Good choice!!

hi, can i know the loan that they offer is rhb my1 flexi home loan or rhb my1 full flexi home loan?

Full flexi can find in RHB website?

I also have housing loan with RHB, something about multiplies of RM1k for prepayment.
I have asked the counter about how to reduce my principle. They told me I can deposit the money into cash deposit machine by choosing partial payment option (actually not quite understand and I doubt on what they said)..then if I want to withdraw the money out later, I need to go counter and fill up a form to request it...hmmm, so troublesome...sound so dangerous that like I will not able to withdraw it out if I made some mistake on the procedure...haha

Hi Sifus, I find this part of the RHB full-flexi home loan confusing. What does it mean? It sounds very important, like something that I shouldn't ignore.

Anyone can help explain the below?

8) In the event the difference between OPR (Overnight Policy Rate) and BLR (Base Lending Rate) reduces to below 3.5% during the loan tenure, the Bank reserves the right to increase the prevailing interest rate spread to maintain the margin between OPR and BLR at 3.5%. However, should the difference between OPR and BLR increases back to 3.5% and above, the prevailing interest rate will take effect.

The current BLR is 6.85%, and RHB is offering me -2.4%. So the loan interest is 4.45%.
But what is OPR??

I don't see this in the CIMB full-flexi loan at all.

Appreciate your guidance. Thank you!

Link on what is OPR http://en.wikipedia.org/wiki/Overnight_policy_rate

Current OPR is 3.25%

Current BLR = 6.85%

Spread = 3.60%

Say if OPR goes up to 4.0% but other Banks do not increase the BLR, so the spread is now reduced to 2.85%

So, your rate WILL NOT be BLR of 6.85% less 2.40%, but rather OPR of 4.0% + 3.50% less 2.40%

Bro, I believe there is a typo error - it should be 4.0% + 3.60% less 2.40%

This post has been edited by Jasoncat: Nov 24 2014, 07:10 PM

WOW...it sounds risky to accept this term set by RHB then!
Historically, has the OPR-BLR difference ever gone below 3.5%? If it is very likely that this is going to happen, then this term is not going to work to my benefit.

I'm really attracted to RHB's offer because unlike CIMB, it has no setup fee and no monthly fee. That's a lot of money saved!

I've done a comparison between RHB and CIMB.
Based on the points below, which one would you recommend?

Pros & Cons of RHB Full-Flexi Home Loan

- No setup fee (CIMB requires RM200)
- No monthly fee (CIMB requires RM10 monthly)
- Current Account & Loan Account are separated (CIMB combines both into one simple account)
- Standing Instruction is needed to transfer monthly installments from Current Account to Loan Account
- To make prepayment, funds need to be transferred to Loan Account directly, can be done at the counter only (CIMB can pay via online banking)
- No need to notify bank on prepayment and withdrawal (same as CIMB)
- No charge for making prepayment, but it has to be in multiples of RM1000 (CIMB any amount is ok, which is better because even if I pumped in RM900, it would reduce my principal and interest too)
- No charge for making withdrawal, can be done via online banking/cheque/counter (same as CIMB)
- Has a potentially risky term of OPR-BLR difference thingy
- There's also another risky term that says: "You are to execute a statutory declaration that the property purchased/constructed/refinanced is for own occupation." (What if I want to rent it out? Risky term as well!)

Hope your knowledge & experience can help me and others out there make a good decision.

[CODE]

Yes typo, should be + 3.60%

hi.....how's your decision?
same as you currently have cimb flexi loan and now RHB offer to me better rate and just like what you have.......

Hi all. I'm looking for a topup loan to my apartment. I'm using Hong Leong Islamic Loan. Anybody can help me out do PM me yeah. Thanks a lot!

https://www.imoney.my/articles/enjoy-greate...e-loan-from-RHB

customers can redraw from their loan via over-the-counter, internet banking and ATM. Redraw is allowed on any excess payments made and funds are available immediately for withdrawal. Customers will now have more flexibility and convenience as they can manage their loan accounts on the go, which enables them to save time and reduce hassle.

Just took up RHB full flexi loan.

The downside of this loan, i would say the pre payment to reduce the principal can only be done in multiple of 1k and have to bank in directly to loan account, which is quite troublesome.
other than that all is good and the rate offer is the best

Hi, I'm on the same boat currently, but when I checked with my loan officer, withdrawal from Loan Account can only be done via ATM or RHB Counter; whereby withdrawal from Current Account can use any methods (inclusive Internet Banking; however, will not offset principal until it is paid into Loan Account).

Anyone can confirm if the Redraw from Loan Account can be done via Internet Banking? As this will be one of the deciding factor for me as well

If got deal better act fast. RHB going to merge with CIMB.

I just sign 1 LO, 5 years Lock in without MRTA.

This post has been edited by xlancer: Dec 29 2014, 07:53 PM

Did they explain about the withdrawal of excess payments from loan account? Can it be done via Online banking? Or must do it via ATM / Counter?

Not sure if the merger will have impact on the pending offers or not

Both ways also can?? Meaning:

Current Account ---- pay to -----> Loan Account (excess payment)
Loan Account ---- withdrawal to ----> Current Account (redraw excess payment)
my loan officer giving me wrong info ni

I been told it can do online, no charges!

anyone can confirm the withdrawal from loan account can be done with online? Is it immediately?

anyone can confirm the withdrawal from loan account can be done with online? Is it immediately?

Also, according to my banker, the current account fee is waived only if you maintain monthly average balance >1k (or 5k , forgoten). is that true?

This post has been edited by ktn1169: Apr 8 2015, 01:57 PM