You'll be basically just serving the bank interest only for the first 5 years. Thereafter you'll serve the remaining Loan as normal installment.

Such package is good if you got limited cash flow to repay the monthly installment initially but bear in mind your principle loan amount won't be reduced in these 5 years and would mean bank will still earning the same amount of interest without any reduction since no repayment is made towards your initial principle amount.

It's always best to pick the normal home loan method as it'll tell you if you can afford that property or not without incurring too much interest paid to the bank.

Cheers

It is actually a life insurance, but it is packaged so that it complements your mortgage (a liability).

It covers death and disability (even then, please check the quotation for the actual coverage). If you take it with the bank (yes, you can take MRTA from outside insurance companies, but it will not be financed), you will have the policy absolute-assigned to the bank, which mean the bank will own it despite you paying for it.

To reitterate, it is a life insurance, with the person covered being the person who undertook the mortgage (although this can be adjeusted, 50:50 if joint, 100:0 if you know only one person will be paying for the mortgage, etc.), but packaged for the purpose to cover the banks' losses in the event wheret he customer passes away or have disability thus unable to continue paying for the loan - thus avoiding Non-performing Loan (NPL) status by the bank.

All the banks above allows you to make full 100% prepayment.

Yeap, you are referring to this right? https://www.cimbbank.com.my/en/personal/pro.../homeflexi.html

You woul dlike to know the flexi charge/limit (if any) of all the other banks. CIMB was among the first to introduce it into the market and the market was furious because people felt like CIMB changed the terms after the contract was signed (they had the legal right to do so, but not the moral right I think). I gave it a shot and looked for the info on MBB at least, but there hasn't been any clause on the flexi limit or chargable fees if you dump in a certain amount of moeny into your loan account.

Best resources would be the bank's own site, but like I said, I haven't come across any other than CIMB's. Maybe others can chip in?

I would like to ask, are all bank's full-flexi, semi-flexi home loans that allows one to pay more in advance in order to reduce interest has a capping that we can pay?

I've checked that HLBB  has 30% (semi-flexi) and 70% (flexi).  and Citi is 70%.

Is it worth going full-flexi although we may not need it, in order to get a higher capping?

Maybank, Hongleond don't have full flexi... thts according to then

I just applied for my first house loan, my first offer that I got is from cimb and the interest is 4.75 for a 480k house loan. I feel like the interest is quite high? The banker told me that's it's because my ccris is quite new since I just came back from overseas  10 month ago and started working shortly after that, is that reasonable? I'm still waiting for another offer from rhb which i hope the rate will be lower.

Thank you

Further to the above, I have been offered as below, kindly advise which is better:

Planning to settle my loan in 30 years.

HLB - 30 years
1st 2 Years: BR/IBR + 0.37% = 4.40%
Thereafter: BR/IBR + 0.52% = 4.55%

RHB -35 years
3.9% (ELR) + 0.7% (BR)  = 4.6%

Which should I go? Will HLB rate will be higher than RHB in the future?

which bank? loan 550k can get? haha.. pls share the contact. thanks!

KWSP website have the full info on the withdrawal. What info you are looking specifically?

is it a must / default to get credit card when apply for mortgage loan? The banker no tell me about the credit card application but now i received sms my credit card approved. It is RHB bank.

can we negotiate to get lower interest rate than being offered? if yes what are the criteria of negotiation. Pls share example: create FD acc