Hello guys, I have been asking around and googling about this matter but just couldn't get some solid answers. I have recently applied my house loan and RHB just gotten back to me that they are now offering full flexi for the MY1 Flexi Home loan, here are my doubts:

- I understand that RHB only offers semi flexi all these while, and the banker claimed that this full flexi package was only available last month. It wasn't stated in their website, how true is this?

- the package includes no lock in period, no maintenance and admin fee needed for every month, no charges for any withdrawal, no notice needed for any withdrawal too. Sounds too gooding to be true.

What do you all think, gurus. Thanks for helping a very confused soul, I am first home buyer.

This post has been edited by Keropok Face: Aug 6 2014, 02:09 AM

http://www.rhb.com.my/loans/home-loans/hl_flexi_main.html

Just ask for offer letter, it should stated what being offered by the bank. If not agreed just dont sign and walk away lo.

Yes, I saw the website and it doesn't telly with the things that the banker said! I have also gotten the offer letter, but these perks are not stated in it.

ya dun sign if they didnt write those in da offer letter

This post has been edited by darrenlfw87: Aug 6 2014, 07:46 AM

I believe what shown on the website link above is semi flexi loan - you may check with your banker to confirm. RHB full flexi has no withdrawal charges.

The features quoted above is correct. Nevertheless the features may not be all stipulated in the LO. Perhaps you get a written confirmation on the product features from the banker who served you as evidence.

As far as I know, RHB offers semi-flexi type, not the full-flexi feature as I've had 2 housing loan with them (due to decent rates).

They did however managed to waive my RM50 per withdrawal fees on my 2nd loan.

My package in summary was:
- BLR-2.50
- No MRTA/MLTA committed
- No credit card
- No lock in (project)
- DIBS
- Semi Flexi
- Conventional

I've also learned that you should be cautious if they are not from the anchor bank itself like those mortgage consultants or wherever they claim to be. Then again bankers also tend to mislead to close sales and bad mouth other banks, therefore it is up to you to decide who are the honest ones out there.

No arrest fee for full flexi will be good for 1st time loan taker.

For me, nothing much different. Caused i cant pump so much money in so many loans. Just maintain one loan as full flexi will do

Previously RHB only has semi flexi, now they have full flexi which is a pretty new product launched in less than a month.

Thanks guys for your sifu advice!

Notice that there is this term in the RHB offer, hope that you sifus can help to shed some light on this...

Provided that all payment deal on the banking facility (whether principle and / or interest ) shall have been paid up to date, you are at liberty at any time without prior notice to prepay the outstanding amount of the banking facility in whole or in part subject to the following condition.

1) for partial prepayment of the housing / term loan, no prepayment fee will be chargeable provided that each partial prepayment shall be multiples of RM1,000 or such amount as the bank may at its discretion except.
- Does this mean if If I don't pay a multiple of RM1,000, I will be charged a prepayment fee by trying to pay extra to lower the principle? Also, if I don't pay that multiple, any additional will be counted as advance payment?


2). In the case where the bank has given an undertaking to release the banking facility to the developer, contractor or any person concern with the construction of the property and pending the release of the same in full, prepayment of the whole outstanding amount of the banking facilities is allowed only upon the condition that you obtain and furnish the bank a letter of confirmation from such party discharging the bank from all obligations under the said undertaking. -
So confucious, what is this?

Thanks! xoxoxoxoxoxoxoxoxoxo

This post has been edited by Keropok Face: Aug 6 2014, 10:59 PM

Obviously your loan is not full flexi. RHB semi flexi has this restriction that the excess payments will only be used to reduce principal and interest if it is in multiple of RM1000. Amount not in that multiple will be kept in a non-interest bearing advance payment account which gives you nil benefits, ie not reducing loan principle and interest nor getting interest income from this advance payment. No prepayment fee will be charged for the prepayment whether is in multiple of RM1000 or not. This is what I gather from the RHB banker.

For Q2, if you have prepayed the full loan outstanding while the Bank has yet to release the full sum, theoretically your loan has already been fully settled. However, the bank's undertaking to the developer still remains. So, to protect the bank interest, the bank would want the developer to discharge its obligation when the loan outstanding is fully prepaid.

This post has been edited by Jasoncat: Aug 6 2014, 11:20 PM

If not stated in offer letter and it is a risk if u sign the offer letter, they might put the term or might not put it in the loan agreement.

To me the condition looks confusing, just walk away and look for others bank. There are so many other banks, citibank, ocbc, hsbc, maybank, cimb etc ...

