Hong Leong Special Housing Loan

Realise your dream of owning a house! Take up a mortgage plus MDTA home insurance with Hong Leong Bank. Competitive package for low income earners!

Hong Leong Special Housing Loan
Tenure
Up to 30 years
Interest Rate
from 5.85% 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
up to RM300,0005.85% p.a.
*Effective interest rate will be determined by Hong Leong Bank upon approval.

Requirements

Minimum Annual Income
RM36,000
Minimum Age
  • 24 to 35 years old
Who can apply
  • Malaysians
  • First time home buyers

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

How does Hong Leong Special Housing Loan work?

If you're thinking of buying your first house, Hong Leong Special Housing Loan could be your ticket to ride. This home loan is designed for first time house buyer who wish to get their hands on properties worth a maximum of RM250,000 for Peninsular Malaysia, or RM300,000 in East Malaysia. 

The condition for this loan application is that as an applicant, or joint applicant you and your spouse, if any, should have a minimum combined income of no more than RM3,000 per month. 

Subject to your credit rating, Hong Leong will be able to finance up to 90% of your property's value! Also, the application process is hassle-free. You can simply get a sales personnel to visit you at your convenience. 

How do I pay for my installments?

Before we tell you how to pay, you might need to know what you will be paying for each month: a portion of your principal, plus the interest, which is calculated monthly based on the BR.

You can make your repayment via ATM, online transfer from a Hong Leong Bank account, Interbank GIRO, Hong Leong Bank branches, or a standing instruction - a very useful service if you want your payments to always be on time.

Do I need homeowner's Insurance?

Oh boy, of course you would need one! If you wish to take up this home loan, you are required to secure your property with Mortgage decreasing Term Assurance (MDTA) which is a term life insurance that covers you and your family for death and total permanent disability. 

To enjoy this benefit, you are required to pay a higher monthly instalment to include insurance cost.

What documents do I need to apply for this housing loan?

Depending on your employment, you will need to bring along the documents listed below:

If new salaried employees:

  • Latest 3 months salary slips
  • Latest Borang BE (supported by tax payment receipt)
  • Latest EPF statement
  • Latest 3 months bank statement / saving passbook
  • Letter of employment

If you are self-employed:

  • Latest 6 months bank statements or savings passbook
  • Latest Borang B (supported with tax payment receipt)
  • Latest 6 months commission statements