Hong Leong Bank

Hong Leong Islamic Auto Financing-i

Total car financing package - affordable profit rate, comprehensive care insurance and convenient renewal of road tax

    • Up to 9 years tenure
    • Fixed Islamic financing
    • Flat profit rate
    • Up to 90% margin of finance
  • ConditionOriginMaximum YearsMargin of FinanceProfit Rate
    NewLocal9 years90%3.24% p.a.
    Foreign9 years90%2.8% p.a.
    UsedLocal9 years85%3.78% p.a.
    Foreign9 years85%3.78% p.a.
View product disclosure sheet.

Fees & Charges

There are always fees but how much are they?

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
Late Penalty Fee
1% p.a. in arrears (Ta'widh)


Do you qualify for this financing?

Minimum annual income
Minimum age
21 years old
Maximum age
70 years old
Who can Apply
  • Malaysians

Frequently Asked Questions about Hong Leong Islamic Auto Financing-i

Things you might want to know

What is this product about?

An Islamic hire purchase facility where you can use to part-finance your dream car based on 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 this Islamic car loan works?

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

Financing MarginMaximum Tenure
New90%Up to 108 months
Up to 5 years85%Up to 84 months
6 to 10 years85%Up to 108 months

You can get your financing approved in 30 days, provided you have furnished the bank 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 small fee of RM3.

What happens if I do not pay my installments?

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:

  • 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:

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

Read More