Features
Convert your outstanding balance into monthly instalments.
| Min. Conversion Amount (RM) |
Effective Interest Rate p.a. |
Tenure (Months) |
|---|---|---|
| 1,000 | 13% | 36 |
Eligible customer will be given advance notice prior to the product enrolment.
- Lower rate @ 13% p.a. versus 15% - 18% p.a. credit card interest
- Hassle-free conversion - your outstanding statement balances will be converted upon meeting the eligibility criteria
- (annual assessment)
- No processing fee on the conversion
- No termination fee – flexibility to early settle your instalment plan with no additional fee
- Flexibility to opt-out from each conversion offer
- Customer can only convert their balance once every 12 months
Cardholders who fulfil the following requirements at the point of conversion is eligible for this plan.
Nationality : Malaysian
Monthly income : Less or equal RM5,000
Payment history : Payment ratio less or equal 10% (12 previous months’ average)
Payment ratio = Total payment / total statement balance (12 previous months)
Your card account is current and not delinquent
Note:
1. You will not qualify for future auto conversion if your annual income is above RM60,000 (income registered in HLB system).
2. You will continue to pay down any outstanding instalments from earlier converted balances.
3. You are encouraged to keep your credit card issuer updated on any changes to your income level.
You will be auto-enrolled for this program upon meeting the Eligibility Criteria above. You will be notified on this enrollment if you are eligible, and may opt out via calling to HLB Contact Centre (03 7626 8899).
Enrolled cardholder’s unpaid balance with a minimum outstanding balance of RM1,000 will be converted upon meeting the Eligibility Criteria.
Note:
Upon conversion of your credit card balance, you are allowed to cancel within 30 days from the date of conversion without any termination fee. The cooling off period only applies to 1st time conversion.
1. Where can I get assistance and redress?
If you have difficulties in making repayments, you should contact us earliest possible to discuss repayment alternatives. You may contact us at:
HLB Consumer Collections Department at Hong Leong Bank Berhad,
Level 2, Tower A, PJ City Development, 15A, Jalan 219, Section 51A, Petaling Jaya, 46100 Selangor
Tel: 03-7959 1888
Fax: 03-7873 5555
Agensi Kaunseling dan Pengurusan Kredit (AKPK), an agency established by Bank Negara Malaysia to provide free services on money management, credit counselling, financial education and debt restructuring for individuals. You can contact AKPK at:
Level 5 and 6, Menara Aras Raya (formerly known as Menara Bumiputera Commerce), Jalan Raja Laut, 50350 Kuala Lumpur.
Tel: +603-2616 7766
Website: akpk.org.my/contact-us
POWER! (Pengurusan Wang Ringgit Anda) Programme, offered by AKPK, promotes prudent money management and financial discipline to individual borrowers.
To register and for further information, kindly call 03-2616 7766 or visit the website at www.akpk.org.my.
To make a complaint on products or services offered, you may contact us at:
HLB Customer Advocacy at Level 13A, Menara Hong Leong,
No. 6, Jalan Damanlela, Bukit Damansara, 50490 Kuala Lumpur.
Tel: 03-7626 8821 / 03-7626 8802 / 03-7626 8812.
- If your query or complaint is not satisfactorily resolved by us, you may contact BNMLINK at:
4th Floor, Podium Bangunan AICB, No. 10, Jalan Dato’ Onn, 50480 Kuala Lumpur.
Tel: 1-300-88-5465 or +603-2174 1717 (for overseas calls)
Fax: 03-2174 1515.
Web form: bnm.gov.my/BNMLINK
2. What are the other Credit Card products available to me?
(i) Auto Balance Conversion (ABC)
(ii) Extended Payment Plan (EPP)
(iii) Flexi Payment Plan (FPP)
(iv) Quick Cash Monthly Instalment
(v) Quick Cash One-Time Fee