{"buttonLabel":"Check Rates","productCollection":"home_loans","productId":"12","productLink":"https:\/\/www.valuechampion.sg\/home-mortgage-loans\/compare\/new","productName":"Hong Leong"}
{"buttonLabel":"Check Rates","productCollection":"home_loans","productId":"12","productImage":"referral_logos\/sg\/banking\/hongleongfinance-1","productLink":"https:\/\/www.valuechampion.sg\/home-mortgage-loans\/compare\/new","productName":"Hong Leong"}

Hong Leong Finance Mortgage Review

Hong Leong Finance's home loans have higher interest rates than most, making it one of the more expensive ones on the market.

Hong Leong Finance Mortgage Review

Hong Leong Finance's home loans have higher interest rates than most, making it one of the more expensive ones on the market.


ValueChampion Rating ValueChampion Icon


  • Individuals who want one of the longest loan tenors in the market


  • Individuals looking for the cheapest home loan

Hong Leong Finance offers both HDB and private resident loans. Unlike other banks, lenders can borrow for 35-years or up to 70 years old, and will be able to choose from a variety of mortgage packages to best serve their needs. However, their interest rates cost consumers a considerable amount for long-term home loans.

Summary of Hong Leong's Home Loans
Promotional 2-year HDB loan with 3.55% p.a. interest rate
Variable rate packages for private homes begin at 4.40% p.a.
Large tenors of 35 years or up to 70 years old
Provides a bridging loan to help with down payment

Table of Contents

What Makes Hong Leong Stand Out to Borrowers

Hong Leong finance may be a good option for customers looking to borrow a long-term loan up until they are 70 years old. However, despite their initial attractive promotional rate of 3.55% for the 2-year fixed rate HDB loan, its are still not the cheapest on the market right now.

Hong Leong does, however, offer a bridging loan to help customers put a down payment on their new HDB flat while you wait for your previous home to sell. Lastly, each package is subject to change without prior notice as bank "board" rates are set internally; this could potentially be a burden since it reduces transparency.

Hong Leong HDB Loans Mortgage Rates as of January 2024

Hong Leong's HDB loan tenors are 35-years or up until the borrower is 70 years old, which is five years longer than most traditional bank loans. Included in their loan package for HDB flats is a "bridging" loan, which helps cover the down payment for your new flat or home. This might be an affordable way to move when you are waiting for the proceeds of the sale of your previous home.

Variable Rate Package1 Year Fixed2 Years Fixed
Year 14.45 (HHR - 2.55)3.65 (Fixed)3.55 (Fixed)
Year 24.45 (HHR - 2.55)4.50 (HHR - 2.50)3.55 (Fixed)
Year 34.50 (HHR - 2.50)4.50 (HHR- 2.50)4.50 (HHR - 2.50)
Thereafter4.50 (HHR - 2.50)4.50 (HHR- 2.50)4.50 (HHR - 2.50)
Hong Leong's HDB Home Rate (HHR) is 7.00% p.a.

Hong Leong Private Home Loans Interest Rates as of January 2024

Similar to Hong Leong's HDB loans, Hong Leong's private fixed rate home loans are slightly more expensive than some of the offerings by the main three local banks. Their variable rate private home loans on the other hand are on par with other competitors on the market. Below, we provide Hong Leong's current interest rates for your information.

Variable Rate Package2 Year Fixed3 Years Fixed
Year 14.40 (PPR - 1.75)3.80 (Fixed)3.95 (Fixed)
Year 24.40 (PPR - 1.75)3.80 (Fixed)3.95 (Fixed)
Year 34.45 (PPR - 1.70)4.45 (PPR- 1.70)3.95 (Fixed)
Thereafter4.45 (PPR - 1.70)4.45 (PPR- 1.70)4.45 (PPR - 1.70)
Hong Leong's Private Property Rate (PPR) is 6.15% p.a.

Applicable Fees

Though there is no listing of the applicable fees on Hong Leong's website, it would be prudent to pay attention to the fees in the agreement if you proceed with them. In the home loan market, most banks charge a processing fee and partial redemption fee of 1%-2%. Other charges, like the title deed, cancellation and full redemption fees are usually applicable as well.

How to Apply for an Hong Leong Home Loan: Application Process

You must be at least 21 years old to take out a home loan of S$100,000 or more at Hong Leong. To apply, you can begin by requesting more information from a bank representative, but will need to go in-person with the documents listed below.

Documents required to apply to Hong Leong Home Loans

  • Copy of NRIC / Passport / Employment Pass / Work Permit
  • CPF Statement of Account
  • Income Tax Assessment
  • Income Evidence: Payslip / Past 15 months CPF Contribution History Statement / Employment Letter/Bank Statements
  • Tenancy Agreement, if applicable
  • Option To Purchase, if applicable
  • Valid Valuation Report, if applicable
  • HDB Flat Details, if applicable
  • Latest Statement from Existing Financier/HDB, if applicable.
  • CPF Public / Private Housing Scheme Withdrawal Statement, if applicable.
  • Printout “Account Summary” in myTax Portal
  • Printout “My Property Portfolio” in myTax Portal
  • Statement of All Outstanding Credit Facilities
  • Loan application form

How Do Hong Leong Rates Compare to Other Bank's Home Loans?

Hong Leong's interest rates do not necessarily appear to be as high as others, but since they incrementally increase during the first five years, they could end up costing the consumers more than most other lenders. If you're looking for a lower interest rate, check out our top picks to decide the best loan for you. That being said, if you are looking to take out a long-term mortgage up to 35 years or want a "bridging" loan, this is a potentially good choice.

Find the Cheapest Home Loans in Singapore

{"defaultValue":"500000","clearOnFocus":true,"label":"Loan Amount","name":"loanAmount","symbol":"$","symbolLocation":"left","showLabel":false}

Home mortgage rates showcased on this page are derived from the mortgage loan aggregator Redbrick Mortgage Advisory, our mortgage loan partner.

Read Also:

{"endpoint":"\/newsletter\/subscribe","style":"blue","title":"Keep up with our news and analysis.","version":"sidebar"}