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

Shall write in to complain, and cc Bank Negara.
If, let say CIMB 6 month later say the fee changed to RM400 per month, how?

This post has been edited by kinnasai: Nov 2 2015, 10:55 AM

Received call from cimb,
They offer to switch plan ~ smart flexi, no utilisation rate requirement, but charge on every withdrawal…… haha… asked them fly kite……
This CIMB is really bullying us…
We shall make it loud to let ppl know how CIMB work, let others see whether CIMB can be trusted or not……

Hm…… different need for u gua……
Imagine~ if u got a flexi loan 500k, and u got cash to dump into it. With tis, u do not need to pay interest for house any more, and u have the tool of OD for 500k, with only paying RM10 monthly, and this OD is only 4.4% interest, it is so useful. OD anytime and pay back anytime, low interest, only RM10.

I have been using hlb 5 years for flexi for another loan, it is so useful. But hlb din't offer me the best option this round, i tried octobank, aiks, kena pirate ship this round. NO MORE OCTOBANK!

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 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

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

Haha, this Aisi……

OD charge on that as per agreed when OD……
Flexi is not OD, but with similar OD facility, this is what briefed, and we chose to take…

Aisi shud suggest cimb go for 1% as per he said, make the issue big, make the problem explode, i wanna c how octobank attract new customer in future, with all the UNBELIEVABLE promises……

Aicy, u r rite.
Octobank may have huge legal team to support their rite,
Octobank may have all perfect clause in agreement to show they can charge~~
But,
Most of the borrowers have the perception, ONLY RM10 monthly for charge, AND we can offset loan interest as much as we wan or can put in.
Why? All the borrower too stupid to understand wat is flexi loan? Or all the banker too stupid to explain to borrower that bank can review charge anytime as needed? Or, octobank felt this is a losing money product, now they want to squeeze borrowers' to recover loss??
If we were told clearly abt these bla bla bla requirement, do u think we will still make choice on octobank? Aicyman, u are really SMART and GOOD as Octobank, your advice is so damn meaningful and helpful to all the octobank loan current taker, and future keen borrower!!!

This post has been edited by kinnasai: Nov 8 2015, 12:53 AM

Shall we write to media, like The Edge, etc?

Add the Web Picture, before they edit.... mark down their misleading statement....

This post has been edited by kinnasai: Nov 9 2015, 05:39 PM

Nasir and Zeti are good fren……
Haih…… leave the consumer being bullied and helpless……

I think most of us was not briefed by banker about any clause that octobank can impose additional, when they offeing us the loan, we has been mislead for signing. Regardless of what powerful hidden clause stated, but we r not briefed/told/explained and mislead by maybe unhonest/unprofessional/unethical banker to accept the loan offer.

Banker shall briefed us on the key point, this maintenance charge is definitely the key point for borrower to decide on the choice on the loan. We has been mislead and not briefed.

The problem is, we only making noise to octobank, bnm may only request octobank to act, and octbank make act as they planned onli… legal action or public/media annoucemrnt might be some only choices for us.

This post has been edited by kinnasai: Nov 10 2015, 12:56 PM

Haha, now CIMB wan Big Stone Press Die Crab....

I prefer not to use the word UNREASONABLE, will rather put UNACCEPTABLE.
Regardless of what reason, we are not supposed to pay additional fee (even 10 cents with whatever bla bla bla reason), which we were not told and briefed when the loan offered, we had been mislead to sign if octobank insisted.

This post has been edited by kinnasai: Nov 12 2015, 11:34 AM

Bro, haha, you are overheated....

Letter to BNM
Dear BNM,

I recently received a letter from CIMB to impose a RM40/month charges due to loan utilization rate regarding the Home Flexi Loan that I had signed in 2014. The letter from CIMB and Letter of Loan Agreement are attached for reference.

