What is CFC+ about?
If you have a credit card limit that seem like an infinity and are looking to borrow from it higher than normal people would normally do, well CFC+, or Call For Cash Plus, has an edge over its predecessor, apart from the extended repayment period of up to 60 months!
What about the interest rates?
Glad you asked that. First of all, you will be needing a minimum of RM1,500 and your account with the bank must be solidly maintained in order to qualify for this credit facility.
While the interest rates for CFC are calculated based on the tenures of repayment, those of the CFC+ work the other way round; depending on the bank's sole and absolute discretion, you will be paying interest rate based on the amount of CFC+ approved. See table below:
|CFC+ approval amount||Interest rates|
|1500 - 10000||9.88%|
|10001 - 24999||8.38%|
|25000 and above||6.38%|
So, based on the amount of CFC+ approved and instalment period of your choice (12, 18, 24, 36, 48 or 60), the bank will charge these interest rates upfront.
What are the fees and charges I should know?
Once your cash loan has been approved, a handling fee of RM12.72 (inclusive of GST) will be billed into your statement. If you can not make a full payment on your instalment, you can choose to pay a minimum of RM50 or 5% of the outstanding balance every month.
But, that will incur a finance charge of 18% p.a. on the unpaid balance until you fully settle it. Nevertheless, when you pay off the CFC+ before your tenure expires, you will not going to appreciate the effort either as there is an early settlement penalty of RM25.
How can I apply for a cash loan?
Easy peasy. Just call Hong Leong Bank's customer service at 03 7626 8899 and inform them your CFC+ amount together with your preferred tenure.
Any Terms and Conditions?
Yes there is. You are bound by the Call For Cash Plus's terms and conditions for the entire period of borrowing.