Hi my house loan is with PBB so I received a yearly paper statement, however, now I seen in the statement that the amount that I paid monthly to the loan account is regarded as payment partial. Is that normal?

I am pretty sure that is the amount that I should pay according to previous visit and talk to the banker.

Please if someone can advise further. Thanks

This post has been edited by eeeglow24: Jan 22 2018, 06:48 PM

Sorry it appears as Payment Partial for Month XX. I have contacted them today. From what I understand, I paid according to the right amount given by the banker in our previous meeting. So if there is any changes I should be notified right?

Alright thank you. That's a relief. I mean a mortgage is a big commitment. If I paid less then it will be much problem.

Thanks ya.

Hi I need advise on my house loan.

Expected to end in November 2029.

Tenure since 2004.

So before this, there has been default in payment causing the interest rate to increase to

BLR + 2.25

Then, I have maintained good 6 month payment and the rate has been back to

BLR + 1.25

so, recently I submitted an interest reduction form and it got approved and my interest now changed to

BLR - 1.00

For me this is a bargain and very good news as it is far better than the stipulated interest rate based on SnP.

In SnP, for 4 years and above, the rate would be

BLR +0.25

So I signed the form and submitted few days ago and the banker called just now saying that there is another clause that I need to sign which says that I will have a five-year lock in period due to this reduction.

My questions are:-

1. Is it normal for bank to have this lock in introduced although I have signed the interest reduction letter few days ago? In fact, I was not told of this lock in period when I first request the reduction.
2. How will this reduction affect my outstanding balance amount? Will it just reduce the amount paid towards my interest from my monthly payment?
Or will it reduce my outstanding balance?

Hopefully someone can vouch me on this queries.

Thank you.

I’m with PBB too, due on 19th but so far no letter arrived for the revision of new instalment amount.