1. Who is eligible to apply for this campaign?
All Malaysian citizens, earning at least RM2,000 per month, aged between twenty (21) to sixty (60) years old, and whose monthly basic salary is credited to Hong Leong Bank’s savings or current account/-i, is eligible to apply for this campaign.
2. What are the documents required for me to apply for the 20-day interest free Personal Loan?
If your salary is credited to Hong Leong Bank’s savings or current account/-i, no documents are required. Application and disbursement are just a click away!
3. After applying, what can I expect?
Upon submitting your application via Hong Leong Connect, you will immediately receive an SMS and email to notify you that your application has gone through. You will then receive another SMS and email within forty –eight (48) hours that update you on the status of your application.
4. I am having issues applying online. Who can I look for?
Please call us at 03-76268899 and our friendly staff will support you through your online application process.
5. How do I settle my loan within 20 days and how do I pay for my monthly instalments?
We have made it easy for you to settle your twenty (20) days loan. Log in to your internet banking on Hong Leong Connect and click on “Settle Now” to arrange a transfer from your Hong Leong current or savings account/-i to settle your loan. As for monthly instalment, you can pay via internet banking/IBG GIRO or Instant Transfer or transfers via any Hong Leong ATM.
6. If I have taken a personal loan under this campaign once, can I do it again?
Yes, you may apply for it again during the campaign period as long as you have fully settled the earlier personal loan under this same campaign. Your new application will however be subject to fresh credit checks to determine your eligibility for the loan.
7. Are there any interest(s) or fee(s) associated with the personal loan taken under this campaign?
There is no interest charged should you settle the loan within 20 days from the disbursement date. However, if you do not settle within 20 days, a 12.5% p.a interest rate shall be applicable to the Personal Loan for the full loan tenure. Stamp duties of 0.5% of the approved loan amount and Convenient Fee of RM75.00 + GST 6% (GST at 0% effective on 1/6/2018) will be deducted from the loan amount upfront prior to disbursement. Late fees of 1% p.a. on the amount owing applies. Please refer to the Product Disclosure Sheet for further details.
8. What happens to my Personal Loan if I did not settle the Personal Loan within the 20 days interest-free period?
You are required to pay the monthly instalment amount throughout the full loan tenure that you have selected when you apply for the loan.
You may still choose to settle the loan early (before loan maturity) by giving three (3) months’ prior written notice to the Bank, or payment of three (3) months’ interest on the amount redeemed, in lieu of notice. A rebate for early settlement on the remaining interest to be charged will be granted to the Borrower over the unexpired period commencing after the three (3) months’ notice period. You can only settle the loan by visiting any of our Hong Leong Branches.
9. Will there be credit checks when I participate in this campaign?
Yes, we perform credit checks to determine your eligibility for personal loan.
10. Why was my application not approved?
While we strive to offer all creditworthy applicants personal loan, we simply are not able to approve every loan application. If we are not able to approve your personal loan application, we will immediately notify you of our decision.