Frequently Asked Questions on Property Loans/Financing-i Accounts Deferment Program

(Version 15 Apr 2020)

No. Question Answer
1. Does the automatic moratorium Yes, the automatic moratorium granted by HLB & HLISB under the
apply to ALL types of mortgages / deferment program applies to all types of property loans/financing,
property financing? granted to Individuals, disbursed prior to 1 April 2020.

The loan/financing must meet the criteria of:

a) not in arrears exceeding 90 days as at 1 April 2020, and
b) being denominated in Malaysian Ringgit.

For Overdrafts (OD)/Cashline-i which comes with a property

loan/financing account, please refer to question 13 below.

2. I do not want to participate in the

automatic moratorium. How do I By default, all eligible loan/financing accounts enjoy the automatic
opt-out of the automatic moratorium.
moratorium?
You can also elect to just continue making your payments/repayments
as usual, or whatever sums affordable to you during the period. There
are no late payment charges/compensation charges.

Note: For customers with standing instructions, please be guided

by item 3 below.

Refer to item 3 below on payment method options.

3. What do I do with the standing 1. SI which you have given instructions to be set up by the Bank:
instruction (SI) for the We will temporarily stop standing instructions (SI) for
repayment/payment of my payments/repayments from your Hong Leong Current
account? Account/Hong Leong Current Account-i or Savings
Account/Savings Account-i.

2. SI which are set up by customers via Connect Online Banking:

You will need to change your standing instruction(s) through
Connect Online Banking should you wish to defer your
loan/financing instalments. Please remember to effect a new
standing instruction for your payments/repayments before the end
of the 6 months moratorium so that your payments/repayments are
kept up to date after the moratorium period ends.

3. SI from current account/current account-i or savings

account/savings account-i account from other banks:
Please amend the SI with the respective banks.

Should you wish to make payments during the moratorium period, you
can:
 Instruct us to reinstate the SI (see item 1 above);
 Do so via online transfers;
 Use our self-service terminals; or
 Set up another standing instruction via Connect Online Banking
just for this moratorium period.

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No. Question Answer

Note: Unless you take actions on item 2 or 3 above (as the case might
be), any payments we receive will go towards meeting the monthly
payments/repayments.

If you have a loan/financing which is automatically deducted from your

salary, and if you wish to participate in the automatic moratorium, you
need to inform your employer to stop the salary deduction.

If you have a MortgagePlus Current Account, you need to continue the

SI for the payment of the Monthly Maintenance Fees as the Monthly
Maintenance Fees will continue to apply.

4. When is my next due date for If you participate in the automatic moratorium, your next due date for
repayment/payment under the repayment/payment is the facility due date in October 2020.
automatic moratorium?

5. Does that mean the bank does not No, the contracted interest rate will continue to apply on the
charge interest/profit during the outstanding principal amount during the moratorium period.
moratorium period? Interest/profit will not be compounded.

For Islamic accounts, profit will accrue on the outstanding principal

amount. That profit will not be compounded, in line with Shariah
principles.

6. If I defer, does that mean my Yes, a higher subsequent repayment/payment amount is necessary to
instalment or repayment/ payment repay/pay the deferred principal and interest/profit accrued during the
is higher after the moratorium moratorium period. If you wish to maintain the monthly instalment
period? unchanged, please contact us.

We will advise you of the revision to your instalment amount before

the expiry of the moratorium period. This will also account for any
change(s) to the OPR or Base Rate / Islamic Base Rate / Base Lending
Rate / Islamic Financing Rate during the moratorium period.

If you foresee having challenges making the revised repayment/

payment, you should contact our Consumer Collection Centre for a
discussion earliest possible, before the end of the moratorium period,
at:

Tel: +603-79591888
Email: CollsCustomerFeedback@hlbb.hongleong.com.my

7. I have a joint loan/financing Yes.

account. Does the automatic
moratorium apply to all joint
borrowers/ customers
automatically?
8. I have a joint loan/financing No, you do not need to notify the Bank. You can just continue making
account. I wish to continue with your repayment/payment as usual, or whatever sums affordable to you
loan repayments/financing during the moratorium period.
payment. Do all joint

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No. Question Answer
borrowers/customers need to Refer also to item 3 above on payment method options.
notify the bank?

9. I opted out and made Any payments we receive will go towards meeting the monthly
repayments/payments during the payments/repayments. That payment will first be reflected as Advance
moratorium period. How will this Payment in your account.
be reflected in my loan/financing
account? At the end of the moratorium period i.e. at the end of September 2020,
the bank will make an adjustment. We will reduce the Advance
Payment by the same amount that you paid during the period, and
apply that paid amount to offset the monthly incurred interest/profit
and principal repayment/payment.

