Can someone pls share the current Interest Rate for the below banks. I updated whichever I know. Correct me if I am wrong.

RHB - 4.5%
CIMB
Maybank
PBB 4.47%
HLB
Ambank

Please also state if the rates are applicable with MRTA or without.

Thanks.

You may refer to my post https://forum.lowyat.net/topic/2759418/+3560#

For the rates, more or less those you've mentioned stands at 4.5%

RHB - 4.5%
CIMB - 4.6%
Maybank - 4.5%
PBB - 4.47%
HLB - 4.51%
Ambank - 4.7%

Usually these rates are with MRTA. Hardly can get better rate without MRTA cause bank try to maximize profit by cross selling MRTA.

just got approval for my loan from CIMBI..interest 4.55%
good rate?
should I go all-out send the application to all bank?

Seems like a good rate for now, any lower is a difference of 0.05%

Rate is quite good from CIMB, perhaps you may appeal for lower rate. Any MRTA attach with this application?

Hey Sifus,

Just wanna ask. If I were to apply housing (Islamic) loan for property price RM306k (90% loan = RM275k) what is the rate I should expect (package with MRTA/ MRTT)? And how much will it cost for MRTA/MRTT?

My Credit Scoring is 7. No any other loan, only possess credit card from CIMB, MBB and HSBC (Paid on time).

Planned to send application to MBB, PIB, CIMBI, HLIB and BIMB (Or any other bank you can suggest that have a best rate?)

It is my first house, so the Stamp Duty exclusion will be ONLY SnP or SnP AND Loan Agreement?

Thank you in advance for your advice.

This post has been edited by deckhand: Feb 22 2018, 12:54 PM

MRTA charges differs from bank to bank, best to get quote upon loan approved.

Stamp duty discount is on SPA and Loan Agreement.

Rates will be around 4.5% onwards depend on your CCRIS, CTOS and overall profile.

MRTA/MRTT may varies from bank to bank's quotation as they are collaborate with different insurance companies.

PBB, MBB, HLB and RHB been giving good interest rates (4.5% - 4.6%). You may try these banks to get desired package.

As for waiver, you'll enjoy RM 5,000 waiver on SNP stamp duty whilst RM 1,500 waiver on loan stamp duty.

If purchase price below RM 300k, you'll enjoy 100% waiver.

any loan specialist here,

if I'm a sole prop owner, paying salary to myself constantly every month with EPF and socso deduction.

can the salary used to calculate DSR? Which bank is acceptable in this case?

Thank you very much

Yes, if you do contribute to EPF, you can apply for loan.

You may provide me the info below for me to assess your loan.

Age
Gross Pay
Nett pay
Rental Income
Bonus 2015 2016 2017

Commitment
House
Car
Credit Card outstanding
Personal Loan
PTPTN

What type of business you're running and how long is it established ?

May I know which bank is acceptable in this case? If my sole prop only established for 6 months?

Sorry, in this case only more than 2 years establishment will be accepted.

Thanks. For the 2 years min requirement, may I know which bank you are referring to?

All banks

I think this is a little too general, and a little confusion here.

If were to derive my income from the salary paying to myself, which is supposed to be employment income. and so in this case I have to be employed for more than 2 years only eligible to take loan?

The reason is simple, it's your own business, a new start up is not stable. You could be jacking up your figures for this first 6 months. What if down the road your business close down ? There is no track record of how well is your business at all to review.

In that case I should consider registering the sole prop with my wife's name and paying me salary for 6 months to a year then I am eligible for loan cause bank doesn't care whether how long my employer has been established. This is the credit system for all banks in Msia?

no issue on that, just don't get caught if the bank decides to check more thoroughly

For self employed, bank will use 6 months company bank statement and income tax to derive. Not to mention, bank will require at least 2 years company establishment.

Sole prop could write any amount in pay slip hence bank will need company bank statement to justify business income. Come to ground, if you're sole prop and also receiving salary with EPF contribution from other company, some banks do accept dual income.

If you wish to know more about your loan eligibility, do share us your monthly commitment and company turnover & income declaration.