Asset-rich retirees are in Hong Leong Finance’s plan in its new term loan.
It is now possible for retirees who own private property to access a new loan scheme which can easily help them to produce funds out of their homes. Hong Leong Finance (HLF), a renowned finance firm, has announced a program which will be extending cash to retirees in form of term loans. The scheme, which could come quite in handy for retirees, targets those who have a paid-up property and are in need of accessing ready cash for their immediate developmental use.
Retirees who are absolute owners of property will be eligible of borrowing up to 50% of their houses net worth. Clients will be free to make a choice between variable and fixed rate packages of the said loan.