How to Pay Hong Leong Car Loan

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Car loan, which also commonly referred as auto loan or automobile loan, is a borrowed amount of money by individual to buy a car. In general, loan is a sum of money that lent to a client or customer. The borrowing party is called the borrower and the lending party is called the lender.

Hong Leong Bank Malaysia is one of the many financial institutions that offer car loan service. When you’re taking out car loan from HLB Bank, you are agreed to pay it back in the full amount along with the interest with pre-determined rate.

How to Pay Hong Leong Car Loan

How to Pay Hong Leong Car Loan Online

On Hong Leong Bank, the car loan is paid back through monthly loan payment installment. The amount of payment depends on how much you borrowed, the term of car loan, and the interest rate.

The car loan repayment in Hong Leong Bank starts on the first day of the month after the date that you’ve received the money and it continues for each following month until you have repaid the entire amount of loan.

Now, Hong Leong Bank provides several ways to pay car loan. These methods are including transfer from your saving account or current account, online banking of HLB Connect or other bank’s platform, MEPS cash payment, interbank GIRO, and cash deposit machine or in-person payment on HLB branch office.

The guide below will show you the steps to pay HLB car loan via digital banking or HLB Connect. For this method, you need to perform pay and transact feature by transferring from your HLB Banking account.

How to Pay Hong Leong Car Loan via Online Banking

Here are the steps on how to pay Hong Leong car loan via HLB Connect online banking:

  1. Open the official website of HLB Connect online banking.
  2. Log into your online banking account using your HLB Connect username and password.
  3. Select Pay and Transact menu and then choose DuitNow to Account or Interbank GIRO.
  4. Select which HLB bank account you’d like make payment from.
  5. Enter the details of your car loan account, the repayment amount, and the payment date.
  6. Read and agree to the terms and conditions.
  7. Verify your loan payment details and then input the sent TAC code.

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How to Pay Hong Leong Car Loan via Mobile Banking

Here are the steps on how to pay Hong Leong car loan via HLB Connect mobile banking app:

  1. Open your HLB Connect mobile banking application.
  2. Choose Menu and then select Transfer.
  3. Select which HLB bank account you’d like make payment from.
  4. Enter the details of your car loan account, the repayment amount, and the payment date.
  5. Verify your loan payment details and then select Ready to transfer.

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While the steps on making Hong Leong car loan payment above is relatively easy and simple, the process of getting car loan itself can be overwhelming and quite confusing, especially if this is the first time you are financing vehicle. Or payments can be made by standing instruction, cash, cheque at any of the Hong Leong Bank branches nationwide.

The key to ensure smooth car loan process is by understanding all things related to it, including the conditions of the loan. It makes sure that you won’t be surprised by hidden costs and fees that are associated with the loan.