Thank yo Manu Boss for the suggestion... Shall look into this possibility for my next loan..

Jason taikor, charges based on utilization rate is not a product I presume, it is an additional charges that retard the original feature of the Full Flexi account.

Shall BNM approve such additional charges to existing customer? Housing loan is a long term tie between the customer and the bank. Imposing this charges gives no other alternatives for the consumer to avoid it, either interest or flexi charge.

If CIMB insists, BNM no action, we shall voice it to media…… c whether this Octo bank got any future customer anot……

Banker agent had given perception of only RM10 per month, and as consumer can offset as much possible to minimise the interest and enjoy the easy withdrawal, that's wat we briefed, regardless of what blab bla clause stated, we as consumer, NOT briefed…… Octobank's promises cannot be hold……

This post has been edited by kinnasai: Nov 7 2015, 11:54 AM

Not 300% increase. This is on top of the rm10 that that they are currently charging. Ridiculous!

Not even 10cents we can agree. As we agree, means we have no objection that octobank can impose any charge when needed anytime

This post has been edited by kinnasai: Nov 7 2015, 11:52 AM

Yeah definitely charges based on utilization rate is not a product but a feature of the product. For new product, banks have to write to BNM; for change of product features I presume the process shall be the same and no objection means consent.

My view is that, this revised charges shall apply only to new borrowings. I tend to believe BNM will side the borrowers based on my understanding.

This post has been edited by Jasoncat: Nov 7 2015, 11:54 AM

If this new charges apply to new loan account, then most of us is okay. Nevertheless, these charges applied to current existing customer.

If it is a same process, does it mean BNM already aware of it and approved it as well? Or they approve it without careful evaluation on the subsequent impact?

Unable to answer on BNM's behalf

What is BNM email address that manage this kind of complain? I wanna complain as well. We need to defend our rights.

Only those with strong mountain backing utilize less than 70%. One could made hundred of thousands profit with this facility, why need to complain rm480 p.a fee.

This post has been edited by icemanfx: Nov 7 2015, 03:24 PM

yes I ask her to show me which clause that allow them to do that AND black and white where BNM or authority has approved it. waiting for their reply

I think u missed the point, we are now discussing that if this is allowed, does this mean that in future, the bank can simply amend/add additional t&c which is in favour to them but it's a lost to clients?

we have no comment on how cimb bank is going to set their t&c to its new customers, but NOT the existing clients! Once this is tolerated, then more nightmares are coming

This post has been edited by hvaly87: Nov 7 2015, 03:29 PM

Here you go
bnmtelelink@bnm.gov.my

Aisi man is veteran in prop market n banking system. Just a side note. If he ever says yes v beta siam far far. Otw Aisi man ask u go eat oyster aka siham

Noted and thanks. Time to file my complain.

you working for the bank ka? seriously, you are way off the mark..

people want to complain let them be lah..

its their money after all...

Need politician+media to involve into this....

CIMB is so rich and mountainS backing, y dun ask octobank give us 480 monthly, y still ask for charge……

U are so clever leh, can find such a good reason…… pls help to advise octobank

This post has been edited by kinnasai: Nov 7 2015, 05:46 PM

Our principle will keep decrease from time to time and 70% utilisation rate is way too low. Think everyone will get affected very soon.

Maybe RM 480 p.a for you is a small matter. Imagine how many people is signing this loan from CIMB bank? How much money the bank is going to gain from this?
I don't really agree that they using this method to maximize their own profit, especially from existing customer.

This post has been edited by yeow928: Nov 7 2015, 05:45 PM

Bank could have charge more like 1% p.a on unutilized sum like o.d.