Features & Benefits
Hassle Free Application
No income documents required when you retrieve your personal information via MyInfo
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Attractive Interest Rates
Enjoy fixed monthly instalments based on a flat interest rate
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Instant* Approval
Ask your Authorised Distributor and get a loan decision within minutes.
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Loan Tenor
Loan repayment of up to 7 years.
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Financing
Borrow up to 70% of the purchase price or market value of the car, whichever is lower.
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*Online loan approval and usage are only applicable for applications via MyInfo. Please note delays or non-approvals of applications may occur for various reasons.
*EIR refers to Effective Interest Rate
This calculator is intended to be used for illustrative purposes only.
Requirements:
21 years old and above
An individual or non-individual including sole proprietors, partnerships, private limited companies and public listed companies
A Singaporean citizen, permanent resident or foreigner with valid documentation
For individuals, use our fast, simple and secure auto loan approval portal with Myinfo:
STEP 1
Speak to your car dealer
Your dealer will start your Auto Loan application, thereafter you will receive an application link via SMS and email.
Use MyInfo to fill in your personal information and confirm your loan details.
STEP 2
Get your Auto Loan decision
Once your Auto Loan application is approved, a notification will be sent via SMS.
Your dealer will proceed on the registration of your vehicle.
STEP 3
Collect your vehicle
Your dealer will update you to arrange collection of your vehicle.
HL Bank will send you a copy of the Hire Purchase Agreement.
For sole proprietors, partnerships and private limited companies
STEP 1
Speak to your car dealer
Your dealer will help you apply for an Auto Loan. To ease the application process, please prepare the following documents:
(i) Signed and stamped application form
(ii) Proof of income: Latest 3 month bank statements or Sole Proprietor can provide latest notice of assessment
(iii) Copy of sole proprietor/partner(s) NRIC OR Guarantor NRIC
STEP 2
Get your loan decision
Once the loan is approved, an approval advice will be sent to your dealer via email or fax
Your dealer will proceed with the registration of the vehicle
STEP 3
Collect your vehicle
Your dealer will update you to arrange for the collection of your vehicle
HL Bank will send you a copy of the Hire Purchase Agreement
Q1. How do I apply for an Auto Loan?
Apply your auto loan through Authorised Distributors for new cars or used cars dealers. For new cars, you can use MyInfo for instant approval at various Authorised Distributors.
Q2. What is the maximum loan amount and maximum tenor I can borrow?
| Open Market Value (OMV) |
Maximum Loan Amount |
Maximum Loan Tenor |
|---|---|---|
| Less than or equal to S$20,000 | 70% of purchase price or market value, whichever is lower | Up to maximum of 7 years |
| More than S$20,000 | 60% of purchase price or market value, whichever is lower |
Up to maximum of 7 years |
Q3. How can I pay my instalment?
1) Cash - Please note that cash payments have to be made at our branch
2) Cheque - Payable to "HL Bank"
3) Interbank GIRO - Download the GIRO form here
4) Bank Transfer (Do not transfer to any other bank code or account number)
- BANK CODE : 7287
- BRANCH: 001
- ACCOUNT NO.: 10639000000
- REMARKS: HP AGREEMENT NO./ VEHICLE REGISTRATION NO.
Q4. How do I request for early settlement?
Please call our HL Bank Contact Centre at +65 6349 8330 to speak to our Customer Service Officer (Monday - Friday, 9am to 6pm). Please note that the bank will not provide any details with regards to early settlement via SMS or messages through any external communication apps. Please contact us immediately for verification when such a message is received.
