Hong Leong Bank (HLB) today launches Hong Leong Personal Loan, a monthly installment loan product that offers fast loan approval within 48 hours nationwide – the fastest in the financial industry.
Available at 186 HLB branches, the new Hong Leong Personal Loan is designed to help customers meet their financial needs to continuously upgrade themselves and their families for various purposes such as home renovation, education fees, overseas travel, house down payment; even business expansion or emergency medical bills.
According to Ms Yvonne Chia, Group Managing Director, HLB, “The personal use consumption is one of the fastest growing segment growing at 17% annually with a market size of over RM21 billion. And with the proliferation of banks that offer such personal loan products, the consumers will have access to even better products and services.”
To keep up to its promise of 48-hour loan approval, HLB has also invested more than RM1 million to develop an electronic credit origination system thus allowing the bank to process customers’ application in a paperless environment. “We believe that such investment coupled with the necessary trained personnel is critical to meet the demands of today’s consumers for speed and ease in application,” adds Ms Chia.
Upon approval, the cash will be disbursed to the customer’s account within the next 24 hours. In addition, the application process is very simple for the customer as only a photocopy of IC and income proof is required. There is no requirement for collateral or guarantor.
For flexibility, the new Hong Leong Personal Loan offers financing up to 5 times of the monthly income and loan tenor options range from 2 to 5 years. It is also very affordable as the monthly installment starts from RM133.33 only.
“We are very excited about this new Personal Loan product. Therefore we have planned a series of consumer promotions and marketing activities that will be rolled out over the next 12 months,” says Ms Chia.
To apply, the applicant needs to be at least 21 years of age and earn an annual income of RM24,000.
Press Release - 29/06/2006