ALLIANCE SAVELINK HOME LOAN SAVES INTEREST PAYMENTS & SHORTENS LOAN TENURE

6 July 2004, Kuala Lumpur - In line with its emphasis on property financing, Alliance Bank launched its new home loan, Alliance SaveLink Home Loan today. Marketed as a home loan that profits the customer, the Alliance SaveLink Home Loan offers greater financial flexibility and freedom to customers in managing their finances. With its Deposit Link feature, customers can deposit their funds into the account to trim years off their housing loan tenure and save on interest payments.

“At 1.28% p.a. 1st year for properties under construction, our new home loan is one of the most competitive in town, even for completed properties as well as for those who wish to refinance their existing home with our Zero Moving Cost package”, says Philip Goh, Alliance Bank’s Senior General Manager of Corporate Planning.

The Alliance SaveLink Home Loan package offers daily interest calculation and the funds deposited in the Deposit Link account reduces the outstanding loan for the purpose of interest calculation, thus saving interest for the customer. For example, for a RM100,000 loan with a tenure of 30 years and interest at 6.25% per annum, an additional deposit of RM200 per month on top of the monthly repayment, can reduce the loan tenure by more than 10 years and save about RM50,000 in interest. Whilst every ringgit deposited works harder in repaying the home loan and saving on interest, customers can also enjoy total flexibility as Alliance SaveLink Home Loan allows the customer to withdraw deposit in excess of instalments from their Deposit Link account at any time via ATMs, allianceonline, over the counter and by cheques with no penalty or fee charged for the withdrawals made. The home loan package comes with easy options of weekly, fortnightly or monthly repayments.

“The home financing market is highly competitive with the current low interest regime. To differentiate ourselves, we are constantly innovating our suite of products to offer other value added services to customers to make it easy for them to own and maintain a home,” continues Goh.

In striving to be distinctive and to provide greater value as well as peace of mind to home owners, Alliance Bank has also introduced Home Services, a free referral service exclusively for Alliance Bank’s home loan customers’ home repair and maintenance needs. Home Services offers the customers ready access to a list of reliable home improvement and repair experts via online request and customer hotline.

“This is a first-of-its-kind service provided by a financial institution in the Malaysian market. The idea that we want to convey is that we do more than just provide financing for a home to our customers. We want to provide our customers with peace of mind and financial security. Currently Home Services is available for our home loan customers residing in selected areas in the Klang Valley but we hope to extend the service to the rest of our other customers and maybe to the public, if there is a demand for the service, “ says Goh.

Alliance SaveLink Home Loan and Home Services are just a few of the many innovative products and services Alliance Bank has to offer. “We are also partnering with developers on projects in selected elite locations to offer renovation loans for customers who desire to personalise their dream home according to their lifestyle needs. We are confident of receiving good response to this value added service,” notes Goh.

To ensure that the customers are delighted with the Alliance brand experience, the bank has enhanced its system to provide its home loan customers with faster loan application approvals. Based on consumer insights, Alliance Bank will strive to develop products and services with new to market features to meet the needs of the consumers at their various life stages.

“We take a holistic view to property financing, from offering bridging loans to developers to end financing to the home purchasers and we complete the marketing cycle with product bundling to our customers. For example, our eligible home loan customers will enjoy fee waiver for Alliance Bank credit cards for the entire tenure of their loan. In addition, they will also enjoy free processing fees and House Owner insurance for the 1st year, subject to home owners taking up the MRTA. Home loan customers with an approved limit above RM500,000 will be invited to take up our Alliance Privilege Banking membership,” says Goh.

For more information on the Alliance SaveLink Home Loan or Home Services, please log on to www.alliancebank.com.my