Hong Leong Bank Berhad (HLB) Personal Loan

Hong Leong Bank Berhad is part of the Hong Leong Group Malaysia, one of the largest Asian conglomerates with stakes in banking, property development and investment, hospitality and leisure, principal investment, and manufacturing and distribution.

Compare Personal Loans by Hong Leong Bank Malaysia

Hong Leong is a multinational bank with 300+ Branches. They offer 13 different Credit Cards, 2 Personal Loans and 7 Mortgages.

About the loan

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Promotion Period

  • 1 Aug 2020 - 31 Oct 2020

Features & Benefits

  • Apply for a Personal Loan or Financing-i anytime, anywhere
  • Affordable Instalments over a tenure of 2 to 5 years
  • Enjoy exclusive low flat rate at 6.66% p.a.

Eligibility

  • Malaysian citizens
  • Between 21 to 60 years old
  • Minimum annual income - RM 24,000
  • Minimum loan or financing amount - RM 5,000
  • Maximum loan or financing amount - RM 250,000 (Up to RM150,000 for Personal Financing-i).
  • Exclusively for CompareHero applicants only

Interest / Profit Rate

Loan / Financing
Amount
Flat Interest / Profit RateLoan / Financing
Tenure
RM 5,000 - RM 250,000
(up to RM150,000 Personal Financing-i)
6.66% p.a.2 to 5 years

Note: The effective interest/profit rates vary from 11.95% p.a. to 12.31% p.a. depending on the loan/financing-i tenures from 2 years to 5 years.

Fees & Charges

ItemCharges / Fees*
Stamp Duty0.5% of the disbursed facility amount**
IBG FeeRM2 for every Interbank Giro (IBG)
Late Payment Charge1% p.a. on the outstanding amount calculated on a daily rest basis
Early SettlementNo extra charges or fees if you provided 3 months' of written notice to the Bank before the early settlement.
Compensation Charges
(Personal Financing-i only)
For default payment during facility tenure = 1% p.a. on the overdue instalment amount

For default payment causing the facility to be terminated or brought to court = 1% p.a. on the outstanding balance (outstanding principal plus accrued profit)

For default payment after expiry of facility tenure = BNM Islamic Interbank Money Market (IIMM) rate on the outstanding balance (outstanding principal plus accrued profit)

For default payment post judgment = IIMM rate on the basic judgment sum


* Subject to Government Tax where applicable

** Stamp duty - 0.5% of the facility amount will be deducted upon disbursement

Documents Required

Fill up the online form on CompareHero and submit latest:

  • 3 months' pay slip and bank statements
  • 1 year KWSP / EPF statement
  • 2 years' LHDN e-filing summary page

References

[last updated: 3 Aug 2020]

Hong Leong Malaysia has been a dynamic player in the financial service industry since it was initially established in Kuching, Sarawak in 1905. With over 100 years of banking knowledge and expertise, Hong Leong Bank Berhad has acquired leading market positions with an esteemed brand and successful business franchise.

After its merger with EON Bank Group in 2011, the bank has effectively been converted into a banking group with assets worth over RM145 billion and an extensive network of 329 branches countrywide.

Hong Leong (HLB) provides fast approval for personal loans with zero collateral for Malaysian citizens. With over a hundred years of banking experience and 329 branches spread all across Malaysia, Hong Leong has established itself as a strong player in the banking industry. Applicable for all Malaysians over 21 years of age with an annual income of minimum RM 24,000, Hong Leong offers easy personal loans with a tenure of 2 to 5 years for up to a maximum loan of RM 250,000. 

With a flat interest rate as low as 5.60% and cashback on the interest, Hong Leong has a solid personal loan offer for anyone with a need for financing. Whether you are an entrepreneur, salary holder, or self-employed, Hong Leong has a fast approval easy loan for you!

Fees And Charges For A Hong Leong Personal Loan 

Hong Leong is one of the leading banks in Malaysia. Their transparent fees let their customers know exactly how much needs to be paid. Here is a table showing all their fees for a personal loan:

Processing FeeNo processing fee
Stamp Duty0.5% of the total amount
Early Termination FeeNo early termination fee for 3 months prior notice
Otherwise, 3 months of interest fee will be charged
Late Penalty Fee1% of total outstanding amount at a daily rest basis
IBG FeeRM 2 (if applicable)

Interest Rates For A Hong Leong Personal Loan

For a loan tenure of 2 to 5 years (24 to 60 months), HLB offers the following interest rates for personal loans:

Loan Amount
Interest Rate Per Annum
RM 5,000 to RM 250,0006.66% p.a.

