A: Yes. For every HL MortgagePlus account, you shall open /maintain the following accounts with HLB:-
     (I) a HL MortgagePlus loan account (term loan)
     (II) a non-interest bearing current account which is linked to (I) above.

A: Hong Leong MortgagePlus link your loan account directly to your MortgagePlus current account, whereby the credit balance in your current account will automatically help to give you greater savings on interest.

A: A simple illustration
     Based on the following assumption:-

• Loan outstanding balance: RM500,000 (debit)
• Current account available balance: RM80,000 (credit)
• Interest rate: 6.75% p.a.
• Daily rest basis
• No change to the loan & current account position for 30 days (a month)

Workings on Interest computed for 30 days:-

A: As per above illustration:-

     Interest savings:
     RM2,465.75 less RM2,071.23 = RM443.84 / a month

A:

Cost savings on interest - With the concept in (3) and as illustrated in (4) above, whenever you deposit or save into your current account, your loan interest will be reduced.

Ability to pay-off loan faster - With lower interest cost payable, the loan tenure will be shorten, thus allowing you to own your home sooner.

Flexibility - Make extra payments and withdraw from your current account without having to apply or worry on unnecessary charges or penalties.

Accessibility - Easy access to funds in your current account via branch, cheque book, ATM and internet banking

Convenience - Manage all your banking transactional needs and at the same time optimize on interest savings when you consolidate your funds into one account

A: When you pay less interest for an instalment, more of your loan principal will be paid off. This will result in your loan tenure shorten.

A: With HL MortgagePlus loan, you'll be savings on higher rate if the rate chargeable on loan is higher than FD rates.

Please see illustration* below:-

• Traditional housing loan:

              Housing loan RM500,000 x 6.75% p.a. = RM 33,750
              Fixed deposit RM 80,000 x 3.70% p.a. = RM 2,960
              Net annual interest payable = RM 30,790

• HL MortgagePlus
  

              MortgagePlus account RM500,000
              Current account bal account RM 80,000

              Integrated bal for
              Interest computation RM420,000
              Net annual interest payable = RM420,000 x 6.75%
              = RM28,350

             Difference (annual interest payable) =RM 30,790 - RM28,350
                                                                             = RM2,440

(*Note: Above workings are for illustration purpose only. Workings are built on simple assumption of loan amt of RM500,000 calculated at loan rate of 6.75% while FD rate is on 3.70%)

A:

• An individual
• Age 18 years and above
• Income requirements: 3 times monthly repayment
• Minimum loan amount of RM100,000

A: No, as HL MortgagePlus applies to individuals only.

A: Yes. You will be assigned with two different account reference. One for your MortgagePlus loan and the other for your MortgagePlus current account.

     For repayment of loan, you have to sign up Standing Instructions on your current account to automate the transfer of interest / instalment / maintenance fee from you current account to your loan account.

A: Initial amount for opening of account is RM500.

A: Yes, you will be given a cheque book.

A: Yes, provided the current account is a non-interest bearing type with no existing facility. It can be converted to MortgagePlus current account type.

A: No, the link is only to the designated MortgagePlus current account.

A: Yes, if you want to maximize on interest savings.

A: Upon acceptance of Letter of Offer.

A: With the Standing Instruction which you have signed up on your current account, your repayment will be automated so long as you continue to maintain sufficient funds in your current account. However, if you have insufficient funds in your current account and depending on situations, you may be advised by HLB to pay directly into your MortgagePlus loan account.

Other hassle free payment with:

• MEPS IBG/Internet Banking (e.g. www.hongleongconnect.my)
  

Alternative payment methods are:

• ATM transfer to your loan account
• Bank in to your loan account via Cash Deposit Machine
• Cheque deposit at the Cheque Deposit Machine*
• Make your payment at the nearest branch*

* Important: From 2 Jan 2015, RM0.50 processing fee will be charged per cheque issued

A: RM100,000.

A: Applicable to construction or completed residential and non-residential properties.

A: Two different statements i.e. Monthly statement on MortgagePlus Current account and Half-yearly loan statement for MortgagePlus loan account.

A: Yes.

A: Yes, you may, provided your financing terms meet HLB's criteria.

A: You may visit the nearest Hong Leong Bank branches or call our Call Centre to speak to our Customer Relationship Officer at 1-800-38-8888.Alternatively, you may apply on-line through www.hlb.com.my.

A: As per current practise i.e. application form, Letter of Offer, Facility Agreeement & etc.

A: No.

A: Yes, the customer's current account will be closed if he / she incur 3X bad cheque offence.

A: Upon closure of account, customers will not enjoy the benefits on integration of balances as stated in Q3 above.

A: HL MortgagePlus provides:-

• Savings
• Flexibility
• Attractive Rates
• Convenience

• Residential/ Non-Residential properties only
• Individual customers

• Individual Applicant