Is a HSBC Amanah Home Loan Right for Me?
HSBC Amanah offers a flexible Islamic home loan package based on the principle of Diminishing Musharakah. With the Home Smart-i home loan you can make prepayments and withdrawals anytime you want without charges or prior notice. Besides, you can consolidate all your deposits including salary and savings into one HomeSmart-i account and reduce the total amount of payment.
The features of the HSBC Amanah home loan packages include a margin of financing of up to 90% and a loan tenure of up to 35 years (in accordance to the latest ruling by Bank Negara Malaysia) or until the borrower reaches the age of 65, whichever is earlier. With the HSBC Amanah home loan package you can get Takaful Products for complete home and personal protection.
HSBC Amanah Home Loan Packages
HSBC Amanah offers the flexible Islamic home loan product Home Smart-i which gives you the flexibility to adapt to different priorities that may arise in the future. The table below summarises the key features of both packages.
Is this a flexi package?
Make prepayments and withdrawals on excess payments anytime without notice or charges
Banking convenience via ATM, cheque book and Internet banking
20% stamp duty waiver on financing documents on new home purchases
Stamp duty waiver for refinancing from your existing conventional home loan to HomeSmart-i (For outstanding principal balance only)
Details of HSBC Amanah’s Flexi Home Loan Packages
Every month, borrowers can make extra repayments to reduce the monthly charges that they incur through flexi home packages. A potential borrower should always considers the requirements, fees and conditions, together with the benefits for these packages.
Is a linked bank account required?
Account Maintenance Fees
RM10 per month
Am I Eligible for an HSBC Amanah Home Loan?
Borrowers must be aged 18 and above.
What Documents Will I Need to Prepare?
You will need to provide some supporting documents if you are applying for HSBC Amanah Home Loan to allow the bank to process your application. Some of the documents required are:
- 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
Sounds Great! How Should I Proceed?
Use the HSBC Amanah home loan calculator to determine your monthly instalments based on your desired property value and loan amount. Once you have determine the ideal loan amount for you, you can apply through iMoney and our mortgage consultants will assist you with your enquiries.
If you are not sure whether this home loan by HSBC Amanah is your best option, click here to compare other home loans in Malaysia.
Is It Easy to Repay my HSBC Amanah Home Loan?
HSBC Amanah has a big network of branches in Malaysia which makes it very convenient to make repayments. The following methods can be used for repaying HSBC Amanah home loans.
- Online Transfer
- Transfer funds from your HSBC Amanah Savings or Checking accounts to make your payments online
- 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
- HSBC Amanah ATMs
- Transfer funds from your HSBC Amanah Savings or Checking accounts to make your payment at all HSBC branches
- Express Payment machine
- Make a check or cash deposit at HSBC Amanah branches
- Payment by mail
- Mail to HSBC Amanah 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
If you are looking for other home loans, you may also consider
- AmIslamic Bank Home Loan
- At AmIslamic Bank, the home loan rate starts from Base Rate (BR) 3.80%. There is available the option of a flexi loan package and there is a maximum of 90% margin of financing. There is no lock-in period for this home loan.
- Bank Islam Home Loan
- Bank Islam provides a housing loan rate starting from Base Rate (BR) 3.90%. The option of a flexi loan package is not available and there is a maximum of 90% margin of financing. The lock-in period for this housing loan is 5 years.
- Hong Leong Islamic Home Loan
- The mortgage rate from Hong Leong Islamic Bank starts from Base Rate (BR) 3.84%. The option of a flexi loan package is available and there is a maximum of 90% margin of financing. There is no lock-in period for this mortgage.