what's the difference between semi and full flexi loan?

3.9 is quite high, try apply others and see if can get ≤3.7

Monthly maintenance fee RM10 for full flexi while free for semi; withdraw anytime without charges for full flexi while extra withdrawal charges from RM20~50 per time for semi and sometimes advance notice needed

Frankly 3.90% pa is quite high, sure it is from MBB?

Can try get lower around 3.70 ~ 3.80% from other Banks.

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This post has been edited by joshuawhlam: Mar 29 2020, 11:02 PM

3.9% is quite high though.... imagine if the OPR increase back 0.5%, you are paying 4.4% compared to let's say those who got thier loans approved last year @ 4.15%

yea. 3.9% 35Years from Maybank. If OPR rises then.. ~.~
my sister got 4.15% from PBB in Dec 2019, now she's enjoying 3.65% ..

If 5 years later, BR increase +0.5 back to normal, then her interest rate is just 4.15 and mine will be 4.40..
I'm still wondering why many property agents are telling me it's a good time to buy because interest rate is low..

thanks for the explanation

how do you guys reduce interest? my banker says just transfer more to the loan acc.

i read somewhere that i gotta put cash in current account.

Let's say your loan is 100k, if you put 100k inside the account, no interest will be counted and every month you just need to pay the principal.
But if your loan package with capped interest, for example 70%, if you put 100k inside the account, no interest will be counted on 70k outstanding but another 30k still got interest, every month you will pay principal+interest on 30% outstanding loan amount

my current loan is 3.92% after recently rate cut, first one only, can I refinance to get lower rate?

This post has been edited by kelvinfixx: Mar 29 2020, 09:27 AM

do consider the lawyer fees involved

Wow that’s very helpful!! Thanks a lot sifu!

You're welcome, not sifu but just sharing my past experience

Refinancing incurred Legal Fees, so must consider reason for refinancing.

If for rate reduction, best you could get is around 3.70~3.90% depending on Loan Amount.

Say, 3.70%. your savings is just 0.22% pa and if loan is RM300K.. it is merely RM660 on first year.
The outlay costs of Legal Fees and Valuation would require a substantial payback period before you really gets to enjoy savings.

It will be different if you wish to take out monies for real purpose.

yes.

So, if reason to save on interest.. should approach with higher repayment to reduce payback period. It would be better option than to let Lawyer, Valuer, LHDN and Govt Offices earn those initial outlay for refinancing.

Hi all sifu here. My housing loan with uob. Is there anyway i want to change it to islamic loan.?

If it is conventional, you would need to redo the loan by refinancing. No other option.

Hi bro. Kena refinance? I actually dunno what is refinance i already paid 5 years for my house. No overdue. Since i just wanted to follow islamic law.

No choice, if it is conventional loan.. already signed the standard Conventional Agreement.

If you want Islamic, so need to sign Islamic Financing Documents.

If don’t mind, then continue your conventional loan instead of incurring refinancing costs.

refinance to have a peace of mind.