I hereby pin this topic for those searching for loans.
You may post here and let the agents contact you.


Warning to loan agents!
This is not your personal sales thread!

This thread is not for advertising personal loan and banking services. Please do not spam.

Do not taint this topic with "You got pm" etc replies. Either you post the details out or you PM (which meant PERSONAL MESSAGE where no one needs to know you've PM any others)



Those that violates this rules would get suspension!

p/s: a continuation from the topic here: https://forum.lowyat.net/topic/701749
https://forum.lowyat.net/topic/1702463
So don't spoil it.

Hi banker, please let me know if any other bank beside Ambank that still accept bank loan for Park 51 residency condo, block C, new launch developer unit. I am interested to purchase a unit there from developer, but heard other bank quota is full.

Thank you.

Hi all,

I want to apply for OCBC's Titanium Credit Card.

Any OCBC banker here who also does credit card sales, kindly PM me.

Kindly note that you'll need to come pick up the documents from me, either in Subang Parade or PJ Old Town.

Thanks.

hello all, question here, what is the rate if i need a 30% MOF for buying industrial land??

Hi bankers,

I'm looking for a housing loan for a sub sale freehold property costing 450k / 30 years loan. This will be the first time I'm buying a house.

My net income after deductions(EPF, Socso, tax) is around 4.8k. This is not inclusive of my sales commission which is variable each month.

Please pm me for more details or send me an offer. Thanks.

I need OCBC banker advise.

1) if i have a loan of RM1.7mil with OCBC. if i early settle RM1mil into loan account, i still need to pay installment? or need to write in to waive installment?

2) since loan facility always on reducing basis, how can i know what is the max redraw-able limit i have?

3) if i would like to redraw, am i need to have a current account or saving account for OCBC to bank in money?

4) whenever i have extra money, can i just direct bank into loan account and how OCBC treat this money?ie i suka suka bank in RM10k via cash deposit machine..
OCBC direct reduce principal or treat as advance payment?

Hey guys, I am back. I am sorry to everyone for the lack of responses over the past many weeks. I was out of commission and now am back in business. ASK AWAY.

Hello Iceman

1. For this property, at 90% loan, your loan amount would be RM405k

2. On top of that, you can get UP TO 4% of your legal, valuation, and stamp duty fees included into the loan.

3. Sales commission, if properly documented (commission slips AND reflected in the bank statement), 80% is recognized by OCBC as NETT INCOME

Hello Christopher,

1. It depends on your facility agreement stated in the offer letter and to a larger extent, your loan facility agreement. But a typical account will require that you pay the scheduled installment rate; following your situation, from the date of RM1 million CAPITAL REPAYMENT, for each of your installment the percentage that goes to pay the OUTSTANDING BALANCE is higher than the percentage that goes to pay the INTEREST.

Your loan tenure is automatically shorten this way too.

2. Max redrawable is the amount that you have put in. Minimum per withdrawal is RM1000 and with incriment of RM1000. So let's say you have deposited RM26000, you cannot take out RM23,500, you can take out RM23,000 or RM24,000

3. Yes, unfortunately they have changed the rules. You need to have OCBC's savings or current account. On the up side, you will get your money quicker this way. There is a special condition that they will issue a cheque if you can prove that you cannot open an OCBC account - if you are overseas, etc.

4. If you deposit the money into your account through Cash Deposit Machine, the money will be considered as ADVANCED PAYMENT. This way you do not need to pay your monthly installments for the months that can be covered by your ADVANCED PAYMENT. This is good for those who are working for an extended period overseas or on the oil rigs. For the money to be deposited as CAPITAL REPAYMENT, you need to do it through the counter or by using a cheque and write in the back FOR CAPITAL REPAYMENT ONLY

Edit: For ADVANCED PAYMENT, it does reduce the capital, so there is less chargeable interest out of every installment. This way you do not have to pay monthly installment as long as your advanced payment can cover for your installments. At the same time, your capital is reduced according to the amount you have paid in advance. The only caveat is that the money for advanced payment cannot be reduced.

Additionally, OCBC's flexi account has no RM10 charge a month, so you would save a RM4800 over the course of 40 years.

I hope I have answered your questions.

This post has been edited by wild_card_my: Apr 11 2013, 01:38 PM

Hi,

I have a ready buyer for my freehold studio apartment. Size 388 sq ft. Agreed price at 135K. Bank valuation is only around 80K to 90K. Kindly PM me for details.

