The 7 Best Housing Loans in Malaysia

Best Housing Loan in Malaysia

By Adam Wei

Building or buying a house requires a lot of effort and is a source of uncertainty, frustration—and a great sense of accomplishment. It’s a good thing the best housing loans in Malaysia can help fund the home of our dreams!

With the ever-increasing property rates, it is difficult to buy a home through our savings alone. A lot of us have to avail of a housing loan to be able to afford a place.

Generally, getting a home loan gives us one of the biggest accountabilities since it’s a cost that stays for a long time. However, your home loan also offers you some benefits.

The trick is to choose a great lender and loan. To help you with that, here’s a list of the 7 best housing loans in Malaysia!

1.  AIA Home Loan

AIA Home Loan's Logo

WEBSITE AIA
ADDRESS Jalan 4/91, Taman Shamelin Perkasa, 56100 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CONTACT DETAILS +60 1-300-88-2886
OPERATING HOURS 8:30 am to 4:30 pm Monday to Friday

AIA offers 3 home loan packages:

First, you’ll pay a fixed interest at the rate of 4.99% annually for the term of the loan.

Second, a fixed 5.39% annual interest, but with zero moving cost. This means that your legal costs and insurance fees will be lessened upfront.

Third, you can get 4.39% annual interest for the first two years, and 5.15% on the rest after.

Either way, these are some of the best housing loans in Malaysia. Just try comparing them to other lenders’ offers to see why!

Highlights

  • Best Fixed-Rate Home Loan
  • Fixed repayments despite BR changes
  • No settlement penalty upon property sale
  • Suitable for Debt Consolidation and refinancing
  • Zero Moving Cost Package available

 

2.  Bank of China Malaysia Home Loan

Bank of China Malaysia Home Loan's Logo

WEBSITE Bank of China
ADDRESS Maxis Tower, Jalan Ampang, Kuala Lumpur City Centre, 50088 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CONTACT DETAILS +60 3-2301 3399
OPERATING HOURS 9:30 am to 4:00 pm Monday to Friday

Bank of China Malaysia’s home loan will be granted to an individual to finance the purchase of a completed or residential property that’s under construction. The terms are pretty good, putting it among the best housing loans in Malaysia.

The term home loan is calculated on a variable rate basis, but you will be offering your house / property as a security for this financing.

The Bank of China Malaysia’s base rate for this loan is made up of two parts, benchmark cost of funds (COF) and the Statutory Reserve Requirement (SRR) cost imposed by Bank Negara Malaysia.

Highlights

  • Best interest rate home loan
  • Best for loan amounts from RM300,000

 

3.  UOB Home Loan

UOB Home Loan's Logo

WEBSITE UOB
ADDRESS Jalan Raja Laut, Kuala Lumpur City Centre, 50350 Kuala Lumpur, Federal Territory of Kuala Lumpur, Malaysia
CONTACT DETAILS +60 3-2612 8121
OPERATING HOURS 9:30 am to 4:00 pm Monday to Friday

Secure up to 95% of cost when you partner up with UOB Home Loan Malaysia, all together with MRTA (provided that the policy is bought from Great Eastern Insurance).

The maximum loan term of all UOB Home Loan Malaysia is 35 years (following the directive from Bank Negara Malaysia) or until the borrower hits 70 years old, whichever is sooner. See why it’s among the best housing loans in Malaysia?

Highlights

  • Full-flexi Packages
  • Overdraft facilities available
  • Flexible Repayments – Daily to monthly frequency

 

4.  Hong Leong Home Loan

Hong Leong Home Loan's Logo

WEBSITE Hong Leong Bank
ADDRESS Caribbean Bay Suites, Jalan Bukit Gambang Resort City Utama, 26300, Kuantan, Pahang, Malaysia, 26300 Kuantan, Malaysia
CONTACT DETAILS +60 3-7626 8899
OPERATING HOURS 9:15 am to 5:45 pm Monday to Thursday (early close by 1 hour during Fridays)

Coming in hot is Hong Leong Bank. Their adaptable terms put their home loans among the best housing loans in Malaysia.

