HSBC Amanah Personal Financing-i

Overview

HSBC Amanah Personal Financing-i is here to offer an unsecured Islamic personal financing to Malaysian citizens and permanent residents employed as a Government servant, employee of a private sector organization, or as self-employed. If you are urgent to get a personal financing, here is your chance because the approval duration is only up to 3 business days. With this personal financing, you will get to save even more because there is no processing fee, no stamp duty fee, no disbursement fee, no early settlement penalty and no late payment charges therefore you will not be charged with any hidden charges.

On top of that, this application is made easier because there is no guarantor or collateral need in order to apply for this application. You are entitled to enjoy a fixed profit rate of 6% per annum*. You may finance a minimum amount of RM6,000 up to RM150,000.

To be eligible for applying this financing, your monthly gross salary should be at least RM3,000 for existing HSBC customer, while New to Bank customer should earn at least RM5,000.

You will also need a good credit record (CTOS/CCRIS) that means all of your overdue payments for all commitments should be settled off.

HSBC Amanah Personal Financing-i FAQ

What is the maximum amount you can borrow?

The maximum financing amount is capped at RM150,000 for existing customers and RM120,000 for New to Bank customers.

The catch?

Applicant must be between the age of 21 to 60 to qualify.

Applicant must be a Malaysian citizen or permanent resident employed as a Government servant, employee of a private sector organization, or self-employed.

Minimum gross salary is RM3,000 for existing customers and RM5,000 for New to Bank customers

Maximum financing tenure offered for existing HSBC customer is 7 years and 5 years for New to Bank customers.

What will it cost you and how will you be charged?

No early settlement fee and hidden cost.

A Standing instruction from customer's deposit account will be established to the facility account upon disbursement. Payment can be made via this deposit account.

Penalties:

No late settlement charges imposed.

No early settlement penalty imposed if you provide HSBC with:

1-month advance notice in writing, OR

Payment equivalent to 1 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, HSBC Amanah will require an average of three 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:

Fixed salaried applicant:

• Copy of NRIC (front and back)
• Any of the documents below (choose one):
• Copy of current or previous month’s salary slip OR copy of a bank statement showing salary being credited into your account
• BE form with payment receipts attached OR EA form OR EPF statement
• Copy of employment letter (if employed for less than 3 months)

Variable income applicant:

• Copy of NRIC (front and back)
• Copy of 3 months (most current) salary slips OR copy of bank statement showing salary being credited into your account
• BE form with payment receipts attached OR EPF statement OR copy of yearly commission statements from your current employer

Self-employed applicant:

• Copy of NRIC (front and back)
• Copy of latest B form with payment receipts or CPO2 attached OR EPF statement OR copy of audited financial statement (most current) OR Profit and Loss account
• Copy of your Business Registration form

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.

If you are looking for other personal financing, you may also consider

Maybank Personal Loan

With Maybank Personal Loan , the personal loan comes with an fixed interest rate starting from 6.50% p.a. This personal loan has a maximum tenure of 6 years. It also comes with a minimum income requirement of RM2,500.

AmBank Islamic AmMoneyLine Facility-i

AmBank Islamic AmMoneyLine Facility-i has a flat interest rate starting from 8% p.a. The maximum tenure for this personal loan is 8 years. It also comes with a minimum income requirement of RM2,000.

Standard Chartered Quick Cash EDGE

The personal loan rate for Standard Chartered Quick Cash EDGE starts from 10.56% p.a. It has a maximum tenure of 5 years. The personal loan also comes with a minimum income requirement of RM2,000.