Tq

He is only interested in Islamic loan.

Thanks wild card, very detail..

come back to no 1, if my loan is RM1.5mil, i made RM 1mil capital repayment. if i would like to enjoy the "flexibility" for not paying monthly installment, can i request not to pay monthly installment as long as the RM1mil can cover?
you know, like full flexi loan with current account, customer can enjoy leaving RM1mil in current account and he can even not visit the bank for 2-3 years. no need bother to make monthly installment.

no 2, any source for me to check how much max i can withdraw? ie internet banking, go over to counter to check.

no 3, the only way to do redrawal is walk in to branch to fill in forms? will OCBC staff request to do standard verification/ scan IC, thumb print?
i need to walk in to home branch or any branch also can do redrawal? can i fax the redrawal form to customer service department so i don't need to travel to OCBC branch?

lastly if my loan is RM1.5mil, can i do capital repayment of RM1.5mil, but still continue the facility? ie i might want to redraw few years later when i need money.

Thanks.


This post has been edited by christopheryam: Apr 11 2013, 01:23 AM

Hello,

1. If you want to choose not to pay any monthly installment, you would need to state the payment as ADVANCE PAYMENT. By doing so, the payment [s]will not help reduce the interest payment made into the account,[s] will reduce the capital and you do not need to pay your upcoming monthly installments. However, the money that you put in as advanced payment cannot be redrawn. In short, the RM1mil you have deposited into the account can only be either:

a) CAPITAL REPAYMENT
b) ADVANCE PAYMENT

And not both at the same time. Of course, you can choose to split the money.

2. Normally I would say to go to the counter to check, as for the internet banking, I am not too sure. But I will get back to you on this.

3. Yeah, they would need to verify you for security purposes.

4. Once the loan account has reached 0 balance (no more outstanding amount), the account will be closed. So my advice would be to deposit not RM1.5 mil into the account, but to short it by paying perhaps RM1.4million and making sure that your monthly installments in the months that follow would not result to the closure of the account through completed payments - you can do this by withdrawing some of your deposits before that happens and the outstanding balance would jump back up.

This post has been edited by wild_card_my: Apr 11 2013, 01:40 PM

3) what type of verification to be done? are you mean that for each redrawal i will need to go to the branch and talk face to face to the staff that i want to redraw, then the staff will let me fill and sign the redrawal form?

or OCBC will call up to verify?

anyway to make the redrawal fast and easier? is personal banker/ priority banker able to make it less hassle to visit the branch?

This post has been edited by christopheryam: Apr 11 2013, 08:58 AM

2. You can use internet banking and phone banking to know how much WITHDRAWABLE CAPITAL you have

3. Verification in the sense of IC and thumbprint, the usual stuff. And yeah, one filled-up form for each withdrawal, meet the teller and hand it to him/her. They will verify you and you are good to go.

As for the personal banker or priority banker, I am not too sure. Perhaps you can arrange something with the priority banker.

thanks bro..

recently a lot of OCBC al-amin branch set up. can i walk in to OCBC-al-amin for my conventional loan purpose?

Oh yes, OCBC Al-Amin is expanding rapidly.

And yea, as a OCBC conventional customer, you can walk into any OCBC Al-Amin branches to perform this withdrawal request.

edit: And to OCBC Al-Amin account holders, you can walk into any OCBC conventional branches to do the same!

This post has been edited by wild_card_my: Apr 11 2013, 09:28 AM

As far as I know, advance payment on OCBC loan will also help to reduce the interest. I thought its one of the different of OCBC loan compare with other bank, since OCBC loan is not a semi flexi or full flexi (although it called itself semi flexi loan) since it has both criteria.

That may have been a different product. But as far as I know, the advanced payment does not help reduce the interest charges for your installment.

Edit: I am mistaken. After rechecking it turns out that the advanced payment DOES reduce the capital and thus reduce the chargeable interest. The only difference at this point is that the advanced payment is not redrawable while the capital repayment is redrawable

This post has been edited by wild_card_my: Apr 11 2013, 01:34 PM

Its actually a discussion with other forumer too.
Proceed here and have some though. Btw, I'm just a borrower waiting for my loan with ocbc to be approved.
More info is better.

http://forum.lowyat.net/topic/2255456/all

Which post does it start at? That is quite a long thread I do not know which post they started to talk about advanced payment etc.

Its just 1 page thread.
If you still need to skip, maybe you can start at the middle of the thread aka after 10 post.