what is rental rate now for your property?

Hi,
OCBC offered me -2.35 bfr. 90%. Islamic loan. No lock in. Cannot get 2.4 anymore Sent application mid of Jan 13. Does anyone get better deal from any other bank?

couple of things about islamic loan you need to take note:

1. capping of interest rate. in malaysia history, once interest went up to as high as 12%. in islamic loan, your interest is cap at 10%. however realistically, it is very rare for interest rate would go to historically high. even if it does, paying 10% and paying 12% doesnt make much difference. see it this way. if you have good financial support, 2% is not much especially such high interest is not expected to stay there for too long. and if you have poor financial support, you are screwed anyway. if one has concern over fluctuation on interest rate (for those who are buying a "home", not a property), he should take fixed rate. capping at 10% is a nice protection to have, but whether how much of practical value does it bring, it's up to individual's perspective.

2. no lock in. lock in period and penalty for early exist is something simply not being practiced in islamic loan. but think of it this way, most lock in period is about 3 years and coincidentally construction period is also 3 years. by the time you got key for your property, locked in period is also over. practically the the lock in period has no significant effect on under-construction property, unless the owner is planning to flip the property before it is completed, which i find is a silly move in most cases.

i did a calculation a while back for this project, 400k property taking a 30 years loan, 90% MoF, BLR -2.4%, the difference between [conventional, semi flexi, flexi] loan with [islamic] loan, it's additional RM10/month for islamic loan. in other words, by signing up an islamic loan, you will be paying additional RM10/month for the above additional "features" in your home loan. whether worth it or not, it's entirely up to you to decide 

may i ask?
why u guys not consider bangi avenue? cheaper and got land

hi goodman taikor, why say so?