Personal Loan | 07 July 2020-08 July 2020
Enjoy rate from 3.20% p.a. when you apply via Hong Leong Connect on 7 July 2020 only
(Extended to 8 July 2020)
Monthly instalment from as low as RM95*
Apply from the safety and convenience of your home
*Calculated based on RM5,000 taken over financing tenure of 5 years during the Rebate Period.
Interest /Profit Rate
Our rate is on a flat rate basis
Facility Amount | Flat Interest/Profit Rate | Pay-On-Time Rebate | Rate After Pay-On-Time Rebate |
|---|---|---|---|
RM5,000 – RM250,000 (Up to RM150,000 for Personal Financing-i) | 8.00% p.a. | 60% | 3.20% p.a. |
Note: Effective interest/profit rates applicable to flat interest/profit rate of 8.00% p.a. vary from 14.13% p.a. to 14.68% p.a. depending on loan/financing-i tenures from 2 years to 5 years.
0.50% of the Facility Amount will be deducted upon disbursement for stamp duty payable.
Illustration of Instalments
Assuming your total approved facility amount is RM5,000 with 5 years financing tenure and you pay your instalments promptly:
Description/Service | Charges/Fees* |
|---|---|
Stamp Duty Fee | 0.50% of the disbursed facility amount for every approved facility. |
IBG Fee | A nominal fee of RM2 will be charged on every Interbank Giro (“IBG”), if any. |
Late Payment Charge (applicable to Personal Loan) | 1.00% p.a. on the arrears of outstanding for each facility (daily rest basis). |
Early Settlement | No charges/fees to be imposed provided 3 months’ written notice is given to the Bank prior to the early settlement. Otherwise, payment of 3 months’ interest on the amount redeemed is applicable. (For Personal Financing-i, payment in lieu of notice is not applicable). |
Compensation Charges (applicable to Personal Financing-i) | For default payment during facility tenure = 1.00% p.a. on the overdue instalment amount.
For default payment causing the facility to be terminated or brought to court = 1.00% p.a. on the outstanding balance (outstanding principal plus accrued profit).
For default payment after expiry of facility tenure = BNM Islamic Interbank Money Market (“IIMM”) rate on the outstanding balance (outstanding principal plus accrued profit).
For default payment post judgment = IIMM rate on the basic judgment sum. |
*Subject to Government Tax, if applicable
- Malaysian citizens aged between 21 and 60 years old
- Minimum annual income of RM24,000
- Minimum loan/financing-i amount is RM5,000
- Maximum loan/financing-i amount is RM250,000 (RM150,000 for Financing-i)
- Exclusively for applications via Hong Leong Connect Online Banking only
- Holds at least 1 active individual Hong Leong Bank Current/Savings Account or Hong Leong Islamic Bank Current/Savings Account-i (joint and corporate accounts are not eligible)
- Valid on 7 July 2020 only (Extended to 8 July 2020)
