i juz got my loan approved from OCBC at -2.45%...

but got 3 years lock in...no free legal...

but lock in not an issues for me...at least i stay for the next 10 years...dun wan shift house again...its scary....unless... i got money buy semi d / bungalow la....

How much the loan amount? Less than RM800k ?

my loan amount is RM8000K...


my loan range from RM500K - RM800K...

Less than RM800k used to be -2.4% 2 months ago.
Looks like bank has open their tab again.

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Added on July 23, 2012, 5:31 pmYes sir!!

This post has been edited by yehlai: Jul 23 2012, 05:34 PM

Yupe. Loan amt 600k n pre approved 25k reno loan

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Added on July 23, 2012, 9:33 pm600k loan wif 3 yrs lock in.

This post has been edited by dp82: Jul 23 2012, 09:33 PM

8000k.... must be an istana

Because the unit is below market unit?

OC had such reno loan since long time ago.

The approval of reno loan was based on their customer grading in 5 lvls.

Lvl 1 : up to 30% of S&P price
Lvl 2 : up to 20%
Lvl 3 : up to 10%
Lvl 4 & 5 : not eligible

Lvl 1 is not easy and very hard. Heard only assigned to self employed only.

My CCRIS was quite clean and facilities all '0' arrears. Only Lvl 3. But the rate is equivalent to P. Loan so, not taking it.

Is MRTA compulsory?

no

No idea y. Mayb my income no strong enuf gwa....

If you need to apply OCBC loan, you can apply from me.


We are agent who can collect document from your house.
0123092585

I also have OCBC housing loan. Every month i will pay extra RM200-300. But now i noticed that the extra I made all go to advance payment. I confirmed with OCBC cust service saying my instalment has been advanced till next year. meaning if I dont pay now till next tear also ok.

I thought whatever extra will go direct minus the outstanding principal??

Anyone can help?

Orang Cina Bukan Cina bank seem quite aggressive recently....

1. advance payment 2. principal repayment.

if u choose 1. , u no need to pay for next month instalment , if u pay 2x instalment amount on the month.

if u choose 2. , u still need to pay for the next few months , even u pay RM10,000 in the current month... the extra amount will use to offset ur interest payable ...

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Added on July 26, 2012, 4:58 pmpersonal loan so low interest rate ? i tot around 8-9% annually ?

This post has been edited by steventan85: Jul 26 2012, 04:58 PM

Agreed. Strongest

During computation of interest, your outstanding balance will be reduced according to the advance payment that you have deposited.

So interest is saved immediately

I jus took ocbc loan for my under con condo project. My agent told me I no need to pay anything during construction period . The interest during construction period will be amortized into the loan amount after 2yrs...

Anyone can confirmed about that ? Will call ocbc to confirm on Monday ...

i remember you have to specify whether your extra payment is for pre payment or reduce principal.

pre payment you can withdraw out if you need the money.

reduce principal harder to withdraw. you have to write letter and wait 1 week.

i also interested to find out more. i also confused. the loan agent did not explain well.

ocbc should give out booklet to us for reference.

i still prefer my scb mortgage1. one account, nice and simple. but m1 charge rm10 per month. ocbc no charge.

please help!! !

Hi Guys,

Thanks for the replies.

I did talked to OCBC and mentioned I was to specifically use the extra payment I make monthly to deduct principal. But the answer I get is it cannot be done because the system will automatically capture in the advance payment structure. Unless I pay large amount and call them to inform the large payment is for partial repayment.

That is why I'm confuse why should I pay more every month.

Please share