Do balance transfer.More worth it.Interest lower compared to personal loan.Now Maybank offers lowest interest rate.
Balance Transfer, What is it actually???
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 Aug 11 2009, 04:21 PM
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#1
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696 posts Joined: Nov 2005 From: Ipoh, Selangor, KL   
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Aug 11 2009, 08:07 PM
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#2
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696 posts Joined: Nov 2005 From: Ipoh, Selangor, KL
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QUOTE(shanelai @ Aug 11 2009, 04:55 PM) Anyone here know what is the initial processing fee or "admin fee" for applying this balance transfer? No admin fee or processing fee for Maybank.U just need to pay the interest only.If unable to settle withink 6 months, what is the consequences and the following interest charges? still the same at 1.5% p.m.??  |
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Aug 12 2009, 10:14 AM
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#3
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QUOTE(shanelai @ Aug 12 2009, 08:58 AM) Is the interest charged is one time off or base on your balance? Ie. For eg transfer RM10k for 24 months with 0.375% = RM900? If i am not mistaken, its RM900 for 24months. U divide into 24 months to pay monthly.It means u need to pay RM454.17 per month. |
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Aug 12 2009, 11:01 AM
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#4
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QUOTE(shanelai @ Aug 12 2009, 10:58 AM) oh.. The other day, i accompanied my friend to MBB and ask about this facilities.She applied for it but failed to get the balance transfer.meaning it is flat for 24 months then.... Thanks for the info. btw, how you know much info about this facilities offer by mbb? R u the staff or? |
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Aug 12 2009, 03:30 PM
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#5
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QUOTE(shanelai @ Aug 12 2009, 11:24 AM) Ic.. What is the problem caused her to fail? Then what is her alternative? They didnt tell y she didnt get the balance transfer.She got no choice, just continue with her current loan from StandChart & RHB with a higher interest rate. |
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Aug 13 2009, 01:14 PM
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#6
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696 posts Joined: Nov 2005 From: Ipoh, Selangor, KL
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QUOTE(shanelai @ Aug 12 2009, 05:26 PM) Ic.. Why dont she try to apply other bank BT? although it is higher but it is definitely lower than CC interest right? Standchart & RHB is balance transfer.But their rates is higher compared to Maybank.So she thought of merging 2creditcards into this Maybank so she no need to travel 2banks everymonth just to pay off the debts. |
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Aug 13 2009, 03:38 PM
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#7
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QUOTE(azam_halim @ Aug 13 2009, 02:07 PM) if i do balance transfer, let say 24 months plan, do i have to pay equally for 24 months or is it at least 5%? U need to pay equally.U may pay 5% but the balance they will charge normal credit card interest.Which is 18% per annum. |
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Aug 23 2009, 11:34 PM
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#8
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QUOTE(xphossis @ Aug 22 2009, 09:39 PM) so which is the best bank to do BT now? I checked out the other day and i found MBB is the lowest.U may check with them again..any comparison chart?  |
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