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

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.

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 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.

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?

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

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

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.

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...