you check for me? do you mean that you are bank islam's agent for the personal loan?

i looked at product disclosure sheet from bank islam and came across with this term "effective profit rate".
can someone tell me what is the meaning and how it different with "profit rate" pls..

TQ

yup..
PM me details of ur employment..

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Added on June 3, 2012, 1:59 pmit all depends on the company u'r working with..

if u r working with a small company e.g. 'big company enterprise' - u r not eligible 2 apply any unsecured loan with any bank in Malaysia no matter how big ur income is.

but

if ur current emplyment is with 'small company berhad' or 'big company sdn bhd' - u may apply with any bank but subject to ur credit rating.
i suggest u may apply with al-rajhi bank. current rate i guess during non-promotion is 8-10%

but if ur company is a bank islam panel co, ull be given 3% p.a. , 15 years period of financing(max) an up to 200k of financing amt


This post has been edited by locomotive: Jun 3 2012, 01:59 PM

ill explain the 'profit rate' 2u, look at the attached file


ie if u apply 10k for 5 years (60months) period at 5.6% p.a.; (this is 2011 rate for Bank Islam personal loan financing)
monthly payment is FIXED at RM213.33.

RM213.33 x 60months = RM12,799.80

RM12,799.80 - RM10,000.00 = RM2,799.80 is a MAXIMUM Bank Islam profit taken in 5 years period of d said financing.

a) max profit taken must not exceed RM2,799,80. there is no compounding interest, hidden charges etc imposed on u.

b) profit taken might be less than RM2,799.80 if you opt for early settlement.

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Added on June 3, 2012, 3:33 pmnow let me xplain 2u about 'effective profit rate'

- the concept is similar to the conventional Base Lending Rate (BLR)
- Islamic financing provide u a ceiling rate that represent d max rate 2 b charged 2u unlike conventional, they dont provide u a ceiling rate.
- therefore the change on BFR would have and impact and ur monthly repayment
- should d global market down turn, BLR will get lower; global market on uptrend, BLR will get higher as well.

eg

year BLR rate of financing

1998 12.27% 12.27% - 2.4 = 9.87% p.a.
2009 5.55% 5.55% - 2.4 = 3.15% p.a.
2010 5.80% 5.80% - 2.4 = 3.40% p.a.
2011 6.30% 6.30% - 2.4 = 3.90% p.a.
2012 6.60% 6.60% - 2.4 = 4.20% p.a.

so your monthly repayment in 2009 is lower (3.15%) than 2012 (4.20%) . in 1998 ur rate at 9.87%

probably ur monthly repayment for 2009 is RM300, while in 2012 is RM370. in 1998 ur monthly repayment probably soar to RM1000.



This post has been edited by locomotive: Jun 3 2012, 03:33 PM


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i also hv cash on call with HLB platinium outstanding amount rm 33,800, alliance bank reject me for PL just because my HLB CC over limit plus cash on call interest, but SCB approved and loan exactly amount i applying....

If I have

Option A: with 8.5% interest rate per annum <No processing fee/stamp duty>
AND
Option B: 9.5% per annum reducing balance <0.5% stamp duty>

which option should I choose for personal Loan?
Please help.

..cont (part 2)

pratically or d easiest way to explain 'effective profit rate is (please look at the attached file / latest rate offered by bank Islam 2012)

RM10,000 /5 years tenure at 3.32% p.a -
d table below shows u have to pay RM193.33 fixed from d 1st month till 60th month.

however at d end or during final payment, again bank will calculate is there any amount extra required 2 b paid/or refund should be made from both party if any changes at profit rates given earlier.

lets say on 3rd year, financing rates drop to 3%, during final settlement, bank will refund a couple of hundreds 2u
or 2nd year rate is 3.5%, upon final payment u r required to add a couple of hundred

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Added on June 6, 2012, 3:22 ambro, each bnk has a different set of calculating or review ur aplication
even different brch with a same bank has his own style of proccesing loan
the best part is.. even sales officer/ processing officer / approving officer in a same brch has different ways doing wat they were doin.

ive seen a lot of cases.. where Mr. A loan application rejected by bank Islam brch X , after getting my advice he submitted again in another bank islam brch Y
his loan approved.

the same goes to another applicant Mr B, submit his applicaton to officer X - his 50k loan rejected n later (with some adv from me ) submit again his apl to officer Y (d same brch) his loan approved and this time amount approved was 80k.



This post has been edited by locomotive: Jun 6 2012, 03:22 AM


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Do you need any Business or Personal Financial Assistance at this moment?

1. Fixed rate and flexible tenure up to 10 years
2. No hidden fees, No Guarantor or Collateral needed etc
3. Hassle free application
4. Minimum Income :RM2,000 and above
5. If business :- operate more than 1 yr
6. Must have a CCRIS record more than 1 yr
Ie: HP Loan, Mortgage(under principal owner), Credit Card or personal loan etc
7. Can go up to x10 your net income as your loan amount

I am a Personal Financing Manager from a Singapore bank set up in Malaysia (not outsource agent), i work in the Klang Valley area, feel free to contact me on any loans needed, my hand phone number is 0133124833. I will explain the details over at the phone.

let say i want to buy used car from a person (not used car shop etc) for hobby purpose, price range 50-60k, but i don't have enough cash.

should i take personal loan for it?

or any bank provide loan for this purpose?

Just take normal car loan. Taking personal loan will be crazy

Uf you are government staff,better take PL..

no i'm not gov. staff

so which bank should i go to?

Asking on behalf of my house mate .. she is currently earning approx. RM1.3K per month. Would it possible she can get a loan of RM3K from any bank in Malaysia ?

Bro can i know which bank offer you "9.5% per annum reducing balance" ?

All agents! Pls contact me urgently!

Salary
RM5000

Commitment
2 PL from EASY RHB = total RM625/monthly
1 PL from Alliance Bank = total RM288/monthly
1 installment plan from UOB = total RM700/monthly
1 pending CC from MBB = total RM9000

no car and housing commitment for now

Any way I can get a RM7000 loan from whatever bank...and I need it quickly...

Pls contact me !!!!

Any bank offer rm20,000 with 10year repayment period?
I want to know the interest.

hey guys.. just wanted to.enquire. im looking for a loan of rm20k for kawin lol... hav been working in hsbc cyberjaya for the past 1.6years. salary gross at 1.9k. pls do help me. thanks in advance

Bro,

Although getting marry is good, but please do not burden yourself by getting a personal loan. After getting married, your expenses will increase a lot and you will have problem in paying back the loan.

Save more from current pay and do cashflow projection with you girlfriend or fiance. When you guys are ready then only get married.

Believe, getting PL for marriage is not good at all. Get marry when you can afford it.

Yes, she can try to apply... Please PM me.....

Anyone had take personal loan with Diners Club?

The one package that come also with credit card.

Is Diners Club credit card worth it to be take for normal expenses.

I get this offer through call and email.

Please give me some advice. I have UOB classic one card now and my basic is 2750 (gross).