From my information gathered, here is a rough breakdown of loan types:

Full Flexi Loan
- Usually have a maintenance fees of RM10 per month
- Able to withdraw or deposit at will (don't drawdown more than you deposit if not a certain interest will be charged)
- Given a chequebook, online account, ATM card if needed
- Daily rest
- Usually have only 1 concurrent account therefore no transfer is needed to offset the other account
- Similar to a current account

Semi Flexi Loan
- No charges imposed however each time you decide to withdraw they will charge RM50
- A minimum of multiples of RM1000 to deposit or withdraw (means you cant deposit or withdraw any amount that you like ex: RM1000 or RM2000 or etc.)
- Over the counter, which means for your own money deposited, you may have to go through an approval for your own money to be withdrawn (wtf right.. its my money!)
- Usually its a saving account type

Both also allows you to do principal reduction but upon doing so, you no longer can withdraw that money out should you require it.

However both type of loans enables you to save interest if you deposit additional money on top of your usual installment.

So if those relatively new to loans and have more stringent cash flow then you should just opt for a basic loan type.

how you get -2.5 ?
i only get -2.4 with MRTA :'(

Its an under construction project, therefore at that point of time, they had the best rates compared to all other banks. Normally in under construction projects they will have a board rate usually benchmark by loan size. Sub sales rates usually is depending on loan sizes and your credit portfolio.

I fulfilled their criteria to get BLR-2.50% with DIBS. They usually give out really good rates on high grade developers.

wow !! BLR-2.5%, what is your loan amount, bro ?

but you have to maintain for the full flexi acc like arrest fee for rm10 every month and some bank even charged for cheuque books which comes with full flexi current acc. Some bank even charge the annual fee for the debit card (RM20) or normal ATM (RM8) issued or to maintain the full flexi current acc as well. A lot hidden charges. Have to be extra careful.

Cheque book will incur the stamp duty of 15 cents per cheque leaf. As for the maintenance fee of RM10 per month, that depends on bank - some do charge some no.

yeah, headache when comes to the terms "different banks different policies" Thats why i always stick with RHB and HLB

Thank you tai kors for your advice and breakdown, I decided to go for cimb instead. Their full flexi terms are very straightforward.

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

Do you have any information on this so far?
I've took RHB Full Flexi Loan, there are method to do it, I am in the midst of doing that because previously I have missed out to do standing instruction between current account and loan account in order for withdawal to be done online.
The RHB full flexi package is that zero admin fee and zero monthly fee, as it's a new item for RHB Bank, till date they promoting the package.
I can provide you my RHB banker contact, she is very helpful because the full flexi is still not as mature as CIMB, hence need to familiarize the system, then will be fine.

Hi I am considering taking up this loan as well. My purpose of taking this full flexi is to transfer my salary payment to this acc to reduce the daily interest etc. Looking at your comment, I need to transfer the cash between current and loan acc which might not suite the purpose.
Is it recommended taking up with RHB or shall I proceed with HSBC or CIMB? Appreciate your advise..quite confused

U can use maybank maxi home plan, if u interest on it, kindly pm me, i can assist u on it

I have successfully done the RHB full flexi loan and all related process.
- say transfer RM50k from current account to loan account to reduce the principle interest in daily basis, then transfer back from loan account to current account freely with ZERO transfer charges and ZERO monthly charges.

Let me know I can recommend you my RHB bank agent contact because she is very helpful in helping me solve all problems regarding on this and knows well on this full flexi loan package.

Heard from my Banker this is due to their system limitation for the 1K multiple payment to reduce principle if bank in direct to loan account or transfer from current account.
But if you transfer from 3rd party bank into loan account, then any amount will grant as reduce principle.

If you need to do so to reduce the principle, then this is just a semi Flexi loan to me. A full Flexi loan doesn't need to do this transfer things to save interest.

There is too much banker keep telling people they have full Flexi loan and even tell people their semi Flexi loan is same as others full Flexi loan. And also keep on telling you that only businessman will benefit from full Flexi loan.

As what I know, RHB doesn't have a real full Flexi loan package yet, it's just a semi Flexi loan to me. (Sorry Rhb)

Go for CIMB or hsbc full Flexi loan or others bank that offer full Flexi loan. The one that will automatically reduce principle interest when you just dump money in current account and you no need to transfer money from current account to loan account, and also the loan instalment will automatically debit from your current account. So basically you just dump all you salary, extra money in current account and and just withdraw/spend money as usual. The rest let the Full Flexi Loan do the job for you.

hi..thank you for the advise..apologies for the delayed reply. I have taken up and followed ur advise. I went ahead with CIMB though RHB was able to give me RM 10 savings per month.

