thanks sifu. this pl is islamic financing.i thought they will give more discount compared to other conventional bank.

My dad is not happy with the rebate given, he was expecting more rebate since we want to make early settlement .
(I made pl for him, he wanna settle early since he got extra moneh)
He said we're being cheatedl. but personally i think this is how they can make such money, lol
Summore he want to report to BNM if the bank don't want to negotiate. Is that gonna change anything?

You are not being cheated, the bank is merely following the settlement procedures stated in the loan documents which you have signed. PL is always the poorest form loan to consider as the customer will have high interest rate and 'locked' in interest payment, hence even if you do early settlement, the interest is still being counted for the loan tenure. The bank have to make a lot of money for PL because PL do not need collateral, hence the risk is high for PL and also PL have high default (run away! ) rate.

PL loan settlement is also calculated similar to car loan settlement, so it not a new model. That is why no one take 15 years car loan.

I do not think complaining to BNM will help as the bank is following the rules. You can try to appeal (ask nicely, )to the bank for higher discount, but most likely the bank will not entertain you unless you have good relationship with the bank.

If you want to clarify, you can ask the bank to do calculation for you.

This post has been edited by gark: Oct 5 2012, 04:09 PM

Locomotive

Thanks for your reply.

The fact is, you already sign the form / agreement. If you want report to BNM also useless, just accept the true. From what i know is bank wont negotiate, if 1 person nego success then everyone also wan to success rite ? For further information, better drop by branch.
* You should go thru with the sales staff before u proceed for loan application.

Jz my own opinion

Can anyone let me know which bank does not need Full BE form to apply personal loan. I just have page 1 and 2 for it so it is incomplete.

bro thx for the help!

my loan rm30k approved with the help from this guy when other bankers rejected my application..

recommended, superb service, with the explanation and so on.. he knows his job well...

im not promoting him, but i think u guys should giv him a try..really, its worth..

yesterday collected my cheque, money will disbursed in few days

Lolz what's wrong with you? You so mad for what? We are here to looking for personal loan services. Before we proceed here I believe most of us has visited financial management. And we decided to get pl for our own. If you too rich to understand what we are facing, you can stay out of here no offense. You are staff of here but doesn't mean what you say we have to be agreed with you other than the terms and conditions of this forum. I respect every rules you made in here but if you getting mad for what I have said and you think is funny so just leave man.

Congratz bro. BTW..what bank that approved u ?

anyone familiar with biro angkasa PL?

Hi guyz,

I am planning to get 100k car loan for honda crz, basic fix 3100 + allowance fix 450.
Commitment is personal loan around 650. Any advise to secure my car loan?

imho the lowest so far is bank islam with 3.25% pa if bundle together with their product..e.g credit cart, takaful bla bla

plan to loan 50k , any1 know which best offer the lowest rate ?

brother, if you pay RM1,500 each month, then it is not called as "min pay 5% per month". If you using calculator or Excel worksheet to calculate the payoff of RM30k by 5% min payment (or RM50, whichever is lower), then the pay off months that you need is 120 MONTHS. (if you want the detail worksheet, i can email to you )

We are now discussing on using 5% min payment and not pay by fixed instalment that you mention (RM1,500 per month)

thanks

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Added on October 15, 2012, 3:19 pmAgree, brother!!

You see i have "10% warning" due to last time post some of my bank's promotion here. So annoying because last time don't know the rules. They should pm me to let me know the rules before doing that.



This post has been edited by stevenkwan: Oct 15 2012, 03:19 PM

hello sifus..

newbie here. just wanna ask. if i wanna do personal loan at any bank. does my salary affected on how much i can ask for loan?

tq

yeah. Bank will decide the loan amount based on your monthly/yearly "income"

tq2

You weren't aware of the rules ? You must be joking right ? You did open up a new thread in Services Notice Board on the very same day I posted here saying that no sales pitch allowed in here but at the same time, you blatantly ignored it and continued to spam here

I received call fr oxxc regarding their pl..interest 7.5%..any other bank offer better than this..?

This post has been edited by dRwh0: Oct 16 2012, 11:23 AM

You are assuming I am mad. However I am not. Since we are in Financial Discussion forum, we have the obligation to "advise".
The equation is as what I have stated. So how committed you are all depends on yourself.

Are you seriously in sales? 5% of RM30k is RM1,500 as the min payment. Min payment of RM50 only applies for those balance RM1,000 and below. But obviously if your balance outstanding is less than RM50, then you have to pay the full amount.

If you want to argue, you can basically argue based on the fact that once your paid the initial RM1,500 min pay then the subsequent month min pay will be lesser. But then again if one is committed to pay RM1,500 monthly installment in PL, why not their cards?

To make it work, then the PL installment will need to be lesser than the min pay i.e. same example, but you cannot afford to pay RM1,500 monthly. Hence you need a lower repayment. But the flip side will be longer tenure and ultimately the total repayment is higher than what you will owed in cards.

Hong leong doing an offer now.

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Added on October 16, 2012, 12:43 pmHi. They do hav lower than this rates. Like bank rakyat , bsn and bank islam. This is my opinion, if you have good budget, choose comerce bank like ocbc. Why im say so,even u go apply bank rakyat with 3.5% by paying maximun is 8 yrs. u can calculate with 7.5% by paying the maximun is 5yrs with base you apply rm20k then u see the difrent and u will understanding what im trying to tell you.

This post has been edited by tygel87: Oct 16 2012, 12:43 PM