“Time is money,” quipped Benjamin Franklin, and would you ever want your time to be wasted on something unnecessary? Case in point: the tedious task of having to go from one place to another, just to get the comparison you need for a particular product or service.

Major financial decisions such as a home loan traditionally takes a long time to obtain, sometimes without guaranteed success. Many homebuyers are turned off by this complicated process, the hassle of which also prolongs the buying decision process.

While in the past, you’d need to contend with travelling from one bank to another, there’s now a handy tool which does all the dirty work for you:

 Home Loan Eligibility Report

The unique selling point: a comprehensive report which contains all the vital information you’d need, instantly at your fingertips. Let’s have a closer look!

1) Step one: Fill in personal details

This tool simplifies the entire monotonous process of filling in your personal details to that of just a few questions – eight to be exact! These questions are no-brainers, as can be seen below.

After you’ve filled up the first few basic fields, the next one would prompt you to fill in your PCB (scheduled income tax deduction). For the uninitiated, PCB is a mandatory system where the employer is required to deduct monthly tax payments from the income of their employees, so there’s no escaping it. Do note that tax payees would still need to file their returns with the Inland Revenue Board Malaysia (LHDN) for the final tax figure.

There are just a few more questions after that, and then the calculator will provide you with a brief summary of all the details you’ve keyed in for reconfirmation. Notice that the entire process only took five minutes of your time?

2) Step two: Receive complete report

Once you’ve checked that your information is correct and submitted it, you’ll instantly receive an average result summary on your screen. It gives the applicant a clear idea of what to expect from each bank, such as the maximum loan amount affordability and the debt servicing ratio.

For more in-depth information as to what is the indicative amount you can receive from 15 banks in Malaysia, all you’d need to do is provide your email address and the complete report will be provided to you within 15 minutes, fuss-free! Here’s what to expect in your inbox:

3) Step three: Make your choice

Now all that’s left to do is refer to the list of banks and then proceed to choose the one that fits all your present needs – from the instalment amount to the loan amount. Since there are 15 on the list for you to choose from – and there are even rating guidelines provided to show which banks have a higher chance of loan approval – this is as easy as 1-2-3!