KUALA LUMPUR: CIMB Bank Bhd, alongside its Islamic counterpart CIMB Islamic Bank Bhd, launched the 1-Minute Home Financing as part of CIMB’s InstaApproval platform.
The CIMB 1-Minute Home Financing facilitates complete approvals within a single 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 on 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.
"CIMB’s InstaApproval proposition reflects our promise to provide customers with not only great financial products and services, but also speediness of their delivery. The InstaApproval series also represents a fulfilment of CIMB’s commitment to continuously enhance our customer experience.”
Currently, eight developers are participating in the CIMB 1-Minute Home Financing InstaApproval, through a total of 60 property projects.
The developers are 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. More developers and projects will be added to this platform 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 6 new planned residential launches in the first half of 2018 priced below RM500,000,” said Mah Sing CEO Datuk Ho Hon Sang.
These 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 2-storey link homes in Johor Bahru and M Vista@Southbay in Penang.
"One of the challenges our buyers face is getting their housing loan approvals fast and CIMB’s 1-Minute Home Financing InstaApproval will help address this issue and ease the minds of homebuyers," he said.
Meanwhile, managing director of IJM Land, Edward Chong said the company understand the pressure customers go through when looking to purchase a new home.
"One of the biggest challenges for homebuyers, is waiting for loan approval where the process may take some time,” he said.
"CIMB’s 1-Minute Home Financing InstaApproval scheme offers a quick, simple process which provides an instant mortgage approval and helps homebuyers move quickly to secure the house of their dreams. This is a very good initiative from CIMB Group with immediate mortgage processing and that’s a welcome change for home owners, buyers and the property sector as a whole.”
President and CEO of Eco World Development Dato' Chang Khim Wah said this initiative have come at the perfect time.
He said with cooling measures in place, loan approvals have been one of the obstacles for our keen purchasers as they are not able to get a timely approval to secure their dream home.
"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,” he said.