ING Home Loan Malaysia

ING Home Loan

Why ING Home Loan? At ING, we GUARANTEE you a rate that is FIXED for the entire tenure of the loan. You do not have to worry about the fluctuations in the Base Lending Rate (BLR). When you subscribed to an ING Home Loan, we fix your installment and the tenure of the loan. By paying your installment monthly, you are GUARANTEED to own your home at the end of the tenure.

Over the last 26 years, BLR has gone up to the highest touching 12% p.a. and the lowest at 6% p.a. BLR currently stands at 6.75% p.a. (please refer to graph below).

ING Home Loan

From the graph above, 23 years BLR average is at 8.23%. Our offered interest rate is at 6.15%, which is far below the BLR average. Thus, by subscribing to ING, you can save thousands of ringgit throughout your loan tenure.

Interest Rate

Interest Rate
(Correct at press time and subject to change without notice)

Margin of Repayment

(Up to 50%)

For Completed Properties & Selected Under Construction Projects

6.15% p.a. fixed for the whole tenure
6.55% p.a. fixed for the whole tenure (Zero Entry Cost Package)

For Under Construction Properties

6.30% p.a. fixed for the whole tenure
6.70% p.a. fixed for the whole tenure (Zero Entry Cost Package)

Zero Entry Cost Package - ING absorbs Legal fees, Stamp Duty, Valuation fees and Disbursement fees for loan documentation

Margin of Financing
(Based on the lower of either the market value or the purchase price)

For Completed Properties

Landed & Non-landed) – Up to 90%
For Under Construction Properties

Landed – Up to 90%

Non-Landed – Up to 80%

Foreigners – Up to 70%

Loan Financed

Minimum – RM100,000
Maximum – RM5,000,000

Who Can Apply?

Malaysian / Malaysian PR
Foreigners with working permit
Aged 21 & above

Loan Tenure

Minimum – 5 years
Maximum - 30 years or Age 65, whichever comes first

Properties Financed

Under Construction – Klang Valley
(Please refer to list of projects accepted by ING)

Completed – Klang Valley, Penang, Seberang Prai, Ipoh, Seremban, Melaka, Johor Bahru, Kuching

Note: Leasehold properties must have 30 years of unexpired lease at the end of the loan. Malay Reserve & Native Land is strictly prohibited

Prepayment Fee

Prepayment penalty = 0.35% * Outstanding loan amount * Outstanding loan tenure
(Subject to a minimum of 2% or maximum of 4% of the outstanding loan amount)

Prepayment penalty is waived after 5 years from the date of first drawdown of the loan.

Prepayment penalty is imposed when the ING Loan is refinanced to another institution.

Insurance

All loans must be adequately protected by ING Life policy or ING MRTA policy during the tenure of the loan.

Fire Insurance is also compulsory.

Documents To Submit

	IC of applicants (both sides)
	Latest year Income Tax Form BE
	Latest 3 months personal bank account
	Sale & Purchase Agreement / purchase form from developer, Booking receipt
	Copy of Land Title (if available)
	Employed: Latest 3 months salary slips
	Self-employed: Business Registration, Form 24 & 49, Latest 6 months business current account statements

Please contact us for a free consultation to find out the amount of interest you could save by applying a new loan from ING or by swtiching your current loan to ING Fixed Rate Home Loan.

Source: http://www.ingmalaysia.com/

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