Guys , i would like to advise those looking for loans. Past few months i have submitted documents to few banks and had few experiences through out all this loan process and procedures. Almost 4 banks loan has been approved but i have rejected since their package not worth.

I were fully interested on FULL FLEXI before this, since i had intention to park money at current account to save loan interest. So each bank i have tried i was looking for FULL FLEXI and below was my feedback.

AMBANK - Beginning stage agreed for 80% and BLR-2.2, where BLR was 6.6. Then 1st reply said only can offer 70% with blr-2.1. Requested to push for blr-2.2. Next feedback was only 65% and blr-2.15 . So what i noticed here each time i ask to give better rate bank tried to reduce MARGIN OF FINANCE and made me to increase property value higher. So i have rejected.

MAYBANK - NO full flexi for business premise. Bank offered standard traditional loan, said can push for blr-2.2, subject to HQ approval. And if iM willing to park any cash in FD that would be easier for them to push. So i dropped.

CITIBANK - Full Flexi can push for blr-2.0 but loan tenure is just 20 years where monthly installment getting higher for loan amount. Not afford to pay, dropped.

ALLIANCE BANK - Fullflexi blr-2.0 can push more, only can offer 70% loan. In order to get better rate i must park about 50 or 60k in current account for 6 months. Later can take out money it seems. What i don't understand is, even without knowing whether loan success or not we have to park money in current account. If fail, still our money stuck in CA. So dropped.

HONGLEONG - Do have fullflexi link to current account. Blr-2.1 subject to approval. Loan approved but i reject since only can offer up to 20 years with lower amount of loan since their risk calculation on me is high. So dropped

PUBLIC BANK - Before try above banks, had tried PUBLICBANK once and they informed FULLFLEXI package has been closed. Then recently tried again and found out they offering FULLFLEXI if loan amount is above 500k with BLR-2.2. Seems good offer and applied then later on found out how their FULL FLEXI really works, where previous i had understanding of what ever cash you park in current account will be used to offset the principal loan amount and balance will be calculated for payment. BUT ACTUALLY NOT. I have attached below snapshot of clause.

To explain you short, PUBLIC BANK CURRENT ACCOUNT should have minimal amount which is 30k. That 30k will be excluded from computation. And only 50% of balance money in CURRENT ACC (after minus minimal amount 30k) will be used to offset loan principal amount.

Example, you have 100k parked in CA. Minus 30k of minimal amount, balance 70k. So only 50% of 70k means just 35k will be used to offset outstanding loan principal amount. So the rest of 65k in CA doing nothing....


LOOK AT 5.1 , 5.2, 5.3


NOW I already have doubt about FULL FLEXI at other bank, might be works in same way.
So i advise please check the clause or term how their FULL FLEXI works.

This post has been edited by GHOSTVIC: Oct 31 2014, 09:17 AM

so banks saying about FULL FLEXI so it does not really works in that way where full amount in CA will be offset to outstanding principal amount ?

then whats the purpose of having FULL FLEXI ? If FULLFLEXI have such terms and conditions what about SEMIFLEXI.

My friend even went to HSBC and question about FULLFLEXI whether is it really works like PUBLIC BANK.
According to him, HCBC mortgage officer showed some calculation and confirms their FULLFLEXI has no minimal balance and capping like PUBLIC BANK.

Im not sure how true it is.. we only knows when we start paying it..
Since my friend's case, loan at HSBC is FULLFLEXI property still under development and money is been releasing partially.
So its too early to jump on conclusion, only can able to verify after park some cash in current account and monitor how the interest get calculated.

Must check before and after pump in cash to current account.

Base on my understanding below is the difference of both TRADITIONAL and FULLFLEXI loan mechanism. Correct me if i missed or wrong about anything.


