thanks for the explanation, appreciate it very much. Btw do you have any idea usually how long it takes for the bank to disburse the money after approval of refinancing?

This question, we will need our sifu wild_card_my

The BNM ruling as practiced today, refer to the dates the loans are taken. 1st and 2nd property can be finance at 90% but it doesnt matter if you did not finance it at 90%, because the 3rd property will only be capped at 70%!

As such, to prove this to the new bank, all you need to do is to make them a copy of all your bank loans. The 1st and 2nd property (according to the date of the LO) can be refinanced to a maximum of 90%, while the 3rd property is now limited to 70%.
You got this right.
It depends on the bank, but I can confidently speak for OCBC and OCBC Al Amin... (eh.. which is your bank). The interest for this loan is based on daily-rest, that means the moment you make an additional payment (called advanced payment by OCBC), you would already save the interest for the next day onwards, for the amount that you paid in advance.

edit: But yo yo yo, please do call the bank to confirm ya. I cannot be liable for any misinformation here. I am confident of it though, just that it is your responsibility to confirm this with OCBC call center.

So yes, if you want to save the interest of 4.4% (whatever you housing loan rates are) on a daily basis, do go ahead and pay in advance. Every interest that you paid in advanced, is money saved! In essence, this is WAY BETTER than putting your money in FD Also, all advance payment can be deducted automatically if you do not pay (or not able to pay) the monthly installment, say in the event where you go to vacation or something

- Faiz Azmi (+6 013 369 3993)

Thanks Sifu !. Mine is OCBC ( not the OCBC Al Amin)

hi would like to ask any good OD package (pledge the hse) excluding the 1% committment fee if more than rm250k TQ?

I would save some of your time searching by telling you that AMbank, OCBC, Maybank, Alliance and HLBB (banks under our firm's panel) that all these banks got that 1% commitment fee for unused OD (or standby OD) that is more than RM250k.

So you can start your search at other banks now

This 1% Commitment Fee is imposed by almost all Banks in MY (to add on to wild_card list is RHB, Public, Affin)

Even for HNW the Banks also charge the 1% Commitment Fee, for Super HNW I am not sure but my contacts with very big facilities (in the hundreds of millions) also get charged 1% Commitment Fee for their undrawn OD

i think it is under BNM rules..

if you want to get 500k OD unless you get one OD RM240k & another RM240k so n so

any other way to get the cheaper standby fund by pledging the house?

Recently bought an Auction House in Cheras, RM242k.

This is my second house, as the first house loan is 606k (still in construction, released loan of 110k atm), and have a car loan @ RM900 / month, 3 years to go.

Net income @ RM5.3k, any possibility to get loan ? or any suggestion?

Thanks.

Recently bought an Auction House in Cheras, RM242k.

This is my second house, as the first house loan is 606k (still in construction, released loan of 110k atm), and have a car loan @ RM900 / month, 3 years to go.

Net income @ RM5.3k, any possibility to get loan ? or any suggestion?

Thanks.

Already bid successfully and paid 5% reserved price, just that might joint loan with others if that's the only option.

Initial car loan amount is 60k, 7 years loan at 3.2%.

House loan is at 40 years, 4.25%.

Bonus is 13th salary, so another 5.3k there.

what is your gross income before you deduct any of your statutory deductions?

Should be RM65k this year.

based on my calculations, you are overburdened already. No new loans can be taken without letting go some of them. The installments for the 1st house will be taken in as a full amount by the other banks.

No choice but to rope other people into the loan.

Should be RM65k this year.