Frequently Asked Questions - Financing


Q: How secure is my online financing application?

A: In order to apply online, your browser must support SSL (Secure Sockets Layer) protocol (most browsers do). With the SSL protocol, your application information will be encrypted prior to transfer to us, thereby providing you with an additional assurance of privacy and security.


Q: Will I face difficulty in signing up online?

A: No, you should find this Online Property Loan Application easy to fill up. Just complete the loan application form. There are guidelines throughout the whole process.


Q: How do I qualify for the Online Property financing Application?

A: Hong Leong Islamic Bank Berhad will evaluate each financing application based on its merits. Generally, the approval is based on applicants' personal resources, repayment capabilities, past payment patterns, legislative and Hong Leong Islamic Bank Berhad's requirements.


Q: How long does it take to process an online application?

A: All application will be given promptly attention and our Sales staff will be contacting you within 1 working day to explain our Property Financing Packages and arrange for an appointment with you.


Q: What properties do Hong Leong Islamic Bank Berhad finance?

A: We finance residential properties under the Hong Leong Islamic House Financing and commercial properties under the Hong Leong Islamic Shop Financing.


Q: What is the Financing Tenure for Hong Leong Property Financing?

A: Maximum 30 years or up to age 65.


Q: What is the margin of financing for Property Financing?

A: Up to 90% on the purchase price or open market value, whichever is lower and it is subject to eligibility.


Q: Can I apply for a combination of term financing plus cashline?

A: No, cashline is not available at the moment.


Q: Is the profit rate calculated based on daily or monthly rest?

A: Hong Leong Property Financing profit rate is calculated on a daily rest basis.


Q: What benefits can Hong Leong Property Financing provide?

A: Hong Leong Islamic Property Financing allows flexibility of making extra payment on your property financing without prior notice and save you on profit payment. It also allows you to redraw the prepaid amount or part thereof whenever you need it.


Q: Can I opt for Multi-tier Installment for Property Financing?

A: Yes, however the multi-tier installment is only applicable to completed residential properties with value above RM100,000.


Q: What documents do I need to submit?

A: You are required to furnish your personal and income documents upon application.


Q: Can I have a joint-applicant on the financing?

A: Yes.


Q: How long is the approval good for?

A: Approval is good for 14 days from date of the Offer Letter. However, Hong Leong Islamic Bank Berhad reserves the right to withdraw the financing approval and / or to vary the financing terms and conditions without prior notice.


Q: How do I make my monthly payments?

A: Payments can be made by standing instruction, cash, cheque at any of the Hong Leong / Hong Leong Islamic Bank branches nationwide or also via Hong Leong Online.


Q: Is there an auto debit payment option?

A: Yes, successful applicants need to open a Saving Account/Current Account and maintain a Standing Instruction (SI) for automatic monthly payments.


Q: How long does it take to process a financing?

A: 2 to 3 days upon receiving of full documents.


Q: What is Mortgage Reduction Takaful Term (MRTT)?

A: An takaful to protect the customer for the financing sum or outstanding financing in case of death or total permanent disability.


Q: Can I finance my Mortgage Reduction Takaful Term (MRTT) contribution?

A: Yes, you can either pay cash or add in the loan amount but it is subject to a maximum of up to 5% of the property value or purchase price, whichever is lower.


* The above is subject to terms and conditions.

For enquiries connect with us online or drop by your nearest Hong Leong Bank Branch.