You may refer to the illustration below to see how this works:

Loan/Financing Amount 1 April 2020 RM300,000

Loan/Financing Remaining Tenure 35 years
Interest/Effective Profit Rate 4.60%
Monthly Instalment RM1,439

How this works:

During the moratorium period, you make 6 monthly instalment
repayments/payments.
- Advance Payment will increase by RM8,634 (RM1,439 x 6 mths)
- At the end of the moratorium period, we reduce your Advance
Payment by RM8,634
- That sum then repays the monthly principal and interest/profit as
per the normal schedule below
- By end September, your Principal outstanding is reduced
progressively

Opt-Out (No Deferment) Pay Every Month

Pay Every Month
Interest/Pro
Loan/Financing Principal Principal Outstanding
Month fit
Amount Payment Balance
Payment
April 300,000 305 1,134 299,695
May 299,695 268 1,171 299,427
June 299,427 307 1,132 299,120
July 299,120 270 1,169 298,850
August 298,850 271 1,168 298,578
September 298,578 310 1,129 298,268

This method also gives you the added flexibility to redraw/ withdraw
from Advance Payment the repayments/payments that you have made
during the moratorium period.

10. I have Advance Payment in my No, we will not deduct the payment from the advance payment
loan/financing account. But I want amount. You do not need to do anything, this is the process we will
to participate in the automatic follow during the 6 months moratorium period.
moratorium.

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No. Question Answer
Will the Bank deduct the
repayment/payment from the
Advance Payment? Do I need to
withdraw the Advance Payment to
avoid any automatic deduction?

11. Does my Advance Payment Yes, for all daily rest accounts, any Advance Payment will continue to
operate the same way during the offset the calculation of the Eligible Outstanding Balance for
moratorium period? interest/profit rate computation per the facility terms and conditions.

For monthly rest accounts, at the end of the moratorium period, a

review will be made on the excess payment made and a credit to your
loan/financing account may be performed accordingly.

12. I have more than 1 housing Yes, you can elect to make repayment/payment to any of your
loan/financing account with the loan/financing accounts.
bank.
Refer to item 3 or 4 above, whichever is applicable on payment
Can I opt out of the automatic methods.
moratorium for only some, and
not all of the property
loan/financing accounts?

13. I have an Overdraft Yes, it is eligible, provided your account meets the eligibility criteria
(OD)/Cashline-i facility with the mentioned in item 1 above.
property loan/financing account.
Please refer to the Frequently Asked Questions on
Does the automatic moratorium Overdraft(OD)/Cashline-i/Share Margin (SMF)/Overdraft
apply to the OD/Cashline-i Secured by Unit Trust (OD-UT) Deferment Program.
facility?

14. My loan/financing account has No, the automatic moratorium applies only to loans/financing accounts
not been drawn down/disbursed at which were disbursed before 1 April 2020.
all, but I expect disbursement to
happen during the 6 months.

Does the automatic moratorium

apply to me?

15. Does the moratorium apply to No, the automatic moratorium does not apply to any new
new loans/financing approved loan/financing approved on or after 1 April 2020.
during the 6 months?

16. My loan/financing has not been Yes, the automatic moratorium applies to any loan/financing account
fully released, and I am only with disbursement before 1 April 2020.
servicing interest/ paying Grace
Period Profit (GPP) currently.

Does the automatic moratorium

apply to me?

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No. Question Answer
17. My loan/financing account has Yes, the newly disbursed amounts will be eligible as the automatic
only been partially drawn moratorium applies to all loan/financing accounts which had a
down/disbursed. disbursement before 1 April 2020.

During the moratorium period,

more disbursements are made.
Are the newly disbursed amounts
eligible for repayment/ payment
deferment during the moratorium
period?

18. Can I continue to operate my Yes, you can continue to operate it normally.
MortgagePlus Current Account
during this time?

19. How does the Bank treat the For all daily rest accounts, any Advance Payment and credit balance in
MortgagePlus Current Account your MortgagePlus Current Account will continue to offset the
balance during the moratorium calculation of the Eligible Outstanding Balance for interest rate
period? computation per the facility terms and conditions.

20. Can I settle or redeem my Yes. Please contact us if you wish to do so.
property loan/financing during
this moratorium period?

21. Can I sell my property during this Yes, unless your facility terms and conditions contain a property sale
moratorium period? moratorium that has not expired during this period e.g. Skim Rumah
Pertamaku, or where there are specific conditions on this matter in your
loan/financing agreement.

22. Do I need to pay for my fire Yes, the automatic moratorium applies only to loan/financing
insurance/takaful during this repayment/payment and late payment charges/compensation charge.
period? Other charges are not subject to the automatic moratorium.