Hong Leong Bank offers a wide collection of housing loans, including their Flexi Mortgage that shows up with a “bullet payment” element. You can get 35% of your principal loan reimbursement at the end of your loan term.

Flexible packages for any budget! Anyone 18 years old or above may apply for this Hong Leong mortgage package.

Highlights

  • Full Flexi Packages
  • Comprehensive product suite: Term Loans with Optional Overdraft, Semi-Flexi and Full-Flexi Packages

 

5.  Maybank Home Loan

Maybank Home Loan's Logo

WEBSITE Maybank
ADDRESS Petaling Jaya Main Branch, 50-52 Jalan Sultan (52/4) 46200 Petaling Jaya, 46730 Petaling Jaya, Selangor, Malaysia
CONTACT DETAILS +60 3-7958 1486
OPERATING HOURS 9:15 am to 4:30 pm Monday to Friday

Another one in the list that offers a flexible home loan package is Maybank. In particular, their MaxiHome is among the best housing loans in Malaysia.

MaxiHome is a semi-flexi home loan with a withdrawal amenity. This type of Maybank housing loan is noted for its flexibility even if it’s just technically semi-flexi.

For example, this Maybank property loan in Malaysia takes into detail your current and eventual needs. In this way, you will get more flexible options when it comes to repaying.

Matched to the normal one-third of your salary, this housing loan also provides a greater loan qualification, which is up to 40% of your income.

There is an exclusive offer of revising monthly payments when you sign up for this loan just to suit your financial situation as well.

Highlights

  • Low Early Settlement Penalty
  • Largest bank branch
  • High end financing availability

 

6.  Public Islamic Bank

Public Islamic Bank's Logo

WEBSITE Public Islamic Bank
ADDRESS 111, Jalan Raja Abdullah, Kampung Baru, 50300 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CONTACT DETAILS +60 3-2692 7269
OPERATING HOURS 9:30 am to 4:00 pm Monday to Friday

The home loan options provided by Public Islamic Bank are Islamic Shariah-compliant packages. They’re among the best housing loans in Malaysia too.

The full-flexi Home Save-i package, which appears with a linked current account, is considered the bank’s best product.

Just a tip, though: try to keep as much of your funds as you can (like your savings) in your current account to lessen the interest fee on your home loans. Withdrawals can be done flexibly at zero cost too!

Highlights

  • Full-flexi packages
  • Zero Entry Cost packages
  • Fixed rate home loan package
  • Overdraft facilities available

 

7.  Alliance Islamic Bank

Alliance Islamic Bank's Logo

WEBSITE Alliance Islamic Bank
ADDRESS Menara Multi-Purpose Capital Square, 8, Jalan Munshi Abdullah, City Centre, 50100 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CONTACT DETAILS +60 3-5516 9988
OPERATING HOURS 9:30 am to 4:30 pm Monday to Friday

Paying off your ongoing loans, payment balances, and combining numerous repayments into a single easy-to-manage financing game plan is difficult on your own.

Good thing AOA is at your service to help you with all that. With the help of AOA’s Overdraft Facility or Cashline Facility, you can decide how you’re gonna repay.

With them, you can experience the peace of mind from having only a few monthly responsibilities to worry about and just take your time.

Highlights

  • Low profit rate
  • Consolidate your loan into one account
  • Lower monthly repayment

 

Getting a house is one of the largest purchases you will ever make. Despite careful preparation, there are still a lot of errors you can make during your housing loan application.

There are numerous companies and banks that offer a housing loan, fortunately. Choosing which is the best out of the rest is a big decision, and we’ve compiled them for you, as you can see.

We hope that by now you have an idea of which housing loan in Malaysia to go with for your new home! By the way, you can also check out the best personal loans in Malaysia if you’re only a few RM away from your target value!

 

*Images sourced from featured websites.

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