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Mortgage Loan Package Inquiries v2, Loan agents pls read the 1st post!
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HotshotS
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 Apr 10 2019, 08:28 PM
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Getting Started
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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
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HotshotS
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Apr 10 2019, 11:36 PM
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Getting Started
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QUOTE(wild_card_my @ Apr 10 2019, 10:51 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 / 365Interest saved: amount-of-capital-parked x interest rate / 365It'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? |
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HotshotS
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Apr 10 2019, 11:37 PM
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Getting Started
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QUOTE(lifebalance @ Apr 10 2019, 11:12 PM) since HLB does offer 2 years at a lower interest rate then you'll definitely save more than RHB. Eventhough I can park extra money temporarily every month? |
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