Above RM1.2 mil. u have to negotiate. of course 1st time, they will give u BS deal. negotiate for every banks. after u get 1 good deal, u can use that deal and nego further from other banks. that time be lanci a bit. say la "u dont want rm1.2 mil, nevermind, i find other banks. u r not the only bank, u know". then they will propose to their management. a few days later they will contact u back. say also how many properties u own and may buy more in the near future.

mind to share which bank give -2.4 without lock it?

My tiger bank gave me (Islamic-no lockin period) 1st year -2.5,2-3 year -2.45,
thereafter -2.4. LO signed 4weeks ago

u got offer from PXb, then tiger bank counter offer u? I did the same, 1st year -2.5,2-3 year -2.45, thereafter -2. i m going to sign from tiger tomorrow, but many taikors here advise there might be some hidden TnC for islamic bank... is that true? something like exit charges in stead of penalty? as there is no lock in...

Nothing fishy from the LO I've read.I've sign the loan doc with lawyer already last week and she explained everything to me already. The selling price its not much different from the conventional one, intetest calculation still daily rest like conventional.Flexi payment. Any hidden cost Im not sure, if not I kena con already..hahah. Read the black and white properly, if have doubt ask them.

advice from taikors, show the OL to other bankers, they know more than me....

Is there anyone can I check to clarify on this? I

I am happy if this is true. bank is making so much money and it is only fair that money should earn by bank on amount owing by us only. some bank charging monthly rm10 should also be stop like this penalty on lock in period.

This post has been edited by yankicip: Jun 26 2012, 12:21 AM

OCBC...

Isn't lock in period is better if you can get -2.4 or -2.5% offer?

better get -2.4 + no lock in

No lock in means the rate is prone to change.
Like from -2.4 to -2.3%
Since -2.4% is one of the best offer of all time, so it's better off to lock it?

I was told by tiger bank biggest competitor that tiger got few hidden things. i.e. Try asking your agent, what will happen on your rate if you failed to pay on time for 3 months?


This post has been edited by yusufhashim98: Jun 26 2012, 05:48 AM

Are you sure you get your terms right? AFAIK, No lock in means there is no penalty if you settle/refinance your loan early eg 3 years lock in means you cannot settle/refinance your loans within 3 years unless with a penalty incurred. The rate is always not fixed because BLR is always fluctuating based on our BNM decision.

If dun pay on time, they'll reduce to -2.0 and review the customer half year basis.

I prefer no lock in and dont K if they will review my int as I am always a good pay master.

Fuyooo.

My first loan from Tiger bank...only BLR - 0.7 and no lock in...but if got late payment for even one month...will automatic revise the interest to BLR + 2%.....what kind of robber is this....

i told them to revise my interest rate after 4 years....and they only can give me BLR -0.8% with 3 years lock in while all other banks are giving BLR -2.2% at least. So, i tell them you take back your revise offer and i will one day settle it or refinance it with other banks....they told me, if you go refinance it, you need to pay legal and stamp duty.... Guess, i really have to go HL or PB to do the refinacing......

First of all..its their competitor, so u can expect what they said . 2nd of all, if u plan to take mortgage just to default it, better dont take it at all. . I have 3 home loan from 3 different banks (1 conventional, 2 islamic). My conventional, if I miss 60 days arrears (2 MIA), the rate will be revise to BLR+2.1..

Plus, I tried to be as much as 'syariah compliant' as I can (although there is still imperfection in the system we have to admit). If real Islamic.."you only pay what you borrowed"...

Just a quick explanation here, Lock-in Period Penalty Abolished?, Effective 1st July will be only applicable to Islamic Loan only; likewise, conventional loan will be remained unchanged.

Answer to one of the forumer question: is there any catch for Islamic Loan. The answer is no. The only different is your stamp duty for the loan will have to pay more because of the Selling Price after the end of the loan tenure in Islamic loan agreement is higher.