i have a question on MRTA, appreciate some guidance. Loan amount RM588k

I have been offered by 2 banks same loan amount, one bank (Bank B) higher interest rate by 1.7% than Bank A

However the MRTA is different by both banks. bank A asking for RM30k (35+4 years for construction period) whereas bank B asking RM17k (35 years). in the end both installment virtually same amount

why 2 vastly different MRTA amounts? which should i choose and why?

Guys I have a question on Hong Leong bank loan

Loan amount 500k
Interest 3.65%
CAPPING AT 70%
Full flexi (tag with current account)

The capping 70% is on loan amount or our amount in current account? Example :

Scenario 1:
I dump in 100k, 70k entitle to save 3.65% interest and 30k is zero saving.

Scenario 2:
70% of loan 500k is 350k.
Today I dump in 360k, 350k entitle to save interest of 3.65%, and 10k is zero saving

I see. Thanks. This cause me to worry because just now Maybank Banker called me, he said he had many years banking experience and previously was from hong leong, he asked me to take maybank loan because he told me the capping works like scenario 1. Then again I called to hong leong banker but she said it works like scenario 2..but this hong leong banker very new, thus I'm finding evidence and also ask around

Maybe u could ask your banker to give u a soft copy of LO because I just got mine.
I just got the housing loan approval.

Maybank
Loan Amount 500k
35Years
3.9

Not sure whether this is a good deal,
however I got plenty of time to consider because the banker told me the due date for the offer letter will be extended because of MCO.

what's the difference between semi and full flexi loan?

thanks for the explanation 

how do you guys reduce interest? my banker says just transfer more to the loan acc.

i read somewhere that i gotta put cash in current account. 

Wow that’s very helpful!! Thanks a lot sifu!

Guys seriously I have a  complicated question on HLB loan, it is about the capping 70% issue.
Let say my loan is 100k, I chose full flexi thus attached with current account. Ok here is the question,

If I have 100k in my current account, meaning that my 70k will help me to save interest but 30k serve no purpose right? My banker called me, he told me the 30k I can pay off principal to reduce my outstanding amount to 70k so i can fully enjoy the savings in interest.

However, I read the terms and conditions in the letter offer, it stated that the 70% capping is applied to the OUTSTANDING BALANCE but not LOAN AMOUNT, isn't that the 70% of the loan become 49k (70% of 70k) ? So the 30% of the outstanding amount is 21k still chargeable for interest. Correct?

Any sifus know the answer for this? Because the banker claimed that I can enjoy 0 interest while I arrange 70k in current account and 30k to pay off principal.

Really a very tricky question as I already asked many times and checked many times. Seriously i also confused

How fast the bank will adjust the rate following OPR reduction announcement yesterday?

This morning the banker told me my loan has been approved with rate of 3.55%

Hi All sifu,

My loan just approve today from PBB and they offer 3.65%
The officer mention BR is 3.02 + 0.63 and when next week PBB announce the reduction it will be done to 3.15%

Is this a good deal ? He explain that the spread rate is lower from PBB compare to others bank and PBB had maintain BR at 3.02 for quite sometime.

Recently got loan approved at a good rate (spread .27).
Applied 15k for 33 years MRTA on this loan to get that rate, funded into the loan, as advised by the officer. By default, MRTA not compulsory.

Insurance provider requested us to do medical check up and if I didn't revert before 90 days, the application is not considered taken up.

My question is:
What is the consequence if medical check-up failed? The 15k loan cancelled and we will pay lower monthly installment? Or still pay the same?

is it just me or it's a little too high? 🤔 later when BNM increase OPR back to, say 3.25%, then your rate will go up to 4.55% though...

My friend who's working at MBB as relationship manager said the rate is okay
but I don't know because I'm not in the finance industry and this is my first housing loan. 
umm.. I wouldn't use the word "too high".. it's just simple maths.

You're right on the rate will go up when the OPR back to the average of around 3.00 to 3.25 based on the OPR history in the previous 5 years.
Let's assume if someone secured his/her loan at 4.15% last year when the OPR was 3.00,
so if the OPR is back to 3.25, mine would probably be 4.55% and his/her would be 4.40%.

At the end of the day, the 0.15% is only RM20k difference based on my loan amount over the loan terms of 35years.
And that is the case of assuming the interest rate of the loan is fixed at 4.55 & 4.40 since the beginning,
hence the difference could be lesser or more but yea, the difference is not giving me the impression of "tooooo high". 

Back to what I really concern, is the recent OPR cut good or bad for the current loan offer I got? 

Is this a good time to start my loan payment now? I have a house loan which is underconstruction.

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?

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

370k

I did ask my sister. She didn't cancel, but the application reappears in CCRIS a day after with an additional 001 at the back. Tried asking agent, agent didn't provide any feedback.

my sis is having a second thought because of COVID 19. If loan rejected, she can get back 3% deposit. it's bittersweet either approved or rejected for her. 

May i know what is the housing interest rate for Maybank for loan around rm500k. Is it maybank rate is better than others?

Yes, 3.2% is a good rate. May I know which bank could offer around 3.2%?

Wondering how could it be 3.1%, Maybank current BR is 2.0% and their spread is usually 1.30-1.40%.

Just got 500k loan ++ approved from Maybank, my client's getting rate at 3.40%

Hi all, would like to get some unbiased advices from sifus here before going to banker. This is our first home buying, 0 experiences in dealing with loan application.

SPA - 722,000
After rebate - 622,508
Completion date - year 2023 Q2

Borrowers background -
- Couple, want to get joint mortgage
- both working overseas, paying income tax overseas (have solid payslip and income tax statement)
- total gross income for both RM21k, direct T/T every month to Mbb from overseas
- with good credit card record, savings around 250k
- the only loan at the moment: PTPTN
- Will have extra income every month (bonus, stock market)

Questions are:
- malaysian working abroad able to get loan?
- Able to get 90% margin?
- Semi or full flexi? Which bank is prefered?
- My preference: to commit more every month by depositing into linked savings/current account to reduce the principal amount (thus the interest), and being able to withdraw out anytime in case of emergency/investment.

Thank you in adv who able to help with my doubts

Loan amount near 800k, 3.35% for 35 years, good deal?

Hi my SA adviced me to submit loan application to 3 banks and recommended mbb cimb and ambank. Can I actually apply more than 3 to compare the interest rates?

Hi Keith, thanks for taking your time to reply me.

But for my case, due to the moratorium it seems that the interest amount is piling up onto the total outstanding amount, will it affect me in any way? Since the supposed interest amount was not deducted from my account during the 6-months moratorium.