Hi everyone,

Is it possible to cancel an approved loan from the bank? Recently i applied for an ASB loan of 50K @ 15years thru Maybank and it was approved, but i did not sign anything as i have yet to go to the bank.

I want to cancel because recently something happened within my family that has caused me to channel my cash towards medical support for my parents. and after calculations, it was deemed that the monthly repayments may seem to be a bit of a burden (maybe cant afford) to me in the long run.

I was told by the bank officer that if i cancel the loan, i will be blacklisted by BNM and the Bank. is this statement true? can anyone confirm this? it has been really bugging me for some time and i need to make a decision now.

hope to get response from u guys soon.

Cheers~

no la..as long as you did not sign the loan aggrement.. u haf right to reject...i think they just want to scare you laa..

last time i reject a house loan from maybank..i said got better offer from other bank mahh..i talked face to face with the officer be gentlement..several month later i apply another loan with maybank at the same branch..no problem at all

Call BNM directly and ask them. After that tell them that the bank officer threaten u with such a claim. Should teach the bum a lesson.

That's great to hear, i will try to talk to the loan officer abt this then. thanks!


I was considering this option too. I already sent an email to BNM and still waiting for some response.

No, it's in no way any violation.
As a consumer, you have the right to cancel the loan before it was disbursed.

However, if the money was disbursed; then there might be penalty charges.

But, no you wouldn't be blacklisted.

If you're still unsure, there is a surefire way to confirm and put your mind at rest. Call another Maybank branch where they don't know you and rephrase the question. Ask like this ...

"I want to apply for an ASB loan, but I'm not sure if still can or not. Because a few months ago, I applied for a Maybank loan, but I cancelled it after it was approved, but before anything was signed. I had a good reason. It was not like I was not serious in the application. But the bank officer told me that my name would be blacklisted by Maybank and Bank Negara, because I didn't go through with the loan. Is this true or not? Does that mean I cannot apply for the loan with Maybank now?"

banks and BNM shouldn't blacklist sumbody just becos he cancel a loan which he didn't commit yet as he has not sign anything. we as consumers has the right to choose.

hah??...never heard of blacklisted with sum body never sign any agreement ler..

but b4 u take action, call to BNM n check for ensure tis matter..

Consumer has the right to choose thus the statement by the officer akin of playing poker with you.

No repercussion unless you serially applied multiple loans in 1 year.

I have cancelled two personal loans about 6 months ago after they were approved but before I signed anything. Last I checked at BNM there were no issues on my credit report.

CCRIS not only track 1 year repayment, it also track 1 year application.

Imagine if you applied like 10 PL approved in a span of 1 month....

you wont get blacklisted...the loan officer is bluffing ...

You won't get blacklisted. True. Just be weary of applying unnecessary multiple applications in short span of time.

wont get blacklisted.
as boon said, just pay something, like a penalty charge or a cancellation fee.
maybe enough just for the bank to pay for the lawyer if any work done.
rm100-rm200 ringgit i suppose

Thanks for all the input guys,

For your info, no, i haven't been serial loan applying for these past year, this is like say, my second loan after my car loan. my credit rating should be ok i think.

btw, here's the feedback i got from BNM. Not helpful, in the end they just ask me to issue a CCRIS report? wth?:

Dear Sir,

Your e-mail on the above subject is referred.

We would like to clarify that Bank Negara Malaysia (the Bank) does not have any blacklist system. The system that we have is called Central Credit Reporting Information System (CCRIS) that collects credit information on borrowers (only from institutions regulated by the Bank) and supplies the information back to lenders to help them establishing a view of the credit histories of potential or current borrowers. Further information on CCRIS would be available at http://creditbureau.bnm.gov.my

We would like to suggest that you apply for a copy of your credit information collected by the Bank to verify the reporting of credit by the financial institutions on you. Please refer to http://creditbureau.bnm.gov.my/index.php?c...7&ac=10〈=en for information on procedures to obtain your credit report.

Hope the above have clarified your queries.

Thank you.

BNMTELELINK
Bank Negara Malaysia
No Tel : 1-300-88-5465
No Faks : 03-21741515
Email : bnmtelelink@bnm.gov.my


Yeah, ive already canceled the loan, and they complied only after ive said that i have called BNM and have an E-mail as proof that there is no such thing as blaclisting customers. Quite troublesome la banks nowadays, act like gangsters or what not, no wonder people go to Loan Sharks.

This post has been edited by Fasap: Mar 30 2010, 10:46 AM

haha..good job TS..they also wan to do business ma..just they act like gangster only la..

Like I explained countless times also, there's no such things as "blacklist".
You can learn more about CCRIS in this pinned topic: http://forum.lowyat.net/topic/741069


And yes, most banks are intimidated by BNM. So put forth that you've talked to BNM, most of the time they would comply already.

car also bank asked gangster to take your car if not paid..

good to hear you able to cancel you loan without hassle..any loan without signing agreement, can be cancel..like car loan also..no worries..

did u sign the acceptance offer or letter offer? If not you are def not obligated to the loan.

i advise u to report the bank officer ethical to the branch manager to put him/her into investigation and even can report to bank negara

ppl cari makan only, maybe the method is wrong, don't send that guy career to hell la... haiyo chill la...
BAFIA ACT no joke one.

TS, wont be blacklisted by bnm, its just a lame closing sales skill use by that banker...
TS, advice him to stop saying those crap or he will be in trouble one day.

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Added on April 9, 2010, 3:04 amHowever certain bank will not allow you to apply any loan facilities with them if you rejected their offer, for a period of 1 year.
only certain.


This post has been edited by yssee85: Apr 9 2010, 03:04 AM