But once u reduce the principal, then the new facility limit will be lower and you need to withdraw some cash to maintain 70% in order to avoid the RM40 charges. Eg

Principal 100k, cash 30k, net loan =70k, no charge.

1) If now you have additional extra cash say 10k. If you bank into the account, then net loan is 60k and only 60% utilisation and hence RM40 charge applied.

2) If instead you reduce the facility from 100k to 90k, then the new limit will be 63k (70%*90k) and not 70k anymore. In this case, your max cash balance left in the account is 27k (90k-63k) only. Hence, u need to withdraw 3k in order to reduce your cash balance from 30k to 27k in order to maintain the 70% and no charge.

Either way you can't escape.

When is the starting date they are implementing this?

But once u reduce the principal, then the new facility limit will be lower and you need to withdraw some cash to maintain 70% in order to avoid the RM40 charges. Eg

Principal 100k, cash 30k, net loan =70k, no charge.

1) If now you have additional extra cash say 10k. If you bank into the account, then net loan is 60k and only 60% utilisation and hence RM40 charge applied.

2) If instead you reduce the facility from 100k to 90k, then the new limit will be 63k (70%*90k) and not 70k anymore. In this case, your max cash balance left in the account is 27k (90k-63k) only. Hence, u need to withdraw 3k in order to reduce your cash balance from 30k to 27k in order to maintain the 70% and no charge.

Either way you can't escape.

Is it RM10 to RM40, or RM10 + RM40? total RM50?

ya. misleading ppl. i will write to them also and bNM.
I already terminated few cc with this C bank. Very bad service. bad time squeeze ppl.

bank in more lo. 10k+3K

You may refer to the gollowing url:
http://www.bnm.gov.my/?ch=en_complaint_redress

You may write to bnmtelelink@bnm.gov.my and the complaint unit of the bank.

Boss isit useful??? I ll help u guys to forward a luv letter to bnm as well.

Anw tis bank nothin gd la. The cc they gave me onli gd for me to hav kopi nia. The rest all cow dung. The reward points dun really get me athg. Mostly rubbish.

I used to wrote a complaint letter to a bank cc BNM but before BNM stepped in the issue already resolved. So not tested whether useful or not.  But in this incident I think CIMB may lose its case to impose such condition on the existing loans.

This bank residential loan nothing attractive but its recently launched commercial loan quite attractive.

I hav dealt with few banks with help.from bnm and luckily all cases favor me. I assume bnm can giv full assistance if we hav a solid reason to go against the bank. Especially charges part.

Btw garfield boss Wats the rate for the cimb latest commi loan??? Can get below 4.35???

When there is dispute btw a individual and a bank normally BNM tends to side the person so ling as there is valid reason as you mentioned.

What I got is semi-flexi 85% MOF 30 years at 4.55% - Wa boss you got 4.35% kah?  Geng!

Btw, how's your rojak biz?

Haha boss rojak biz so so la. Lucky me no charge gst 6% like banks so stil sustainable

For.commi I onli gotten once @4.35%. The rest slightly higher but I guess cimb @4.55% is a bit on the high side le. Maybe can try appeal. Anw I siam cimb liao. The service is no even near bad. It's bout the worst I hav encountered.

I have received the same notice last week. Hv written to them and made a complain to BNM as well.

Perhaps more people should complain to BNM, to preserve our right as a consumer. If we do nothing, they may increase the charges higher and higher, and other banks will follow suit.

This is ridiculous as if defeat the main purpose of the flexibility of this loan product.

I complaint to BNM two days ago. I just received the below email from them. To protect our consumers' right, hence, more people should complaint to BNM to pressure the bank to reverse their decision. This ridiculous bank charges or the minimum utilisation rate of 70%  is neither stated in our letter of offer nor the facility agreement. It means they do not pay any respect to the contracts they have signed with the borrowers in the first place, then what for we signed all the documentations, right??
from: BNM Telelink <bnmtelelink@bnm.gov.my>
to: "deleted"
date: 3 November 2015 at 11:02
subject: RE: Unreasonable bank charges
mailed-by: bnm.gov.my

Dear Sir,

We refer to your e-mail above.

We wish to inform you that we have escalated your complaint/appeal to our Complaint Management and Advisory Unit, for information and further action. If necessary, the unit will contact you.

Thank you.
BNMTELELINK
Bank Negara Malaysia
No Tel : 1-300-88-5465
No Faks : 03-21741515
Emel: bnmtelelink@bnm.gov.my

good!
please cc the bank too in your same email to bnm.
then expect cimb to call you ASAP.