I think CIMB's customers will be receptive to the RM40 charge if the bank give a rebate of RM20 or at least waive the RM10 monthly fee should outstanding loan is > than 70% facility limit.

I don't think so. Why we need to accept additional restrictions/terms which are not stated in the letter of offer when the loan is granted? If you easily tolerate now, you are opening the door for the bank to squeeze us further.

Hence, it is big NO to me.

+1 .. Agree..

They can impose any extra charges on the new loan application and let the market force to determine its competitiveness, but please leave the condition of existing loan as it is. The bank should not exploit and victimize the existing customer due their new profit leveraging measures.

This post has been edited by samkps: Nov 3 2015, 03:27 PM

Important is write to BNM
CC to CIMB is not so important.
BNM will call CIMB for clarification.

Already wrote my complaint on this case.

Anyhow i saw letter from CIMB advising us to reduce facility limit, anyone knows what's the impact/what that means?

mortgage or company loan?

Useless.

Let say you have 100k loan, and you put in RM40k to offset the interest. Since the utilisation rate is less than 70%, RM 40 charges applied.

Let say you reduce the loan facility to RM 80k,

1.) The bank will take the RM 20k cash from your account to offset the loan, no more offsetting the interest. That's mean you lose your "flexibility" to withdraw this RM 20k anymore.

2.) After facility reduction, your loan now becomes RM 80k, the new 70% threshold will be set at RM 56k (70% x RM 80k). Now you will have RM 20k leftover cash only to offset the interest, and out of the RM 80k loan, this RM20k means your new utilization rate is 75%. You are "safe" temporary from being imposed the extra RM 40 charges. Nevertheless, to fulfill the requirement (>70% usage), you must not bank in more than RM4k into this account again, otherwise, the utilisation will again drop below 70%.

Thus, by reducing the facility is not a solution at all, because:

a.) You lose totally a portion of the excessive cash flexibility due to reduced loan amount.
b.) The new loan facility still appliacable to this stiupid 70% utilisation rate, means you still losing the flexibility to pump in more cash to offset the interest incur.

Total lost for the customer...

Right, so the so-called reduced facillity limit is to settle part of the loan la...cheh really bad deal then, that makes me lose mroe interest that I should entitle to.

Yeap, you spell it right.

Nice words from CIMB: Reduce facility limit

Actual words for commoner: Settle part of your loan

Those who signed up CIMB full flexi loan, let's complain it together to BNM. the more people complain , the more bank negara will take this matter seriously.

I already email to BNM to this email address bnmtelelink@bnm.gov.my . The people who handle my complain just call me. Not sure is there any outcome to this, but at least we acknowledge BMM about the unethical conduct by CIMB.

Guys, I've just made my complain and CC to CIMB. Refer below my email content. Feel free to copy.

==============
Dear Sir/Madam,

I recently received a letter from CIMB regarding the Flexi Loan Facility that I've taken few years back.

The letter stated that from 1st December 2015 onwards the back will impose a monthly of MYR40 for the flexi charges if our utilisation rate under the Flexi Loan facility falls below 70%.

I find the charges unreasonable and ridiculous. This is against the principal of "Flexi Loan" where it should allow us to have the full flexibility of early repayment to enjoy savings on interest charges with no limitation. There is already a monthly charge of MYR10 imposed by the bank for the full flexi loan and FYI, all these charges come with additional 6% GST!

I serioulsy hope BNM will take action and advice the bank to withdraw back the new charges imposed.

Copying CIMB,
Kindly help forward this email to Vipin Kumar Agrawal who signed the letter.

=====

I also received such unreasonable letter from CIMB, so damn piss that I called their customer care line, their reason merely that to avoid ppl taking the full Flexi HL, but paid substantially so no meat to eat, in addition, some took the loan just to escape being tracked by IRB.

some more like challenge me saying C bank already obtained BNM approval.

Bloody hell! I told them this is not stated in the LO and their officer when marketing this product saying full Flexi and deposit all you can. Cheating!

So I will surely write complaint letter to BNM.

No more CIMB for me.

yes agree, all lets complain together.

What other alternative is there if BNM doesn't do anything and let CIMB walk away with this?

Nice work guys, I've also sent a complaint to bnm

Let's put pressure on bnm to do something on this

i propose if we all dont have some good feedback, let's all do smoe calls to their call center, next week?

sent mine too. cc BNM.

lost trust with C bank.

I was just copied an email from BNM as follows. Look like we may need to wait for 14 days. See what happen next.


from: BNM Telelink <bnmtelelink@bnm.gov.my>
to: (deleted-CXXX bank email)
cc: (deleted-my email)
date: 3 November 2015
subject: Aduan terhadap CXXX Bank Berhad:
mailed-by: bnm.gov.my

Nombor Rujukan : (deleted)


Tuan / Puan,

Aduan terhadap CXXX Bank Berhad

Kami merujuk e-mel (deleted-my name) bertarikh 02 November 2015 berhubung perkara di atas.

Tuan/Puan dikehendaki mengambil tindakan berhubung isu-isu yang dibangkitkan oleh pengadu dan memberi maklum balas terus kepada pengadu berkenaan dalam tempoh dua minggu dari tarikh e-mel ini. Sila kemukakan sesalinan surat maklum balas tersebut kepada Bank Negara Malaysia untuk tindakan kami. Kami akan memberi maklum balas kepada pengadu, sekiranya perlu.

Sekian, terima kasih.


------------------------------------------------------------------------------------------------------------------------
Perkara ini dikendalikan oleh (deleted-BNM officer's name)
Unit Pengurusan Aduan dan Khidmat Nasihat, Laman Informasi Nasihat dan Khidmat (LINK)
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Sila layari www.bankinginfo.com.my atau lawati kios kami di kebanyakan cawangan institusi perbankan untuk mendapatkan maklumat am berkaitan produk dan perkhidmatan perbankan

CIMB low on cash d.. use dirty tricks