Industrial Hire Purchase

What is Hire Purchase Non- Act (HPN)?

Hire Purchase Non-Act is a facility that provides financing for equipment or machinery that are not listed in the first schedule of the Hire Purchase Act 1967 for business and/or industrial purposes. You make an initial down payment and pays the balance plus interest in instalments. You do not own the item until the final payment is made.

Who is eligible for HPN?
  • Sole proprietorships
  • Partnerships
  • Private Limited & Public Limited Companies

Terms and conditions apply.

What asset could be financed under HPN?

You can get financing for the acquisition of various types of assets such as commercial vehicles, computer systems and IT related equipment, plant and machinery, construction equipment, material handling equipment, eco-tourism related equipment, health services related equipment, energy related equipment (including Solar Photovoltaic), oil and gas related equipment, and office equipment.

What are the key features and benefits of HPN?
  • Financing tenor of up to 60 months (5 years): Tenure differs with the type of equipment / machinery which ranges from 3 up to 5 years.
  • Fixed interest rate & instalment: Interest rates and monthly instalments remains unchanged for the duration of the loan
  • High Margin of Financing: Enjoy margin of financing up to 100%, subject to the company’s credit evaluation.
What are the documents required for loan application?
  • Certified true copy of Company’s Statutory (Business Registration Form)
  • Audited account (latest 2 years)
  • Bank statement (latest 6 months)
  • Director IC
  • Quotation of the equipment purchased
  • Debtors and creditors aging report
  • Any other documents as and when required for evaluation
How is monthly installment made?

We offer various payment modes to made your payment easier and convenient, which includes the followings:

  • Interbank Banking (including Interbank GIRO)
  • Cash Deposit Machine (CDM)
  • Cheque Deposit Machine (CQM)
  • Direct Debit

Click here for details.