Sep 26 2009, 02:26 AM
QUOTE(novabankinghall @ Sep 14 2009, 10:35 PM)
KLIBOR based mortgage - this is proved to be a failure product in Hong Kong. KLIBOR based products fluctuate too high compare to BLR. The difference btw KLIBOR and BLR based loan is not justifiable considering investor is taking more risk into taking a KLIBOR based products which has more uncertainty.
Islamic mortgage - There is no prepayment allowed. Don't believe me? Ask them to show you the amortization table. Dunno what is amortization? Google is your best friend.
MLR - no comment.
Take Islamic Flexi loan, no need to do prepayment. Just dump money in the current account and automatic save interest. Extra benefit like waived RM10 monthly fee, capped max rate at 9.9%, some bank even give some interest for the money in the current account also. Penalty and lock in, same like normal conventional flexi loan also, 3% to 5% base on outstanding balance. Nowadays a lot banks also make their Islamic package very attractive. Islamic mortgage - There is no prepayment allowed. Don't believe me? Ask them to show you the amortization table. Dunno what is amortization? Google is your best friend.
MLR - no comment.
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