Maybank singapore

Maybank Hire Purchase

Maybank Hire Purchase, Financing for new, secondhand and reconditioned motor vehicles



Margin of finance:
Up to 90%

Loan period:
Up to 9 years

Benefits

  • Easy payment of your instalment via Maybank branches, ATMs, online via Maybank2u.com and Maybank e-Kawanku
  • Fast processing and approval
  • Attractive and competitive term charges
  • Renewal of road tax and motor insurance

Types of goods financed

  • New motor vehicles
  • Secondhand motor vehicles
  • Reconditioned motor vehicles

Who can apply

  • Individuals aged 18 years old and above
  • Sole proprietorships
  • Partnerships
  • Private Limited & Public Limited Companies

Terms of financing

Type of vehicleMargin of financeRepayment period
New passenger car, 4WD, MPV and SUV (CBU and CKD units)Maximum of 90% of seller’s invoiceMaximum 108 months
Secondhand passenger car, 4WD, MPV and SUVMaximum of 85% of seller’s invoiceMaximum 108 months
Unregistered reconditioned (imported) vehicleMaximum of 90% of seller’s invoiceMaximum 108 months
*All terms and conditions are subject to the financing guidelines by Bank Negara Malaysia and Maybank

Fees & charges

List of hire purchase fees for purchase of new and reconditioned vehicles, used vehicles and after sales support services.

Click here for Hire Purchase Product Disclosure Sheet (Conventional).

Click here for Hire Purchase Product Disclosure Sheet (Islamic).

Required documents

ApplicantNew Vehicle / Unregistered reconditionedUsed Vehicle
Individual (Fixed Income Earner)

– Purchased of passenger vehicle

– Purchase of other than passenger vehicle		NRICDriving License (applicant only)Passport and employment / Contract Letter for foreignerLatest 2 months’ Salary Slips /vouchers andLatest EA or EPF Statement or Employment Confirmation or 3 months Bank / Passbook Statement or ASB/ASN.Spouse details (NRIC and latest 2 months’ proof of income if to support household income)

* Local guarantor is compulsory for foreigner and guarantor need to submit documents as per item 1, 4 and 5.		NRICDriving License (applicant only)Passport and employment / Contract Letter for foreignerLatest 2 months’ Salary Slips /vouchers andLatest EA or EPF Statement or Employment Confirmation or 3 months Bank / Passbook Statement or ASB/ASN.Spouse details (NRIC and latest 2 months’ proof of income if to support household income)NRIC & driving license of seller if the seller is an individualRegistration Card Performa invoice or invoice

* Local guarantor is compulsory for foreigner and guarantor need to submit documents as per item 1, 4 and 5.
Sole Proprietorship / Partnership / Self Employed

– Purchased of passenger vehicle

– Purchase of other than passenger vehicle		NRICDriving License (applicant only)Certificate of Business Registration (Form A or Form B plus Form D)Relevant document as proof of income of businessTrading and Profit Account and Balance Sheet of the firm (except for self employed)Latest 6 months Bank Statement (Sole Proprietor & Self Employed)Latest 3 months Bank Statement (Partnership)NRICDriving License (applicant only)Certificate of Business Registration (Form A or Form B plus Form D)Relevant document as proof of income of businessTrading and Profit Account and Balance Sheet of the firm (except for self employed)Latest 6 months Bank Statement (Sole Proprietor & Self Employed)Latest 3 months Bank Statement (Partnership)Registration CardPerforma invoice or invoiceNRIC & driving license of seller if the seller is an individual
ApplicantNew Vehicle / Unregistered reconditionedUsed Vehicle
Private Limited Company

– Purchased of passenger vehicle

– Purchase of other than passenger vehicle		Form 9,13, 24 & 49Latest Company’s Directors and Management profileLatest 3 months’ Bank StatementGuarantor(s) NRIC (if applicable)Form 9,13, 24 & 49Latest Company’s Directors and Management profileLatest 3 months’ Bank StatementGuarantor(s) NRIC (if applicable)Registration Card Performa invoice or invoice
Public Listed Company

– Purchased of passenger vehicle

– Purchase of other than passenger vehicle		Latest Form 49 Latest Audited Annual Financial Statement (except for Direct Hire Purchase facilities)Latest Form 49Latest Audited Annual Financial Statement (except for Direct Hire Purchase facilities)Registration CardPerforma invoice or invoice

Customer may provide other evidence of income such as rental, investment etc as to strengthen the application



HP Repayments 

Easy Road to your Repayment

Zoom through our fast and convenient banking channels for high speed servicing of your monthly repayments:

Pay via M2U

  • Go to “M2U”
  • Select “Account & Banking”
  • Select “Bill Payment”
  • Select “Make a one-off payment”
  • Select from List “Maybank Loan & Hire Purchase”
  • Select from List “Maybank Hire Purchase”
  • Account Details displayed, continue
  • Key in “Bill Acc.No. or Vehicle No.” (no space)
  • Key in “Amount, Account you wish to make payment from and Effective Payment Date”
  • Request for :
    • “Secure Verification”, You will receive a notification on your phone to authorize this transaction on the new Maybank app; or
    • “Secure TAC”, Enter the 6 digit TAC number generated from your new Maybank app; or
    • “SMS TAC”, Receive the 6 digit TAC via SMS to authorize the transaction
  • “Transaction Successful”

*Click ‘Add as Favourite Payee’ link to register your bill as a favourite


Perform Payment via ATM/CDM Machine

ATM

  • Select “Other Transaction”
  • Select “Payment”
  • Select “Express Payment”
  • Select “Loan/Financing”
  • Select “Vehicle Loan/Hire Purchase”
  • Enter “Acc.No. or Vehicle no.”
  • Enter “Amount”
  • Select the “Account” you wish to make payment from
  • “Confirmation” screen displayed
  • “Transaction completed”

CDM

  • Select “CDM”
  • Select “Cash Payment”
  • Select “Maybank Cash Payment”
  • Select “Loan/Financing”
  • Select “Vehicle Loan/Hire Purchase”
  • Enter “Acc.No.or Vehicle No.”
  • “Insert Cash”
  • “Confirmation” screen display
  • “Transaction completed”


Apply for Standing Instruction

  • Complete the “Standing Instruction Form”
  • “Submit” to your “Auto Finance Centre”
  • Payment will be automatically debited from your account on a fixed schedule every month

Alternatively, you may walk in to any of our branches to make payment. 

Payments via M2U for Hire Purchase or AITAB – ie.car loan/financing must be in complete instalment amount. Please add payments for any other charges eg. overdue interest or compensation fees with your instalment payment. Partial payments or incomplete instalment payment will not be accepted.

Application

Click here to Apply now via our online Application form

For Product Enquiries: kindly contact nearest Auto Finance Centre
Fax : 03 – 2283 2019

HP Loan Enquiry via Maybank2u.com



Hire Purchase Loan Enquiry is available through Maybank2u.com from 4:30am – 12:30am