Aug 14 2012, 09:22 AM
QUOTE(re_freako @ Aug 14 2012, 02:09 AM)
HLB is lousy. I had my 1st prop from HLB 5 years back, lucky I finally get rid of them now. The lump sum payment can be done. {Yes}
However the way they ask me to pay n process it makes me cry. My prop is join name with my bro. Every time want to give them RM30k to RM50k for principal reduction need to fill up forms. Need me to sign and also need my bro to sign to fill up that bloody form.
Secondly, that stupid bank require 14 days or more to process. then only they give u a call tell you to pay. The total of 14 days you need to put your money into your loan account or saving account both will be the same. No principal deduction yet so interest still count on you. Even money on their hand. Imagine RM 50k to 60k by giving you 0 interest if you put in loan account. That's crazy. If saving account u get saving account interest for 14 days. The principal reduction only appear on next month statement.
The system they have is sucks too. U can check your loan n get more details on the bank branch u get loan. Other branch say not too sure. Want to pay full also they delay. To me this bank system like oldies system. 100% sucks.
The only best part I get from HLB is 1 percent flat on my 1st year. Subsequent forgotten blr minus something.
Obviously the money you put in they don't allow to take out, some banker say can take out, some say cannot. However the process is very tedious, until I rather find other option to get money than take out the money I gave them. I did my full settlement already 3 months passed. But the idiot bank still on the process finalizing my stuff to give me back all my housing documents.
I do not really know why my father like to put his money into HLB. Just may be their style is neighborhood style which match my father generation.
I'm not a banker and also not their competitor, take my piece of advice research carefully before deal with HLB.
Now taking second house loan from OCBC, as explained by them they will not give me so much trouble on paying lump sum to reduce principal. However just sign, hope OCBC can perform better in terms of service.
Added on August 14, 2012, 2:15 am
For HLB they initially let me pay advance interest only. When I see my statement, I called them. then they request a letter of acknowledgment from me, then the next month they start to carry out principal reduction. Lucky enough my 1st year of repayment interest only cost me 1%. Good experience and lesson learned.
What type of loan you had with HLB?However the way they ask me to pay n process it makes me cry. My prop is join name with my bro. Every time want to give them RM30k to RM50k for principal reduction need to fill up forms. Need me to sign and also need my bro to sign to fill up that bloody form.
Secondly, that stupid bank require 14 days or more to process. then only they give u a call tell you to pay. The total of 14 days you need to put your money into your loan account or saving account both will be the same. No principal deduction yet so interest still count on you. Even money on their hand. Imagine RM 50k to 60k by giving you 0 interest if you put in loan account. That's crazy. If saving account u get saving account interest for 14 days. The principal reduction only appear on next month statement.
The system they have is sucks too. U can check your loan n get more details on the bank branch u get loan. Other branch say not too sure. Want to pay full also they delay. To me this bank system like oldies system. 100% sucks.
The only best part I get from HLB is 1 percent flat on my 1st year. Subsequent forgotten blr minus something.
Obviously the money you put in they don't allow to take out, some banker say can take out, some say cannot. However the process is very tedious, until I rather find other option to get money than take out the money I gave them. I did my full settlement already 3 months passed. But the idiot bank still on the process finalizing my stuff to give me back all my housing documents.
I do not really know why my father like to put his money into HLB. Just may be their style is neighborhood style which match my father generation.
I'm not a banker and also not their competitor, take my piece of advice research carefully before deal with HLB.
Now taking second house loan from OCBC, as explained by them they will not give me so much trouble on paying lump sum to reduce principal. However just sign, hope OCBC can perform better in terms of service.
Added on August 14, 2012, 2:15 am
For HLB they initially let me pay advance interest only. When I see my statement, I called them. then they request a letter of acknowledgment from me, then the next month they start to carry out principal reduction. Lucky enough my 1st year of repayment interest only cost me 1%. Good experience and lesson learned.
Normally, for full flexi/semi flexi, borrower can pay additional amount anytime to knock off principle to save interest, but it also depends on different banks terms and conditions.
QUOTE
Fully Flexi
1. Borrower can pay additional amount anytime to knock off principle to save interest.
2. Borrower can issue cheque to use the money in the loan - the money (principle) that the borrower has already paid. Interest will be charged based on the amount taken out.
3. Need to pay certain amount of money per month as there is a current account linked to the loan account.
4. Good for people who need high liquidity of cash very often
Semi Flexi
1. Borrower can pay additional amount anytime to knock off principle to save interest
2. Borrower can only take out money with written notice to the bank (approximately 5 working days (depends on different banks) of processing. Interest will be charged based on the amount taken out. Each withdrawal will cost a certain amount of money (depends on banks)
3. Don’t need to pay the fees every month, as no cheque book or current account is involved.
1. Borrower can pay additional amount anytime to knock off principle to save interest.
2. Borrower can issue cheque to use the money in the loan - the money (principle) that the borrower has already paid. Interest will be charged based on the amount taken out.
3. Need to pay certain amount of money per month as there is a current account linked to the loan account.
4. Good for people who need high liquidity of cash very often
Semi Flexi
1. Borrower can pay additional amount anytime to knock off principle to save interest
2. Borrower can only take out money with written notice to the bank (approximately 5 working days (depends on different banks) of processing. Interest will be charged based on the amount taken out. Each withdrawal will cost a certain amount of money (depends on banks)
3. Don’t need to pay the fees every month, as no cheque book or current account is involved.
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