Housing Loans with Lowest Interest Rates

The number of customers who take out home loans in Malaysia is constantly on the rise thanks to easier financing options. With an increasing number of banks and financial institutions providing attractive interest rates, customers are usually spoilt for choice when it comes to picking the right package to meet their unique requirements. Here are some of the best options for customers who are considering taking out a home loan in Malaysia.

HSBC HomeSmart

The HomeSmart loan from HSBC bank allows customers to reshuffle their finances with zero moving fees and additional repayments. The maximum repayment period for the loan is 35 years and it is a full-flexi loan with a floating rate of interest. However, there is lock-in period of three years and the margin of finance provided is up to 90%. The interest rate for this loan is 4.85% per annum.

Hong Leong Mortgage PlusFully flexible instalments and linkage to the customers’ current account means that Hong Leong Mortgage Plus helps customers maximise savings and lower interest fees. The term of the loan extends to 35 years and it is a full-flexi loan with a floating rate of interest. A lock in period of three years is applicable to the loan and the margin of finance offered is up to 90%. It takes up to 30 days for the loan to be approved by the bank, but the wait is totally worth it considering the rate of interest charged for a home loan is 4.6% per annum.

AmBank Home-I

AmBank has designed financial products and services that are compliant with the Islamic law of Shariah. An interest cap and fixed monthly instalments help in protecting customers from future contingencies and make it easier for them to repay the loan on time. The term of the loan extend to 35 years and it is a semi-flexi Islamic loan with a floating rate of interest. A lock in period of three years is applicable on the loan but the margin of finance offered is almost 95%. It takes about 30 days for the bank to approve your request but again, the wait doesn’t seem too long considering that the rate of interest you can avail is just 4.45% per annum.

Bank Islam Baiti Home FinancingHome financing from Bank Islam Baiti is affordable and is based on Tawarruq, a concept of Islam. The term of the loan extends to 35 years and it is a semi-flexi Islamic loan with a floating rate of interest. The lock in period for the loan is five years, and the margin of finance provided is 90%. The rate of interest on the loan is only 4.45%.

Bank of China Term LoanA term loan from the Bank of China offers attractive variable rates of interest and has no unnecessary fees attached. The term of the loan extends to 20 years and it has a lock in period of three years. The margin of finance offered is 90% and the rate of interest is set at 4.45%.

These are the best options when it comes to home loans in Malaysia. Customers are required to go through the terms and conditions of the offer document to make the most of the package and ensure that there will be no complications arising in the future.