Hong Leong Housing Loan

Hong Leong Housing Loan is a straightforward term loan offering an overdraft option - in case you need extra cash once you've moved into your new home

Hong Leong Housing Loan
Tenure
Up to 35 years
Interest Rate
from 4.75% p.a.
Loan type
Term loan
Interest Type
Floating interest rate
Lock In Period
3 years
Margin of finance
up to 90%

Interest Rate

The interest paid based on the home loan amount borrowed

You borrowEstimated Interest Rate
more than RM400,0004.75% p.a.
*Effective interest rate will be determined by Hong Leong Bank upon approval.

Requirements

Minimum Annual Income
RM24,000
Minimum Age
  • 24 to 70 years old

Fees & Charges

Late Penalty Fee
1% p.a. p.a. of the outstanding amount
Processing Fee
None
Early Settlement Fee
Subject to terms of agreement with bank
Redemption Letter Fee
RM50 per request
Letter for EPF Withdrawal Fee
RM20 per request
Cancellation Fee
RM2000 for cancellation before loan disbursement
Insurance Types
  • MDTA

More Information

What is Hong Leong Housing Loan?

This Hong Leong Housing Loan is a no-frills home financing package that gives you the option of combining a term loan and an overdraft in one account. 

What's an overdraft good for? Well, depending on your financial needs, you can withdraw a sizable amount of cash from your overdraft account using your property as collateral. 

Hong Leong will be able to finance your home purchase for up to 90% of your property's market value with extra margin if you'd like to include your Mortgage Decreasing Term Assurance (MDTA), for a maximum tenure of up to 35 years. Also, Hong Leong Housing Loan offers high Debt Servicing Ratio (DSR) of up to 80%.

What are my ongoing commitments?

You will be making monthly repayments on your home loan; interest is calculated based on current BR. Late payments come hand-in-hand with late penalties of course. 

There are many ways to pay for your mortgage, primarily via online banking, Interbank GIRO, ATM and if you prefer to take in some fresh air, you can go old school and pay over the counter at your nearest Hong Leong branch.

How to pay my housing loan istalments?

You can bank in money fast to Hong Leong Bank with:

Alternatively, you can also make payments using:

  • ATM cash transfer to your loan account
  • Bank in to your loan account using a Cash Deposit Machine
  • Cheque deposit at the Cheque Deposit Machine
  • Make your payment at the nearest HLB branch

What kind of insurance does this home loan offer?

Get extra financial protection with Mortgage Decreasing Term Assurance is a term life insurance that covers you and your family from unexpected events such as death and total permanent disability.

How can I apply for this housing loan?

Go ahead and gather the documents listed below:

Salaried applicant:

  • NRIC photocopy
  • Salary Slips (latest 3 months)
  • EA form/ EPF statement (latest 2 years)
  • Latest Borang BE (supported with tax payment receipt)
  • Bank statement/ saving passbook (latest 3 months)
  • Letter of employment

Self-employed applicant:

  • NRIC photocopy
  • Bank statement/ saving passbook (latest 6 months)
  • Latest Borang B (supported with tax payment receipt)
  • Commission statements (latest 6 months)