A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • Home Loan BYTES FROM OUR KITCHEN

    HSBC Ideal Home Plan

    The HSBC Ideal Home Plan is the right loan facility if you prefer paying fixed monthly instalments. You can choose this scheme if you do not foresee making extra payments on the loan. The facility ideal if you are buying your first home.

    Loan Amount Up to RM250,000 in Peninsular Malaysia. Up to RM300,000 in East Malaysia.
    Finance Margin Up to 90%.
    Loan Type Term Loan.

    Features and Benefits

    • Make fixed monthly instalments every month.
    • No need to pay a monthly fee and set-up cost.
    • Get high margin of financing of up to 90%.
    • Keep your property and yourself protected with the takaful products.

    Fees and Charges

    Late Payment Charge 1% of the arrears amount.
    Processing Fee None.
    Stamp Duty According to the Stamp Duty Act 1949 (Revised in 1989).

    Eligibility Requirement

    Age 18 years to 65 years of age.
    Property Value Peninsular Malaysia: Up to RM100,000. East Malaysia: Up to RM120,000.
    Others Your home must be your only residential property.

    Documents Required

    Common Documents
    • A copy of your identity card or passport.
    • Sale and Purchase Agreement/booking receipt/letter of offer from the developer.
    Salaried Employees
    • Latest 3 months’ salary slip.
    • Latest income tax return form or Form EA or latest EPF statement.
    • Letter of Appointment or Confirmation from the employer (must be in service at least for 3 months now).
    • Latest bank account statement showing the salary credited to the account in the last 6 months.
    Self-employed Individuals
    • Business registration certificate.
    • Latest 6 months’ bank account statement.
    • Latest financial statements.

    How to Apply

    Offline Application
    • Visit the nearest bank branch.
    • Express your interest in applying for the loan.
    • Fill up the application form and attach the required documents.
    • Submit the application to the staff.
    Online Application
    • Visit the bank’s official website.
    • On the loan’s page, click on the “Let’s Talk” button.
    • Fill up the required details and submit the form.
    • The bank representatives will get in touch with you to explain the application process.

    Own your dream house at fixed monthly instalments with the HSBC Ideal Home Plan. You can pay affordable monthly instalments each month with this facility. Do read the terms and conditions before applying for a loan.

    FAQs

    Q. Should I pay an early termination fee if I settle my loan before the set tenure?

    A. Yes. You will be required to pay an early termination fee if you settle the loan before the set tenure.

    Q. What happens if I fail to pay my monthly instalments?

    A. You will incur late payment charges if you fail to make your payments on time. Missed payments also will affect your credit score negatively.

    Q. Is it mandatory to protect the property with a Takaful plan?

    A. No. Buying a Takaful product is optional. However, it would be recommended to secure your property with a Takaful plan.

    Q. Can I refinance an existing home loan with this scheme?

    A. No. The HSBC Ideal Home Loan only offers fresh loans, and does not allow refinancing.

    Q. How often is the interest calculated?

    A. The interest is calculated every month.

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