i just want to borrow OCBC renovation loan, but i dont want use the money to do renovation, i want to use the money to buy another property.

May i know, how to get the loan with personal use?

as the banker said, OCBC renovation loan only for renovation use, the bank will direct transfer money to contractor...

Any other way can take the money instead transfer to contractor? because i want use those money to buy another property...

Please help me up....

You got family member work as contractor? Maybe can work?

OCBC R&R loan only can release to contractor which u must submit the quotation and invoice upon full home loan release. Unless, upon home loan application, u apply the Reno loan and request to release for personal contingency. Otherwise, OCBC Reno loan is not easy to claim but real troublesome.

I think Alliance Home Complete suits you. No need wait full home loan release, no need submit contractor quotation or invoice, directly money release to ur savings or current account upon loan execution....

but i do not have housing loan on Alliance bank...

how?

Boss, Alliance bank complete give up to how many %?

If u only have 2 prop or less, then refinance to Alliance Bank loh. Lol.

I thought u buying prop.

---

Added on December 9, 2012, 10:23 pmResidential : BLR + 1%
Commercial : BLR + 1.5%

Max tenure 10 years.


This post has been edited by Chris Chew: Dec 9 2012, 10:23 PM

Thanks for the input, what about % against property value.
Eg OCBC R&R loan-8months salary or up to 30% of property value.
Thanks

refinance need lose 5k ...

i dont want...

any other method?

for personal purpose, apply personal loan...

EPF

U sound really desperate, must b super good buy !

I tot ocbc Reno loan & personal contingency loan come together?

This post has been edited by froglai88: Dec 12 2012, 06:32 PM

Personal loan high interest and can not go for more than 10 years.

So not use to me...

If renovation loan blr+1.6 might as well g for personal loan flat 7.5% fr ocbc..can loan up to 150k..max 5 yers repayment

Which reno loan is BLR + 1.60%????

Hmm, got pro and con abt Reno Loan againts Personal Loan. But OCBC got 7.5% so low? Wow. Is this the lowest in the market or?

Wrongly quoted..blr+1..if u take pl for short term..not much diff from renovation loan which is more tedious in application..yup..i believe ocbc offers the lowest..dont compare with bank islam or bank rakyat which offer 3-4% but ony for govt servant..

This post has been edited by dRwh0: Dec 13 2012, 05:04 PM

Must ask the ocbc banker? Why they never never me last time

For your reference

http://www.ocbc.com.my/OCBCAL_Amin/pb_fina...tij_i#Prestij-I

why not get credit card loan? loan out ur credit limit..i think is lower than PL

Isnt it same as cash advance..normal card interest rate..even citibank dial for cash int rate 9.5..

YOU ALL NOT GET WHAT I MEAN.....

I MEAN IS I WANT TAKE A LOAN WITH LOW INTEREST AND LONG PERIOD REPAYMENT THE LOAN.

[SIZE=14]WHY STILL GOT SO MANY FUNNY ANSWER LIKE CREDIT CARD, PERSONAL LOAN. THIS IS ONLY NOT MORE THAN 5 YEAR REPAYMENT, THIS IS NOT THE PACKAGE I WANT. ARE YOU AWARE IT?

Boss, cool down. They just give you suggestion only.

Haha..u look desperate..we give option..dont have to shout..😜..btw even with low interest but u stretch it to 30 yers..doesnt make any diff with pl/cc with short term tenure..or the other option is..dont buy the other prop if u cant afford it..

This post has been edited by dRwh0: Dec 14 2012, 03:04 PM

i can afford... because i got catch LTV 70%, that's why i need borrow at least 20% downpayment...

now the problem is, i want loan as lower interest rate, better not more than 6.6% and payment term at least 10 years...

+1

at first i saw the title n thought *hey ocbc loan.. something im working with 3yrs plus.. let me help this poor guy...

but then... ego + arogance

wish u luck...

p:s... friendly lyn members always trying to help, even sometime we misunderstood or giving advise from diff point of view, pls understand there is no obligation for us to help.. unless ur a damn hot chick or simply.. ask nicely