Alliance One Account
Refinance To Get Extra Cash And Interest Savings.
A mortgage refinancing that turns the value of your properties into extra cash to meet your needs.
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BENEFITS OF REFINANCING
1
- If your existing loan interest rate is higher than what is currently offered in the market, you can refinance to obtain a lower interest rate, reduce monthly payments and save on the total interest paid.
- The illustration below shows the difference in monthly instalments with a reduction of interest rate by 1.50% p.a.*
| Existing Loan | Refinance With AOA | |
|---|---|---|
| Effective Landing Rate | 5.50% p.a. | 4.00% p.a. |
| Monthly Installment | RM2,839 | RM2,388 |
| Savings Per Month | RM451 |
*Calculation is based or the assumption of a RM500,000 loan amount with a loan tenure of 30 years.
Disclaimer: While Alliance Bank has taken due core in providing the simulation for your understanding, the information here is intended to serve as a guide only.
Disclaimer: While Alliance Bank has taken due core in providing the simulation for your understanding, the information here is intended to serve as a guide only.
2
- Take advantage of your property's value appreciation and cash-out to meet your investment, business or personal needs.
- Here's an illusion to show how it works:
MORTGAGE - BANK A (2010) |
|
|---|---|
| Property Price RM450,000 | Loan Amount RM405,000 |
REFINANCE WITH ALLIANCE ONE ACCOUNT (CURRENT YEAR) |
|
|---|---|
| Current Property Market Value RM600,000 | Outstanding Balance RM320,000 |
UP TO 90% MARGIN OF FINANCING (MOF) |
|
|---|---|
| Total Loan Amount: RM600,000 x 90% MOF RM540,000 |
Cash Out Amount: RM540,000 - RM320,000 RM220,000 |
How can you benefit more? Opt to have Overdraft as standby credit limit to meet your needs, be it for ongoing bills, extra expenses or emergencies. Interest will only be charged when you use the Overdraft facility.
Disclaimer: While Alliance Bank has taken due care in providing the simulation for your understanding, the information here is intended to serve as a guide only.
Disclaimer: While Alliance Bank has taken due care in providing the simulation for your understanding, the information here is intended to serve as a guide only.
3
- Pay off your higher interest rate financing for greate savings and consolidate your loans into one account for greater convenience
CURRENT FINANCIAL SITUATION
Mortgage - Bank A (Year 2010) |
|
|---|---|
| Property Price Loan Amount Interest Rate Tenure Monthly Instalment Current Outstanding Balance | RM450,000 RM405,000 5.50% 25 Years RM2,487 RM320,000 |
Personal Loan (Year 2016) |
|
|---|---|
| Loan Amount Interest Rate (Flat/Effective) Tenure Monthly Instalment Current Outstanding Balance | RM60,000 10.88%/18.62% 5 Years RM1,550 RM50,000 |
Credit Card (This Year) |
|
|---|---|
| Current Outstanding Balance Interest Rate Monthly Instalment 5% on Oustanding Balances |
RM50,000 18% RM2,500 |
Total Monthly Instalment: RM6,536
WITH ALLIANCE ONE ACCOUNT
Alliance ONE Account |
|
|---|---|
| Current Property Market Value | RM800,00 |
Facility 1 - Home Loan |
|
|---|---|
| Refinanced Amount from Bank A Margin of Financing (MOF) Interest Rate Tenure Monthly Instalment | RM320,000 40% 4.15% 25 Years RM1,716 |
Facility 2 - Home Loan |
|
|---|---|
| Outstanding Balances Consolidated Margin of Financing (MOF) Interest Rate Tenure Monthly Instalment | RM100,000 12.5% 5.90% 25 Years RM639 |
Total Monthly Instalment: RM2,355
With Alliance ONE Account, you could potentially lower your monthly instalment by RM4,181 (64%)
Disclaimer: The above information is solely for illustration purposes and is meant to aid the understanding of Alliance ONE Account. All applications will be subject to review and approval by Alliance Bank
Alliance ONE Account Features
1
High margin of financing up to 95% with legal fees and insurance financing.
2
Loan tenure up to 35 years or age 70.
3
Term loan and overdraft options available to fit your needs.
4
Interest calculated daily.
5
Convenient & Hassle-free loan consolidation service.
Please refer to the product: Disclosure Sheet or associated risks, fees and charges.
With Alliance ONE Account, you are able to:
- Maximize your property's positive value by refinance your property with us to extra cash and enjoy Interest saving.
- Pay off your existing high interest rate debt and consolidate into ONE loan for greater saving and convenience.
Result from the calculations are provided as aguide and do not constitute an offer.
FAQs about Loan Consolidation with Alliance ONE Account
The basic documents required for loan consolidation with Alliance ONE Account application are:
Please note that these are just the basic documents required. The bank may require additional documents depending on your individual circumstances.
| Salaried | Self-Employed |
|---|---|
Identification Documents:
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Identification Documents:
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There is no penalty for early repayment. However, there is a lock-in period of 3 years from the date of first disbursement. If the loan is settle within 3 years, early settlement fee will be imposed. For more info, please refer to our Product Disclosure Sheet
Yes, you may consolidate your borrowings with other banks that are reflected in your CCRIS into Alliance ONE Account
Click on ”Apply Now“ and you may drop down your personal details and contact information to us.
Our Sales Representative will contact you soon.
Our Sales Representative will contact you soon.
Your account will be charged with a late payment charge of 1% p.a. on the amount in arrears which will increase your total outstanding balance. For more info, please refer to your Letter Offer or Product Disclosure Sheet
Besides settling your existing housing loan, other loan types such as car loan, personal loan, credit cards outstanding balance and Overdraft outstanding balance can be consolidated under Alliance One Account.
