minimum Loan Amount: RM 100,000

Important Note : -

• All the above packages are applicable for both under construction and completed properties except for Package 4.
• Loan To Value is also referred as the margin of financing (ie. the percentage of loan over the current market value/purchase price)

Benefits

• Flexible prepayment - No prepayment fee will be levied if prepayment is from own savings, Employees Provident Fund or if existing loan is replaced simultaneously by another loan from AIA for the purchase of another residential property for own occupation.
  
• Guaranteed fixed interest rate for the entire loan period or up to 30 years. Absolutely no fluctuations in interest rate. The one opportunity to lock in at these fantastic low fixed rates for up to 30 years.
  
• Assured financial planning and peace of mind. Fixed monthly repayment helps to plan and chart a clearer financial planning for the family as housing loan instalment is one of the highest loan commitments in the family.
  
• $ Daily Interest - Loan calculation based on daily interest.
  
• Definition of zero moving costs - Zero moving cost are fees that will be borne by AIA which includes only valuation fees, professional legal fees, stamp duty, discharge and disbursements (such as registration fees, land office and bankruptcy searches.) Other fees such as administration charges by developers etc are excluded.

5. Margin of Financing (MOF)

• 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.

	Landed Properties	Non-landed Properties
New Purchase (Up To) Refinancing (Up To)	90%* 80%*	80%* 80%*

6. Loan Tenure

• Up to 30 years or age 60 whichever is earlier.
  

7. Loan Eligibility

• For employed category

(i) Monthly instalment and other loan repayments must be within 38% for single applicant's monthly income.

(ii) 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

(i) Monthly instalment and other loan repayments must be within 33% of the applicant(s)' monthly income based on average three (3) years declared income Form J(1).

(ii) The business established for at least five (5) years and operating profitability for the past three (3) years.

(iii) Income substantiated with income tax form J(1) and financial statements.

(iv) Average monthly income will be based on three (3) years declared income in the income tax Form J(1).

8. Prepayment Fee

• There will be a pre-payment fee levied should the loan be refinanced within the first five (5) years from the date of first drawdown.

Prepayment fee can be waived if settlement or partial settlement is from own savings, EPF or sale of property.

The prepayment fee is chargeable at a rate of 0.35% times the number of remaining years of loan (not exceeding 4% but subject to a minimum rate of 2%) times the amount prepaid.

All the conditions regarding prepayment fee as stated above is excluding Package 1 (Zero Moving Cost Package)

9. Specific Terms & Conditions for Zero Moving Cost Package

• A prepayment fee of 3% of the approved loan amount will be levied if the loan is settled within 5 years from the date of 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.

10. Other Terms and Conditions

• 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.

Home Loan FAQs
Guide to chosing a Home Loan
Home Loan Contact Information

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.

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