Hong Leong Islamic Auto Financing-i

This is a total car financing package with affordable profit rates, comprehensive car takaful coverage and convenient renewal of road tax.

Hong Leong Islamic Auto Financing-iSpeedy Approval
up to 9 years
Loan Type
Fixed Islamic loan
Profit Type
Margin of finance
Up to 90%
Excess Repayment
Not applicable
Early Settlement Rebate

Profit rates

How much the bank charges you based on your loan amount & loan period

ConditionMaximum YearsMargin of FinanceInterest rate
New9 years90%3.24% p.a.
Used9 years85%3.78% p.a.

Fees & Charges

Profit Rate for New Cars
from 2.8% p.a. to 3.24% p.a., depending on car brand, borrowing amount, and period
Profit Rate for Used Cars
from as low as 3.78% p.a., depending on car brand, borrowing amount, and period
Stamp Duty
Early Settlement Fee
 subject to terms of agreement with bank
Late Penalty Fee
1%  p.a. in arrears (Ta'widh)


Minimum Annual Income
Minimum Age
  • 21 to 70 years old
Who can apply
  • Malaysians
  • Salaried employee
  • Sole Proprietor/Partnership
  • Private Limited/Public Listed Company

More Information

What is this product about?

An Islamic hire purchase facility that you can use to part-finance your dream car based on the Shariah contract of Ijarah Thumma Ai Bai (AITAB).

Technically speaking, you are actually leasing the asset for an agreed financing period and rental payment (profit rate). Eventually, you will claim the ownership title of the asset once you have made full repayment to Hong Leong Islamic Bank. 

How does this Islamic car loan work?

Hong Leong Islamic Bank can provide up to a 90% margin of financing for the purchase of your brand new car, with repayment that can be made up to 9 years.

You can get your financing approved in 30 days, provided you have furnished the bank with the required documents. Simply put, you're good to go if the bank favours your repayment capability.

The rental rate is fixed throughout the life of this facility so you don't have to worry about paying more than you can afford when the bank raises its benchmark rate.

What are my obligations?

On top of your fixed monthly rental payments for this Hong Leong Islamic Bank car financing, there will be a final payment in the form of a sales contract during the final month of your lease. 

Don't worry, it's just the formal method of transferring car ownership to you at a small fee of RM3.

What happens if I do not pay my instalments?

Repossession is a possibility if you default on your payments for two successive months, so please keep up to date with your bills. If you are merely late for a repayment, Hong Leong Islamic Bank will fine you with a late penalty of 1% per year on the overdue amount.

Is early settlement an option?

It certainly is, and it is a very good option at that. You will receive a rebate on the unexpired hiring period.

Awesome! What documents do I need to apply?

Salaried Applicant:

  • Copy of NRIC
  • Driving License
  • Latest 3-months salary slips
  • Latest Borang BE (supported with tax payment receipt)
  • Latest EPF statement with at least 6 months' contribution
  • Latest 3-months bank statement / saving passbook
  • Letter of employment

Self-employed Applicant:

  • Copy of NRIC
  • Driving License
  • Latest 6-months bank statements or savings passbook
  • Latest Borang B (supported with tax payment receipt)
  • Business Registration & Form D
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