Hong Leong Essential credit card

Hong Leong Essential

Specially designed to give you greater financial freedom and flexibility - 1% unlimited cashback all the time. Less plastic, more power!

  • 15% p.a. interest rate
  • 20 days interest-free period
  • up to 1% cashback
  • 6.99% p.a. balance transfer over 12 months
  • Easy Payment Plan (EPP)
  • RM106.00 annual fee

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Benefits

Because you should be rewarded for giving the bank your business

Cashback
With your Hong Leong Essential Credit Card, you always get something back. Whenever you use it for shopping, dining, travelling or anything else, you'll enjoy 1% cash back on your purchases. And there's no cap on how much you can get. The more you spend, the more cash back you get.
Discover how much you can save when you shop with your new Hong Leong Essential
Cashback CategoryCashback RateMonthly CapSpend
All RetailSpendup to RM5000 monthly0.6%RM30up to RM5000 monthly
All RetailSpendfrom RM5001 and above monthly1%uncappedfrom RM5001 and above monthly
Insurance TransactionsSpendany amount monthly0.6%uncappedany amount monthly
Balance Transfer
Hong Leong offers 6 or 12 months balance transfers at 6.99% p.a.
Pay OverWith Interest Rate AtWhen You Transfer
6 months6.99% p.a. and no one-time upfront handling feefrom RM1000 
12 months6.99% p.a. and no one-time upfront handling feefrom RM1000 
Learn more about Hong Leong Balance Transfer
Easy Payment Plan (EPP)
Hong Leong Bank EPP offers payment terms from 3 to 36 months at 0% interest on retail purchases from approved merchants. No penalty fee for early payment. For all other purchases, you can opt to Hong Leong Flexi Payment Plan for instalment period of up to 36 months at 8.99% p.a..
Pay OverWith Interest Rate AtWhen You Spend
3 months0% p.a. and no one-time upfront handling feefrom RM500 
6 months0% p.a. and no one-time upfront handling feefrom RM500 
12 months0% p.a. and no one-time upfront handling feefrom RM500 
18 months0% p.a. and no one-time upfront handling feefrom RM500 
24 months0% p.a. and no one-time upfront handling feefrom RM500 
36 months0% p.a. and no one-time upfront handling feefrom RM500 
Learn more about Hong Leong Extended Payment Plan
Pay OverWith Interest Rate AtWhen You Spend
6 months8.99% p.a. and no one-time upfront handling feefrom RM500 
12 months8.99% p.a. and no one-time upfront handling feefrom RM1000 
18 months8.99% p.a. and no one-time upfront handling feefrom RM1000 
24 months8.99% p.a. and no one-time upfront handling feefrom RM2000 
36 months8.99% p.a. and no one-time upfront handling feefrom RM2000 
Learn more about Hong Leong Flexi Payment Plan
Low Interest Rate
Need money fast for a holiday or big purchase? Have preferential low interest fee 10.8% per year on your cash advance. Withdraw up to 70% on your credit limit.

Fees & Charges

There are always fees but how much are they?

Annual Fee
RM106.00
  • Waived when waived with 12 retail transactions or RM8,000 retail spend a year.
Annual Fee for Supplementary Card
RM53.00
Minimum monthly payment
RM50 or 5% of outstanding amount
Late payment fee
RM10 or 1% of outstanding amount, up to a maximum of RM100
Cash withdrawal fee
RM5.30 or 2.12% of withdrawn amount, whichever is higher
Interest Rate on Cash Withdrawals
10.8%
Contact-less Payment Methods
payWave

*inclusive of 6% GST

Requirements

Are you eligible for this credit card?

Minimum annual income
RM24000
Minimum age for primary card holder
21 years old
Minimum age for supplementary card holder
18 years old
Who can Apply
Anybody

Features

Get some extra help from your credit card when you need it most

Easy Payment Plan
Hong Leong Extended Payment Plan
Hong Leong Flexi Payment Plan
Easy payment plans (EPP) are great for large purchases that you want to pay off over a period of time.
Cash Advance / Cash Loan
Hong Leong Bank Call For Cash
Cash Advance is a loan against the credit limit of your card at a reasonable rate.
Balance Transfer
Hong Leong Balance Transfer
Balance transfer allows you to consolidate debt from your other credit cards onto this card.

Hong Leong Essential review

What's so good (or not so good) about it?

Unlimited Cashback

With Hong Leong Essential, you will definitely get some cashback of up to 1% on anything else. No minimum spending is required. And, there is no cap at all!

For all the retail transactions, be it on dining, shopping or travelling, you can earn 0.6% cashback on the first RM5000 spending. If you spend more than that, you are eligible for unlimited 1% cashback. The more you spend, the more cashback return you will get. However, the cashback is not applicable on petrol spending.

Besides that, you can enjoy unlimited 0.6% cashback on insurance transactions with no minimum spending is required.

Zero Cost

The annual fee is waived for life when you swipe the Hong Leong Essential card with a minimum 12 retail transactions or RM8000 retail spend in a year.

Otherwise, the annual fee is RM106 for the principal card and RM53 for each supplementary card.

Low Cash Advance Fee

The cash advance service allows you to withdraw cash for up to 70% of your credit limit with your Hong Leong Essential. The withdrawals can be made via an ATM or over the counter at any Hong Leong Bank branches.

However, Hong Leong Bank imposes a fee on each of the withdrawal with lower charges at only 2% of the withdrawal amount or minimum RM5, whichever is higher for each transaction. Bear in mind that Hong Leong Bank reserves the right to impose the standard rate of 5% or minimum RM20 per transaction, whichever is higher. Despite low cash advance fee, do note that you have to pay the interest rate of 10.8% p.a..

0% Instalment

You can enjoy zero interest repayment on your big purchases with Hong Leong Extended Payment Plan ( EPP). The repayment period of your choice is either 3, 6, 12, 18, 24 or 36 months, depending on the plan offered by the participating merchants. The minimum spending amount is RM500. Worry not, there is no hidden charges.

For all the other retail purchases, you can opt for Hong Leong Flexi Payment Plan (FPP). This plan offers you the interest rate of 8.99%p.a. for all tenures.

  • For 6 months' instalment, the minimum spending is RM500.
  • For 12 and 18 months' instalment, the minimum spending is RM1000.
  • For 24 and 36 months' instalment, the minimum spending is RM2000.

As long as you fulfill the requirement, you can contact Hong Leong Call Center at 03-7626 8899 to convert your purchases to FPP to your preferable instalment tenures. Remember that you have to settle your repayment within the agreed tenures, otherwise the standard finance charges of up to 18%p.a. will be imposed on the balance.

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