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.