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Hong Leong Bank Home Loan

  • icon Interest Rate
    Interest Rate
  • icon New Base Rate
    New Base Rate
    2.63 %
  • icon Loan Type
    Loan Type
    Flexi Loan
  • icon Lock in Period
    Lock in Period
    3 years

icon New Base Rate Home Loan Calculator

RM
year(s)
Interest Rate
You Pay
RM /mth

What's so great about Hong Leong Bank Home Loan?

  • Full Flexi Packages

  • Comprehensive product suite: Term Loans with Optional Overdraft, Semi-Flexi and Full-Flexi Packages

icon Eligibility

Loan Tenure: Up to 35 Years
Margin of Finance: 90% + 5% for MRTA financing with Hong Leong Assurance
Suitable for: Completed & under-construction properties, refinance

Review by iMoney

  • Hong Leong Bank offers a wide range of home loans, including the Hong Leong Flexi Mortgage which comes with a “bullet-payment” feature that allows you to make up to 35% of the principle loan repayment as final instalment at the end of the loan period. As the name suggests, this Hong Leong mortgage loans allow you to pay more than your fixed monthly payment. Anyone 18 years of age or older can apply this Hong Leong mortgage package.

    There is another type of Hong Leong mortgage loans namely Hong Leong Housing Loan with the option of a term loan with overdraft facility. In other words, you can withdraw an amount of cash from your overdraft account when you sign up for this Hong Leong mortgage loan product. Likewise, there are many ways for you to repay the loan such as online banking or ATM. This Hong Leong Mortgage loan also offers you extra financial protection – Mortgage Recreasing Term Assurance (MRTA) which is also a term life insurance that covers you and your family from unexpected consequences such as total permanent disability or death.

    On the other hand, Hong Leong also offers the refinancing package known as Hong Leong MortgagePlus, which allows for payments in excess of the instalment amount to reduce interest. Hong Leong MortgagePlus is a combination of a non-interest bearing current account and home loan. It simply means that you could save more on mortgage interest as long as you keep a healthy bank balance in your current account.

    Like any other Hong Leong mortgage loan products, it comes with MRTA to safeguard your dream house for your family. Regardless of having extra savings or making extra payments, you could definitely save more via Hong Leong MortgagePlus loan. The minimum loan amount allowed for this Hong Leong mortgage plan is RM100,000.

    Completing the suite is the Hong Leong Special Housing Loan designed specifically for first-time home buyers. Hong Leong Bank is also a participating bank offering Skim Rumah Pertamaku (My First Home Scheme), a programme to support first-time home buyers below the age of 35 and with a monthly gross income of less than RM5,000.

    Hong Leong Home Loan has a 3-year lock in period and you can expect to pay an early settlement fee of 3% in case you want to complete your loan repayment within this period. These are competitive conditions when compared to other home loan products in the market.

    The margin of financing offered by Hong Leong Bank reaches up to 90% and maximum loan tenure is 30 years or up to age 65, whichever comes first. MRTA (Mortgage Reducing Term Assurance) can be financed into the loan up to a financing margin of 95%, provided the MRTA policy is purchased from Hong Leong Assurance.

  • Hong Leong Bank offers various home loan packages, such as Flexi Mortgage, Housing Loan, MortgagePlus, Special Housing Loan and Skim Rumah Pertamaku (My First Home Scheme) in order to cater to different costumer needs. We highlighted the key features of the packages for your comparison.

    Product Key Features Is this a flexi package?
    Flexi Mortgage
    • Conventional term loan with a "bullet" payment feature
    • This allows up to 35% of principle loan to be paid at the end of the loan period as final instalment
    • Only for minimum loan amount of RM100,000, for property valued at more than RM200,000
    Yes, semi-flexi
    Housing Loan
    • Option of term loan or term loan with overdraft facility
    • Extra margin of financing offered for Mortgage Decreasing Term Assurance
    • For residential properties only
    Yes, full flexi
    MortgagePlus
    • Home loan linked to a current account
    • Allows for payment in excess of instalment amount to reduce interest
    • Daily interest calculation method offers immediate savings on any payment made
    Yes, full flexi
    Skim Rumah Pertamaku (My First Home Scheme)
    • For first time home buyers only
    • Applicable by Malaysians aged 35 and below
    • Margin of financing up to 100%
    No
  • Flexi home packages allow borrowers to make extra repayments every month in order to reduce their monthly interest charges. These packages come with requirements, fees and conditions that should be considered alongside their benefits.

      Flexi Mortgage MortgagePlus
    Flexi type Semi-flexi Full-flexi
    Is a linked bank account required? No Yes
    Account Maintenance Fees No RM10 per month
    Redrawal Fees RM50 No
  • There are no specific requirements to apply for a Hong Leong home loan. Applicants for the Skim Rumah Pertamaku (My First Home Scheme) have to be Malaysian first-time home buyers aged below 35 and with a monthly gross income not exceeding RM3,000.

  • If you have applied for a Hong Leong Home Loan, you will be asked to provide some supporting documents in order for the bank to process your application. These documents are listed below:

    • Application Form
    • NRIC / Identity Card
    • Copy of Sales and Purchase or Booking Receipt or Letter of Offer from Developer
    • Copy of Individual Title Deed
    • Property Valuation Report (for completed properties)
    • Latest 3 consecutive months of salary slips / vouchers
    • Latest 6 consecutive months of commission statement
    • Latest EPF statements (with 3 consecutive months or more transaction history)
    • Latest EA form
    • Latest 6 months Bank Statement
    • Letter of Confirmation of Employment and Remuneration
  • You can use the Hong Leong Bank home loan calculator to calculate your monthly repayments, based on your desired property value and loan amount. Once you are ready to apply, you can make a free enquiry through iMoney, and we will call you back. Applying for a home loan with iMoney is absolutely free of charge. If you are not sure whether this home loan by Hong Leong Bank is your best option, click here to compare other home loans in Malaysia.

  • Below are some of the repayment methods for Hong Leong home loan borrowers.

    Online Transfer
    : Transfer funds from your Hong Leong Bank Savings or Checking accounts to make your payments online

    MEPS
    : Pay your loans at any of the MEPS ATMs (over 5,000) nationwide

    Interbank GIRO
    : Pay your loans through the Interbank GIRO fund transfer at the participating bank's branch or through online banking

    Standing Instruction Facility
    : Automatic deduction from your bank account every month

    Hong Leong ATMs
    : Transfer funds from your Hong Leong Savings or Checking accounts to make your payment at all Hong Leong branches

    Express Payment machine
    : Make a check or cash deposit at Hong Leong branches

    Payment by Mail
    : Mail to Hong Leong with your check and statement enclosed in an envelope

    Phone Banking
    : Issue instructions to have your bank account deducted to pay for your home loan with your T-PIN