Cash woes? A personal loan to the rescue!

    IOU Personal Loan

    The Mach IOU Personal Loan is an unsecured personal loan scheme offered by the Hong Leong bank on a flat rate basis. The financing scheme comes with a fast approval facility and also gives cashback on the interest paid to the customers who make prompt monthly repayments.


    Interest Rate (p.a.) 7% p.a. to 13.5% p.a.
    Loan Tenure Up to 5 years
    Max. Loan Amount RM250,000
    Debt Consolidation No
    Islamic/Conventional Conventional

    Interest Rates

    Loan Amount Tenure Interest Rate Effective Interest Rate
    RM5,000 to RM250,000 2 to 5 years 7% p.a. to 13.5% p.a. 12.38% to 24.82%

    Top Reasons to take a Mach IOU Personal Loan

    • Borrowers can enjoy fixed monthly instalments throughout the tenure of the loan
    • Borrowers can get the personal loan worth RM5,000 to RM250,000 under this scheme.
    • The instalment tenures range from 2 years up to 5 years.
    • A customer can enjoy fast approval and disbursement.
    • Loan amounts up to RM50,000 can be disbursed within an hour from the Mach branches.
    • No guarantor or collateral is required to successfully acquire the loan.
    • If a customer makes prompt monthly repayments, he/she can get a cashback of 20% on his/her interest charges.
    • Hong Leong Connect facility allows easy monthly repayments through the Money Box account.
    • The bank provides an annual e-statement facility enabling easy tracking of the IOU repayments.
    • A customer can get an effective interest rate starting from 12.38% p.a. up to 24.82% p.a. depending upon the loan tenure.
    • The monthly instalment payments can be made through various modes including Standing Instructions from your Hong Leong Bank, internet banking, ATM transfer, by cash or cheques and also by visiting the nearest branch.

    Fees and Charges

    Fee type Fee details
    Stamp Duty Fee 0.5% of the approved loan amount upon disbursement
    Interbank GIRO (IBG) Transaction Fees (if applicable) RM2.12
    Administration Fee No fee charged
    Processing Fee No fee charged
    Early Settlement Fee No fee charged
    Late Payment Fee 1% above the prescribed interest rate on the overdue instalment or a RM25.00, whichever is higher

    Eligibility Criteria

    The eligibility criteria for the Hong Leong Bank’s IOU Personal Loan are given below:

    • Nationality criterion: Malaysian citizens and the Malaysians working in Singapore.
    • Age criterion: The applicants must be at least 21 years old at the time of application and must not be older than 60 years by the end of the facility period.
    • Employment criteria: Self-employed or salaried earners.

    What documents do I need to prepare for this loan application?

    As a salaried employee, an applicant requires:

    • Identity proof such as MyKad, NRIC, or passport
    • Income proofs such as salary slips, bank statements, Form BE with tax payment receipt etc.

    How to apply for Mach IOU Personal Loan?

    Offline Application: Interested applicants can visit the nearest Mach branch and request to apply for the loan.

    Online Application: Applicants can also choose to apply for the loan online by submitting the required information on the Mach website after which a bank representative will contact them to take the process forward.


    Q. Do I have to pay any early settlement charges if I pay off my loan earlier than the expected period?

    A. No, you do not need to pay any early settlement fees.

    Q. I am a Malaysian citizen but currently I am working in Singapore. Can I apply for the Mach IOU Personal loan?

    A. Yes, you are qualified to apply for the Mach IOU Personal Loan.

    Q. How can I apply for Standing Instructions?

    A. You can apply for Standing Instructions through Hong Leong Connect or HLBB conventional branches near to you.

    Q. Can the bank recover for my instalments via my credit balance in the account?

    A. If the monthly repayment is not made within the allotted due date, the bank may set off any credit balance maintained with the bank against the outstanding balance in the financing account.

    Q. How much cashback do i get and how?

    A. You can get up to 20% cashback on the interest paid towards the loan when you make the monthly payments on or before the due date for 12 consecutive months.

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