I have an AIA home loan with BLR fixed at 6.25 and lock down period for 5 years.
Been serving the loan for 2-3 years and want to find the best way to revise or change to another housing loan.. Help needed...

hong leong or maybank, they are offering attractive home loan now, but since you are bond 5 years with AIA, if you want to do refinance now, you will have to pay for penalty, to break the bond..

how come you take fixed blr ler by the way..

During good time, no one know what will happen tomolo ma.

yea, 3-4 yrs back, BLR was 6.75 and interest rate was like +0.15...so fixed interest rate was a hit back then...but now...different story dy...

surely u can try with local banks...if ur loan amount is big...some will even absorb the penalty...i have 2 fren had that offer from Maybank..but loan amount >1mil

if ur willing to pay the penalty, i think can incurred into ur refinance amount, zero-moving-cost...maybe some banks can do that...

my wife with stand chart, if u wanna try with them i can ask her...u can pm me ur details..

Hi, When you refinance Banks will refinance the penalty into your loan.The only bank that will absorb the penalty without adding it to your current loan would be Maybank.

Example Loan amount RM300,000
Penalty 3% = RM9,000
Current outstanding RM 250,000

When you refinance within locking period
the new loan amount will be RM 259,000

Maybank Loan amount RM300,000
Penalty 3% = RM9,000
Current outstanding RM 250,000

When you refinance within locking period
the new loan amount will be RM 250,000

However this is subject to term and condition esp the location of your property

pm for further details

adrian - check your AIA offer letter. mine said that if i refinance within 5 years, there will be a penalty. meaning if i sold or redeemed by my own cash, no penalty. so i borrowed cash from my father, redeemed it, then refinanced it, and paid my father back within 1 month.