The AmBank Personal Loan Table is an official repayment schedule that shows the monthly instalments for different loan amounts and tenures. It helps borrowers in Malaysia evaluate affordability before applying. It outlines fixed monthly repayments based on approved profit rates, covering financing amounts between RM5,000 and RM200,000 with repayment periods from 2 to 10 years. By presenting structured figures, the table gives borrowers a clear view of how their choice of loan amount and tenure affects monthly commitments and total repayment costs.
This repayment table is especially important for financial planning because it provides transparency on the actual amount payable, including the profit rate charged under AmBank’s Shariah-compliant Personal Financing-i structure. For instance, a RM50,000 loan over 5 years at a profit rate of 4.25% per annum translates into monthly payments of about RM926. These figures are consistent with AmBank’s official PDF repayment schedules and online calculators, ensuring borrowers have accurate and reliable information when deciding on the most suitable loan package.
AmBank Personal Loan Table
What Are the Current Interest Rates for AmBank Personal Financing-i?
The current interest rates for AmBank Personal Financing-i are offered as fixed profit rates between 4.25% and 4.45% per annum, depending on the borrower’s eligibility and employment sector. When calculated on an effective annual basis, this translates to 7.51% to 8.32% p.a., reflecting the impact of amortization on total repayment costs. Typically, government employees and selected professionals qualify for the lower end of the range, while private-sector applicants may be offered slightly higher rates. Although third-party financial comparison sites like RinggitPlus sometimes promote lower indicative rates (e.g., 3.35% p.a. for certain categories), AmBank’s official website confirms that the official range remains 4.25%–4.45% p.a. under its Personal Financing-i package.
This financing is structured under the Murabahah Tawarruq concept, ensuring compliance with Shariah principles by basing the transaction on actual asset purchases rather than interest-bearing debt. For example, a RM30,000 loan over 4 years at 4.25% p.a. would result in a total repayment of about RM34,272, with fixed monthly instalments of roughly RM714. Borrowers can verify these repayment amounts directly through AmBank’s official repayment table PDF or by consulting branch representatives, ensuring full transparency before committing to the loan.
How Does the AmBank Personal Loan Repayment Table Work?
The repayment table breaks down monthly instalments by loan amount (RM5,000–RM200,000) and tenure (24–120 months). Each cell in the table displays the fixed payment, incorporating principal and profit. For instance, a RM10,000 loan for 3 years (36 months) at 4.25% p.a. requires RM295 monthly, totalling RM10,620.
Borrowers should note the table excludes processing fees (RM10) and stamp duty (0.5% of the loan amount). The figures assume on-time payments via salary deduction for government staff or direct debit for private employees. Early settlements qualify for rebates (Ibra’), reducing the total cost.
What Loan Amounts and Tenures Are Available?
AmBank offers financing from RM5,000 to RM200,000, with tenures spanning 2 to 10 years. Larger amounts like RM200,000 require longer terms (e.g., 120 months) to keep instalments manageable. A RM100,000 loan over 7 years at 4.45% p.a. would incur RM1,417 monthly, totalling RM119,028.
Eligibility depends on income (minimum RM1,500/month) and employment status (permanent roles with 3+ months tenure). Government and GLC employees often access higher amounts due to secure salary deductions via ANGKASA (BPA). Private-sector applicants may face stricter limits.
What Are the Eligibility Criteria for AmBank Personal Financing-i?
Eligibility requires Malaysian citizenship, age 18–60, and a minimum gross income of RM1,500/month. Government, statutory body, and selected private-sector employees qualify. Permanent employment of at least 3 months is mandatory, with salary slips and NRIC as proof.
Private-sector applicants must provide additional documents like EPF statements or bank records. The BPA salary deduction mechanism streamlines approvals for public-sector staff, while others rely on conventional bank transfers.
What Fees and Charges Apply to AmBank Personal Loans?
Fees include a RM10 processing fee, 0.5% stamp duty (capped at RM500), and a 2% auto-deduction charge for BPA users. Late payments incur a 1% penalty monthly on overdue amounts. No early settlement penalties exist, and rebates apply for partial or full prepayments.
