AIA Home Loan Term Loan

With the AIA Home Loan Package 1 you get a fixed interest rate of 4.99% p.a. through out the loan period, while AIA Fixed Home Loan Package 2 offers a fixed interest rate of 5.39% p.a. but is a zero moving cost package which finances all legal and insurance fees so that your upfront costs are lower. The third AIA fixed home loan package offers interest rate at 4.39% p.a. for the first 2 years and 5.15% p.a. thereafter.

The minimum loan amount to be taken out with AIA is RM100,000. All home loan packages are available for financing of under-construction property, sub-sales, refinancing of unencumbered property. AIA fixed home loans also allow top up borrowing when refinancing to consolidate other debts (including car loans and unsecured debt).

With an AIA home loan you can get a margin of financing of up to 90% and maximum loan tenure of up to 35 years or until the borrower is 70 years of age, whichever comes first. AIA offers MRTA, which can be financed into the loan, but only up to a margin of finance limit of 90%. This differs from most banks, which allow a margin of finance limit of 90+5% when bundled with MRTA.

What Documents Will I Need to Prepare?

Your AIA Home Loan application will need to be accompanied by some supporting documents to allow the bank to process your mortgage applications. Some of these documents are:

* Application Form

* NRIC / Identity Card

* Copy of Sales and Purchase or Booking Receipt or Letter of Offer from Developer

* Copy of Individual Title Deed

* Property Valuation Report (for completed properties)

* Latest 3 consecutive months of salary slips / vouchers

* Latest 6 consecutive months of commission statement

* Latest EPF statements (with 3 consecutive months or more transaction history)

* Latest EA form

* Latest 6 months Bank Statement

* Letter of Confirmation of Employment and Remuneration