- Interest Rate (p.a.)
9.00% - 13.50%
- Loan Tenure
2 - 7 years
- Approval Duration
Within 60 minutes
- Min. monthly income
What's so great about Mach I.O.U Personal Loan?
- Approved loan amount of up to RM250,000
- Interest rate as low as 7.2% per annum after 20% cashback
- Loan approval within 60 minutes
|Min. financing amount||RM5,000|
|Max.financing amount|| Up to RM250,000|
|Min. loan tenure||2 year|
|Max. loan tenure||7 years|
|Interest rate||Prescribed interest rate from 7.20% p.a to 13.5% p.a|
|Approval duration||Within 60 minutes|
Fees & Charges
|One time set up|
|Stamp duty||0.5% of loan amount|
|Disbursement & misc. fee||N/A|
|Late payment charges||1% of outstanding loan amount|
|Age requirement||Age 23 - 60|
|Employment eligibility||Salaried Malaysian citizens employed as a government servants or private sector employees|
|Min. salary requirement||RM3,000 gross per month|
|Guarantor / Collateral requirement||N/A|
|Need to open linked banked account?||N/A|
|Need to buy Takaful product?||N/A|
Product Review by
What can be more interesting than getting your personal loan approved within 60 minutes! MACH I.O.U PERSONAL LOAN not just give you fast approval, but also 20% cashback on your interest for prompt repayments. Furthermore, there is no guarantor and collateral needed when you apply for this loan. This is a conventional loan for government servant and employee of a private sector organization. The minimum financing amount you are able to apply is RM5,000 and maximum up to RM250,000 with minimum loan tenure of 2 year and maximum of 7 years. Hong Leong Bank offers prescribed rate starting from 7.00% per annum up to 13.5% per annum.
There is no processing fee and early termination fee occur. One time payment of 0.5% of your total loan will be charged for stamp duty. Failing to commit the monthly payments on time will be incurred penalty of 1% on outstanding amount. You also must be between the age of 23 to 60 years old and earn minimum monthly income of RM3,000. In order not to have any issues with the loan processing, you will need to submit complete required documents and maintain a good record of CTOS and CCRIS.
Hong Leong MACH I.O.U 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 seven years.
Applicant must be between the age of 21 to 60 to qualify.
Applicant must be employed as a government servant or employee of a private sector organization with a minimum gross salary of RM3,000 per month.
What will it cost you and how will you be charged?One time set-up fee:
Calculate the cost of taking up this loan using our calculator
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 one hour before approval or disbursement.
You are required to furnish the following documents for your loan application:
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.