I applied for SC and UOB same day last Tuesday.

SC really fast. Last Thursday call me to tell me my loan is approved. Today e-mailed me the Loan Agreement for me to look. Impressed with their speed.

When I applied UOB, the lady told me very fast. Can let me know by last Thursday. Called her yesterday, she told me today. Called her just now she says tomorrow or Thursday. She apologise for so slow because many staffs on leave. Anyway, she told me I don't have to worry because I sure can get the loan because I am first time buyer and no other commitment except car loan.


SC terms give to me are:-

Interest rate: Year 1 = 0, Subsequent year = BLR - 1.85%
Interest: Monthly rest basis and capitalization monthly
Prepayment: Not allowed prior to full drawdown. Upon full drawdown, prepayment/redemption is allowed in multiples of RM1,000

I am not too happy with:-
1)Interest on Monthly Rest Basis
2) Prepayment condition. I have not withdrawn my EPF and was planning to withdraw in 5 years time but with the prepayment condition, does that mean I can only pay RM1,000 monthly?

Hope any sifu's here can clarify whether this is a good deal?

This post has been edited by oucheev: Dec 29 2009, 09:56 PM

Got a call from my UOB agent. My loan is approved but the Letter of Offer is still not out.

Even though I have not seen the Letter of Offer, I think the terms are better than SC.

The main thing is UOB is on daily interests whereas SC is on monthly interests.

Also, UOB lets you include the legal and stamping fees into the loan.

Anyone is taking EPF to pay the 10% deposit? I have already signed the S&P agreement last Sun.

I can't submit to EPF yet because the S&P & Loan Agreement is not out yet and I think this will take another week or two.

How long will it take to withdraw from EPF?

I am staying at Tmn Sri Manja and pass though the place everyday.

Looks like they have started pilling work because all the cranes have been moved from the shophouses to the condo area.

Anyway, my part time Indonesian maid husband is working there and she told me everything have started.

Me too! Count me in!