12 months

May I know your loan amount?

Depends with bank it's actually consider not bad already. If ambank should be able appeal lower rate I had done few cases in this loan amount able get as low as 4.35

May I know from which bank offer this rate ?

Depends with bank it's actually consider not bad already. If ambank should be able appeal lower rate I had done few cases in this loan amount able get as low as 4.35

Most bank's semi-flexi account has not monthly commitment fees, so you can go for any of them. They do have withdrawal fees though each time you need to withdraw the deposited capital repayment (Im not referring to advance payments which usually cannot be withdrawn).

For full-flexi accounts that come with savings and debit/check-book, the monthly fee ranges from RM10 to 25 last I checked, depending on the banks. RHB has no fees so I am told.

pbb they compulsory need to bundle with mrta in their loan package right? withdrawal fees actually maybank also same rm50. maybe can try ambank their rate is quite competitive recently and their withdrawal fees is only RM10, or rhb for their full flexi since there's no monthly charge and setup fees.

0.1% difference only attributes to RM100 per year per RM100,000 outstanding. IN the first year, you would be paying RM351 extra to the bank in the form of interests, this figure goes down as your outstanding goes down.

Now with MRTA you would need to finance it into the loan, and it would be expensive if you are older. Your alternative would be:

1. No insurane

2. Short, 5 year  MRTA (basically no insurance)

3. MLTA

MLTA coverage is fixed; agents love to paddle the fact that MLTA has a cash back, true, but it will affect your cashflow since the monthly premiums are usually higher than the MRTA monthly repayment costs when included into the loan

hmm.. why interest rate seem high for me, if 4.5 with mrta is public bank the rate they should able appeal to slightly lower maybe 4.45. have you request your banker to appeal rate for you?

Hello everyone,

I received a loan approval from MBB and according to banker it's MaxiHome (conventional flexi loan) and I can always put in extra money to save interest and withdraw them with a withdrawal fee of RM 25. The maximum amount to put in is up to 99% of the loan amount. According to him, this is not Maxi-Flexi as this loan product does not require me to open a current account which requires a monthly fee. However, I can't find any MBB product with this benefits through the internet. I'm just worried that there is any hidden clause that he is not telling me as this sounds too good to be true.

Any help is much appreciated!! Thanks!!

Ok thanks! I'm just very curious if the loan product he offers me is legit. There is no way I can find it and no brochure etc. he told me now all loans are flexi just that conventional loan I can directly withdraw from maybank2u.

I have this loan. It's legit.

Can pay as much as you want. Reduce interest. Withdrawal is RM25 charge, in RM1000 repeats

My current loan - yes, interest rate is horrible (taken 2006). Anyone wants to offer for refinance? 

[attachmentid=4651608]

When you click 'Advance Payment Withdraw'

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Old BLR + 0.1%

I've tried refinancing once in 2011. It got stuck at MOT as the developer refused to transfer strata title as I was not using their panel law firm or something. Bank's lawyer wanted to do it themselves. And I think my lawyer had no backbone when dealing with this issue. I'm stuck somewhere.

Anyhoo I decided to pay off the loan and then get the title transferred and if needed, refinance from there (cleaner transaction). Balance is only about 20% left, take the extra 2.2% sting/year (it's not that much anyway - tiny apartment).

Btw I dont know how to ask for rate revision  .

Looking at 2 loan options here:

1) Ambank (4.45%, 90%, 35years ) - Full Flexi: No withdrawal fee. Setup Fee RM 100. Monthly Charges RM10 (Waived if loan current account has RM 1000 access money).

2) Public Bank (4.40%, 90%, 35years ) - Semi Flexi - Withdrawal fee RM 50. No setup fee. Minimum withdrawal amount is RM 5000.

3) Public Bank (4.40%, 90%, 35years ) - Full Flexi - No withdrawal fee. Setup fee RM 200. Monthly Charges RM 10.
Only 50% of the access Money will be reduced from the loan amount. 
I like the Public Bank rate, but their full flexi is not that attractive. My idea is to channel both mine and my wife's salary to the current account every month to reduce the overall loan amount(since interest is calculated daily). We will eventually transfer our salary from the current account whenever we want to use it.

Do advice if my salary transferring idea using full flexi loan seems flawed. Also do advice if got any other bank which can offer more attractive packages.

Because im planning to put our salary into the bank as excess money to reduce our interest. So i will definitely withdraw quite often. Option 2 will charge me RM 50 every time i withdraw. So full flexi would be better.

That sounds good. But my loan got rejected by them. Reason, I never had any other loan / credit card before. Record too clean. 

By the way whats their rate now?

Edit: Any RHB guys here, do contact me if you think can get me a good package. Thank you.

Checked the M2U saver... it give 2.25% interest. But putting the money as excess amount for the loan will reduce interest of 4.45%.

Just keep a few k monthly expenses fund into a separate interest bearing CASA to minimize the frequency of costly redraw from the loan account

anyone know difference of islamic loan vs normal?

One question to ask

under either full flexi or semi flexi loan, is it no difference in term of interest charges between:

1) Advanced payment thus the loan outstanding reduced
2) Park the money under CASA for interest reducing purpose

coz from what i understood. let say if i pay RM2k for the loan, it will reduce the outstanding balance hence the interest charge will be reduced.
OR if i put 2k under the CASA, the interest charge will be reduce/offset by 2k amount.

am i right ?
if yes, as a conclusion. it's better to park money under CASA than make advanced payment due to liquidity purpose ?

please enlighten me
Thanks

For 2,
Coz for semi-flexi we will open an savings acc for the loan, and the money put in the savings will automatically offset the interest in daily basis. is n't it that way ? or any technical term i should use for that particular savings acc.

Anyone has Excel spreadsheet to calculate bank loan interest? I would like to know how much savings I benefit from putting in my $$ as advance payment or rather reduce the principal.