TRADITIONAL LOAN

LOAN PRINCIPAL - RM 500,000 ,
BLR 6.85% - 2.2% = 4.65% ,
LOAN TENURE - 25 YEARS... Lets say monthly instalment RM2821.90

[loan principal X 4.65% ] / 12 = INTEREST
[500,000 x 0.0465] / 12 = 1937.50
Monthly installment - Interest = Principal deducted
2821.90 - 1937.50 = 884.40

so each time your montly principal get deducted, your new outstanding principal will be used for following month calculation.
refer to below snapshot , 25 years tenure, loan amount 500k.......... INTEREST PAID RM346,571.10






FULL FLEXI LOAN

LOAN PRINCIPAL - RM 500,000 ,
BLR 6.85% - 2.2% = 4.65% ,
LOAN TENURE - 25 YEARS , you park one time prepayment 100k in same month at CURRENT ACCOUNT

Look at below SNAPSHOT how much get deducted from principal loan amount each month.
1st month is similar to above calculation, where 2821.90(installment) - 1937.50(interest) = 884.40 (principal)

RM 500,000 - 884.40 = RM 499,115.60 (new outstanding loan principal) , park 100k in CA, following month calculation will be...

[(499,115.60 - 100,000) X 0.0465] / 12 = INTEREST
RM 399,115.60 X 0.0465 / 12 = 1546.57
Monthly installment - Interest = Principal deducted
2821.90 - 1546.57 = 1275.327


If FULL FLEXI really works such way then, by just letting that 100k sit in CURRENT ACCOUNT you can save 7 years 9 months tenure, interest saved RM164260.76





If FULLFLEXI really works like this, then look at how much monthly interest can be saved compared to TRADITIONAL LOAN.
Obviously its better than parking that 100,000 in FD.

If FD maximum rate i discovered PUBLIC BANK offer 4.05% per annum. So you park 100k there.
( RM100,000 X 0.0405 ) = RM4050 / 12 months = RM 337.5
FD Monthly you earn 337.5 , FULLFLEXI makes you save more interest each month your outstanding of loan principal reduces.


SO THE QUESTION IS, FULL FLEXI REALLY WORKS LIKE WHAT WE THINK OR, IS THERE ANY HIDDEN MINIMAL BALANCE AND CAPPING ? like PUBLIC BANK

This post has been edited by GHOSTVIC: Nov 1 2014, 08:48 PM

Hi bro are u dealing with maybank subsales for business premises property.. like shop lot

what is margin of finance, max tenure and blr rate ?
any fullflexi loan for shoplot ?

CIMB ?

What is the BLR rate, max tenure , margin of finance for business premise property. Like shoplot.. ?
any full flexi loan ?

This post has been edited by GHOSTVIC: Nov 12 2014, 01:53 AM

hi bro, what bank are u dealing with ? are you a mortgage officer ?

Hi bro are you 100% sure, business property example shoplot MAYBANK offering fullflexi loan ? which maybank branch u located at ?

If i say you giving wrong information here, do u agree ?

This is what i say some mortgage officers don't really know well about the loan products and packages the bank offering. This really mislead customers like us.

Can you please check with your superior and let me know.

This post has been edited by GHOSTVIC: Nov 13 2014, 04:28 AM

This post has been edited by GHOSTVIC: Nov 13 2014, 04:28 AM

oh OCBC, i have approached them once for BUSINESS PREMISES LOAN.
BLR rate is very high.. just -1.0 so i dropped my plan to proceed further.

Yes bro i have approached ALLIANCE BANK.
Agent Said they have full flexi up to blr -2.2 and daily rest.
Then i have asked if any hidden capping or minimal balance.
The mortgage officer kept saying no such thing, i insist them disclose evidence to prove that theirs dont have capping and minimal balance for current account.
I even showed them PUBLIC BANK clause, to make them understand what am i really talking about.
The reason i did that, because 6 months ago i have approached ALLIANCE BANK mortage officer from different branch where i received different input.
After 6 months now i am approaching KL MAIN ALLIANCE BANK BRANCH, again different feedback.
Seriously i dont understand how could that be 2 different version of stories from same bank mortage officers but different branch.

So i am still waiting for them to process the application and come out with answer.

This post has been edited by GHOSTVIC: Nov 15 2014, 02:32 PM

still available ? up and running ? i dont get what u mean bro..

which branch u located at bro ? I have approached till KL MAIN BRANCH MANAGER and they said for business premises they just have term loan no fullflexi.. if its so how can u be very sure that they have fullflexi..

i have doubt here.

This post has been edited by GHOSTVIC: Nov 19 2014, 09:34 PM

HI Guys,

Here is TERMS & CONDITION ftrom ALLIANCE BANK for fullflexi account. They call it SAVELINK TERM LOAN ACCOUNT linked to SAVELINK CURRENT ACCOUNT

however when i checked at their online website for the package it says TERM LOAN + OVERDRAFT... does it serves same purpose like fullflexi ?

