Maybank HomeEquity-i
Features & Benefits

Based on the principle of Musharakah Mutanaqisah (diminishing partnership via leasing)
No compounding of profit and other charges
No early settlement charge/ lock-in period penalty
Competitive financing rates and margin of financing
Lower monthly instalment with the longer payment period of up to 35 years or until the age of 70, whichever comes first
Higher financing eligibility of up to 70% of your gross income*
Higher financing margin of up to 100% of the value of the house (including capitalisation of related expenses such as MRTT contribution)
MRTT coverage, which settles your outstanding mortgage and transfers the title deed to your family in the event of death or total and permanent disability
20% reduction on stamp duty for new financing & waiver of conversion from Conventional facility
Convenient payment options of your instalment via Maybank and Maybank Islamic branches, ATMs, Kawanku Phone Banking, and online via Maybank2u.com
Minimal documentation compared to other home financing plans

Basic Details:
Financial Type: Maybank Islamic Loan
Interest Rate: 4.55%
Tenture: 20 years
Loan Amount:260,000


Above details is my home loan plan and the benefits I grab it from Maybank website. A few queries to clarify here, hope some professional banker can help to answer:

1. From the benefits it stated that no early settlement charge/ lock-in period penalty, this is also what my banker told me when I was applying the loan. Just curios, I got a saving account which is tie to the loan, which mean every month the monthly installment will be deducted from the saving account lets said RM 1700. If I want to pay extra how should I do that? Can it be like bank transfer or have to go down to the Maybank to do it?

2. My loan package include the MRTT total around RM4000, lets said if I pay up my loan within 10 years, will this MRTT able to get some refund? Heard some home insurance was able to do so.

3. 20% reduction on stamp duty, where can I check do I entitled to this benefit? This was my first time applying home loan.

ya this is my first time buying house, so I will have the 50% discount + 20%? It is possible to waive the mrtt? When can I request to do so?

Actually my loan already disbursed and I got the house key already, but my solicitor still havent pass me my loan agreement, she said the title is still in land office? Is this normal?

Would like to check usually how long to complete the loan agreement document process. Currently, bank has already disbursed the loan to developer. I also collected the key from developer, just that I yet to collect my loan agreement contract. I do approached my solicitor as she said that the title still at land office, so wait. But it is about 1 month already, has anyone got the same experienced as me?

Thanks for your explanation, actually what I want just an explanation. I am not trying to chase my solicitor, but she can just explains to me usually it takes about 30-40 days or even longer to process but not just replied me still waiting and afterward ignore my message for few weeks. In that cases, I would think is it any problem causing the delay. Also, I worrying will bank charging me penalty cost because of late. Since they already disbursed the loan but loan agreement still haven't yet completed.

Really thanks for your explanation.