Hire Purchase Loan

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  • Auto Loan >
  • Auto Loan
Auto Loan Car Loan

Apply for our Auto Loan and say hello to your new car

Apply Now
Apply Now

Features & Benefits

  • Features & Benefits
  • Monthly Instalment Calculator
  • Eligibility
  • How to Apply
  • Terms & Conditions
  • FAQ

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.

S$

Minimum S$10,000

months

Choose between 12 and 84 months

%

EIR {{value}}% p.a.

This is an indicative rate. Speak to your dealer for the latest rate.

*EIR refers to Effective Interest Rate

This calculator is intended to be used for illustrative purposes only.

Requirements: 

iconImage-/content/dam/hlb/sg/images/personal-banking/Tick-2020.png 21 years old and above
iconImage-/content/dam/hlb/sg/images/personal-banking/Tick-2020.png An individual or non-individual including sole proprietors, partnerships, private limited companies and public listed companies 
iconImage-/content/dam/hlb/sg/images/personal-banking/Tick-2020.png A Singaporean citizen, permanent resident or foreigner with valid documentation 
  • PERSONAL
  • BUSINESS

 

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 

 

 

 

 

 

 

 

 

 

Standard Terms & Conditions

Standard Pricing Schedule

Declaration

Electronic Signature Terms & Conditions

GIRO Form

Guarantor Declaration

Letter of Guarantee

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.

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External Link Disclaimer

If you click ‘Continue’, you will leave the HL Bank website to access a third party website ("Third Party Website").

HL Bank has no control over the Third Party Website and has no liability in connection with your use of the Third Party Website.

HL Bank is not liable for how any information you may provide on the Third Party Website is handled or treated, or for any loss incurred in connection with you accessing the Third Party Website. HL Bank makes no warranties, representations or undertakings about the Third Party Website.

 

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