According to snapshot sent by mortage officer looks like no hidden charge, capping or minimal balance. But i still do not understand why that person never take snapshot of single photo from clause 4 to 5, instead of sending part by part. Something smell fishy...

Do you guys understand what that terms talking about, do you feel the same way i felt ?




This post has been edited by GHOSTVIC: Nov 25 2014, 07:16 PM

Are you a mortgage officer from alliance bank ? Do you have any experience on business premises financing ?
The agent i have consulted seems like lack of experience and the feedback the person giving was not promising at all, as if he not interested explaining my query. Not really understand my concern, first did DSR calculation based or refinancing method where i clearly said i am doing subsales. Then asked to calculate for subsales, later said i am eligible. When i enquire about full flexi terms and condition she sent below snap shot. But still not convinced not sure business premises really have such package or not.

HE could have sent me "HOUSE LOAN" terms and condition , because previously wrongly said can give BLR-2.4. Then i enquired again later saying BLR-2.2... So he himself was not very sure about the product and the rates they offering... I requested for one to one session no feedback though.. FRUSTRATING.



Here is TERMS & CONDITION ftrom ALLIANCE BANK for fullflexi account. They call it SAVELINK TERM LOAN ACCOUNT linked to SAVELINK CURRENT ACCOUNT

however when i checked at their online website for the package it says TERM LOAN + OVERDRAFT... does it serves same purpose like fullflexi ?

According to snapshot sent by mortage officer looks like no hidden charge, capping or minimal balance. But i still do not understand why that person never take snapshot of single photo from clause 4 to 5, instead of sending part by part. Something smell fishy...

Do you guys understand what that terms talking about, do you feel the same way i felt ?

Hello bro, do you have any experience on business premises financing ? I am really fed up with lack of experience mortgage officers. You can read my previous posting on my experiences. I have approached

HSBC, MAYBANK, PUBLIC BANK, AMBANK, HONGLEONG, CITIBANK, STANDARD CHARTED, ALLIANCE BANK & CIMB

Hi Bro, i am seeking loan for shophouse property under individual title . Not for business loan.
Seems you giving free consultation and applying loan behalf borrowers, do we required to pay you ?
If you say taking commission from bank after loan disbursement, is that amount will be charged in our loan ?

if loan 500k, lets say your commission 2% means around 10k bank pays you and does that amount get deducted from our loan ?
or is it merely works like typical bank mortgage officers who get commission based on number of loan application they make success ?

This post has been edited by GHOSTVIC: Nov 28 2014, 03:49 AM

Alright bro, would you be able to understand their product and offers ? Because some mortgage officers does not really know about the package. For Shophouse loan they referring to houseloan package and giving wrong info. I have no idea whether they trying to push loan just for the sake of commissions without letting customers know about the product. They promise different stuff but we sign for something else.

Like in my case, when i ask more they reluctant to explain in detail. I am wondering how many of them really check terms and conditions before agree, all we need is LOAN. Even i did that mistake 6 years ago.

Well i need to meet you and explain in detail the scenario of my case and the concern.
I have applied hong leong about 3 or 4 months back, i believe the agent did DSR calculation on refinancing method and offered me lower loan with short tenure 20 years.
I thought he understood my point, where i am looking for subsales and DSR should be calculated based on long tenure.
Eventually the outcome was not favouring me.

It can be called either double story shop house / shop lot...
I am 34
he must be wrongly understood my concern.


http://loanstreet.com.my/learning-centre/1...nancing-cashout

http://loanstreet.com.my/learning-centre/1...nancing-cashout

This post has been edited by GHOSTVIC: Nov 29 2014, 01:13 AM

Alright i will let u know.. i am still in touch with alliance bank mortgage officer. Tht officer just like not interested on my loan process no follow up calls no proper feedback lack of knowledge lack of.. each time i am the one need to remind for further updates.. isn't tht they supposed to b getn rdy before we approaching them.. really sick i tell u... so called from kl main branch what service seriously sick.. i think i need to writw a complain and just approach somebody else to make him feel guilty on his behaviour and approach.

This post has been edited by GHOSTVIC: Dec 13 2014, 06:59 PM