Hong Leong Personal Loan

  • Interest Rate
    5.00% p.a. ~ 7.00% p.a.
  • Max. Loan Amount
    RM 250,000
  • Approval Duration
    Up to 2 business days

Calculate your loan repayment instantly

RM
year(s)
RM
You Pay
RM 89 /mth
Interest Rate
Total Interest Payable
RM 70
Total Repayment
RM 1,070

Key Features

Approved loan amount of up to RM100,000

Approved loan amount of up to RM100,000

Monthly instalments as low as RM103

Monthly instalments as low as RM103

Monthly instalments as low as RM103

Loan approval within 2 business days (48 hours)

More details

  • icon Features Features

    Approval Duration
    Up to 2 business days
    Min. Loan Amount
    RM 5,000
    Max. Loan Amount
    RM 250,000

    Other features

    Maximum Loan Tenure
    7 Years
    Debt Consolidation
    No

  • icon Eligibility/Documents Eligibility/Documents

    Age Requirement
    21-60 years old
    Min. Monthly Salary
    RM 2,000

  • icon Fees and charges Fees and charges

    Processing Fees
    Free
    Stamp Duty
    0.5% of loan amount

    Other Fees and charges

    Late Payment Charges
    1% on outstanding loan amount
Last updated: Dec 29, 2020

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How do you apply for a personal loan online?

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Step 1

Use our personal loan calculator to find the best personal loan based on your requirements and eligibility.

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Step 2

Select the best product that fits your requirements from the list of recommended personal loan products listed and click on the Apply button.

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Step 3

Fill in a form with your details to be submitted for application, and a representative from iMoney or the bank will call you to process the application.

Review by iMoney

Hong Leong Personal Loan is a suitable personal financing for Malaysian citizens that are employed in the government sector, private sector or self-employed. This personal loan offers a financing amount from RM 5,000 to RM 150,000. It also has a relatively low instalment, decent financing, and fast approval process.

Best for: Personal use including your kid’s education fund or business investment

Income requirements: Minimum RM 2,000/month

Pros:

  • Early settlement is possible with 3 months written notice
  • Maximum financing amount of RM 150,000
  • Fast approval (2 days)
  • Wide age range eligibility (21 – 60 years old)
  • 20% Cashback on interest rate

  • You can borrow between RM 5,000 and RM 150,000.

  • 5 years.

  • Income: Minimum gross income of RM2,000. Gross salary means salary before monthly deductions such as income tax and Employees Provident Fund (EPF) contribution. Only fixed income earners are eligible.

    • Malaysian citizen
    • Age: 21 – 60 years old
    • Minimum gross income of RM2,000
    • Minimum loan requirement is RM5,000 with maximum of RM150,000

  • Hong Leong Bank will approve an application within 48 hours (2 days), provided that full documentation and information are submitted.

    To speed up the process, you can apply through iMoney where our Call Centre Consultants will walk you through the eligibility checker, application form, and advise you on the required document submission.

    After we submit your documents and information, Hong Leong Bank can approve and disburse to you within 2 days.

  • One-time Set-up Fee: A stamp duty fee of 0.5% of financing amount

    Early Settlement 1% per year on the arrears of outstanding for each facility (daily rest basis)

    Late Payment Charge 1% per year on the outstanding payment

    For example, the fee is calculated as follow:
    Late payment charge = Outstanding monthly instalment X 1% X number of days outstanding

    * The charges will not be compounded

    Note: There are no upfront charges or additional fees when you apply through iMoney. We will also not request any deposit payment from you.

  • Flat rate interest rate ranges from 9.00% to 12.50% per year depending on your financing amount, tenure, as well as your individual risk rating.

    Check your iMoney CreditScore for free to find out how your credit health is.

  • Monthly repayment for this personal financing will be RM130. However, your instalment depends on your financing amount and tenure.

    Use our personal loan calculator above to estimate your monthly repayment.

  • Once you have completed your application with iMoney, you are required to provide the following documents for your application:

    • Front & back copy of NRIC
    • 3 months (most current) salary slips, OR
    • EPF statement with at least 6 months contribution (most current), OR
    • 3 months (most current) bank statements OR saving passbook
    • BE Form with tax payment receipt attached (most current)

    If you are self-employed

    • Front & back copy of NRIC
    • Business Registration Certificate OR operating license
    • B Form OR BE Form with tax payment receipt attached (most current)
    • 6 months (most current) bank statements OR saving passbook

  • Unfortunately, no. Hong Leong Bank will check your credit history as part of their approval process. You are required to settle all overdue payments before applying and keep a healthy credit record before you apply for any personal financing or loan. We also highly recommend that you continue repaying your loans on time for another three months before reapplying.

    Check your iMoney CreditScore for free to find out how your credit health is.

  • RHB Personal Financing

    This loan has a low minimum income requirement of only RM2,000. It also comes with a fixed interest rate that starts from 8.18% p.a. and a maximum loan tenure of 7 years.

    UOB Personal Loan

    This personal loan comes with a floating interest rate starting from 11.99% per year and has a maximum tenure of 7 years. It also comes with a minimum income requirement of RM2,000 per month.