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Hong Leong Personal Loan
An unsecured personal loan of up to 7 years for Malaysian citizens employed as a Government servant, employee of a private sector organization, or self-employed.
- Interest Rate (p.a.)
12.00% - 12.00%
- Loan Tenure
1 - 5 years
- Approval Duration
Up to 2 business days
- Min. monthly income
RM2,000
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What's so great about Hong Leong Personal Loan ?
- Approved loan amount of up to RM250,000
- Fixed interest rate of 1.00% per month
- Loan approval within 2 business days (48 hours)
Product Features
| Min. financing amount | RM5,000 |
| Max.financing amount | Up to 5x fixed monthly salary or up to RM250,000 |
| Min. loan tenure | 2 years |
| Max. loan tenure | 7 years |
| Islamic/Conventional | Conventional |
| Interest rate | Fixed rate of 12.00% per annum |
| Approval duration | Up to 2 business days |
| Debt consolidation | No |
Fees & Charges
| One time set up | |
|---|---|
| Processing fee | N/A |
| Stamp duty | 0.5% of loan amount |
| Disbursement & misc. fee | N/A |
| Penalties | |
|---|---|
| Early settlement | N/A |
| Late payment charges | 1% on outstanding loan amount |
Eligibility
| Age requirement | Age 21 - 60 |
| Employment eligibility | Malaysian citizens employed as a Government servant, employee of a private sector organization, or self-employed |
| Min. salary requirement | RM2,000 gross per month |
| Guarantor / Collateral requirement | N/A |
Other Requirements
| Need to open linked banked account? | No |
| Need to buy Takaful product? | No |
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Overview
Hong Leong Personal Loan is an unsecured personal available to citizens of Malaysia who are employed as a Government servant, employee of a private sector organization, or self-employed. If you are looking for a personal loan in a hurry then you are lucky because Hong Leong Personal Loan takes up 2 business days for the approval duration. The application process is fast and hassle free because there is no guarantor or collateral needed in order to apply for the personal loan. The minimum loan amount required in order to be able to enjoy the benefits of Hong Leong Personal Loan is RM5,000 and up to RM250,000. You are also entitled to enjoy this fantastic personal loan minimum tenure of 2 years up to 7 years.
For this conventional personal loan, you will have a fixed interest rate of 12.00% per annum. In addition, in order to save up, there will be no processing fee, no disbursement fee and no early settlement penalty charges but take note that you will be charged with a 0.5% stamp duty from the loan amount and also will be charged with 1% on outstanding loan amount for any late payments. To be eligible to apply for this loan, your minimum monthly gross income should be at least RM2,000 and you must be at least 21 years old. You will also need a good credit record (CTOS/CCRIS) that means all of your overdue payments for all commitments should be settled off.
Hong Leong Bank Personal Loan FAQ
What is the maximum amount you can borrow?
Borrowable amount of up to five times your fixed monthly gross salary or up to RM250,000 for a maximum loan tenure of five years.
The catch?
Applicant must be between the age of 21 to 60 to qualify.
Applicant must be a Malaysian citizen employed as a Government servant, employee of a private sector organization, or self-employed with a minimum gross salary of RM2,000 per month.
What will it cost you and how will you be charged?
One time set-up fee:- 3 months advance notice in writing, OR
- Payment equivalent to 3 month’s interest charge in lieu of advance notice
How long will the application take and what documentations are required?
Upon completing an application with iMoney, our representative will contact you within the same business day to confirm your application.
Thereafter, Hong Leong Bank will require an average of two business days (not including Saturday, Sunday, and public holidays) before approval or disbursement.
You are required to furnish the following documents for your loan application:
Applicant with full-time employment:- Copy of any of the documents below (choose one):
- 3 months (most current) salary slips, and 3 months (most current) EPF OR personal bank statements
- EPF statement dated within last 2 months
- EA form dated within last 12 months, and 3 months (most current) EPF OR personal bank statements
- B/BE form (most current)
- 3 months (most current) personal bank statements
- Business Registration Certificate OR operating license
- Any of the documents below (choose one):
- 6 months (most current) company bank statement
- B/BE form (most current)
- EPF statement (most current)
Can you apply if you have a bad CCRIS/ CTOS/ Credit Record?
No, you are required to settle all overdue payments before applying. It is advised that you continue repaying your loans on time for another three months before reapplying.