APlus Home Loan

APS Bank Home Loans

The APlus Home Loan is a unique product that combines your home loan with your current, overdraft, deposit accounts and debit cards - all in one single account. These features effectively lower the amount of borrowing on which you are charged daily debit interest, enabling you to maximise your savings. Apart from reducing interest payments which add up to substantial amounts over the lifespan of the facility, APlus also makes life easier because it enables better control and monitoring of your finances.  Moreover, you can easily manage your money through the 365 online banking 24 hours a day, 7 days a week.

Features of the APlus Home Loan at a glance

  • Borrow up to 90% - You may borrow up to 90% of the cost of the purchase, extension, completion or refurbishing of the property provided loan amount exceeds €85,000.
  • Bonus Limit - An additional bonus limit of 10% of the facility (not exceeding €10,000) is made available when the initial loan amount is fully utilised.  This may be used to cover other personal expenses and may be repaid over the same term.
  • Additional Finance - Further finance up to €25,000 for the purchase of furniture, domestic appliances, energy saving or renewable energy products or systems and other home related furnishings or improvements may be included.
  • The facility may be repaid over a maximum term of 40 years or your retirement age, whichever is the earlier.

Start saving money immediately with the APlus Home Loan...

  • Reduced processing fees
  • No bank legal fees
  • No bank architect fees
  • A very competitive interest rate
  • No early repayment fees
  • FREE APS VISA Debit Card for the first year
  • FREE Travel and Purchase Protection Insurance offered with APS VISA Card
  • No standing order charges for insurance premium payments
  • Option of rolling up part of legal fees not exceeding €2,500
  • Optional initial 2 year moratorium on capital repayments


Representative example of a Fixed Interest Rate Home loan

On a fully utilised APlus Home Loan of €200,000 at a variable borrowing interest rate of 3.5% p.a. then the APRC will be 3.56% p.a. The loan will be repayable in 480 equal monthly instalments of €780.62 over a term of 40 years. The total sum payable throughout the term of the loan will be €374,797.60 (being capital of €200,000, interest of €174,697.60, processing fee of €100).

All APlus Home loans are subject to the final approval from your APS servicing branch.

*The APRC calculation is based on the below assumptions:

The consumer lending bank base rate (currently at 2.25%) remains unchanged during the period of the loan. The facility is utilised in full within the first 3 months after being sanctioned. Since the APlus home loan is a hybrid between the traditional Home-Loan and the Overdraft facility the worked example is calculated based on the scenario that the facility is always in debit and follows the scheduled repayments. A processing fee (0.25% of the loan amount) will be collected at the time of issuing the sanction letter and will be refunded (except for €100 to be retained by the Bank) at the time of signing the contract. Bank legal fees (0.325% of the loan amount + VAT) will be waived for first time and second time home buyers acquiring their first residential unit. The consumer has the right to pay the loan in full or in part before the agreed termination. In the eventuality that the loan is either fully repaid or reduced by an amount equivalent to or greater than 30% of the sanctioned home loan limit within the first 3 years, Refunded / Waived Bank fees will become due. The credit agreement is to remain valid for the period agreed between the Bank and the consumer, and that both parties will fulfil their obligations under the term and by the dates specified in the credit agreement. The APRC calculation is based on the total cost of the credit to the consumer, expressed as an annual percentage of the total amount of credit.

The worked example does not include the following items since such costs cannot be determined in advance: A life assurance policy covering the amount of the facility and a building replacement policy which are to be pledged in favour of the Bank. Also, periodic updating of searches where such fees would incur Public Registry and Lands Registry fees.

Terms and conditions apply and are available on request.

Watch video

Download brochure


APS Bank Home Loans gazette buttton

Pre-contractual General Information Sheet

Home Loan Calculator

APlus - Terms and Conditions (Old)
APlus - Terms and Conditions (New)*
* For accounts opened from 1st November 2017 onwards, these Terms & Conditions will apply immediately.
For accounts opened prior to 1st November 2017, these Terms & Conditions will apply from 1st April 2018.

Book an appointment here

 


 

APS Bank will use the information provided within this form to process your request. For security and data confidentiality purposes it is not advisable to use this form to send sensitive data such as account numbers, account balances, login information and any other financial information that can identify a specific transaction. We will never ask you for this type of personal information through our website, social media or direct you to a web page that asks for this information. Please note that the Bank has revised the Data Privacy Policy. Kindly  visit www.apsbank.com.mt/gdpr for further details.

Copyright © 2017 APS Bank Ltd
APS Bank Ltd is licensed to undertake the Business of Banking and to conduct Investment Services business by the Malta Financial Services Authority and is enrolled in Tied Insurance Intermediaries List under the Insurance Intermediaries Act 2006