The Affin Bank Personal Loan, offered under Affin Islamic Personal Financing-i, is a Shariah-compliant financing facility with competitive profit rates designed primarily for government employees, GLC staff, pensioners, and salaried individuals. Profit rates range between 3.50% and 5.30% per annum (nominal), which translate into effective annual rates of approximately 6.29% to 6.58%, depending on the loan amount and repayment tenure. These rates are lower than many conventional personal loans in Malaysia, making Affin’s offering attractive for borrowers seeking cost-efficient financing while maintaining compliance with Islamic principles.
The financing amount of Affin Bank Personal Loan is flexible, starting from RM2,500 up to RM250,000, with repayment periods available from 2 to 10 years. Repayments can be made via salary deduction, auto-debit, or standing instruction, ensuring ease and discipline in servicing the loan. Other notable features include no collateral requirement, eligibility for early settlement rebates, and the option to add Takaful coverage for financial protection. With its structured repayment options and competitive pricing, Affin Bank’s Personal Loan provides a reliable solution for Malaysians looking for accessible and Shariah-compliant personal financing.
Affin Bank Personal Loan Rates
What Are the Current Affin Bank Personal Loan Rates?
The current Affin Bank Personal Loan rates, offered under Affin Islamic Personal Financing-i, feature fixed profit rates starting as low as 3.50% per annum and capped at 5.30% per annum, mainly for government and GLC employees. Private sector applicants are generally offered slightly higher rates due to increased credit risk. When factoring in fees such as the mandatory 1.5% salary deduction charge, the effective profit rate (EPR) comes to around 6.29%–6.58% per annum, positioning it among the most affordable Islamic personal financing options in Malaysia compared to conventional loans.
For repayment, Affin Bank provides detailed instalment schedules in its official PDF tables. For example, a RM10,000 financing over 2 years results in a monthly instalment of about RM447.72, while extending the same loan to 10 years reduces the monthly instalment to roughly RM120.81. These fixed monthly repayments offer transparency and predictability, making Affin Islamic Personal Financing-i an appealing choice for borrowers who prefer structured instalments, Shariah compliance, and competitive rates.
Where Can You Download the Affin Bank Personal Loan Instalment Table?
Borrowers can access the official Affin Islamic Personal Financing-i Monthly Instalment Table directly from Affin Bank’s website. The PDF provides a comprehensive breakdown of repayment amounts across different financing values and tenures, making it easier to plan monthly commitments and understand the total cost of borrowing. This table covers profit rates, instalment amounts, and repayment structures for government employees, GLC staff, and eligible applicants. The official document can be downloaded here: Affin Bank Personal Financing-i Payment Table (PDF).
How Does Affin Bank Determine Personal Loan Profit Rates?
Affin Bank sets profit rates based on loan amount, tenure, and borrower profile. Government employees typically receive the lowest rates (3.50% p.a.), while pensioners and private sector workers may qualify for rates up to 5.30% p.a. The bank uses a Tawarruq (commodity Murabahah) model, ensuring Shariah compliance. Variable rates are capped at 15% p.a., though fixed rates are more common for this product.
The bank also considers creditworthiness, income stability, and employment type during underwriting. For instance, a government servant with a minimum salary of RM1,500 qualifies for the lowest rate tier, whereas private sector applicants may need higher income verification.
What Is the Maximum Loan Amount and Tenure Offered by Affin Bank?
Affin Bank provides financing from RM2,500 to RM250,000, with RM5,000 as the minimum for pensioners. The tenure stretches from 2 to 10 years, extendable to age 60 for salaried borrowers or 70 for pensioners. Longer tenures reduce monthly installments but increase total interest costs.
A RM50,000 loan over 5 years at 4.50% p.a. results in a RM943.56 monthly payment, while a 10-year term lowers it to RM518.11. Borrowers should balance affordability with total repayment obligations when selecting tenure.
Who Is Eligible for an Affin Bank Personal Loan?
Eligibility for Affin Islamic Personal Financing-i is open to Malaysian borrowers. Applicants must be Malaysian citizens aged 21 to 58 years at the time of application, with the maximum age extended up to 70 years for pensioners. A minimum monthly income of RM1,500 is required, and government or GLC employees enjoy preferential profit rates due to the stability of their employment. Private sector workers are also eligible, provided they hold confirmed positions, while pensioners and spouses of deceased pensioners can apply under special arrangements.
The documentation requirements vary by employment type. Salaried workers must submit their MyKad, the latest 3 months’ salary slips, recent bank statements, an employer confirmation letter, and EA/B/BE income tax forms. Pensioners are required to provide pension statements, while self-employed applicants must prepare 6 months’ bank statements along with proof of business registration. These requirements ensure that Affin Bank can properly assess the borrower’s repayment capacity while maintaining compliance with Bank Negara Malaysia’s responsible lending guidelines.
What Are the Fees and Charges for Affin Bank Personal Loans?
Affin Islamic Personal Financing-i comes with a transparent fee structure in line with Shariah principles to ensure borrowers are not burdened with hidden costs. The main charges include a 0.5% stamp duty on the approved loan amount, which is a government-mandated fee, and a 1.5% salary deduction fee applicable for repayments made through Biro Angkasa. There are no processing fees and no penalties for early settlement, as customers are entitled to Ibra’ (rebate) on unearned profit if they repay ahead of schedule.
