With Hong Leong Bank’s latest promotional offers on its personal loan facility, you can enjoy a range of benefits such as cash vouchers or cashback on interest paid. The promotional offers also include instalment plans.
To earn an RM100 cash voucher, all you have to do is to show your credit card statement that has an outstanding balance, to the bank officials. The officials will then show how you can save on the interest/profit charge. If they fail to do so, you are entitled to win the cash voucher.
Moreover, if you consolidate your debts with the bank, you can enjoy a cashback of 10% on the interest/profit rate charged.
The campaign is valid from 1 March 2018 to 30 April 2018.
The eligibility criteria to qualify for the promotion are:
There are 2 ways of getting a RM100 cash voucher from the bank. You have to go to the bank’s official website and click on the ‘I am interested’ tab for this promotion. Here, you will have to fill in a form with all the required details such as personal information, bank account number, etc. The bank representatives will then contact you to carry the process forward. If the representatives fail to show you the way to save on the interest, you can win a RM100 cash voucher.
Alternatively, you can visit the nearest branch with your credit card statement and outstanding balance details. If the bank officials could not show you the way to save on the interest charged, you can win the voucher.
Here’s how you can save by consolidating your credit card debts: (illustration)
|2 of your credit cards with debts of RM25,000||Credit card of bank A (x)||Credit card of bank B (y)||Before consolidating: z = x + y||After consolidation with HLB||Total savings after consolidating|
|RM15,000||RM10,000||RM25,000||RM25,000||RM33,670 – RM28,750 = RM4,920.04|
|Total payment made||RM20,584.40||RM13,085.64||RM33,670.04||RM28,750.00|
*(EIR = Effective Interest Rate) (The calculation is based on a personal loan plan with a 2-year tenure)
On consolidation, you can get 10% cashback on your payable interest rate. The savings on interest is shown using the same example given above
|Loan amount||Tenure||Annual interest rate (flat rate)||Payable interest for a 2-year facility (RM)||10% cashback given (RM)||Total interest rate to be paid through campaign|
|x||y||z||Interest = (x) x (y) x (z)||Cashback earned = Interest x 10%||Total payable interest = (Interest rate - cashback)|
You can apply for the bank’s personal loan facility in the following ways:
Q. Can the bank’s employees participate in this promotional campaign?
A. No. The bank’s permanent or temporary employees cannot participate in the promotional campaign.
Q. Can I benefit from this campaign if I am a customer of Hong Leong Islamic Bank?
A. Yes, being a Hong Leong Bank customer, you will be eligible for this campaign through your HLISB Personal Financing-i Consolidation facility.
Q. Is this offer available for non-residents of Malaysia?
A. No, only Malaysian individuals can take part in this campaign.
Q. What is the minimum and maximum eligible amount for this scheme?
A. You have to apply for the personal loan consolidation scheme with a minimum amount of RM5,000 and it goes up to RM250,000. For Islamic bank customers, the maximum amount is limited to RM150,000.
Q. When will I receive my first cashback?
A. You will receive the payment of your first cashback after you pay your seventh monthly instalment.
You can get 60% cashback on the interest charged if you are a new customer and have an approved and disbursed HLB personal loan. As an existing customer, you can win 50% cashback on the interest charged on your personal loan plan.
(For online applicants/customers who apply through www.hlb.com.my or www.hlisb.com.my)
|Type of a Customer||Eligible Cashback (%)||Amount Approved|
|New Customer||60%||RM5,000 to RM250,000|
|Old Customer||50%||RM5,000 to RM250,000|
(For applicants via am:pm counters at selected branches)
|am:pm Customers||Eligible Cashback (%)||Amount Approved|
|60%||RM20,000 and above|
|40%||RM5,000 to RM19,000|
(For applicants who apply through HLB branches or personal loan sales staff)
|Applicants via Bank Branches and Personal Loan Sales Staff||Eligible Cashback (%)||Amount Approved|
|40%||RM5,000 to RM250,000|
For tenures of 2 years to 5 years, here’s a spread of interest rates charged against the sanctioned loan amount:
|Gross Income||RM2,000 to RM3,999 per month||More than RM4,000 per month|
|Loan Amount Sanctioned||Interest Rate||Interest Rate|
|RM5,000 to RM19,000||12.50%||12.50%|
|RM20,000 to RM49,000||12.50%||12.50%|
|RM50,000 to RM99,000||12.50%||11%|
|RM100,000 to RM149,000||12.50%||10%|
|RM150,000 to RM250,000||12.50%||9%|
The promotion is valid from 1 March 2018 to 30 June 2018.
If you are a new customer, you will get a cashback of 60% on your interest if you have taken a loan between RM5,000 and RM250,000. Being an existing customer, you will get a cashback of 40% on your interest charged. The same mechanism is applied for the customers who have applied via am:pm counters of the bank, depending on their approved loan amount.
For the ones who have applied via branches and staff, they will get 40% cashback on their interest for approved amount between RM5,000 to RM250,000.
The interest rates are charged according to the approved amount and it can go up to a maximum of 12.50% p.a.
The terms and conditions applicable to the personal loan promotion are:
Q. What are the available loan tenures for the personal loan facility?
A. As per your loaned amount and income, you can obtain a financial tenure between 2 to 5 years.
Q. What is the minimum approved facility to earn 60% cashback for customers who have applied via am:pm?
A. To earn cashback of 60%, the minimum approved amount is RM20,000, however, you can get 40% cashback for the approved amount ranging from RM5,000 to RM19,000.
Q. What is the age criterion for this facility?
A. You need to be at least 21 years old to apply for the facility.
Q. Can I get a cashback if I miss the due date for my payments?
A. You are eligible for cashback under this campaign only if you pay your monthly instalments on or before the due date.
Q. Can the bank’s employees get the benefit of the promotion?
A. No. The bank’s permanent or temporary employees cannot participate in the promotion.
Travelling can be much affordable with Hong Leong Bank’s Travel Happy Campaign. In partnership with Malaysian Harmony Tour and Travel Sdn Bhd, through this campaign, you will get 15 all-inclusive luxury travel packages that are affordable through competitive interest rates and flexible tenures of repayment.
|Tenure||1 year||2 years to 3 years||4 years to 5 years|
The offer is valid from 1 March 2018 to 31 August 2018
You can apply online for this facility. You need to go to the bank’s official website and click on the ‘Apply Now’ tab. You need to submit the application form for the campaign and submit it online. The bank representatives will call you regarding the further procedure.
Alternatively, you can also call Hong Leong Contact Centre on +603 7626 8899 and speak to the customer relationship officer. He/she will guide you through the application process.
You can also visit your nearest branch of the bank to get the application form for personal loan facility under this campaign.
In all cases, you will have to provide the set of mandatory documents along with your application.
Q. Will I get cash out facility with this personal loan facility?
A. Yes, you can apply for cash out facility if you require cash for your travel or any other purposes.
Q. Can we apply for a sum which is less than the cost of the travel package?
A. Yes, you can apply for a lesser amount but it needs to be minimum of RM5,000.
Q. Will there be any credit assessment if I apply for a loan under this campaign?
A. Yes, there will be credit assessment conducted from the bank’s side, when you apply for the personal loan facility under this campaign.
Q. Can I terminate the loan facility?
A. Yes, you can terminate your loan facility by providing a notice 3 months in advance. If you are cancelling your travel package and have authorised Hong Leong to disburse the funds to the travel partner, the deposit cancellation terms and conditions will apply.
Q. What are the available modes of payment?
A. You can pay your monthly instalments via internet banking, online transfer facility, Interbank Giro (IBG), or you can also transfer via ATMs.