Semi Flexi

semi flexi package typically has these features:
1) required to contact bank to indicate extra payment made as early settlement of advance payment
2) if you fail to indicate, you will be charged 1% (some banks do this afaik)

You can always use extra money for capital repayment and yes, you are required to inform bank for excess payment for capital repayment

You'll need to do that over the counter and inform the teller

Hi Lifebalance! Yeah u almost get my age right. I'm 37 years.

RM900k max that's a lot actually. I thought I won't able to get any loan due to my current housing loan commitment.

Actually my main concern is I afraid I couldn't get a housing loan (fr family stay) due to I'm tight up with my current housing loan as mentioned, but I'm greedy that not to sell / rent out this property (soho) right now because I'm currently staying in it.

That's why I'm thinking to get a new house loan ( the current soho too small for me ) and move to the new house only I rent out / sell.

Need to keep min rm 1k

If you applied for MBB semi-flexi no issue, just that the full flexi facility will have fluctuating monthly installment.

I got 4.3% rate Maybank Full Flexi Loan, with complicated terms. No MRTA/MLTA is required.

Meanwhile I got RHB MY1 Full Flexi Loan, with the same rate but mandatory RM30K MRTA.

Help me choose 

Logically speaking I should go with MBB. But I don't know the catch.

Preferred Maybank, I don't want CLTA/MRTA/MLTA. But as previously discussed, i do not understand Maxihome Full Flexi. Will I end up paying more? For 600K loan for example, how do I calculate my monthly? etc.
1. 24 years, CLTA
2. Maxihome Flexi

From cari..not sure if he frequents ly not

pretty unfortunate..we don't buy house all the time so we're surprised on how 'helpful' loan agents can be 😤

Dear sifus need u guys feedback..applying joint home loan of 800k (90pct loan)

Got below offers but still scratching my head wat the BR + fixed rate indicates for each bank

Hong Leong 4.4 >> Br3.69+0.719
Maybank 4.3 >> BR 3.0+1.3
RHB 4.4 >> BR 3.65+0.75
CIMB 4.35 >> BR 3.9+0.45

All semi flexible loan. Maybank , cimb and Rhb MRTA/MLTA not compulsory.

Apply via loan agent found online..can't say it's a very good experience...

anyway long story short maybank banker told (that's what loan agent said) need sign within 2 days of offer else rate will reverse..not sure if got such rules. I thought offer letter got a period of validity like bout 5-10 work days to sign the offer letter..abit lansi from the tone they might say rate will go up after 2 days. I got the softcopy doc yesterday 10pm after keep asking agent.

RHB banker said will try to appeal for better rate tomorrow. Pls share if any experience of either of above bank..any issues with $$ disbursement.

Sorry for long post :s
Abit frustrated with loan agent..slow and seems to take preference of some bank.other banks only successfully submitted on end of week 2 after we gave full document required

Bank offers BR (base rate) plus spread rate (not fixed rate)

BR is a rate used by banks with reference to bank negara's OPR (overnight policy rate). But each bank has its own bank book to balance, hence diffferent banks has different bank rates. In broad sense, bank rate can be explained as bank's cost of fund to offer you this loan plus some bank profits.

The spread (+0.71, +0.4 etc etc) is the additional profit the bank wants to make out of this loan deal. As you see, banks try to be competitive, so the rates are 4.x across all banks

Bank would only start to make profit provided you serve more than 28 months of repayment. Therefore there is additional 3 years lock in imposed.

Correct explanation should be:

Maybank full flexi loan mandate you to pay more. Unlike other banks' flexi or semi flexi package where u can pay  extra as u wish.

The advantage of doing so is in future when your outstanding reduces, your interest reduces as well. And you can actually lower your monthly installment.

So that is the biggest difference.

My advice to you is accept the semi flexi loan from Maybank. You can redraw(or withdraw) money directly from m2u portal directly to your saving without visiting branch or write in