Do we still entitle for 90% loan?

No because A already has 2 house loan

This post has been edited by lifebalance: Apr 3 2019, 12:48 PM

Hi, I would like to ask which bank accounts statement should I give?

The salary credited accounts or the accounts which have the most of my money? as I know bank would like to see if the salary is really credited to my accounts and also like to see how much is my existing emergency funds.

Most important for ALL the banks would be for them to be able to tally your salary net pay (as per in your payslips) with the bank statement. So you shoul give the account statement where the salary is credited into, and the amount has to be EXACT down to the cent.

Emergency funds and/or savings are just used for mitigation, in the case your DSR burst a little. For CIMB they may want to see that you have about 10% of the house price as cash, if you are buying subsale.

Thank you

You should have a salary account that your company credits into every month, this is to tally with your pay.

If you move it to another account thereafter, you will need to show the other bank account as well.

As for savings, it's used to mitigate if your DSR is on a borderline case.

hi all,
i would like to know, if bank already pay full reimbursement to seller/owner (subsale house).
when will start my 1st installment? is this any time/due date?
eg : bank full reimbursement on 25/3/2019 , is this means my 1st installment on 1/04?

hope u all understand my question.

The bank will notify you on when your installment will start via post mail. On the other hand you may call up your bank to check on the next due date

tq for reply

It depends on the bank, best to check the LO. Reson being, even for the same bank, there would be differences between islamic and conventional loans.

For example, if I got the bank name correctly:

1. for CIMB Islamic the installments start after the first disbursement, that is the disbursement to the vendor's bank to settle his balance

2. For CIMB conventional, the installments start only after the FULL disbursement, that is the disbursement to the owner in "cash"

I may have gotten the name of the bank wrong, but there definite differences between LOs even from the same banks, let alone different banks. Best to check the LO and call the bank's CS.

This post has been edited by wild_card_my: Apr 9 2019, 12:50 PM

tq for info, my loan is PUBLIC BANK ISLAMIC.
i will double check the LO. for this moment i already pay for interest only.
bank already paid seller loan outstanding balance

Hi all
Noobies here, My current housing loan is 4.6 under PBB which apply 2 year ago, is there anyway to reduce the interest rate?

only option will be perform refinancing. But you won't be able to save much as the average interest rate now is 4.5%

Refinancing is one of them. But refinancing:

1. reduces the rate to the level of the market rate only
2. has costs associated with it

So you may want to stay put with the current financing

Guys, how would you choose for a loan of 550K? Under construction condo

RHB Full Flexi
4.5%
Daily interest calculation (approximately how much can I save each day if I park my monthly salary in the account? Whenever I need to use money then only withdraw from it in order to save daily interest)
No maintenance fee, setup fee, withdrawal fee

HLB Semi Flexi
4.28% for the first 2 years, after that BR 4.13+0.37 = 4.5% (approximately how much can I save in the first 2 years?)
Daily interest calculation
Withdrawal fee of RM 25 each time
No maintenance fee, setup fee

This post has been edited by HotshotS: Apr 10 2019, 11:32 PM

is this subsale or underconstruction?

1. If it is the former, generally go for HLBB. reason being with subsale the total disbursement happens upfront in one go (2 disbursements, one for the settlement of the vendor's bank, and another disbursement as cash to the vendor). You would save so much, there are ways to calculate this which I will cover after finding out if this is subsale/refinance or underconstruction

2. if this is underconstructions... given that the rates are the same after 2 years at 4.5%, and the rate discount in the first 2 years for HLBB, it may be better to go fo rthi sbank anyway.

3. The formula to calculate daily-rest interest (and savings from this interest) is:

Interest incurred: daily-loan-balance x interest rate / 365

Interest saved: amount-of-capital-parked x interest rate / 365

since HLB does offer 2 years at a lower interest rate then you'll definitely save more than RHB.

It's under construction. So the rate discount in the first 2 years can save more than the flexibility to put extra money in to save daily interest whenever possible?

Eventhough I can park extra money temporarily every month?

The best way to save on a daily basis is to get a full-flexi loan, that is a loan that you are provided with a savings account linked to the loan account. This way you can even have your salary be deposited into the loan account and whatever amount that you have not withdrawn can be used to save the interest payable. There are a few loan packages like this, but I am not sure which one you got from RHB. RHB bankers are known to claim that their loan package is a "fee-less" full-flexi account, but from my understanding it is rather inaccurate.

The term full-flexi is not a protected term under Malaysian laws, so anyone and any organizations can use the term to describe their products however they want.

The HLBB is more akin to a semi-flexi.

CIMB has a full-flexi loan package, but you need to balance it with the interest rates; plus there are full-flexi fees associated with it

If it is temporarily (meaning you will put the money for a few days or weeks, before withdrawing them), you are better off with full-flexi, although there are cons associated to them as mentioned above. Going at this with semi-flexi would eat up your savings as there are withdrawal fees associated with that

Generally, those who need full-flexi are business owners that deal with cash, who would need to pay their creditors in about 3 months time from the stock received, so the time factor is used to save from interests. For salary earners, full flexi do not sound too interesting a lthough this is a matter of opinions.

This post has been edited by wild_card_my: Apr 11 2019, 12:14 AM