recently my friend's loan was approved by bank islam with 4.35% P.A interest rate for 9 years repayment period for her NEW proton saga BLM 1.3, she apply for full loan..

i was shocked to know about this as i thought the interest rate should be 4.1% only..

is it because she is applying for full loan? or because her loan is under graduate scheme program?

even she is not sure wheter she apply the loan for under graduate scheme or not as the whole process was done by her brother, but she told me her brother did ask for her scrooll, at that time she only able to submit 2 month payslip only as she need the car a.s.a.p and she's just start working...

she still has not sign any loan aggrement yet as her car will only available early oct.

i suggest her to submit another loan application to other bank but her brother is a bit reluctant to submit another loan because he said all bank will quote same 4.35% interest rate.

so what do u guys think?,




This post has been edited by h4dRi: Sep 21 2010, 01:28 PM

thanks fasap for the reply,

her net sallary & basic pay is around rm2000 and monthly installment is around rm500 which is less than 1/3 of her salary..

let say if she submit another loan application with 6month payslip and still applying for full loan, does she still need to find a guarantor?

i can't find anything regarding car loan interest from your link...