Just some input as I'm also looking into RHB as one of my loan options.

Latest from banker is:

- for loan balance reduction (saving interest) purposes, can transfer direct, no need to go through current account. For eg, from M2U direct into RHB Housing Account.
- still need to transfer monthly to RHB current account for loan instalment purposes.
- can withdraw anytime with no charge / fees / written notice etc
- no RM1k multiple requirement (can put in ANY amount you like to reduce interest). RM1k multiple only for their semi-flexi package.

So far I feel is quite good compared to others. Any thoughts? About to take the plunge

This post has been edited by phoenixxx: Jun 25 2015, 02:18 PM

Wish you good luck if you take Cimb housing loan

If for me, i definitely wouldn't taken any loan from Cimb Bank because I have faced very worst experience from this so called 'sophisticated stupid' bank

Fyi, Cimb sale staff also lodge so much complaints to HQ, had given so much of feedback on the remittance or credit processing department regarding about the full settlement account when customer want to fully settle & redeem the property but unfortunately very very difficult because all the staffs unable to directly contact their own management, every issues just send out by mail with just reply 'noted' or some time not even reply

If you not believe, please check with for friends for those working at relevant department

What I can said...I have been follow up with them until vomit. ..

I'm on RHB full flexi. The other advantage I felt was that parking spare cash in the loan account offered another level of security. If I wanted to withdraw I'd have to transfer the amount into the current account first. It might be troublesome to some, but I don't mind having to über micro my finances as that gives me more control.

That and the lower rate helped me make my decision. That being said, it's all up to individual preference.

I'm using the non flexi daily interest blr loan which i selected in a rush mode..is it like car loan which even if paid extra monthly or wheneever i get bonus,it's not gonna reduce anything from principle? Really not satisfy with my loan officer explaination as she only said it will be treated as advance payment. Now kinda regret

Yes you are right for withdrawal need to transfer from loan into current account in RHB. Its a quirk of the package I suppose but so far RHB is the cheapest. Not sure of any strings attached though coz other banks seem to have problems to match the RHB package I mentioned above.

I personally don't see it as problem to transfer from loan account to current account as this can be easily done with internet banking. Rate wise other banks also have similar / same pricing but in terms of product package, RHB is very competitive (no ancillary fees or charges required).

Yes I suppose so. Usually money put in for balance reduction will not be taken out, unless during emergency, so withdrawal isn't going to be frequent anyways. At least that's the plan.

i'm deciding in between RHB and Maybank.

RHB
- full flexi
- waived the one time rm200 and monthly rm10 fee
- higher MRTA, 19K
- RM2149 monthly

Maybank
- semi flexi
- lower MRTA, 11K
- RM2086 monthly

i don't foresee myself dumping additional money to the loan anytime soon and even if i did, i don't think i will be withdrawing it.

any other consideration dear sifus? my first house

I believe MRTA for RHB is optional, ie you can opt not to take it or find one yourself outside, at least it is for me.

but if i get it outside, i won't be able to finance it to my loan right?

Yeah, if you want to finance it into loan, you have to take from the bank. You take MRTA to cover the full tenure of the loan?

loan is 35 years, i'm taking 25 years. for RHB, 35 years exceeds 95% loan.

Since you don't intend to take out money, full flexi / semi doesn't really matter for you.

Just sharing from my limited experience, you can opt to use the same lawyer for both SPA and loan. Usually can get better discount if 1 lawyer handle both. But you need to inform the bank that you don't want their panel lawyer. I got 55% discount from mine currently for the legal fees. Also on lawyer, ask them to give you detailed quote. Ask them to take out all the disbursement etc, can save a bit on that.

Next is maybe ask bank to waive (unlikely) or discount on valuation fees. On your case, valuation should be 0.25% on 1st 100k, then 0.20% on balance. There's a schedule on board of valuers website that you can check and calculate.

Some agents will ask you to sign up credit card together with loan, use that as bargaining chip for better deal.

Since first property, if it's below 500k, you can apply for 50% discount on stamping. You can only use this for first properly + below 500k. Also if your loan is Islamic, you get 20% off the loan stamping as well but bear in mind Islamic loan may have more loan documentation (additional cost) which may offset the discount.

Hope it helps, just my limited experience.