Hong Leong also offers Personal Financing-i loans at the same interest rates, however, with a maximum limit of RM 150,000.

Eligibility Requirements For A Hong Leong Personal Loan

Hong Leong offers fast approval personal loans to Malaysian citizens if they match the following criteria:

Age
21 to 60 years old
Minimum Annual Income
RM 24,000
Minimum Loan
RM 5,000
Maximum Loan
RM 250,000

Documents Required  For A Hong Leong Personal Loan

If you apply for a Hong Leong fast approval personal loan through CompareHero, you’ll need to have the following items on hand:

Document Type
Time Period
Payslips and Bank StatementsLatest 3 Months
KWSP / EPF StatementLatest 1 Year
LHDN E-filing Summary PageLatest 2 Years

Why Should I Apply For A Hong Leong Personal Loan?

Hong Leong has one of the most lucrative personal loan deals in Malaysia. Their exclusive offer for CompareHero applicants cover easy personal loans at a flat rate as low as 6.66% per year.

Depending on your salary and credit score, you can borrow as little as RM 5,000 to as high as RM 250,000 without any guarantor or collateral. You also get the hassle-free option to pay the loan back in 2 to 5 years at a flat interest rate. Moreover, you can also avail a 20% cashback offer on the interest.

Approved within 2 days, their easy personal loans are available for any Malaysians with an annual income of only RM 24,000. Whether you need to finance your wedding, pay college fees, go on a holiday, or pay for any other personal expenses, Hong Leong has got you covered! 

How Fast Is The Application Process For A Hong Leong Personal Loan?

Hong Leong offers fast approval personal loans to all Malaysian citizens with a turnaround time of 48 hours (2 days). Once approved you can receive the money through one of these two ways:

  1. Via your account at Hong Leong Bank.
  2. Transferred to your account from another bank (subject to IBG Fee)

How To Make Monthly Installments For A Hong Leong Personal Loan?

Hong Leong has made it one of their top priorities to make payments more convenient for their customers. You can pay through the internet, cash, or even from your savings account. Here is a list of hassle-free payment methods for your monthly installments:

  1. Cash deposit
  2. Any internet banking service
  3. From current account
  4. From savings account

Your installments are made monthly at the first of every month until you have completed your tenure and paid back the loan in full.

What Happens If You Make Late Payments For A Hong Leong Personal Loan?

The late penalty fee at Hong Leong is 1% of the total outstanding amount on a daily rest basis.

Late payments can have negative impacts on your credit score. The first thing banks will look into after your loan application is your previous payment history for other loans. Whether you’ve paid your loan on time or missed any of your payments, it can affect your credit score and impact the banks' decision to grant you any new loans.

Even if the bank grants your personal loan, they may charge you higher interest rates because of your poor credit rating. To be on the safe side and have a good credit rating, you should always try to be responsible for making payments and pay your loan on time.

What Happens For Early Hong Leong Personal Loan Settlement?

While many banks out there charge you a fee or penalty for settling your loan early, you can pay your Hong Leong personal loan off early without any such penalty or fee. However, you need to provide written notice to Hong Leong Bank 3 months' prior to the early settlement.

What If You Have A Bad Credit History Or Bad Credit Score?

Banks can retrieve your previous financial information from CCRIS and CTOS. However, these credit-reporting services do not blacklist anyone themselves. It’s up to the bank to decide what to do with the information they get from CCRIS or CTOS.

If you have a habit of late payments, it can lead to bad credit rating and credit history. You may have trouble getting your loan approved if the bank thinks that you are a credit risk and will not pay the installments on time. You may also get charged a higher interest rate for your previous credit history. You can start improving your credit score by paying your bills on time and keeping your debts low.

During this campaign period (1 Aug 2020 - 31 Oct 2020), you can apply for a Hong Leong Bank Personal Loan or Financing-i for tenure of 2-5 years, and enjoy exclusive low flat rate from 6.66% p.a.

No. This campaign is only applicable for Hong Leong Bank Personal Loan / Financing-i with tenure of 2-5 years.