Ativa
Loan 62k 5 years
Ambank 2.43%

I guess this rate already considered decent?

Honda City Sedan RS Petrol New FL

Public bank
93.8k
2.65%

Is this considered okay?

Porsche Taycan GTS
Ambank
744K
2.55%
9 Years

BMW iX1 EV
affin
2.27%
7 years

BMW 320i
affin
2.54%
9 yeaars

EV get specials rate, if you are purchasing EV the bank that I recommend will be HL & Affin, Ambank use to offer lowest for EV but not anymore if short term like 2-5 years go for RHB variable rate. Cheers!

RHB variable talking about 4.6%...

With fixed rate/HP.... if we pay off early, still got discount as well

Variable rate will always be better off if you're the kind that always like to pay extra every month.
Plus the rebate from early settlement for flat rate after 4 years (over 7/9 years) into the loan won't be much.

This post has been edited by Icehart: Aug 21 2023, 06:10 PM

I'm taking 4 yrs for current loan...

BMW iX 40 Sport EV
Public Bank
loan amount RM363k
2.24%
3 years

for the 320i, any idea of the HP rate for 7 years from Affin ?

should be slightly lower 2.5x something

CRV
Loan 70k 7 years
Public Bank 2.51%

is this considered good??

MYVI AV

Loan RM55k
Affin Bank
Variable rates, 2.31%


is weird isnt it? or is that the BLR without adding the OPR? which would be 5.31% lol?

This post has been edited by notokay: Sep 4 2023, 01:20 PM

If not wrong should be SBR + VR
In your case would be 2.75% + 2.31% = 5.06%
Which is around 2.75% flat for 9 years or 2.7% flat for 7 years

Huh, im a bit confused. That 2.75% flat meaning?

What would be better if compared to fixed rate of around 3.5%? Fixed or variable?

https://loanstreet.com.my/calculator/flat-t...rest-calculator

Thanks been reading some materials on variable rate on internet too but still got confused sometimes. Anyway the only thing that matter is effective interet rate

The latest what my banker said is

Standardised Base Rate 3.00% + 2.31% (spread price) equivalent to fixed 2.89%

Now i understand that SBR is pegged to OPR, dont quite get how they add the spread price and convert it to equivalent fixed 2.89%

another point is that if you think that interest rates are gonna go up, it might be better to lock in the rates now but if you think rates are going come down, it's better to go variable

The spread is the profit rate that the bank gets paid for lending it to you.
There is always risk associated with lending to you vs parking their money at central bank and getting the OPR yield.

Also, while we're on this topic, please read up rule of 78.

Personally, I will prefer the variable loan rate if I have plan to make early settlement in the near future.

Hi, want to ask a suggestion
Getting H soon,wanna know which bank i should apply loan to get a lower fixed rate
Loan amount will be 70-75K

public bank

but best to get a few to compare

This post has been edited by cfa28: Sep 9 2023, 09:02 AM