You must always ensure that the property under financing is

adequately covered with fire insurance/takaful.

23. How about other fees and charges Yes, other fees and charges (except late payment
e.g. monthly maintenance fee for charges/compensation charge) continue to apply as usual. Where
the MortgagePlus Current applicable, we may debit your loan/financing account accordingly.
Account?

24. Do I have to pay for my Mortgage Where MDTA / MRTT is financed into your loan / financing, the
Decreasing Term Assurance moratorium applies to the repayment/payment.
(MDTA) / Mortgage Reducing
Term Takaful (MRTT) during the If you have self-financed MDTA / MRTT due during this time, you
moratorium period? will need to ensure that you honour the obligations including the
payment of the premium/contribution.

25. Will Mortgage Decreasing Term The MDTA/MRTT protection coverage will continue during the
Assurance (MDTA) / Mortgage moratorium period.
Reducing Term Takaful (MRTT)
protection coverage be extended
in line with any extended tenure

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No. Question Answer
of the loan/financing (if Additional MDTA/MRTT costs will be imposed if you wish to extend
applicable)? the protection coverage in line with any extended tenure of the
loan/financing (if applicable). Please contact us if you wish to do so.

26. My account is currently 1 month No, there will be no additional Late Payment Interest / Compensation
overdue, will the Bank charge any Charges imposed on the deferred amount during the moratorium
Late Payment Interest / period.
Compensation Charges during the
moratorium period?

27. Since my loan/financing is under No, there is no CCRIS financial record impact if the account is prompt
the automatic moratorium, will at the point of deferment request. If the account is more than 1 month
my CCRIS records be adversely in arrears at the point the automatic moratorium starts, your CCRIS
affected? record will remain unchanged during the moratorium period.

28. My loan/financing is in default, Loans/financing accounts that are already more than 90 days in arrears
can I qualify? Can loans/financing as at 1 April 2020 will not qualify for the automatic moratorium.
under rescheduling and Borrowers/customers are advised to approach the bank to seek
restructuring (R&R) program be assistance.
eligible for the automatic
moratorium? Loans/financing under R&R programs are also eligible for the
automatic moratorium subject to it meeting the eligibility criteria in
item 1 above.

29. How is the automatic moratorium There is no difference between existing moratorium announced by the
different from the other Bank and this deferment program.
loan/financing moratoriums
announced by banks recently?

30. If my loan or financing is under Yes. You are still eligible to submit any new loan/financing application
the automatic moratorium, would during the moratorium period subject to your affordability and to be
I still be eligible to apply any new assessed by the bank accordingly.
financing from Banks during the
moratorium period?

31. My loan/financing account is No, you are not eligible under this automatic moratorium. However, if
currently 10 months overdue, can you would like to discuss any other payment plans, you may
I opt in for this automatic contact/email our Consumer Collection Centre at the contact points
moratorium? mentioned above in Question 6.

32. If I participate in the deferment No, as your loan/financing is automatically opted in for the deferment
program, will I receive Reminder program, there will not be any reminder notices/legal letters during this
Notice / Legal Letters from the period.
Bank during these 6 months?

33. Will I continue to receive notices Yes, you will continue to receive notices, letters and communication
on my property loan/financing during the moratorium period.
account from the Bank during the
moratorium period?

34. I have late charges/ compensation Yes, provided that your account meets the eligibility criteria mentioned
charge or miscellaneous charges in Question 1.
owing on my account. Is my

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No. Question Answer
account eligible for the automatic
moratorium?

You to contact us to discuss any of these items via the contact details provided hereunder:
1. For general enquiries on HLB/HLISB Loans/Financing Moratorium/Deferment Programs:
HLB Customer Hotline: 603-7626 8899 (9.00am – 6.00pm, Mon-Sat, until the end of MCO)
Email: HLonline@hlbb.hongleong.com.my

2. For Bank Negara Malaysia Special Relief Fund for SME Affected by Covid-19:
HLB Customer Hotline: 603-7626 8899 (9.00am – 6.00pm, Mon-Sat, until the end of MCO)
Email: HLonline@hlbb.hongleong.com.my

3. For request to lower your instalment payment amount due after the Moratorium Period:
HLB Customer Collections: 603-7959 1888 (8.45am – 5.45pm, Mon-Fri)
Email: CollsCustomerFeedback@hlbb.hongleong.com.my
4. For requests to maintain repayments/payments unchanged during the Moratorium Period:
HLB Customer Hotline: 603-7626 8899 (9.00am – 6.00pm, Mon-Sat, until the end of MCO)
Email: HLonline@hlbb.hongleong.com.my

Thank you for kind patience and cooperation.

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