QUOTE(Onioncapsium @ Mar 30 2019, 11:24 PM)
For loan application usually people submit hard copy the require documents direct to banker or email softcopy to banker (this way safe not)?or better meet up and submit hardcopy?
Either way submission is still the same.
QUOTE(azlanys1 @ Mar 31 2019, 09:15 AM)
Hello sifus here,
I need some clarification on my Islamic housing loan (Semi Flexi Maybank since 2015).
Loan amount: RM578K
I compare my statement in 2016 and 2018 as follows:
31/12/2016:
Cost of Outstanding Finance: RM562 K
Total debit for the year = RM25091
Total credit for the year = RM38543
Profit charge for the month =
RM2000.61Monthly payment RM3122
31/12/2018:
Cost of Outstanding Finance: RM534 K
Total debit for the year = RM24515
Total credit for the year = RM38704
Profit charge for the month =
RM2018.27Monthly payment RM3197 (Increased since Apr 2018)
I need to know why was profit charge by bank in Dec 2016 vs Dec 2018 not reduced. Should it be lower in Dec 2018 since balance outstanding has dropped to RM534 k.
Let say if I dump RM100 K to reduce the balance will this profit charge by bank be reduced in my monthly statement.
Thank you
possibly because the interest rate you're paying has increased from 2018 vs 2016
QUOTE(Onioncapsium @ Mar 31 2019, 09:45 PM)
Is there any restriction to apply loan from few different bank (got maximum not)?
Suggest to apply max 4 banks at any point of time
QUOTE(garylimcn @ Apr 1 2019, 09:08 AM)
guys, i little bit confuse on the loan interest.
I was been told that the loan interest were BR + A = 4.4%
BR is base on each bank
A is a fix rate.
If I was offered by 2 different bank with loan interest of 4.4%, but the fix rate "A" is different. How do I consider?
It's Base Rate (BR) + Spread Rate (SR) = Effective Lending Rate (ELR)
SR is fixed when the offer is given but that's not entirely true as the bank can impose changes to the SR while you're serving your loan if you fail to pay on time for x amount of months. Usually 1 - 3 mths
With regards to if both banks give 4.4%, it won't differ much as you're still paying the same interest rate, so go with the bank offer that you have preference for.