What is the Alliance ONE Account ("AOA")?
The AOA is a mortgage refinancing service that consolidates your loans/financing balances into one account. Refinance your mortgage with AOA and get an Overdraft Facility/Cashline Facility-i to settle all your debts by simplifying and reducing all your monthly repayments into a single account.
Alliance Bank is offering up to 95% margin of financing (inclusive of legal fees and insurance/takaful financing) on the current value of your equity, with tenure of up to 35 years. The margin of financing for Overdraft Facility/Cashline Facility-i is up to 70%.
How does Alliance ONE Account work?
Your home equity is used as collateral for secured financing. How much this is worth depends on the value of your property, minus the outstanding on your existing loans/financing.
AOA helps you to pay off your current loans/financing balances, conveniently consolidating multiple repayments into a single, easy to manage, financing scheme. This means you will have one monthly repayment that’s lower than all your other repayments combined. Flexible repayment options lets you decide how you want to repay the Overdraft Facility/Cashline Facility-i. Take your time to lower monthly repayment, or just enjoy the peace of mind from having a few monthly commitments to worry about.
How do I qualify?
All you need is a completed residential or commercial property, a minimum income of at least RM5,000 per month and have a good credit score.
Terms and Conditions apply: All applications are subject to review and approval by Alliance Bank/Alliance Islamic Bank.
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