Hong Leong Bank SME loan - See what we found and what you need to watch out for.

As we have seen so many “comparison” comparison platforms or bloggers reviewing Hong Leong Bank SME loan, we thought we would chip in, but with a twist. Before that some background.

Hong Leong Bank (HLB):
Headquartered in Malaysia with Singapore branches, HLB functions as a commercial bank. It provides SME loans, deposits, and corporate banking solutions, and when operating locally, it is regulated by MAS as a bank.

Hong Leong Finance (HLF):
Based in Singapore, HLF is the nation’s largest finance company. It focuses on SME financing, property loans, car loans, and deposits, but unlike HLB, it is licensed under MAS’s Finance Companies Act rather than as a bank.

Both are related at the group level. But here's what you really need to know.

Not all comparison platforms are what they claim to be—many are nothing more than advert-driven portals, serving the advertisers that pay them. So forget about biased reviews.

Across markets from the U.S. to Australia, authorities are uncovering that these platforms often promote results based on payment, not on what’s truly best for the applicant or consumer. What you see isn’t always an unbiased comparison, but a ranked list bought by those who pay the most.

While general information, such as miles or points per dollar spent, is easy to research, loan amounts and interest rates are highly personal. They change from one applicant to another based on each individual’s credit score & profile. That rate they “reviewed” or “compared” for you is actually a teaser rate. Here’s how it works in detail. They are rates that you may or may not get, and in many countries, regulators are either suing them for clickbaiting consumers or publishing warnings on them.

But if you are pressed for time, you don’t have to read the article above - here is an image that says it all.

Credit: Head of Lendingpot. Strangely enough, Lendingpot appears to be exposing its own practices.

When we first exposed the conflict of interest in brokers tied to lenders, we didn’t expect them to repeat it months later. Yet they did—while owned by IFS Capital & PhilipCapital themselves! Maybe that’s what happens when you copy our work without understanding it? We aren't sure if that is what they are doing. But one time too many is not a coincidence, isn't it? For more of their contradiction or to join the conversation, click here. 

Credit: Public review found on Seedly and Google

Every now and then, you’ll see them write comparisons like “this loan vs. that loan.” But think about it—if they claim to compare 10 loans, did they really take all 10 and pay interest on each one?

In the UK, advertised rates must be real for at least 51% of customers. No such standard exists in Singapore. And even then, consider the details: a 1% rate means little if it only applies to $500 while you require $5,000. The real danger is if you use a loan “comparison” website and go with the loan they recommend, without checking other options. You could have ended up paying thousands more. Another bank might actually have offered you a cheaper rate. We explained this further in the article above.

And thus we built FindTheLoan.com, Singapore’s 1st loan exchange. Instead of teaser rates or applying with multiple lenders one by one, you can reach multiple lenders at once with your actual documents, and they will make a full credit assessment as if you had walked in to them individually, and they will revert with their actual offer.

If you think such advertising practices don’t look right, we invite you to share your thoughts on this LinkedIn post or on our Reddit, TikTok, or Facebook post, if you prefer. However, we have tagged a number of MPs on LinkedIn who, during parliament, have asked about matters such as greater consumer protections. Weighing in there, and as more people share their thoughts there, could finally catch their attention to do something about the industry and better protect borrowers. Every comment, repost, or show of support matters — it increases the chances that policymakers take notice and act. We cannot stop lenders from working with them, making them richer and amplifying their reach. But we can call out misleading advertisting. 

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