Hmm I think flexi is quite normal nowadays, difference just semi or full, depends on what you need.
Fixed loan you can't save interest even you deposit extra money, and what's your condition in case prepayment or early settlement?

Myb you can ask also what's rate they can offer you in case flexi loan, also may try pbb, ambank and rhb as well.
I got 3.73 from HSBC for refinancing, full flexi loan.

This post has been edited by apalexar: Feb 7 2023, 11:51 PM

1. Take mrta cover whole, or take min mrta with bank and get MLTA outside, ofc you can ask your banker if there's MLTA option or not with bank.

2. If you can afford then pay lumpsum, else add into loan.

3. Yes, yearly.

If you think your current insurance can cover the loan and family expenses then can just take min Mrta.

Depends on bank, some waive and some will charge.

If 6% most probably it's personal loan, wouldn't suggest you take it in this case.

Both fixed loan?

Then obviously is A, but the rate is for whole loan or only first few years?

This post has been edited by apalexar: Feb 11 2023, 11:38 AM

Hmm I thought you mentioned that one is fixed loan?

It's a good rate then, but still advise to get the letter from banker to check and confirm if the 3.85 is first two years but not later.

Isn't it should be 2.1k per month?

Hi guys, for your HSBC homesmart, the interest saved per month or total saved does not show on monthly statement nor online but can only get details when request to bank correct?

Thanks for reply, when I check my statement the only related detail I can find is interest per month, principal deduction and monthly installment.

The (monthly installment amount) - (principal deduction + interest per month) is not equal to 0 but there's some remaining so I wonder if that's the interest saved

Usually the zero moving cost campaign its loan interest is a bit higher compare to the standard offer cause bank include the fees as interest, for example standard offer is 4.0% and moving cost campaign rate can be 4.1/4.2%.
Anyway for your case refinance is definitely better cause you are having much higher rate.

From what I know it should be 70% of your total loan, lets say your loan is 600k so only 420k you deposited will help to save interest, the rest of amount wont help in saving. In case you deposit 100k, your loan interest will be calculated based on 500k.

Hmm I got two loans with cap (SCB and HSBC) but both doesn't work like that, plus either semi flex or full flex loan both should allow you to withdraw the money you deposited without clear the total loan.

Perhaps the runner/agent explain everything wrong to you, if it's true, just go for another bank as those conditions really unacceptable..