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> Interest changing to BLR + 0% and higher?, Starting from 1 January 2015

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lovesick_joe
post May 15 2015, 10:21 AM

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This post has been edited by lovesick_joe: May 15 2015, 03:10 PM
almaine
post May 22 2015, 05:07 PM

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what is the latest cimb br? 4%?
JusteaParty
post May 23 2015, 08:54 PM

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hmmm just according what i know,

bnm set this changes to BR is to let people knows how much banks earn from us,

BR = bank costing and operational rate,

+y = profit spread

lower BR can be said as lower cost operational for example the "M" bank have the highest FD asset cash and saving acc asset cash, thus they wont need to get klibor rate.

just my 2 cent opinion


ims2628
post May 23 2015, 09:17 PM

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QUOTE(almaine @ May 22 2015, 05:07 PM)
what is the latest cimb br? 4%?
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Yes 4
Jasoncat
post May 23 2015, 09:32 PM

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QUOTE(JusteaParty @ May 23 2015, 08:54 PM)
hmmm just according what i know,

bnm set this changes to BR is to let people knows how much banks earn from us,

BR = bank costing and operational rate,

+y = profit spread

lower BR can be said as lower cost operational for example the "M" bank have the highest FD asset cash and saving acc asset cash, thus they wont need to get klibor rate.

just my 2 cent opinion
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Nope. The BR framework is not to let people know how much banks earn from the consumer. It promotes transparency and better reflects the transmission of monetary policy changes.

BR comprises 2 major components - the benchmark cost of funds and the statutory reserve rate.

The spread comprises not only the profit elements but the overhead charges, the liquidity premium and the credit cost.
Icelaac Ho
post May 30 2015, 11:40 PM

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QUOTE(Jasoncat @ May 23 2015, 10:32 PM)
Nope. The BR framework is not to let people know how much banks earn from the consumer.  It promotes transparency and better reflects the transmission of monetary policy changes.

BR comprises 2 major components - the benchmark cost of funds and the statutory reserve rate.

The spread comprises not only the profit elements but the overhead charges, the liquidity premium and the credit cost.
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why are you contradicting yourselves? not to let people know and promotes transparency?
Jasoncat
post May 30 2015, 11:58 PM

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QUOTE(Icelaac Ho @ May 30 2015, 11:40 PM)
why are you contradicting yourselves?  not to let people know and promotes transparency?
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Are you saying BNM contradicting itself. Lol.
The transparency here refers to the fact that the details and computation of BR and the spread components are clearly defined and guided strictly by the banks' own policy - as opposed to the BLR framework which do not have a proper way of computation. These information are accessible by BNM not public though.
goolie
post Jun 9 2015, 10:56 PM

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Recently i got 2 loan offers for under construction housing project but still making tough decision. Both are islamic loans.

Bank P:
Lock in period: 3 years
Interest rate: 4.55%
Tenure: 35 years
MRTA: RM900++ for 7 years ( the minimum one)
Margin of Financing: 80% (144k)
RM200 processing fee, after GST it comes out to be RM212

Bank H:
Lock in period: No
Interest rate: 4.70%
Tenure: 30 years
MRTA: RM700++ for 5 years ( the minimum one)
Margin of Financing: 100% (150k)


Question 1: Not very sure which one is full flexi or semi-flexi. Is this important for us to consider? What is the different btw the both?

Question 2: Heard Bank H officer said Bank P may start charging interest if there's no payment after 1 month, whereas they only start charging after 2 months. Is that true? or is there anything else do i need to check with them?

Question 3: Which package is better after taking into consideration of interest charging period in my question 2.

Question 4: Heard Bank H officer said MRTA is compulsory to take in order to get good rate at 4.7% . Is that true? Can i opt not to take it?

Kindly advise.

This post has been edited by goolie: Jun 9 2015, 11:19 PM
ims2628
post Jun 24 2015, 04:56 PM

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QUOTE(goolie @ Jun 9 2015, 10:56 PM)
Recently i got 2 loan offers for under construction housing project but still making tough decision. Both are islamic loans.

Bank P:
Lock in period: 3 years
Interest rate: 4.55%
Tenure: 35 years
MRTA: RM900++ for 7 years  ( the minimum one)
Margin of Financing: 80% (144k)
RM200 processing fee, after GST it comes out to be RM212

Bank H:
Lock in period: No
Interest rate: 4.70%
Tenure: 30 years
MRTA: RM700++ for 5 years ( the minimum one)
Margin of Financing: 100% (150k)
Question 1: Not very sure which one is full flexi or semi-flexi. Is this important for us to consider? What is the different btw the both?

