Bank of China

Bank of China Housing Loan

Looking for a home loan to finance new completed or under-construction property or refinancing your existing housing loan? Bank of China offers an attractive and competitive interest rate as low as 3.80% p.a.

    • Up to 35 years
    • Term loan
    • Floating Interest Rate
    • 3 years lock in period
    • Up to 90% margin of finance
  • You BorrowEstimated Interest Rate
    more than RM3000003.80% 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. on the amount in arrears causing the total outstanding to increase
Processing Fee
No Processing Fee
Early Settlement Fee
2.25% Prepayment / Full settlement within the first 3 years from the date of first release of the loan
Insurance Types
  • Fire Insurance (Mandatory)
  • Houseowner Insurance (Optional)
  • MRTA (Optional)
  • MLTA (Optional)

Requirements

Are you eligible for this Bank of China home loan?

Minimum annual income
RM60000
Minimum age
18 years old
Maximum age
70 years old
Who can Apply
  • Malaysians
  • Permanent Residents, Foreigners working in Malaysia
  • Salaried employee
  • Self-employed

Frequently Asked Questions about Bank of China Housing Loan

Things you might want to know

Who can apply for the Bank of China Housing Loan?

This Housing Loan from Bank of China is offered to Malaysian citizens, permanent residents and foreigners with a valid working permit in Malaysia. If you are 18 years old and above, earning a minimum of RM5,000 every month, you are eligible to apply.

What can I do with Bank of China Housing Loan?

This term home loan can be used to part finance the purchase of residential property, whether completed or under-construction, in Malaysia. You can also apply for Bank of China Housing Loan to refinance your existing home to get extra cash.

The minimum amount you can apply from Bank of China Housing Loan is RM300,000 for up to 90% of the Sales & Purchase Agreement ( SPA) or market value of your property. As this home loan is based on a floating rate, your monthly instalments amount may change according to any changes in the bank's reference rate.

What are the fees and charges?

Bank of China waives the processing fee for this home loan. There are a few fees and charges that are applied to your loan, such as:

  • Stamp Duty
  • Late Payment charges of additional of 1.0% p.a. on the amount in arrears, causing the total outstanding to increase.
  • Prepayment or Full settlement within the first 3 years from the date of first release of the loan is subject to prepayment fee of 2.25% on the prepayment amount.

Do I need an insurance coverage2

Bank of China requires you to adequately insure the property so you can have peace of mind on your asset. 

You are also encouraged to subscribe to Mortgage Reducing Term Assurance ( MRTA) or Mortgage Level Term Assurance ( MLTA) to cover for your financing in the event of total permanent disability ( TPD) or death.

Great, what documents do I need?

Property documents:

  • Proof of Purchase / Sales and Purchase Agreement
  • Property booking receipt / Title copy

Salaried Employee:

  • Copy of MyKad (front and back) / MyPR (front and back) or latest valid passport & Visa / Work Permit / Employment pass
  • Latest 3-months salary slips,
  • Latest 2 years BE Form,
  • Latest Income Tax Assessment with payment receipt acknowledgment,
  • Latest 3-12 months bank statement of salary crediting account.

Self-Employed:

  • Copy of MyKad (front and back) / MyPR or latest valid passport & Visa / Work Permit / Employment pass
  • Latest Income Tax Assessment with payment receipt acknowledgment
  • Business Registration Certificate
  • Latest 6-months bank statements for personal and company / firm
  • Latest 2-years profit & loss statement

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