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Hire Purchase for New passenger vehicle – Fixed Rate Term Financing

Hire Purchase for New passenger vehicle – Fixed Rate Term Financing | Hire Purchase for Used passenger vehicle – Fixed Rate Term Financing | Hire Purchase for Reconditioned Passenger Vehicle – Fixed Rate Term Financing | Hire Purchase for Used Reconditioned Passenger Vehicle – Fixed Rate Term Financing | Hire Purchase for New Motorcycle – Fixed Rate Term Financing

Getting a hire purchase financing from a banking institution is a common way of purchasing a motor vehicle. However, it's best that you know which banking institution to choose from as different banking institutions offer different rates for everyone. There are also some factors to consider before signing up the facility with the banking institution but most importantly, make a comparison of different banking institutions in terms of their rates and services.

Factors to consider :

If you choose variable rate financing, would a marginal increase in the rates affect your repayment and can you afford it?
Are there any other fees incurred during the tenure of your hire purchase financing?
Does the banking institution have a branch near your home or office?
What payment channels does the banking institution provide?
Does the banking institution offer quality service in terms of efficiency and reliability?

Banking Institution	Margin of Financing (max, %)	Financing Tenure (max, months)	Fixed Rate Term Charges (& p.a.)		Admin Charges(RM)	Late Payment Charges (% p.a.)
Banking Institution	Margin of Financing (max, %)	Financing Tenure (max, months)	Minimum Rate/Range	APR for Minimum Rate	Admin Charges(RM)	Late Payment Charges (% p.a.)
Affin Bank Berhad
	90	108	3.25 - 3.75	5.92 - 6.76	-	8.00
Alliance Bank Malaysia Berhad
	90	108	3.40 - 4.10	6.17 - 7.68	-	8.00
AmBank (M) Berhad
	90	96 - 108	3.75	6.00	-	8.00
	90	84	3.50	6.00	-	8.00
Bank Muamalat Malaysia Berhad
	90%	108	2.85	5.00	600	1.00
CIMB Bank Berhad
	90	108	3.25	5.92	-	8.00
EON Bank Berhad
	90	108	3.40 to 4.10	6.22 to 7.48	-	8.00
Hong Leong Bank Berhad
	90	60	3.40 - 3.85	6.36 - 7.16	None	8.00
	90	72	3.60 - 4.00	6.67 - 7.36	None	8.00
	90	84	3.60 - 4.00	6.61 - 7.30	None	8.00
	90	96	3.75 - 4.10	6.82 - 7.40	None	8.00
	90	108	3.75 - 4.10	6.76 - 7.34	None	8.00
Malayan Banking Berhad
	90	108	2.70 - 4.30	5.10	-	8.00
Public Bank Berhad
	90	108	3.25 to 3.50	5.95 to 6.39	From 45	8.00
RHB Bank Berhad
	90%	108	3.50% to 3.75%	6.54% to 6.76%	None	8.00
	90%	108	3.25% to 3.50%	6.09% to 6.34%	None	8.00

Note : Minimum Rate / Range Interest rate charged by banking institutions to borrowers considered most creditworthy. Minimum rate / range is in percentage (%).

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