New Straits Times
CIMB UNVEILS 1-MINUTE HOME FINANCING
8 developers have signed up to be part of lender’s InstaApproval platform
CIMB Bank Bhd, together with CIMB Islamic Bank Bhd, has launched the 1-Minute Home Financing plan, which is part of CIMB’s InstaApproval platform.
The CIMB 1-Minute Home Financing facilitates complete approval within a minute upon full submission of information and documents, enabling a faster, secure, paperless and hassle-free home ownership journey for customers.
“In our aim to become a leading Asean universal bank, CIMB has been leveraging digital in a big way since the start of our T18 mid-term growth strategy in 2015,” said chief executive officer (CEO) of group consumer banking, Samir Gupta.
Eight developers, namely Eco World Development Group Bhd, IJM Land Bhd, IOI Properties Group Bhd, Mah Sing Group Bhd, Sime Darby Property Bhd, SP Setia Bhd, Tropicana Corporation Bhd and UEM Sunrise Bhd, are participating while more projects would be added over time.
“Mah Sing is proud to be one of the pioneer partners for CIMB’s 1-Minute Home Financing InstaApproval.
“We feel that CIMB’s initiative is timely as Mah Sing will be rolling out six new planned residential launches in the first half of 2018 with prices below RM500,000,” said Mah Sing CEO Datuk Ho Hon Sang.
The planned launches include M Centura in Sentul, M Vertica in Cheras, Southville City’s new Sensa Residence and Cerrado Residential Suites Tower C and D in Greater KL, Meridin East’s two-storey link homes in Johor Baru and M Vista@Southbay in Penang.
Meanwhile, IJM Land managing director Edward Chong said the company understood the pressure customers would go through when looking to purchase a new house.
Eco World Development president and CEO Datuk Chang Khim Wah said the financing initiative had come at a perfect time.
He said with cooling measures in place, loan approvals had been listed as one of the biggest obstacles for interested purchasers as they could not secure timely approval.
“CIMB’s 1-Minute Home Financing InstaApproval is not only an added convenience for purchasers, but for developers as well, as the approval can be done at the respective sales galleries,” said Chang.