Thanks for the advice..meaning I should just call banks up and advice me?

If not mistaken the property is a commercial title and I dont think I would have any problems on the repayments.
It is a subsale property no GRR involved..

Thanks for the heads-up though

The choice of banks would usually go down to the ones giving the best rates. But board rates for most banks are pretty much the same these days, after appeal (non-guaranteed) you may get better rates. Then it boils down to your preferred banks which is not necessarily the bank your salary is deposited into as inter bank transfers are only 20sen nowadays.

Sometimes you may face a lack of choice too as not all banks will finance your property because of multiple reasons:

1. Condition and location of the property, some banks wont finance props older than 10 years that has to strata/individual title
Under certain condition and location of the property, some banks wont finance props older than 10 years that has NOT YET convert to strata/individual title,  HOWEVER, PUBLIC & CIMB bank can do


2. Your income levels too low, or commitment levels too high. In this case it would be best to go for banks with higher debt-service-ratio limits  like Hong Leong with DSR limit of 85% compared to others which typically maxes out at 70%

FYI, CIMB also have the DSR maxed at 85%

So my suggestion is to go for multiple banks, there are a few brokers her and there are many banks out there. The most important thing is service, as the rates are the same between brokers and bankers as the rates are considered and approved by the HQ.

May I know from which bank offer this rate ?

Depends with bank it's actually consider not bad already. If ambank should be able appeal lower rate I had done few cases in this loan amount able get as low as 4.35

Most bank's semi-flexi account has not monthly commitment fees, so you can go for any of them. They do have withdrawal fees though each time you need to withdraw the deposited capital repayment (Im not referring to advance payments which usually cannot be withdrawn).

For full-flexi accounts that come with savings and debit/check-book, the monthly fee ranges from RM10 to 25 last I checked, depending on the banks. RHB has no fees so I am told.

PBB but withdrawal fee very expensive. RM50.
Thank you to both sifus. Your info and guidance is very much appreciated.

pbb they compulsory need to bundle with mrta in their loan package right? withdrawal fees actually maybank also same rm50. maybe can try ambank their rate is quite competitive recently and their withdrawal fees is only RM10, or rhb for their full flexi since there's no monthly charge and setup fees.

Sifu, which one is more worth it ??

Option 1) 4.5% with MRTA
Option 2) 4.6% without MRTA

Loan amount is RM351K

Sifu, which one is more worth it ??

Option 1) 4.5% with MRTA
Option 2) 4.6% without MRTA

Loan amount is RM351K

0.1% difference only attributes to RM100 per year per RM100,000 outstanding. IN the first year, you would be paying RM351 extra to the bank in the form of interests, this figure goes down as your outstanding goes down.

Now with MRTA you would need to finance it into the loan, and it would be expensive if you are older. Your alternative would be:

1. No insurane

2. Short, 5 year  MRTA (basically no insurance)

3. MLTA

MLTA coverage is fixed; agents love to paddle the fact that MLTA has a cash back, true, but it will affect your cashflow since the monthly premiums are usually higher than the MRTA monthly repayment costs when included into the loan

hmm.. why interest rate seem high for me, if 4.5 with mrta is public bank the rate they should able appeal to slightly lower maybe 4.45. have you request your banker to appeal rate for you?

Good advice Sir.  Thank you.
It was quoted by RHB. Can try to appeal 4.5% or 4.55% without MRTA but no promise.
No monthly maintenance fee, no setup fee, no withdrawal fee, lock in period (forgot) years.
Question:
Maybank has the lowest BR of 3.2%, why isn't the effective lending rate cheaper then other banks ??

0.1% difference only attributes to RM100 per year per RM100,000 outstanding. IN the first year, you would be paying RM351 extra to the bank in the form of interests, this figure goes down as your outstanding goes down.

Now with MRTA you would need to finance it into the loan, and it would be expensive if you are older. Your alternative would be:

1. No insurane

2. Short, 5 year  MRTA (basically no insurance)

3. MLTA

MLTA coverage is fixed; agents love to paddle the fact that MLTA has a cash back, true, but it will affect your cashflow since the monthly premiums are usually higher than the MRTA monthly repayment costs when included into the loan

is there a way to work out mathematically whether paying extra for mrta in exchange for lower interest rate is beneficial? for my case, 3.5k for 5 yrs mrta and 0.15% reduction in interest rate for loan amount 530k.

Dear sifu, need advise regarding my first loan disbursement

My loan not yet able to disburse and causeing late payment(I think developer will penalty me)

Story:
1. Check with loan lawyer the status on 06 July, lawyer feedback will issue loan advise letter to bank

2. Check with Loan lawyer the status on 13 July, lawyer feedback advise letter sent to bank on 07 Jul, pending bank payment.
Call banker and lawyer to get latest update,

1. Loan officer help me check in their system show my loan pending latest land search from lawyer firm - 21 July

2. Lawyer feedback they not aware the bank officer request for latest bank search. I get the lawyer to contact to bank on this matter.- 21 July

Call to lawyer again today - 22 July
1. Lawyer feedback to me the bank officer just back from rAya holiday and had check with her. Below are the reason given by the lawyer.

a) bank officer update remark in system pending land search and go Raya holiday.

b) lawyer claim that their system not reflect to the latest status set by bank officer. There is system inconsistent issue(they use same system) and they not aware bank require new land search untill I told them.

Question:
In this case, who fault isit that causing me late payment? What can I do?

Can I argue and get waive in late payment?

Hello everyone,

I received a loan approval from MBB and according to banker it's MaxiHome (conventional flexi loan) and I can always put in extra money to save interest and withdraw them with a withdrawal fee of RM 25. The maximum amount to put in is up to 99% of the loan amount. According to him, this is not Maxi-Flexi as this loan product does not require me to open a current account which requires a monthly fee. However, I can't find any MBB product with this benefits through the internet. I'm just worried that there is any hidden clause that he is not telling me as this sounds too good to be true.

Any help is much appreciated!! Thanks!!