The Affin Bank Housing Loan Calculator is a tool that assists potential homeowners in estimating their monthly repayments. This calculator provides a clear picture of the financial commitments involved. The calculator operates by requiring the input of several key pieces of information: the property price, down payment percentage, loan period in years, and interest rate. By inputting these values, the calculator provides an estimate of the monthly repayment amount. This allows users to gauge whether a particular property is within their financial reach.
Affin Bank Home Loan Calculator
How to Calculate Affin Bank Home Loan Repayments?
To calculate Affin Bank home loan repayments, use their housing loan calculator by entering the loan amount, interest rate, and tenure. For example, borrowing RM350,000 with an interest rate of 3.8% over 30 years would result in a monthly repayment of approximately RM1,622. This helps you understand your financial obligations and plan accordingly. For precise calculations, consult Affin Bank for tailored advice.
Why Use Affin Bank’s Housing Loan Calculator?
The main advantage of the Affin Bank Housing Loan Calculator is its ability to provide an immediate, clear estimate of monthly repayments, which aids in financial planning. Additionally, it generates a comprehensive breakdown of the payment schedule, including principal, interest, and balance over the loan period. This transparency helps potential buyers understand how much of their payment goes towards the principal versus interest.
What Are the Key Features of Affin Bank’s Housing Loan Calculator?
The calculator is designed to offer a user-friendly experience with 3 main features that include:
Monthly Repayment Estimation
Calculates how much you will pay each month for the duration of your loan.
Payment Breakdown
Provides a detailed view of the principal and interest components of each payment.
Loan Eligibility
Assists in determining the maximum loan amount you can afford based on your financial input.
What Are the Interest Rates for Affin Bank Home Loans?
Affin Bank offers competitive interest rates for its housing loans. As of the latest update, the Base Lending Rate (BLR) is 6.6%, with various fixed-rate home loan options available. For instance, the Affin Home Invest-i offers a rate of 4.34% (BR – 3.74%).
What Types of Home Loan Packages Does Affin Bank Offer?
Affin Bank provides 4 home loan packages:
Home Solution Plus
Offers savings with interest calculated daily and allows for payments exceeding the instalment amount.
Home Flexi Plus
Combines a home loan with an overdraft facility for added financial flexibility.
Home Assist Plus
Suitable for properties valued between RM100,000 and RM200,000, with a full flexi package.
My First Home Scheme
Designed for first-time homebuyers, offering a margin of financing up to 100%.
Are There Any Fees Associated With Affin Bank’s Home Loans?
Affin Bank home loans may incur several fees, such as a late penalty fee of 1% per annum on outstanding amounts and an early settlement fee ranging from 3% to 5% if the loan is settled within the lock-in period. Additional fees might include processing fees and charges for document requests.
How Can I Apply for an Affin Bank Housing Loan?
To apply for an Affin Bank housing loan, you need to provide various documents, including a copy of your NRIC, recent salary slips, bank statements, and the sales and purchase agreement of the property. Affin Bank offers the convenience of applying through iMoney, which provides a free enquiry service and consultation.
What Are the Repayment Options for Affin Bank Housing Loans?
Affin Bank offers multiple repayment methods, including online transfers from your Affin Bank accounts, payments via MEPS ATMs, Interbank GIRO transfers, and standing instruction facilities for automatic monthly deductions. These options provide flexibility and convenience for borrowers.
Is Affin Bank Housing Loan the Right Choice for Me?
Affin Bank housing loans are ideal for those who require flexible repayment options and competitive interest rates. The bank’s packages cater to various needs, whether you’re a first-time homebuyer or refinancing an existing property. However, it’s important to compare these options with other available home loans in Malaysia to ensure the best fit for your financial situation.