AIA Home Loan Terms and Conditions

Who can apply•

Open to:

i. Malaysians & Permanent Residents (Age 18 & Above)
ii. Singaporean & Bruneian Nationals
iii. Foreigners with a valid work permit / registered business in Malaysia / married to a Malaysian
iv. Participants of Malaysia My Second Home Program (documentary evidence / approval from Malaysia Government under the MM2H program is required~ prior to loan disbursement)

(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.

d) Under construction residential properties developed by contractor listed in AIA developers list.
 

Minimum Loan Financed

Minimum Loan: RM100,000

Interest Rate

All packages are fixed for the entire loan duration

Package 1: 4.85%p.a
Package 2: 5.25%p.a
Package 3: 4.25%p.a (2 years), 4.99%p.a (Thereafter)

*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.
 

Loan To Value / Margin of Finance (MOF)

- MOF is up to 90% for both new purchase and refinance cases, subject to income & other eligibility.
- 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.
- Exceptions can be considered on a case by case basis and at the discretion of AIA Bhd.
 

Loan Tenure

Up to 40 years or age 70 whichever is earlier.
 

Miscellaneous Fees & Charges

* The above mentioned charges are subject to change from time to time.
* Please consult AIA for fees / charges applicable for any other requests not stated above.
 

Other Terms & Conditions


- Valuation reports and loan documentation are to be handled by AIA•s panel valuers and solicitors.

- Life policy and / or Mortgage Reducing Term Assurance (MRTA) are required.

- A houseowner insurance policy on the property to be charged is required.

- For non-landed properties, a certified true copy of the master policy with AIA Bhd endorsed as a mortgagee/chargee must be forwarded to AIA on a yearly basis.

- All packages are for a limited period only and are subject to change.

For more detailed terms and conditions, please call AIA for further 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 AIA at 1300 88 1899 for more information.

Sources:  AIA Malaysia Website