For a RM50,000 loan, stamp duty would be RM250. The 2% BPA fee (RM1,000) is deducted from the disbursed amount, reducing the received sum to RM49,000. These costs are detailed in AmBank’s Product Disclosure Sheet.
How Does the Application Process Work?
Applications require submitting a completed form, NRIC, and latest payslip. Government employees apply through ANGKASA, while private-sector borrowers visit branches or apply online. Approval takes 48 hours to 3 business days for complete submissions.
Successful applicants receive funds via direct bank transfer or BPA deduction setup. Private-sector approvals may require further verification, extending processing times. Optional Takaful coverage can be added during application.
Where Can Borrowers Access the Official Repayment Table?
The official repayment table is available as a PDF on AmBank’s website under the Personal Financing-i section. It lists all combinations of amounts and tenures with corresponding monthly payments. For mobile-friendly access, borrowers can request a printed copy at branches or use third-party calculators adjusted to AmBank’s rates.
The PDF includes effective profit rates and annual percentage rates (APR) for transparency. For example, the 4.25% p.a. rate over 5 years shows an APR of 7.51%, reflecting the compounding effect.
Are There Alternatives to AmBank Personal Financing-i?
Competitors like Maybank, CIMB, and RHB offer similar products with varying rates and terms. Maybank’s Personal Financing-i has rates from 3.85% p.a., while CIMB’s starts at 4.39% p.a. Borrowers should compare total repayment amounts, not just nominal rates, to determine cost-effectiveness.
AmBank’s 3-month deferment and high payout ratio (99.5%) differentiate it from peers. However, private-sector applicants may find better terms elsewhere if they lack BPA salary deductions.
How Does Early Settlement Affect Loan Repayment?
Early settlement triggers an Ibra’ (rebate) under Shariah principles, reducing the total profit charged. The rebate calculation depends on the remaining tenure and original profit rate. For a RM20,000 loan settled 12 months early, the rebate could save approximately RM800.
Borrowers must notify AmBank in writing to initiate early closure. The bank recalculates the outstanding balance, deducts the rebate, and provides a final payment figure. No penalties apply, aligning with Islamic finance standards.
What Security Features Does AmBank Personal Financing-i Offer?
The product requires no collateral or guarantor, relying on salary deductions or direct debits for repayment security. Optional Takaful coverage protects against disability or death, ensuring loan clearance in such events.
Government employees benefit from automated BPA deductions, minimizing default risks. Private-sector borrowers authorize standing instructions for bank transfers, with late payments reported to CCRIS.
How Does AmBank’s Personal Loan Compare to Conventional Loans?
Shariah compliance distinguishes it from conventional loans, as profit rates replace interest, and early settlements incur rebates instead of penalties. Conventional loans may offer lower nominal rates but lack these ethical features.
For example, a conventional loan at 7% p.a. might cost less than AmBank’s 8.32% p.a. effective rate, but the latter avoids riba (usury). Borrowers prioritizing religious compliance may accept higher costs for alignment with Islamic principles.
What Are the Common Misconceptions About AmBank Personal Loans?
Some assume the 4.25%–4.45% p.a. rate is flat, but it’s effectively higher due to amortization. Others mistake the BPA 2% fee as optional, though it’s mandatory for government staff. Clarifying these details prevents surprises during repayment.
Another misconception is that private-sector applicants face identical terms. While tenures and amounts are consistent, approval rates and disbursement methods differ. Understanding these nuances ensures informed borrowing decisions.
How Can Borrowers Verify Their Loan Repayment Schedule?
Existing customers access schedules via AmBank’s online portal or monthly statements. Pre-approval applicants can estimate repayments using the official PDF table or request a custom quote from branch officers.
Discrepancies should be reported immediately. For a RM15,000 loan over 3 years, the monthly RM443 payment should reflect consistently across all documents. Variations indicate errors requiring correction.
What Support Does AmBank Provide for Loan Management?
Customer service assists with payment adjustments, deferment requests, and early settlements. The 24/7 hotline and branch network handle queries on rates, fees, or documentation.
Borrowers facing financial hardship can request restructuring, subject to approval. Temporary payment reductions or tenure extensions are possible, though these increase total profit payable.