Hong Leong Housing Loan
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Hong Leong Housing Loan

Hong Leong Housing Loan is one of the home financing schemes offered by the bank. Housing Loan is a term loan which offers extra margin to facilitate the premiums of Mortgage Decreasing Term Assurance. The article aims to give you a definite idea on how the loan facility works.

Interest Rate Type Variable.
Loan Type Term Loan/Term Loan + Overdraft Facility; Flexi Loan.

Features and Benefits

  • Get an optional overdraft facility with the term loan.
  • Enjoy hassle-free application process with the assistance of the mortgage consultant.
  • Make flexible repayments i.e. extra payments at any time based on your convenience.
  • Set standing instructions on your HLB/HLIB savings or current account for the payment of your loan instalments.

Eligibility Requirements

Type of Application Individual Applicants.
Type of Property Residential Properties only.

Documents Required

Salaried Employees
  • Latest 3 months’ pay slips.
  • Latest Borang BE with the tax payment receipt.
  • Latest EPF statement.
  • Latest 3 months’ bank statement.
  • Employment letter.
Self-employed individuals
  • Latest 6 months’ bank statement.
  • Recent Borang B with the tax payment receipt.
  • Latest 6 months’ commission statements.
Sole-Proprietorship/Partnership
  • Valid Business Registration Certificate.
  • Valid Business Renewal License.
  • Latest Borang B with the tax payment receipt.
  • Latest 6 months’ business account statement.
Self-employed—Company Director
  • Form 9/Form 13.
  • Valid Business Registration Certificate.
  • Latest Borang B with the tax payment receipt.
  • Latest 6 months’ business account statement.

How to Apply

Online Application
  • Visit the bank’s website.
  • Click on the “Apply Now” button on the loan page.
  • Enter your contact details and income specifications on the form and submit.
  • A bank representative will call you within a working day to discuss the loan.
Offline Application
  • Visit the bank branch.
  • Discuss with the staff about the product’s application procedure.
  • Fill up the application form and attach the required documents.
  • Submit the application to the branch.

Conclusion

Realise your dream of owning a house with the Hong Leong Housing Loan scheme. The loan tenure varies on an individual case basis. Enjoy the flexibility of making early payments and re-draw them as and when required.

FAQs

Q. What is the current base rate?

A. The base rate as updated in June 2018 by the bank is 4.03%.

Q. How do I get to know the loan amount I am eligible for?

A. Visit the “Home Loan Calculator” section on the website of the bank. You can enter the required details to find out the possible loan amount you are eligible for.

Q. Is the interest rate calculated on a monthly basis?

A. No. The interest rates are calculated on a daily basis.

Q. How do pay my monthly instalments?

A. The bank offers multiple payment modes, such as:

  • Cash deposit machine.
  • ATM transfer.
  • Cheque deposit machine.
  • At the nearest branch.

Q. How do I meet the mortgage consultant?

A. The mortgage consultant will visit you at your home or office to assist you through the application process.

 

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