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 Personal Loan - V2, which banks offer the best deal?

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Gen-X
post Sep 29 2011, 07:00 PM

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From: KL
QUOTE(kenshin1 @ Sep 29 2011, 05:11 PM)
yea yea... wat a b i-t c h.... now wanna talk about language... coward... that's y u failed ....
i said, salary, customer proved everything..so shut up and drive...
if im a kid, i wont earn so much...cos i knw how to think...i put my heart on my work... NOT LIKE U, QUITER...

PLS LEAVE, DONT ABUSE THIS POST... ALOT OF PEOPLE STILL LOOKING PERSONAL FOR THEIR FINANCIAL PROBLEM....DONT MAKE NOISE AT HERE...OLD KID
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Gen-X
post Sep 30 2011, 02:09 AM

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QUOTE(b00n @ Sep 29 2011, 11:40 PM)
Never seen any salesmen in here showing the effective rates of Ploans yet depending on how many tenors one is choosing.

Most of the time is fellow forumers whom advised on it... whistling.gif

Anyway, with BNM tightening on Credit Card regulations; we predict the next to come would be on Ploan. BNM and the government are already concern on the rising debts. Thus the word is BNM is coming up with a guideline to request banks to take full documentation of income proves as well as calculation of DBR.
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I posted below at CC section

I just read an article at Malaysian Insider where MBB CEO commented on Personal Loans. This guy only last night said he wanted BNM to maintain lower interest rate and today asking BNM to start monitoring Personal Loans. It is as if our BNM award winning governor needs to be told what to do (maybe she does because household debt is now 76% of GDP!). Anyway here is the breakdown of debt in Malaysia

Housing loans meanwhile accounted for 45 per cent of household debt followed by car financing at 20 per cent, personal loans at 15 per cent and credit cards and purchase of securities, each at 5 per cent.

To read the full article click here.

Car Loans and Personal loans are 4X and 3X higher than CC debt.

From what you said above, if you bankers already know BNM is in the process of tightening personal loans, then the statement by MBB CEO will make it seems as if BNM taking his advise, smart guy.

As for Effective Interest Rate for personal loans, I did an article about RHB Easy Cash where the interest is 8% and was surprised to note that one may even pay less interest with credit card interest rate of 17.5% (reducing balance) rclxub.gif Click here to read my article Credit Cards - Apps iPhone & Android, Easy Cash and Bankruptcy.

This post has been edited by Gen-X: Sep 30 2011, 02:10 AM
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