Hong Leong Mortgage
|The Mortgage Program of the Hong Leong Bank is known by the name of Hong Leong Mortgage Plus. Under this program you can take loan for refinancing your home. When you apply for the mortgage loan it is linked to your current account so that it becomes easier for you to save money as the daily available balance in your current account is used to pay off your home loan amount. The most important feature of this account is that you can two types of account with this one is the HL Mortgage Plus loan account and a non-interest bearing current account.
You can very easily apply for this loan by filling up the application form and submitting it with some important documents like Letter of Offer and Facility Agreement. The bank has also introduced various types of loan repayment options like Over the counter, make a fund transfer via internet banking or ATM, Cash or Cheque deposit Machine so that it becomes easier for the loan borrowers to pay off the loan easily and with out any difficulty.
Following are the benefits of a Hong Leong Bank Mortgage:
- Cost savings on interest: Since your home loan account is automatically linked to the current account therefore you do not have to pay much interest.
- Ability to pay-off loan faster: As the interest rate is low the tenure of the loan will also be shorten.
- Flexibility: You can at anytime withdraw money from your current account with out paying any extra charges.
- Accessibility: You can easily access your funds in the current account with the help of cheque book, ATM and internet banking.
- Convenience: It provides you with the option of consolidating all your funds into one account.
Hong Leong Mortgage Rate
The interest rate is compoundly calculated. To make it easier for you given below is a sample illustration of interest calculation:
|Outstanding Loan balance||RM500,000 (debit)|
|Current account balance||RM80,000 (credit)|
|Interest rate applicable||6.75% p.a.|
It is assumed that no changes have been made to the loan and current account position for the last one month.
|Hong Leong MortgagePlus:|
(500,000 less 80,000) x 6.75% x 30/365 = RM2330.13
500,000 x 6.75% x 30/365 = RM2773.97
You can also calculate the rate of interest with the help of the mortgage plus calculator that is being provided in the website of the bank.
Hong Leong Flexi Mortgage
It has been seen that buying a house is one of the biggest decision that they make in their life and the home buyers have to often compromise on the location, lifestyle, property type and the design as they have to pay the installment of the loan within a stipulated time period. But form now onwards home buyers do not have to face these types of problems anymore as the Home Loan Flexi Mortgage allows the home buyers to enjoy low EMIs, flexibility in loan repayment and also opt for a bigger loan amount. This loan mortgage program has been specially designed keeping in mind about the various types of lifestyles of the people. The most attractive feature of this loan program is the bullet payment feature which defers the total loan amount by 35%.
Hong Leong Mortgage Center
If you have any query regarding the Hong Leong Mortgage then you can dial the mortgage centre number 1-800-38-8888 and speak either with the loan specialist or the customer relationship officer. In addition to this you can also fill up an online enquiry form by visiting the website of the bank and the bank will contact you back within two working days.