ICBC Home Loan (conventional)

Up to 30 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

ICBC Home Loan

No monthly fees? Mei wen ti! Get this low interest home loan from ICBC. Pay extra whenever you want with this hassle-free mortgage

    • Up to 30 years
    • Term loan
    • Floating Interest Rate
    • 3 years lock in period
    • Up to 90% margin of finance
    •  
  •  

You Borrow

Estimated Interest Rate

more than RM100000

4.75% p.a.
  • *Effective interest rate will be determined by ICBC 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 - RM212.00

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 - MRTA

*inclusive of 6% GST

 

Requirements

Are you eligible for this ICBC home loan?

Minimum annual income - RM24000

Minimum age - 21 years old

Maximum age - 70 years old

Who can Apply - Any nationality

 

Frequently Asked Questions about ICBC Home Loan

Things you might want to know

 

What do I need to know about the Industrial and Commercial Bank of China Home Loan?

This is a conventional, straightforward housing loan. It has a floating interest rate and the option to deposit extra cash in a lump sum payment to reduce your loan principal and loan interest - just takes one simple request to the bank.

Subject to your credit-worthiness, the bank can finance up to 90% of the value of your new house.

 

What are my commitments?

You'll need to pay your monthly installment, that’s a huge enough commitment if you're taking up a 30-year home loan. Your repayments will vary according to fluctuations in the BR.

It is important to keep up with the installments because failure to do so will result in unpleasant late payment penalties.

 

What kind of insurance do I need?

It is compulsory to buy fire insurance. If your property has a Group / Master Insurance, you can request a copy of that policy and get a rebate from Industrial and Commercial Bank of China.

The bank also encourages you to take up Mortgage Reducing Term Assurance ( MRTA) to hedge the risk of losing your family's property due to unforeseen circumstances.

 

Why should I choose this mortgage?

You have the flexibility to deposit extra cash to reduce your principal and interest charges without paying unnecessary fees, saving you money and time!

 

What documents are needed when applying a home loan with ICBC?

Salaried applicant:

  • NRIC photocopy
  • Latest 6 months salary slip
  • Latest 6 months bank statements / savings passbook
  • Latest EPF statement
  • Letter of Employment
  • Sales & Purchase Agreement / Booking receipt from developer
  • Valuation report if the property is from a sub-sale
  •  

Self-employed applicant:

  • NRIC photocopy
  • Latest 6 months salary slip
  • Latest 6 months bank statement
  • Business Registration forms like From 24 & 49
  • Sales & Purchase Agreement / Booking receipt from developer
  • Valuation report if the property is from a sub-sale
  • And any other documents to evaluate your net worth, like fixed deposit certificate or unit trust investment statement