Bank of China

Bank of China Housing Loan

Are you looking for a straightforward home loan with zero processing fees? The Bank of China Housing Loan might tickle your fancy

    • Up to 20 years
    • Term loan
    • Floating Interest Rate
    • 3 years lock in period
    • Up to 90% margin of finance
  • You BorrowEstimated Interest Rate
    RM100000 - 4999994.80% p.a.
    more than RM5000004.60% p.a.

    *Effective interest rate will be determined by Bank of China upon approval.

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Fees & Charges

There are always fees but how much are they?

Late Penalty Fee
1% p.a. of the outstanding amount
Processing Fee
No Fee
Early Settlement Fee
3% within 3-year retention period
Insurance Types
  • Fire Insurance
  • MRTA

Requirements

Are you eligible for this Bank of China home loan?

Minimum annual income
RM48000
Minimum age
21 years old
Maximum age
70 years old
Who can Apply
  • Any nationality
  • Salaried employee
  • Self-employed

Frequently Asked Questions about Bank of China Housing Loan

Things you might want to know

Can Malaysians apply for the Bank of China Housing Loan?

Yes. Bank of China has been in Malaysia since 2001, with many branches all over the country offering financial products for locals, permanent residents and Chinese nationals alike. 

This housing loan from Bank of China is a no frills mortgage tied to the Base Rate, offering to anyone who is looking to buy a new house, upgrade to new home, to invest in property and also refinance their current home.

Subject to a credit check, the bank lets you finance up to 90% of the property up to 20 years.

How does it work?

The Bank of China Housing Loan works like any conventional home loan with fixed monthly repayments. Your instalments may change according to any changes in the bank's reference rate. Note that you cannot make prepayment to reduce your loan principal as this is a fixed home loan.

What kind of fees do I need to pay?

There are a few such as Stamp Duty , Legal Fee, Valuation Fee (if any) and GST, where applicable. You also need to watch out for a late payment fee of 1% should you missed your payment, and an early settlement penalty of 3% if you redeem the home loan within 3 years from the disbursement date.

Would I need to purchase insurance?

Bank of China requires to adequately insured the property against any risks so they can have peace of mind in lending you a load amount of money to secure the asset. You are also encouraged to subscribe to Mortgage Reducing Term Assurance ( MRTA).

Great, what documents do I need?

Property documents:

  • Proof of Purchase / Sales and Purchase Agreement
  • Tenancy Agreement (if applicable)

Salaried Employee:

  • Copy of MyKad (front and back) or latest valid passport & Visa / Work Permit / Employment pass
  • Latest 3-months salary slips or
  • Latest Income Tax Assessment or
  • Latest EPF Statement or bank statement of salary crediting account

Self-Employed:

  • Copy of MyKad (front and back) or latest valid passport & Visa / Work Permit / Employment pass
  • Latest 3-months salary slips or
  • Latest Income Tax Assessment or
  • Business Registration Certificate – Form 24 and Form 49
  • Latest 6-months bank statements and Company's financial statement.

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