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%)
|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|
|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)|
|Nationality||Residents and non-residents of Malaysia|
|Applicant Type||Documents Required|
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.
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.