Maybank introduces Maybank Home²u, a fully-digital financing solution for home buying

PETALING JAYA (March 3): Maybank launches Maybank Home²u, a digital home financing solution that is capable of providing approval in just 10 seconds from the completion of application. 

In a statement, Maybank Home²u provides a fully digital experience of the home buying process from application to approval and signing of Letter of Offer (LO) right from Maybank’s MAE app. Never needing to go to the bank. 

Customers have the flexibility to package their home financing insurance while also not needing to submit income documents. Besides that, application approval could be done in just 10 seconds depending on the home they have chosen. 

Once approved, the bank’s mortgage advisor will contact the applicants to review the LO and perform the ‘Know-Your-Customer’ verification.

Datuk John Chong, group chief executive officer of Maybank’s Community Financial Services, said that the introduction of Maybank Home²u addresses the common problem among its customers - whether or not they are eligible for home loan. 

By addressing this problem, Maybank Home²u will enable its customers to find out their eligibility for home loan instantly or be given alternative recommendations on home units based on their affordability.

“Consumers are becoming more digital-savvy, demanding instant solutions that can fulfil their needs. The engine behind Maybank Home²u, which is developed wholly by our team, allows for instant eligibility checks and real-time approvals without the need for manual intervention.”

“This enables us not only to enhance the customer experience for our home financing applications, but also expand our operational efficiency in the processing of home financing applications.”

Chong also noted that the introduction of Maybank Home²u is timely amidst the recovering period of the country’s economic activities as he expects a pick-up in home purchasing. 

Therefore, giving a boost to potential buyers, Maybank will be assisting first-time home buyers on owning a home without having to pay a steep deposit by offering up to 105% financing margin.  

Maybank Home²u is available for both new and existing customers. 

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