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Home Improvement Loan Scheme (HILS)

What is HILS?

It is an additional loan facility for the sole purpose of home improvements and related expenditure.

Who can apply and what are the Features/Criteria?

  • Existing officers from State Government or Statutory Bodies whose subsidized main loan are already now with BHMFB. 
  • New loan application to be subsidized by state government/statutory Bodies can also apply for the HILS loan provided the house is completed with OC issued. 
  • Loan amount of RM10,000.00 up to RM50,000.00. Home Improvement Loan to be approved + balance outstanding does not exceed 100% of the valuation of your property. 
  • Net take home pay inclusive of HILS repayment should not be less than RM518.00. 
  • Interest rate currently is 8% p.a. on monthly rest. The rate is subject to change from time to time. 
  • Head of Department/employer are agreeable to the deduction of salary. 
  • If existing loan account is already with us, the account must not be in arrears. 
  • If Title Deed is available, remaining leasehold must be at least more than 20 years. 
  • Maximum repayment period of not exceeding 10 years, remaining original loan period or not exceeding the age of 55 whichever is the minimum.
  • Automatic Term Assurance which ensures HILS loan can be fully paid should anything happen to you:
    • The premium is paid annually through BHMFB’s insurer.
    • To minimize cash outlay, BHMFB will pay the premium upfront and the instalment will be included in your repayment to us. Automatic Term Assurance which ensures HILS loan can be fully paid should anything happen to you:

What are cost/expenses incurred to obtain the HILS?

  • For a limited period only, BHMFB is offering to absorb the loan processing fee, charges incurred for printed legal documents and legal fees for loan documentation.
  • You only need to pay stamp duties and registration fees for the loan documentation.
Apply Online

Home Improvement Loan – Flexi

It is personal additional loan for Government Officers and Staff of Statutory Bodies/Agencies.

What is so special about HILS – FLEXI?

No processing fees
No legal and professional fee #
No further valuation required **

Characteristics of HILS – FLEXI?

Purpose : for housing related matter and expenses.
Security : to be secured by a further charge on existing housing loan security.
Interest : Rate Interest rate is presently 8.5% * per annum charged on monthly reducing basis.
Loan : Amount RM10,000 up to RM50,000 subject to our terms and conditions.
Loan : Period Remaining period of the Main Loan or not exceeding age 64.
Insurance : Term Assurance is compulsory and must be taken through our Company’s appointed Insurer.

Loan eligibility?

Remaining leasehold of 20 years or more.
Monthly repayment to be made through deduction of salary.
No arrears in Main Loan and other loans (if any)

# You will need to pay the stamp duty and related charges for the legal charge on the property.
* Interest rate is subject to change without prior notice.
** Subject to terms and conditions or any variation.
*** The Company reserves the right to vary the above information, terms & conditions from time to time without assigning any reason whatsoever.

As funds allocated for this scheme is limited & application will be processed on a 1st come 1st serve basis, please hurry and get in touch with our most friendly loan processing personnel.

Any Inquiry? Let's Talk.

We welcome any and all suggestions, so leave us a comment and we will get back to you.

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