ICBC

ICBC Home Loan

No monthly fees? Mei wen ti! Get this low interest home loan from ICBC. Pay extra whenever you want with this hassle-free mortgage

    • Up to 30 years
    • Term loan
    • Floating Interest Rate
    • 3 years lock in period
    • Up to 90% margin of finance
  • You BorrowEstimated Interest Rate
    more than RM1000004.75% p.a.

    *Effective interest rate will be determined by ICBC 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
RM212.00
Early Settlement Fee
Subject to terms of agreement with bank
Redemption Letter Fee
RM53.00 per request
Letter for EPF Withdrawal Fee
RM21.20 per request
Cancellation Fee
RM2000 for cancellation before loan disbursement
Insurance Types
  • MRTA

*inclusive of 6% GST

Requirements

Are you eligible for this ICBC home loan?

Minimum annual income
RM24000
Minimum age
21 years old
Maximum age
70 years old
Who can Apply
  • Any nationality

Frequently Asked Questions about ICBC Home Loan

Things you might want to know

What do I need to know about the Industrial and Commercial Bank of China Home Loan?

This is a conventional, straightforward housing loan. It has a floating interest rate and the option to deposit extra cash in a lump sum payment to reduce your loan principal and loan interest - just takes one simple request to the bank.

Subject to your credit-worthiness, the bank can finance up to 90% of the value of your new house.

What are my commitments?

You'll need to pay your monthly installment, that’s a huge enough commitment if you're taking up a 30-year home loan. Your repayments will vary according to fluctuations in the BR.

It is important to keep up with the installments because failure to do so will result in unpleasant late payment penalties.

What kind of insurance do I need?

It is compulsory to buy fire insurance. If your property has a Group / Master Insurance, you can request a copy of that policy and get a rebate from Industrial and Commercial Bank of China.

The bank also encourages you to take up Mortgage Reducing Term Assurance ( MRTA) to hedge the risk of losing your family's property due to unforeseen circumstances.

Why should I choose this mortgage?

You have the flexibility to deposit extra cash to reduce your principal and interest charges without paying unnecessary fees, saving you money and time!

What documents are needed when applying a home loan with ICBC?

Salaried applicant:

  • NRIC photocopy
  • Latest 6 months salary slip
  • Latest 6 months bank statements / savings passbook
  • Latest EPF statement
  • Letter of Employment
  • Sales & Purchase Agreement / Booking receipt from developer
  • Valuation report if the property is from a sub-sale

Self-employed applicant:

  • NRIC photocopy
  • Latest 6 months salary slip
  • Latest 6 months bank statement
  • Business Registration forms like From 24 & 49
  • Sales & Purchase Agreement / Booking receipt from developer
  • Valuation report if the property is from a sub-sale
  • And any other documents to evaluate your net worth, like fixed deposit certificate or unit trust investment statement

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