Hong Leong Islamic Bank Home Financing-i

Shariah-compliant Flexi Property Financing-i property financing provided by Hong Leong Islamic Bank offers rebates to customers for the bank's ceiling price under the ibra -principle. It is based on daily profit calculations but provides protection from interest rate increases through a ceiling rate. Hong Leong Islamic Bank's full-flexi home loan has a lock-in period of 3 years and you can expect an early settlement fee of 3% if you want to complete the loan repayment within this period. This is a common condition when compared to other home loan products on the market. Hong Leong term loans offer no lock-in period. The financing margin offered by Hong Leong Islamic Bank can reach up to 90% + 5% and the maximum loan tenure is up to 30 years OR until the age of the borrower reaches 65 years.

Hong Leong Islamic Bank's Shariah-based housing loan package in the form of term loans and Flexi Property Financing-i is specially designed for Islamic banking customers. The main features of these products are summarized below for your comparison.

Product	Key Features	Is this a flexi package?
Hong Leong Flexi Property Financing-i	Make more payments without the need for prior notice or fees Exemption on stamp duty for refinancing cases The daily rate calculation method offers savings on payments made	Yes, Full-Flexi
Term Loan	Fixed installment payments to control the flow of money Exemption on stamp duty for refinancing cases The daily rate calculation method offers savings on payments made	No

The Flexi home loan package allows borrowers to repay in excess each month in order to lower their monthly interest charges. This package comes with conditions and fees that need to be considered apart from its own benefits.

	Flexi Property Financing-i
Flexi type	Semi-flexi
Is a linked bank account required?	No
Account Maintenance Fees	No
Redrawal Fees	No
Redrawal Terms & Condition	No

Applicants must be at least 21 years old. Foreigners can apply subject to different conditions as well as lower financing margins.

If you have applied for a Hong Leong Islamic Bank Home Loan, you will be required to provide some supporting documents for the bank to process your application. The documents are as follows:

• Application Form
• Identity Card
• Copy of Sales and Purchase or Booking Receipt or Letter of Offer from the developer
• Copy of Individual Title Deed
• Property Valuation Report (for completed properties)
• Latest salary slip / voucher (3 consecutive months)
• Latest Commission Statement (6 consecutive months)
• Latest EPF Statement (3 consecutive months)
• Latest EA Form
• Latest Bank Statement (6 consecutive months)
• Employment and Remuneration Confirmation Letter

You can use Hong Leong Islamic Bank's home loan calculator to calculate your monthly repayment amount, based on the value of the dream property and the loan amount. When you are ready to apply, you can do a free inquiry through iMoney and we will contact you. Applying for a home loan through iMoney is free. If you are not sure whether a home loan from Hong Leong Islamic Bank is the best option for you, click here to compare other home loans in Malaysia.

Repaying your Hong Leong Islamic home loan is easy. Here are some ways you can do it.

Online Transfer
: Transfer money from your Hong Leong Islamic Bank Savings or Current Account to make payments online.

MEPS
: Pay off your loan through MEPS ATM machines (over 5,000 locations) nationwide.

Interbank GIRO
: Repay your loan via Interbank GIRO money transfer at a registered bank branch or through online banking.

Standing Instruction Facility
: Automatic deduction from your bank account every month.

Hong Leong Islamic Bank ATM Machine
: Transfer money from your Hong Leong Islamic Bank Savings or Current Account to make payment at all Hong Leong Islamic Bank branches.

Express Payment Machine
: Make a cash deposit or check at a Hong Leong Islamic Bank branch.

Payment by Post
: Post to Hong Leong Islamic Bank your check and statement in a sealed envelope.

Phone Banking
: Provide instructions for deduction from your bank account to pay off the home loan via T-PIN.