Personal Loan Stay Strong Campaign Debt Consolidation

Personal Loan Stay Strong Campaign Debt Consolidation

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Personal Loan | 02 November 2020-31 December 2020

Apply online to pay off outstanding financing from as low as 5.00% p.a.*

i'm interested

Pay off high interest/profit balances at cheaper rates

Consolidate multiple payments into a single instalment from as low as RM105**

Affordable instalments for tenures from 2 to 5 years

*Rate is applicable for monthly verified income RM5,000 and above.

**Calculated based on financing amount RM5,000 taken over 5 years at flat interest/profit rate of 5.00% p.a.

Interest/Profit Rate and Instalments

Interest/Profit Rate

Our rate is on a flat rate basis

Facility Amount

Verified Monthly Income

Flat Interest/Profit Rate

Facility Tenure

RM5,000 – RM250,000

(up to RM150,000 Personal Financing-i)

RM2,000 – RM4,999

7.00% p.a.

2 to 5 years

RM5,000 and above

5.00% p.a.

Note: The effective interest/profit rates vary as follows for loan/financing-i tenure from 2 – 5 years:

(i) Flat interest/profit rate 5.00% p.a.: Effective interest/profit rates vary from to 9.15% p.a. to 9.32% p.a.

(ii) Flat interest/profit rate 7.00% p.a.: Effective interest/profit rates vary from to 12.50% p.a. to 12.91% p.a.

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 qualify for flat interest/profit rate 5.00% p.a. with monthly verified income of RM5,000 and above:

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Fees and Charges

Refer to the below for the Fees and Charges applicable to Personal Loan/Financing-i.

For more information, you may refer to our Product Disclosure Sheet available here for Personal Loan or here for Personal Financing-i.

Description/Service

Charges/Fees*

Stamp Duty Fee

0.50% of the disbursed facility amount for every approved facility.

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 – customers are required to provide 3 months’ written notice should they opt for early settlement).

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

Eligibility

  • 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 amount is RM250,000 (RM150,000 for Personal Financing-i)
  • Exclusive for online applications only

How to Apply

Click "I’m Interested" and leave your contact details. We will contact you within 48 business hours.

  • Terms & Conditions
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For enquiries, connect with us online or drop by your nearest Hong Leong Bank Branch.


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