Interest is calculated on.daily basis. If u trans all ur money into the loan account then it will reduce the outstanding

one of my properties is under maybank full flexi non islamic
so far did not receive such notice

My agent told me that I will paying a monthly fixed principal amount and my monthly instalment will increase another RM500 But it will gradually reduce over the years after the principal amount reduced.

But the advantage is it will reduce the total interest paid at the end of the tenure.

Can banks change the plan for what we have signed with them previously just like that?

Monthly instalment increased by another RM500?!
While I don't know what your actual situation is but one thing for sure that doesn't seem to be reasonable no matter how tight of the terms in the letter of offer / facility agreement is. Check with the bank and if there is no reasonable explanation write a letter to BNM.

Thanks for the advice. I am still waiting for their official letter for this, but RM500 additional per month is ridiculous

Why it sound like they are pushing MLTA to you

not MLTA, but sound more like MRTA - reducing monthly repayment

Do you hear anything about MBB changing their full flexi (MaxiHome) repayment schedule to be (a+b=c), where:
a. Monthly loan principal repayment - fixed amount
b. Monthly interest servicing amount - yearly reducing amount
c. Total monthly repayment amount - yearly reducing amount

The 1st year repayment is the highest and it will reduce over the years to a minimal amount at the last year of the loan tenure.

Hi, looking for advise for 650k loan (SPA 800k). Awaiiting news from RHB and Hong Leong (panel banks). May I know what is the market interest rate these days? Thanks.

Hmm so far all my maybank case just sign LO this few day without encounter this repayment schedule.. That's so weird, gonna double confirm with officer tmr and see what they reply.

for this loan amount lowest should be 4.35 but still it's still depends on customer profile grading ya.

One question please.

This is called Grace Profit for bank right? Does this interest pay to bank reduce the principal?
Or just mere interest earned by bank?

Is it easy to get My First House Scheme? to apply full loan and 0% downpayment...
Looking for newly developing/developed landed house in Selangor around 400k
http://www.srp.com.my/en/criteria.html

Grace profit? Never heard this terminology.
If payment is made merely to pay for the interest, e.g. during construction period (and assume no extra payment being made), then it will not reduce the loan principal. When you start paying the full loan instalment (i.e. after full loan disbursement) a portion of the payment will be used towards reducing the principal. At the early stage of loan repayments, a larger portion of the instalment is used to pay the interest leaving a small portion only for principal reduction.

Bank Base rate high or base rate low? Which is better?

Hi all, I would like to ask usually how long will a home loan top-up procedure take?

It should be shorter than a full home loan application or refinancing right?

Hi, I am keen to know too as I am facing same situation as urs.
May I know which 1 u choose finally pls?

Hi guys and girls, anyone of you took up MBB's Maxi Home Flexi?

According to the banker it is considered an OD account on a Current Account, so you will only have 1 personal current account with OD

just got an LO from them and it seems their repayment is a bit weird compared to other banks.

In the LO, it states that the principal amount repayment is the same for the entire tenure, say for example:

Sum borrowed = rm500,000
Tenure = 35 years
Principle Repayment = rm 1,190.5 x 420 months

Interest calculation monthly = rm500,000(outstanding balance) * 0.0445(4.45%) / 12 months = rm1,854.2

Proposed Monthly Repayment = rm 2,350.8
Principle + interest = rm3,044.7

However, if my calculations are correct, my monthly repayment for the first few years are significantly less that the principle + interest monthly?

Another thing I found in the LO is that there states there is a 1% commitment fee on unutilized portion of Overdraft facility?

What does this mean? Anybody can help shed some light on this?

Yes.. the LA disbursement fee & Stamp Duty.

Thank you

The 1% commitment fee is based on what portion of the OD you're not using eg you've available funds of Rm 100k, you'll be charged RM2.73 for that day or rm84.93 for the month.

means whatever amount I overpay, I will be charged 1% ?

As I understand, available funds = amount of prepayment in the OD account.