Depends on the FI, but I think you can always just call them up and request a change. What the system 'auto' do - no right or wrong. As long as the principle is deducted accordingly, whether the new reduced principle amount is stretched over the original tenure or shortened with same monthly, neither option can be considered better or worse.

I would actually prefer stretch tenure, personally, because once your principle goes relatively small the loan becomes like an emergency store of liquidity.

referring to my above , got another offer for 3.8% (subject to 4 layer approval)

so i have 2 banks now

1) 3.85% for 90% loan + 20k MRTA <--- confirmed offer
2) 3.8% for 90% loan + 30k MRTT <------- subject to approval on interest rate

is it wrong for me to try asking the 1st banker for 3.8%?

This post has been edited by persona93: Jul 2 2024, 03:50 PM

trying to get 90% loan rm507.6k 35 years

get rejected from maybank and public bank

cimb offered 4.25% after appealed (initial offer 4.5x%)

now trying rhb and uob

Too high... Try nego 3.8

Yes 3.8

In my understanding, once got rejection from MBB/PBB this indicates something about applicant's risk profile which cause the rate to be higher. This is based on my understanding only, as a customer. Supply and demand, maybe not much possibility to nego.

Which bank offering 3.8% now? Q4 last year, lowest I got was 3.85%. One bank offered 3.83% after nego mati²

HLB , condition must take their CC first , after 6 months can cancel

Damn I just check with my HLB banker, it's true their best offer is now 3.80%.

Any idea if Maybank, Public and RHB also down to match?

Lowest d

I just get offer from OCBC Loan RM 7xxK @ 3.8 after nego without any MRTA/MLTA

initial they offer 3.8 compulsory to put in 2% loan amount in their bank however the banker able help me to appeal

Hello, I was wondering if anyone manage to get below 3.8% on a full flexi loan. HSBC and PBB offered me 3.85%, while CIMB offered me 4.1%.

This post has been edited by koktsin: Jul 4 2024, 03:01 AM

just for added info, the 3.8% is a semi flexi loan while the 3.85% is a full flexi loan

heavily inclined to the full flexi loan after much advice from family

wanna know what you guys think

you already got the answer, go for semilflex

so at the end of the day the interest rate is the deciding factor eh?

otherwise you wont apply few bank and compare their loan package. Most of the thread here you will find out client is asking for which bank offer lowest interest rate in the market instead of asking what is the suitable package offer to them.

i'm in the Mortgage industry for more than 10 years so I know it.

some client even asking got bank offer interest rate lower than 3.8%.

Not necessarily. Smaller banks may do but rates may not be as competitive.

okay got it, thank you very much for your input

This must be me and i am not ashamed for asking this.

I have both semi flexi (OCBC) and full flexi (CIMB) loan and I would always go with a full flexi loan.

For a semi flexi loan, you can still withdraw the exceed payments but it is troublesome. First, you need to tell the bank if the exceed payment which you are going to make is capital repayment or advanced payment. For OCBC bank, I had to call the call centre to inform them otherwise your exceed payment is considered as capital repayment by default. Withdrawal of exceed payment which has been considered as capital repayment is troublesome and at the discretion of the bank. You have to first request the back to reclassify your exceed payment from capital repayment to advanced payment and pay a withdrawal fee before the exceed payment can be withdrew. More importantly, in my case, I had to call the bank multiple times. I deposited the exact amount of fund which I own to the bank to offset the interest and the bank did auto/full settlement for me without informing me.

For a full flex loan, I maintain a Current Account and Loan Account, I can freely withdraw and deposit any fund into the CA to offset my loan interest. Although you don't earn any interest for maintain the fund in your CA, but the fund would offset your payable interest in your loan account which would be higher than your FD interest rate. This gives me a peace of mind knowing that I have an emergency fund readily available to me. I have other investments like shares, FD, crypto, forex and unit trust but they are less liquid in comparison to cash in bank and you may have to sell them as a discount or a penalty if they have a maturity period (like a FD).




Life is full of uncertainties so we better be prepared.... especially when you are the sole breadwinner in your family.

This post has been edited by koktsin: Jul 4 2024, 02:20 PM

yes, you can. write in to your home branch and seek for interest rate revision. If u got the other bank refinance offer letter, lagi best, the home branch usually use this to appeal with HO to the interest rate. But provided you can get offer letter before signing and get to your existing bank loan in the revision. Usually u get the offer letter when meet up with the loan agent and sign on the spot.