1. What is Hong Leong Bank (HLB) Personal Loan?
HLB Personal Loan is an unsecured personal term loan with a fixed interest rate that does not require collaterals or a guarantor.
2. What are the key benefits of a HLB Personal Loan?
- Cashback on interest when you pay-on-time.
- Attractive interest rates.
- Easy application.
- Repayment tenures of 2 years (24 months) to 5 years (60 months).
3. Who is eligible to apply for HLB Personal Loan?
- Malaysian citizens aged between 21 to 60 years old, employed or self-employed individuals. (including sole-proprietors) working in Malaysia who earn a minimum annual income of RM24,000 per annum.
- Malaysian citizens aged between 21 to 60 years old, employed individuals working in Singapore who earn a minimum annual income of SGD24,000 per annum.
4. Is Islamic Financing available?
Yes, please visit our Hong Leong Islamic Bank (HLISB) Personal Financing-i webpage to learn more about our Islamic facility.
5. What is the minimum and maximum loan amount I can borrow?
The minimum loan amount is RM5,000, while the maximum loan amount is RM250,000. All applied loan amount is subject to credit evaluation.
6. What is the minimum and maximum loan tenure that is available?
The minimum loan tenure is 2 years (24 months), while the maximum is 5 years (60 months).
7. How do I apply for a HLB Personal Loan?
- Visit any of our HLB branches
- Apply online via our HLB website
- Apply via our Online Banking at HLB Connect Online
8. How do I make monthly payments?
- Cash or cheque at any of the HLB branches nationwide
- Cash or cheque through Cash/Cheque deposit machines at selected HLB branches
- Cheque via post
- Standing Instruction from your Current/Savings account
- Online payment via HLB Connect Online (HLB Connect Users Only)
9. How will I receive the funds?
Funds will be disbursed to your designated personal current or savings account. The personal account must be opened, operated and maintained under the Personal Loan applicant.
10. How do I check the status of my application?
You can track the status of your application on the HLB webpage under “Track My Application.”
11. How do I know if my application has been approved or declined?
You will be notified via SMS upon the approval or rejection of your loan application.
12. How much is the late payment charge?
All instalments due but not paid by the due date will be charged late charges. The late charges are 1% per annum on the outstanding instalment amount in arrears till date of full monthly repayment (daily rest basis).
13. What is Early Settlement?
Early Settlement refers to the premature termination of the HLB Personal Loan where the borrower pays the outstanding balance in his/her account before the maturity date of the loan.
14. How much are the Early Settlement fees?
There are no Early Settlement fees, provided 3 months prior written notice is given to the bank or payment of 3 months interest on the amount redeemed in lieu of notice.
15. What happens if I pay extra for my monthly instalment?
Any overpayment of the monthly instalment will be treated as advance payment and counted towards next month’s instalment payment.
16. Where can I get more information?
For additional information on HLB Personal Loan, please visit HLB’s website. Alternatively, you can contact us here.