However, borrowers should note that late payments incur a 1% per annum penalty on the overdue instalment amount, not on the entire outstanding balance. For illustration, a RM20,000 loan would incur RM100 in stamp duty, while the salary deduction fee would add about RM300 per year, which is included in the calculation of the effective profit rate. These straightforward charges make Affin Bank’s personal loan more predictable and affordable compared to many conventional alternatives.
How Does Affin Bank Compare to Other Lenders in Malaysia?
Affin Bank compares favorably against many lenders in Malaysia, especially for salaried government and GLC employees. Its profit rates range between 3.50% and 5.30% per annum, making it more affordable than most conventional banks, which often charge between 11.53% and 14.68% per annum for unsecured personal loans. While cooperatives such as Biro Angkasa sometimes offer slightly lower rates of 3% to 4% per annum, Affin Bank stands out by combining competitive pricing with the credibility and stability of a licensed Islamic financial institution.
Another major advantage is the high financing limit of up to RM250,000, which is higher than what many banks and cooperatives provide, making it attractive for borrowers needing larger amounts. Government employees enjoy the best value, as private sector applicants may face slightly higher rates compared to alternatives such as Bank Islam’s 5.18% per annum. Beyond pricing, Affin Bank also differentiates itself through Shariah compliance, flexible repayment tenures of 2 to 10 years, and early settlement rebates (Ibra’), giving borrowers transparency and long-term cost efficiency.
What Are the Repayment Options for Affin Bank Personal Loans?
Repayment options for Affin Islamic Personal Financing-i are structured to ensure convenience and discipline for borrowers. The most common method is salary deduction through Biro Angkasa, which is mandatory for government employees and comes with a 1.5% service fee built into monthly instalments. For private sector borrowers, repayment can be arranged through auto-debit or standing instructions from any Malaysian bank account, allowing flexibility while ensuring payments remain consistent throughout the financing tenure.
Borrowers also have the advantage of early settlement with ibra’ (rebate), where unearned profit is waived, reducing the total cost of borrowing. This means that if a loan is settled before its full tenure—for instance, repaying a 5-year facility in just 3 years—the borrower only pays for the portion of profit already accrued, and the remainder is refunded as a rebate. This system not only encourages responsible financial management but also provides cost savings for those who are able to repay their loan ahead of schedule.
How to Apply for an Affin Bank Personal Loan?
Affin Islamic Personal Financing-i can be applied either online through Affin’s official enquiry form or by visiting a nearby branch. This Shariah-compliant financing under the Tawarruq concept does not require collateral, and repayments are commonly made through salary deduction for eligible employees. The bank assesses applications based on submitted documents and credit checks such as CCRIS and Debt Service Ratio. Processing usually takes a few working days once all documents are complete, with funds disbursed into the borrower’s account upon approval and signing of the agreement.
- Check eligibility and review the Product Disclosure Sheet to understand requirements, fees and obligations
- Prepare necessary documents including MyKad, recent payslips, bank statements and employer confirmation if required
- Submit your application online using the enquiry form or visit a branch to apply in person
- Provide consent for credit checks and confirm the chosen repayment method such as salary deduction
- Wait for the bank to conduct its credit assessment including DSR evaluation and CCRIS record checks
- Review the Letter of Offer once approved and sign the financing agreement with an option to include Takaful coverage
- Receive disbursement of funds into your account once all documents are completed and conditions are fulfilled
What Are the Advantages of Choosing Affin Bank for Personal Loans?
Affin Islamic Personal Financing-i stands out for its low profit rates, which start from just 3.50% p.a. for government and GLC employees, making it one of the most affordable Islamic personal financing options in Malaysia. The facility also offers high financing limits of up to RM250,000, with repayment tenures stretching from 2 to 10 years, providing flexibility for different financial needs. Since the loan is unsecured, no collateral is required, and repayments are automatically deducted from salary, which encourages disciplined financial management. Borrowers can also opt for Takaful coverage, ensuring their debt is protected in case of unforeseen circumstances.
Government servants benefit the most, as their profit rates are often 40–50% lower than those offered by conventional loans, giving them a clear financial advantage. Even private sector employees, while facing slightly higher rates, still gain access to competitive terms compared to other banks such as RHB (around 6.99% p.a.) or CIMB (about 7.88% p.a.). By combining affordability, Shariah compliance, repayment convenience, and optional protection, Affin Bank provides a personal financing package that is both attractive and practical for a wide range of Malaysian borrowers.
Are There Any Drawbacks to Affin Bank Personal Loans?
While Affin Islamic Personal Financing-i offers attractive profit rates and structured repayment, there are several drawbacks to consider. One key limitation is the higher effective rate once additional charges, such as the mandatory 1.5% salary deduction fee, are factored in, which increases the long-term cost of borrowing. Eligibility is also more favorable to government and GLC employees, meaning private sector applicants often face stricter credit assessments and may be offered higher rates.
Another drawback is the minimum loan amount requirement, as financing below RM5,000 is generally not available, which can be inconvenient for borrowers with smaller funding needs. Non-salaried individuals such as freelancers or business owners may also find it harder to qualify due to income verification requirements. While the salary deduction system adds repayment convenience, it limits flexibility for those who prefer manual or alternative payment methods. For smaller amounts or more flexible terms, some borrowers may need to consider cooperatives or licensed moneylenders as alternatives.