Ok boss, thats the problem everybank offer same haha

This is the best. Before recent OPR hike, lowest was 3.7%.

You're lucky already. Few months ago was still 3.85%
Seems recently some drop to 3.8%

Good to know, so means those 3.7% have already become 3.95% now . I find it interesting now is Almost the lowest rate period we ever had in recent many years . Current 3.8% is even lower than COVID time (COVID lowest 2.8% +1.25% rate hike most ppl paying 4.05-4.1% now)

This post has been edited by Gatsby IT: Jul 28 2024, 01:31 AM

Good to know boss, I heard about that too, maybe Maybank will try be the first to push 3.75% hahaha

For me maybank wouldn't even drop to 3.8% (UOB and OCBC offered me this), so... maybe different evaluations of my situation.

Same, banker said it was possible but needed approval

sharing on my recent loan offers.

RM700k
34 years

1st Round
RHB - 3.85%, MRTT 21k (said need minimum 3% of premium coverage to get this interest rate), full flexi
PBB - 3.85%, MRTT 21k (said need minimum 3% of premium coverage to get this interest rate), semi flexi
MBB - 3.8%, MRTT 4k, semi flexi

I then shared above offers to all banks and ask them to counter offer each other for lower monthly instalment

2nd Round
RHB - 3.9%, zero MRTT, full flexi
PBB - 3.8%, MRTT 2k, semi flexi
MBB - 3.8%, MRTT 4k, semi flexi (no change)

In the end chose MBB since I have been using it since forever for my salary, car loan and credit cards.

Thanks a lot for sharing.
Didn't know there is a chance for 2nd round appeal

Hi guys, my loan just got approved recently :

Amount : 1M+
HSBC - 3 years lock in , 99% cap , no MRTA , Islamic Flexi .
Maybank - 3 years lock in , 99% , minimum MRTA , Conventional Semi Flexi (RM25 per withdrawal fully online / Flexi OD type (variable monthly installments amount fixed principal) . But Rm5 monthly fee only .


Hi guys given the fact both bank offer same rate, which do you think is better? If Maybank able to nego to no MRTA . I have no preference but seemed like working with Maybank is the smarter choice ? Altho HSBC is quite loose in loan applications might be helpful if need other loan from them

To follow up :

I just studied more about Maybank MaxiHome Flexi, its confusing basically like OD with fixed principal amount to pay every month so first 10-15years total monthly repayment will be higher compare to conventional loan, but after that ur monthly installment dropped alot until year 35 due to the substantial initial principal u paid over the early years .

Anyone experienced can help comparing this to conventional flexi loan? which just fixed monthly payment, the interested saved (if pump cash in the current account) will auto be used to pay principal monthly.

Personal instinct firstly , the conventional flexi loan shud work much better since if i have extra money to put in every month for the first 10-15years , I can just gather them all inside the current account and save interest that way as well and not force to pay high installment . Secondly the money worth much less after 10-15years, so lets say im paying 5k installment now , 5k in 15-20years time shud worth much less compare today .

The only benefit i think off is if you never have much cash inside the current account (Flexi), then Maybank MaxiHome Flexi works well as forced extra saving every month as the principal paid is much higher at first to offset future interest . (No data to backup tho, Sifus plz come in to help)

I took some rough calculations : Maxihome flexi over 35years saved 15% of Total interest charged so thats a huge amount, but mostly due to early high principal paid, so not sure if i have extra cash (saved from not needing to pay high monthly installment) in conventional loan will match the saving of 15%.

This post has been edited by Gatsby IT: Jul 30 2024, 01:41 PM

Why do you prefer Maybank?
Does HSBC not have monthly fees for full Flexi?

This post has been edited by thecurious: Jul 30 2024, 12:05 PM

Actually have no preference just tot Maybank and Public bank is the harder bank to go into so maybe got advantage. Branch locations not an issue for me i dont mind even tho my town dont have foreign banks haha.

Seems that for you, HSBC doesn't require MRTA and no monthly fees while Maybank does. Since you said you don't have preference, it was weird that you said you considered Maybank as the better choice.

If all else are equal, doesn't full Flexi seem more attractive?
Usually people go for semi because lower interest rate and less fees but you got the same rates for full Flexi and semi.

This post has been edited by thecurious: Jul 30 2024, 12:17 PM

Maybank have Rm5 monthly fee and HSBC have RM10 monthly fee , Maybank asked for RM1k MRTA haha which I think can easily nego to zero . Will need only fully Flexi due to small business nature.

Problem now is Maybank offer weird MaxiHome flexi package that I mentioned in above post, not sure if it's an advantage of disadvantage 🥲

Hi everyone,

I wish to understand better loan processing and approval.

1. I've always heard about 'loan not approved'. In local context, does that mean the bank refuse to give any loans due to poor credit history or it is more commonly used to describe the margin given is not 90%?

2. Given that the profile of the applicant is OK, what will determine the margin? I have heard of in cases where the bank is aware of the rebates and discounts given by the developers, they will slash margin. In that case, will the bank admit margin slashed due to these rebates?

3. Given that the profile of the applicant is OK, what will determine the interest rate?

4. Does the calculation for DSR varied significantly from one bank to another bank? Someone in the previous replies about 5% of outstanding credit cards will be counted as commitment. Only a certain % of rental income will be counted?

Thank you in advance.

1. many factors, not just because of credit score.

2. other factors i.e property type

3. i.e credit score

4. yep

Got 3.8% for
HLB Flexi
MBB semi flexi

Any comments on this?

hi guys done some minor reading, is it when want to sell prop still under loan there is a lock in period?

also probably out of topic, need to engage REA/REN?

Hi, is there any way to reduce the rate after few years?

Other than refinancing