HSBC HomeSmart-i
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HSBC HomeSmart-i

HSBC HomeSmart-i is a home financing plan offered by HSBC Amanah Malaysia Berhad. The plan is based on the Shariah concept of Diminishing Musharakah. It is calculated on variable rate basis.

Read below to find out more about the financing package.

Margin of Financing Up to 90% of the current market value or net purchase price (subject to credit evaluation by the bank)
Financing Tenure A maximum tenure of 35 years or up to 65/70 years of age, whichever is earlier
Type of Properties Covered Under construction properties, completed properties, sub-sale, and refinancing
Type of Loan Flexi
Profit Rate (p.a.) BR + 1.11%
Effective Lending Rate 5% p.a.

(Current Base Rate (BR) = 3.89%)

Features and Benefits

  • You can make prepayments any time without giving a prior notice to the bank or without paying any charges.
  • You can also withdraw excess payments as per your requirement without giving any prior notice. No fee/charges are imposed for this.
  • Get a stamp duty waiver of 20% on financing documents while purchasing a new home.
  • Consolidate all your deposits such as savings, salary, and bonus into one HomeSmart-i account.
  • You can also refinance your existing conventional home loan with HomeSmart-i facility.
  • During unfortunate situations, you can also protect yourself and your family from the burden of home financing by obtaining a Takaful Reducing Term Cover (TRTC) and/or a Homeowner Takaful Scheme.
  • No processing fee is imposed for this home financing scheme.

Fees and Charges

Stamp Duty Charges As per the Stamp Act 1949 (revised in 1989)
Legal and Disbursement Charges Includes applicable legal fee and other charges as per the bank’s discretion
Processing Fee Nil
Monthly Service Charges RM10 per month throughout the tenure (plus applicable tax, if any)
Additional Rental Charge RM40 per month (if average utilisation rate is less than 50% for that month)
Late Payment Fee 1% p.a. on the overdue instalment amount (during the financing tenure) As per the rate of Malaysia’s Islamic Interbank Money Market (IIIM) (after the completion of the tenure)

Eligibility

Age Requirement
  • Minimum age: 18 years
  • Maximum age: 65/70 years
Nationality Residents and non-residents of Malaysia

Documents Required

Applicant Type Documents Required
Salaried Applicants
  • A copy of identity card or passport
  • Latest payslips (for 3 months)
  • Latest form of income tax return (Form B/BE), or
  • EA Form, or
  • Latest EPF statement (not more than 12 months old)
  • Letter of appointment or letter of confirmation from the employer (for new salaried employees)
  • A copy of the land title (if applicable)
  • Latest bank statements showing salary credited in the account for 6 months (this is compulsory in case of the absence of salary slips and/or EA Form)
Self-employed Applicants
  • A copy of identity card or passport
  • Business registration certificate
  • Latest bank statements (for 6 months)
  • Latest financial statements
  • Other income proof related documents (if applicable)

How to Apply

Online Application
  • Visit HSBC Amanah’s official website.
  • Click on HomeSmart-i financing package.
  • Click on ‘Apply Now’ tab.
  • Fill in the form with all the necessary details like your name, contact number, property type, and address.
  • Submit the form.
  • A bank representative will contact you for further procedure.
Offline Application
  • Visit the nearest branch of HSBC Amanah.
  • Collect an application form for the financing facility.
  • Fill in the application form with all required details and submit it.
  • Officials from the customer support department will contact you regarding your application.
Via Telephone
  • Dial 1300 80 2626 to talk to the bank’s customer service department executives.
  • The bank representatives will guide you regarding your home financing application.

HSBC HomeSmart-i scheme offers flexible tenures to repay your financing amount. Both Malaysian as well as non-Malaysian citizens can apply for this home financing scheme. Consider this plan if you are looking for a home financing package that functions on Islamic principles.

FAQs

Q. Do I need to have a takaful cover?

A. The bank advices you to take a takaful cover against fire, strike, explosion, and other damages.

Q. What is the minimum financing tenure available for HomeSmart-i facility?

A. You can obtain a minimum financing tenure of 6 years for this home financing scheme.

Q. What is the minimum financing amount obtainable under this scheme?

A. You can obtain a minimum of RM50,000 of financing under this plan.

Q. What is the maximum amount of financing that is offered under HomeSmart-i?

A. You can get as much as RM5 million of financing under this plan.

Q. What are the ways to access my HomeSmart-i account?

A. You can access your account via internet banking, phone banking, cheque, and ATM.  

 

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