Hong Leong Housing Loan (conventional)

Up to 35 years

Term loan

Floating Interest Rate

3 years lock in period

Up to 90% margin


Borrowing RM Monthly Repayment
RM


Profit Rate

%
How Long Year
max 35 Year
Flexi/Term Lock in Period Islamic or Conventional
All Flexi Term All Yes No All Islamic Conventional

Hong Leong Housing Loan

Hong Leong Housing Loan is a straightforward term loan offering an overdraft option - in case you need extra cash once you've moved into your new home

    • Up to 35 years
    • Term loan
    • Floating Interest Rate
    • 3 years lock in period
    • Up to 90% margin of finance
    •  
  •  

You Borrow

Estimated Interest Rate

more than RM400000

4.55% p.a.
  • *Effective interest rate will be determined by Hong Leong Bank upon approval.

 

 

Fees & Charges

There are always fees but how much are they?

Late Penalty Fee - 1% p.a. of the outstanding amount

Processing Fee - No Fee

Early Settlement Fee - Subject to terms of agreement with bank

Redemption Letter Fee - RM53.00 per request

Letter for EPF Withdrawal Fee - RM21.20 per request

Cancellation Fee - RM2000 for cancellation before loan disbursement

Insurance Types - MDTA

*inclusive of 6% GST

 

Requirements

Are you eligible for this Hong Leong Bank home loan?

Minimum annual income - RM24000

Minimum age - 24 years old

Maximum age - 70 years old

Who can Apply - Any nationality

 

Frequently Asked Questions about Hong Leong Housing Loan

Things you might want to know

 

What is Hong Leong Housing Loan?

This Hong Leong Housing Loan is a no-frills home financing package that gives you the option of combining a term loan and an overdraft in one account.

What's an overdraft good for? Well, depending on your financial needs, you can withdraw a sizable amount of cash from your overdraft account using your property as collateral.

Hong Leong will be able to finance your home purchase for up to 90% of your property's market value with extra margin if you'd like to include your Mortgage Decreasing Term Assurance (MDTA), for a maximum tenure of up to 35 years. Also, Hong Leong Housing Loan offers high Debt Servicing Ratio ( DSR) of up to 80%.

 

What are my ongoing commitments?

You will be making monthly repayments on your home loan; interest is calculated based on current BR. Late payments come hand-in-hand with late penalties of course.

There are many ways to pay for your mortgage, primarily via online banking, interbank GIRO, ATM and if you prefer to take in some fresh air, you can go old school and pay over the counter at your nearest Hong Leong branch.

 

How to pay my housing loan istalments?

You can bank in money fast to Hong Leong Bank with:

Alternatively, you can also make payments using:

  • ATM cash transfer to your loan account
  • Bank in to your loan account using a Cash Deposit Machine
  • Cheque deposit at the Cheque Deposit Machine
  • Make your payment at the nearest HLB branch
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What kind of insurance does this home loan offer?

Get extra financial protection with Mortgage Decreasing Term Assurance is a term life insurance that covers you and your family from unexpected events such as death and total permanent disability.

 

How can I apply for this housing loan?

Go ahead and gather the documents listed below:

Salaried applicant:

  • NRIC photocopy
  • Salary Slips (last 3 months)
  • EA form/ EPF statement (last 2 years)
  • Latest Borang BE (supported with tax payment receipt)
  • Bank statement/ saving passbook (last 3 months)
  • Letter of employment
  •  

Self-employed applicant:

  • NRIC photocopy
  • Bank statement/ saving passbook (last 6 months)
  • Latest Borang B (supported with tax payment receipt)
  • Commission statements (last 6 months)