This post has been edited by phoenixxx: Jun 26 2015, 12:04 PM

i'm using the same lawyer for SPA and loan. will ask for discount.

i'm torn in between RHB and Maybank now.
RHB, full flexi, higher MRTA, additional RM38 every month that will total up to RM15K in 35 years.
Maybank, semi flexi, lower MRTA. i save RM15K in 35 years.

Have tried talking to RHB to request for lower coverage or shorter tenure of the MRTA to maintain the same loan pricing?

Did you ask RHB why their MRTA so much higher for same amount, same tenure vs MAYBANK? I didn't really pay attention to mine since I'm not taking but IIRC most banks quote around the same ballpark figure.

This post has been edited by phoenixxx: Jun 26 2015, 12:22 PM

RHB RM19K. Maybank 11K.

RHB claimed that their surrender value is higher than other bank hence the higher premium. I'm meeting the Maybank dude tonight to look at the value. decision decision...

Ya.. Could be due to that. You can request the schedule and compare it side by side. Then see for yourself if the higher surrender value is worth it.

Anyway, unless you plan to stay there for 25 years, no need to take so much MRTA. Average person will sell / upgrade / refinance before that, then your MRTA will burn since it is tagged to the loan (unlike MLTA which will follow you)

All the best in your decision.

according to RHB i can get back money if i sell the house. that's the surrender value. hmmmm

If you not taking the MRTA from RHB, then your RHB installment got increment? By how much?

didn't ask. haha. but i've decided to change the MRTA to 15 years instead. friend said 25 years are too long. being a grown up is not fun

Lol... Bank cannot force you to buy MRTA from them.. Of course normally with MRTA package, bank can offer you a better rate.

If the different is not much, I would suggest you to take the full flexi account.

for 25 years, Maybank 11K, RHB 19K.
i save rm30+ a month if i go with Maybank and RM15K for 35 years haha.

Maybank semi flexi
RHB full flexi

Take loan from RHB, buy MRTA from Maybank..

Suggest you reduce the MRTA tenure, anyway RM30 / mth difference is not that big, and you probably won't service the loan for 35 years, except if for the next 35 years your earning power stay the same, ha ha...

Otherwise just take Maybank.

Tried any other banks? StanChart, PBB, Citibank, HSBC, OCBC, CIMB etc...

reduced the MRTA to 15 years.

UOB interest is 4.45. the rest of the banks just disappeared after i've submitted my docs.

Lol... all up to your preference.. Even you want to reduce MRTA to 5 years also no problem, as long as the bank lock in the offer rate.

RHB got full flexi? since when?

If I'm not mistaken, about a year ago.

RHB Full Flexi since 1 yr ago. But the mechanism abit different. You still have to put the money into the loan account, but can withdraw anytime into the linked CA anytime online. I know because I took it.

Funny thing is RHB's full flexi is not showing in loanstreet's housing loan comparison page. they're usually pretty updated but looks like they dropped the ball on this one.

i see, thanks, my last 2 rhb was semi

anyone knows how to withdraw from the semi flexi? must be via loan's home branch?

I have just chosen RHB full flexi, and my banker told me that i need to do Standing Instruction in order to do withdrawal from the loan account into current account in the future. Do you need to do the same?

No, we are supposed to use online banking to transfer from loan into current or vice versa (note: for current into loan acc, we can only transfer in multiples of 1k). That's the whole point of choosing Full-flexi, that we can transfer whenever we like. For Semi-flexi, we have to give a written notice to the bank when we want to transfer. If you need to notify the bank in advance, then your loan is semi-flexi.

I don't understand why your banker is telling you to do a Standing Instruction when it should be just a written notice. A standing order/instruction is an arrangement an account holder makes with the Bank to pay a fixed amount at regular intervals to another account (eg. savings to loan).

Recommended reading:
http://www.iproperty.com.my/news/8996/comp...lexi-home-loans
http://loanstreet.com.my/learning-centre/f...ty-loan-options

its definitely look like a semi flexi loan to me, i having two RHB loans and all are semi flexi.

Still prefer semi flexi

i hate paying rm10 arrest fee for nothing every month, thats blood sucking

Agree!

BTW, I hate you Peri Peri!

good u r back, next time behave

That's why I chose their full-flexi, no monthly charge.

seriously? wow. iam amazed. will call my RHB mortgage officer to ask about this, thx

HSBC full flexi need pay RM10 every month.

mine HLB also.

Luckily mine is MBB

i got MBB also, semi flexi.

MBB mortgage loan rox