Recently i buy a property (under construction- need 3 years to complete) which cost 100k. Now im consider to get a personal loan to settle the payment. It is a correct to do that? Or else i need to get a housing loan? Plz advice.

Buy property of cos get a housing loan la... unless u too rich and wanna pay 11% p.a for personal loan.

Thanks for your reply. I heard that some of the bank can offer 4.1pa, or above for the personal loan. It is better than housing loan?

no...housing loan now BLR-2 ++

a positive side of using personal loan is no need any colateral involved. even if you default the payment, your house will not be lelong

I think those 4.1% perosnal loan is only applicable to Goverment Staff. Normal personal loan lowest i think will be around 9% p.a. But then the longest tenure will be 15years only.
Housing loan you can easily get BLR-1.5% = 4.05% and get the tenure up to 40years.

Currently Alliance Bank is offer very good rates for those 1st house under RM100k. You may try to get your loan from Alliance.
If you need recomment for banker, do pm me, i have a great banker from Alliance

With your property being mortgaged to the bank, there are no worries on issue like being caveat for no reason/property does not belong to you out of the blue

now.. at least blr - 2.. ask around.. uob oso offering this..
u cant get this interest rate for personal loan...

personal loan will normally give amt of 5x ur salary..
assuming, ur hse is 90k, n u paid 10k deposit..
u need salary of 16k (x5) to get loan of 80k

This post has been edited by dream.angels: Oct 9 2009, 04:14 PM

housing loan of course