• • Up to 9 years tenure
  • Fixed loan
  • Flat interest rate
  • Up to 90% margin of finance

• Condition	Origin	Maximum Years	Margin of Finance	Interest Rate
  New	Local	9 years	90 %	2.92 %p.a.
  Foreign	9 years	90 %	2.6 %p.a.
  Used	Local	9 years	85 %	3 %p.a.
  Foreign	9 years	85 %	3 %p.a.

Interest Rate for New Cars

from 2.6 %p.a. to 2.92 %p.a., depending on car brand, borrowing amount, and period.

Interest Rate for Used Cars

from as low as 3 %p.a., depending on car brand, borrowing amount, and period.

Stamp Duty

RM 10

Photocopy Charges

RM 10.60

Consent Letter

RM 53.00

Early Settlement Fee

None

Late Penalty Fee

8 %p.a. of the outstanding amount

*inclusive of 6% GST

Minimum annual income

RM 24000

Minimum age

18 years old

Maximum age

70 years old

Who can Apply

You'll be eligible as long as you are over 18 years of age, provided that you've got a valid driving license. If you're below the age of 21, the bank might consider you as a high risk individual, so be prepared to provide them with a guarantor for your car loan.

What kinds of cars can be financed with this product?

It doesn't matter if you're eyeing a new, used, or unregistered reconditioned car, either foreign or local, as they all can be financed with the Affin Bank Conventional Hire Purchase. AffinBank can finance up to 90 %of your car's value for up to nine years.

What are my monthly repayments like?

Affin Bank calculates your installments using a flat interest rate. This means that over the course of your borrowing period you'll pay the same amount of interest regardless of how much of your debt has been paid to date. Simple, easy, fixed monthly payments.

Well, can I settle my car

loan earlier?

Of course you can! Not only that, if you pay off your loan amount in a one lump sum payment you'll be given a rebate on the remaining interest charges.

What happens when I fail to pay my installments?

The bank will not hesitate to repossess your car if you fail to pay your monthly installments for two months in a row, as set out in the Hire Purchase Act 1967. But if you do not default and are just a little overdue for a payment, you'll certainly get a late penalty charge.

What documents do I need to apply for this car loan?

Salaried Individual:

  Identity Document:  Photocopy of NRIC/Passport and valid driving license  Income Documents  Latest 3 months (without overtime) pay slips / salary vouchers; or  Latest 6 months (with overtime) pay slips / salary vouchers; or  Latest 6 months commission statements (for commission earners); or

  Latest EA Form or Borang B supported by tax payment receipt or E-Filing supported by acknowledgement

  Supporting Documents:
  Latest EPF statement, or  Latest 6 months savings/current account statements; or

  Letter from employer to the Bank to confirm individual's income

  Self-employed:

  Identity Document:  Photocopy of NRIC/Passport and valid driving license; and  Photocopy of Certificate of Business Registration (Sole-proprietorship/Partnership); or  Partnership agreement (if any); or  Certificate of practice for professional (professional bodies); or

  Business Permit / Trading License (if any)

  Income Documents:  Latest 6 months bank statements; and  Latest EA Form or Borang B supported by tax payment receipt or E-Filing supported by acknowledgement; or

  Latest Financial Statements or Management Accounts

  Supporting Document:  Contracts in hand; or  Sales vouchers (for agro-based sector); or

  Deposits / Investment / Unit trust

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