Question 2: Heard Bank H officer said Bank P may start charging interest  if there's no payment after 1 month, whereas they only start charging after 2 months. Is that true? or is there anything else do i need to check with them?

Question 3: Which package is better after taking  into consideration of interest charging period in my question 2.

Question 4: Heard Bank H officer said MRTA is compulsory to take in order to get good rate at 4.7% . Is that true? Can i opt not to take it?

Kindly advise.
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important to know semi flexi or full flexi as there's setup fees and monthly charge for most bank full flexi except rhb.


buncho89
post Feb 5 2016, 09:28 PM

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When I signed my loan in Oct 2015 it was 3.8+0.6 = 4.4%...

Then BR increased for Ambank and now its 4.0+0.6 = 4.6%...

Anyone else gone through this pain?
Jasoncat
post Jun 17 2016, 01:06 PM

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The recent change in Base Rate of some major banks.


Attached thumbnail(s)
Attached Image
WahBiang
post Jun 18 2016, 11:14 PM

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QUOTE(Jasoncat @ Jun 17 2016, 01:06 PM)
The recent change in Base Rate of some major banks.
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How about UOB? Forgot to highlight?

Jasoncat
post Jun 18 2016, 11:17 PM

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QUOTE(WahBiang @ Jun 18 2016, 11:14 PM)
How about UOB? Forgot to highlight?
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Isn't UOB in the list?
WahBiang
post Jun 18 2016, 11:29 PM

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QUOTE(Jasoncat @ Jun 18 2016, 11:17 PM)
Isn't UOB in the list?
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Mislead by your pic.. tot you wanted to highlight those most recent with the blue selection
Jasoncat
post Jun 18 2016, 11:31 PM

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QUOTE(WahBiang @ Jun 18 2016, 11:29 PM)
Mislead by your pic.. tot you wanted to highlight those most recent with the blue selection
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Lol. It was a photo taken from paper - can't change the colour.
mamamia
post Jul 16 2016, 11:06 AM

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Besides Maybank lower their BR n BLR after OPR cut, which bank has reduce ? I'm waiting for OCBC to reduce their BLR
Jasoncat
post Jul 17 2016, 09:23 PM

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QUOTE(mamamia @ Jul 16 2016, 11:06 AM)
Besides Maybank lower their BR n BLR after OPR cut, which bank has reduce ? I'm waiting for OCBC to reduce their BLR
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Ambank and CIMB cuts 20bps too. BSN announced wI'll cut rate too but undisclosed of the quantum and timing.
xproc
post Jul 28 2016, 05:52 PM

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CIMB Bank 3.90 (link)
Hong Leong Bank 3.69 (link)
Public Bank 3.52 (link)
RHB Bank 3.65 (by banker, 22 july link from 3.9-0.1=3.8, tmr news 3.8-0.15=3.65)

This post has been edited by xproc: Jul 28 2016, 06:40 PM
monara
post Aug 2 2016, 07:48 PM

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Hello guys, need experts enlightenment/ opinion here..

If choosing housing loan, how to consider the best (lowest) rate?
From what i knew, the effective lending rate is the interest rates, so obviously the lowest is the best.
Then comes to base rate, how to compare. Is lowest or highest bank rate will be better? let say after adding the spread, interest will be the same.
Simple example is like below case, quoted from few pages back.

Thanks guys.

QUOTE(homepp @ Apr 10 2015, 10:49 AM)
Hi all sifu, which bank are better if base on below br and spread ?

mxyank = ( 3.20 br + 1.25 ) = 4.45
uxb ( 4.02 br + 0.43 ) = 4.45
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Investor King
post Aug 6 2016, 12:07 AM

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Have u figured out which one is the best?
QUOTE(monara @ Aug 2 2016, 07:48 PM)
Hello guys, need experts enlightenment/ opinion here..

If choosing housing loan, how to consider the best (lowest) rate?
From what i knew, the effective lending rate is the interest rates, so obviously the lowest is the best.
Then comes to base rate, how to compare. Is lowest or highest bank rate will be better? let say after adding the spread, interest will be the same.
Simple example is like below case, quoted from few pages back.

Thanks guys.
*

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