Refiance got many fees payable like legal fees, stamping etc. Then many banks still charging near 4% for New Loans despite rates cut alot...

In order to reduce my monthly installment, I am planning to pay a sum to reduce my existing home loan.

However, I am not sure how much it will be reduced after paying the sum. Is there any calculator available for this scenario?

which banks?

Means i can reduce interest if made additional payment every month? similar like i put in more money in current account for fully flexi loan?

All banks.
When refinancing, do factor in all the costs involved as well before deciding whether it’s worth the additional cost. I seeked for my banker’s advices n they advised me whether worth or not.

Hi Sifu, I would like to find out if there is better full flexi other than HongLeong Mortgage plus. The reason is HongLeong Mortgage plus is only 70% off set, I am looking like 100% off set. Many thanks

Hi all sifus,

Been offered by MBB semi flexi loan 3.30% 35years without MRTA. Is it agood deal? What is the best rate for the banks now?

Thus far, full flexi is mostly 70% capped. No more 100% capped if I am not wrong.

Not really. Some can get 3.2

Average 3.2, still it depends on factors like loan amount, profile, etc.

Thanks, I am checking with RHB if they have 100% but still no answer

Hi

would like to check. I am paying progressive interest since my condo is yet to complete. if I paying extra, will the monthly installment amount be revised again when my condo is completed. Or the amount is fixed unless refinancing? MBB semi flexi

3.1% is very Low man.

But my MBB banker said 3.3% is the lowest, and PBB said 3.22% lowest

lower than PL..haha

i dont know...but few forumers here claim they get 3.1%..huhu

How much is your loan amount?

370k

I would say 3.3% reasonable for the loan amount, 3.2 is lowest you may get but depends on bank offer.

This post has been edited by apalexar: May 22 2020, 10:44 AM

No, making additional payment will not reduce your interest rate.

Hi I got a question.

During the MCO period I've told my bank I want to continue my loan payment instead of taking the moratorium. The bank staff told me that I just need to continue my payment as usual if I wish to opt out.

So I paid my loan as usual last month, but I realized that my outstanding amount remains the same despite I made the payment (although the remaining installment period is minus by 1 month).

There is also another amount called "paid off amount" which is differ than the outstanding amount. the paid of amount is reduced after I made my payment.

what is that suppose to mean?

Thanks sifus.