When I was offered with the Loan Facility by CIMB, was only briefed by CIMB banker that only RM10/month charges for the mentioned flexi account, and stated in the loan contract as per attached, and also told by banker that we can deposit into the flexi account as much as we can to enjoy the minimum or zero interest (with partial or full amount deposit without earlier settlement).

HOWEVER, I was neither briefed by CIMB banker and any CIMB officer, nor stated in the Loan Agreement, there maybe or will be any charges of RM40 (or other amount) to be imposed when needed. I accepted and signed the letter offer based on such understanding.

With the recent RM40/monthly imposed by CIMB, I felt like I has been mislead for the loan acceptance. I also felt like as a consumer/borrower, we are unprotected as CIMB can anytime increase or impose additional charges while CIMB thinks it's necessary.

At this moment of time, we are not longer able to get similar offer from other financial bodies as previous offered, and also not able to enjoy developer's free loan agreement disbursement and legal fee, and make me have no alternative but to face CIMB‘s bully. I signed and accepted CIMB's offer based on CIMB's brief and promises, but I felt like CIMB's promises cannot be trusted and being mislead.

Complaint had been made to CIMB resolution unit before this email and acknowledged by CIMB (as per previous email), but yet to be resolved. Appreciate if Bank Negara Malaysia can take necessary action to protect us as consumers. We are very disappointed by CIMB and felt helpless with CIMB's new measure.

Thanks & Regards,


Letter to CIMB

Dear Sir,

Reference:
Account No: xxxx
CIMB reference : xxxx
Letter reference: xxxx

Refer to your letter dated 22/10/15, you mentioned that the above account will be charged RM40 monthly if Utilisation rate less than 70%, which is UNACCEPTABLE by me as borrower.

During your offer for the mentioned facility loan, I was not informed that by your sales agent neither any of your bank officer about the RM40 charge will be imposed for utilisation rate requirement. I was only briefed that we can put in as much as we can into the Flexi account to enjoy the minimum loan interest. Somehow, I felt like cheated.

Nevertheless, monthly flexi charge of RM40 or the required minimum Utilisation Rate is neither stated in the letter of offer or the facility agreement. This is really unfair to us as borrower, and I felt unprotected as CIMB can/will anytime imposed new charge due to CIMB's need. I am having sleepless night since then, as I do not know when CIMB will impose or increase charges again.... and how much will it be...

Due to the new requirement imposed, I have lost confidence on CIMB's services and promises. Please review your requirement.

Thanks & Regards,

This post has been edited by kinnasai: Nov 12 2015, 12:45 PM

Banking share has been given up by foreign holder these months, especially CIMB bank, think CIMB is not really working well.

Nevertheless, i believed most of the loan taker has been told the flexi loan is only charged by RM10 monthly and intesrest can be offsett as much as we can, NO RM40 will be imposed, we sign based on such understanding. Banker is obligted to brief fully the borrower to ensure and undestand, and i don't think banker was awared too. Means we might be mislead and cheated to accept, and Octobank intended to mislead and cheat the consumer……

This post has been edited by kinnasai: Nov 13 2015, 09:14 AM

Bank generate fund available base on saving, FD, current acc and bla bla, by factoring it. In conceptual, lower factor for saving acc fund, higher factor for FD as it more stable and low risk for fund fluctuation, as FD has the dateline for withdrawal. Imagine, our flexi loan effective rate is 4.5%, FD is on 3.5~4.2% per annum, and flexi has no lock-in period for interest offset. Banker has underestimated consumer behaviour, they may thought flexi facility gimmick to attract consumer, and consumer may still not able to deposit huge fund into it.

BUT, we signed flexi based on what agreed and understand, cannot agree on even 10 cents, which add on imposed, or else what is BNM or banking system reputation. Banking system cannot be trusted, how??? Only for boleh-land……

This post has been edited by kinnasai: Nov 13 2015, 09:41 AM

CIMB called again, at this point of time, regardless or all complaints submitted, RM40 new requirement will be remained !!!
How can we make it further to protect us ???