Has anyone tried http://loanstreet.com.my? It's a relatively new website for everything loan related in Malaysia. Can compare loans from every bank in Malaysia down to the interest rate you will get for the chosen package. Different loan amount/options results different interest rates Can even continue to apply through the website.

It really useful

Even though there are options to compare hire purchase loans on the website, currently only housing / home loans work though.

This post has been edited by METALRAGE: Jul 30 2012, 05:41 PM

http://loanstreet.com.my is just about a month old now

This post has been edited by METALRAGE: Aug 13 2012, 11:14 AM

Hi Lucerne. Sorry for being slow in reply. I log into Lowyat periodically.

At the moment, from what I know, Al-Rajhi offers true Zero Entry Cost packages. Do be aware that their BFR rates are 6.9% as opposed to other commercial banks at 6.6%.

Do use our wizard at Loanstreet.com.my to find out the best home loan and ZEC package for your loan preference.

Also, we'll be adding a very intuitive calculator soon on our website. Stay tuned

It isn't certain. It totally depends on the package you selected. Things like Loan Amount, completed property or not can affect the outcome.

Al-Rajhi can even offer up to BFR - 2.7% even for their ZEC package, but certain loan criteria must be met.

The best way really is to use the comparison tool at Loanstreet.com.my to find out, then proceed to apply via the website.

This post has been edited by METALRAGE: Aug 29 2012, 02:55 AM

Loanstreet has added a new calculator. It's the most complete and user friendly one out there yet. (Screenshots below)

And just in case you're wondering, here's a quick 0:43 sec video:







This post has been edited by METALRAGE: Oct 4 2012, 06:54 PM

Max, for most first time buyers, there are chiefly 2 things that they should be aware of:
1) The entire process of acquiring your property, including legal process and loan approval
2) How much cash will it cost you to acquire your property, E.g. MRTA, Stamp duty, legal fees, MoT, titles
The 2 links below will answer the basics of these questions.

Guide for First Time Property Buyer
Entry Costs of Buying a property

There are also other detailed write ups available on the net for every aspect involved in getting your property and mortgage loan. But you should at least know the above before you proceed.

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Added on October 17, 2012, 6:56 pmHave you not already submitted a copy of SPA to the bank?

This post has been edited by METALRAGE: Oct 17 2012, 06:56 PM

If you don't mind, what are the details of your loan? We'll crunch it to see where the discrepancy lies

1) Does your contract state 15 years, or 180 months? (Or is it 188 months?)
2) Any instalment holidays from this bank? (Some banks practice this)
3) Any tiered interest for the duration of the loan? (1st year x interest 3rd year y interest 5th year onwards z interest)

You could ask the bank why there is a discrepancy. But in any case, the good news is that this discrepancy is in your favor

Faizal, so what are your findings like? It is intriguing.

Did they explain how they arrived at RM1,305?

LOL. That's to your advantage so it's all good. But i'm certain there is a reason behind it and I am definitely curious to learn more about it.

It's like car loan and personal loan settlements where people tend to think it's arbitrary way of calculating the rebates. But the rebate calculations are precise down to a science. And its this science behind your calculations that piqued my interest

If you ever learn the sorcery behind it, do share ya?

Link to full article - Will BLR in Malaysia increase or decrease?

Explains what causes BLR movements.