Share the T&C here.

I would like to see which bank is stupid enough to hide their fees on their t&c.

If i'm the bank i would state every penalty on the t&c so in future there will be no dispute.

Ya, let's translate this, maybe this worth immediate attention of public and central bank, which we all including BNM are being fooled by this T&c. In T&C, customer who early settle is entitled for a rebate, and the bank did not mention anything about penalty and eventually after the amount is generated, there is 18.5% huge "unknown fee'' silently charged to a genuine customer who wish to return back the money to the bank earlier.

10. Early Settlement. The Borrower may at any time effect early
settlement of the Facility in full by giving three (3) months’ prior
written notice to the Bank, or payment of three (3) months’ interest
on the amount redeemed, in lieu of notice. A rebate for early
settlement ("Rebate") on the remaining interest to be charged will
be granted to the Borrower over the unexpired period commencing
after the three (3) months’ notice period. The Rebate shall be
calculated in accordance with the following formula**:

R = (n-3) (n-2) x I where, N(N+1)

R Rebate (RM)
n Number of Monthly Instalments
over the unexpired period
N Loan Tenure
I Interest payable for the whole
Loan Tenure (RM)


An illustration of how the Rebate is calculated for a 60 month Loan
(5 years) with a principal amount of RM50,000 and interest rate of
12.5% per annum, but with early settlement after 20 months (where
early settlement notice is served on the Bank before the next Monthly
Instalment due date), is provided below:

N = 60
n = 60 - 20
I = 50,000 x 12.5/100 x 5 = 31,250
R = (40-3)(40-2) x 31,250 = RM12,000.78
60(60+1)

Note :
**The Rebate will be calculated based on the "Rule of 78" or "Sum
of Digits" whereby the method of calculation of the proportion of
principal and interest payable for the entire loan assumes that the
interest forms a larger percentage of the monthly instalments during
the early stage of the loan. The Borrower shall repay all Monthly
Instalments payable over the unexpired period subject to the Rebate

Unfortunately, if you have pay like half the loan tenure you would have already paid at least 70% of the total interest. That's why you would feel the principal settlement it's higher than what you would expect and it's not hidden charges as per what you claim.

Well, when I calculate the amount of my remaining principal money (minus out the interest), compare with the amount given by the bank using that formula, there's is a different of 18.5%, and It also means that I have to pay 18.5 months of interest blindly. And the "Rebate" formula varies among bank, which this bank is significantly higher.

How is ts doing now ? Settle everything by putting 10k to 29,7 and 28 ? Hope all well ends well

TS very hard lah, live so luxurious...
Just 200k+ p.a. can drive luxury conti car, wear 80k watch... Lol

Should tone down on the lifestyle expenses

rhb can 150k max..but interest rates 10%? worthy?

assuming clean commitment.. ur cc debts ard 50k.. have u converted into balance transfer? how long the tenure>

Boss u pls dun encourage ppl to go for PL la. If its not seriously needed then its more like suicide wei.

i need loan. haha .which the best rate?

damn yall taking personal loans, such risk seekers

well, no pain no gain

if have income tax 2019 declared,

6 month bank statement,

but under SG FORM B (with business) , not employee under company..

possible to apply personal loan??

any other documents?

according to this
https://www.maybank2u.com.my/maybank2u/mala...sonal_loan.page
If you are self-employed:
Copy of NRIC (both sides) AND
Copy of Business Registration AND
Latest B form with official tax receipt OR
Latest 6 months' Bank Statements


https://www.google.com/search?source=hp&ei=...Q4dUDCAc&uact=5

companies, not so easy...as they require more..doc

6.5%..

This post has been edited by RO Player: Jul 24 2020, 02:37 PM

you mentioned that....

but SG (salary group)...with business entity..

if you want to apply using this category and yet you think it will be troublesome due to more documentation requirement....
then try what?

as per that same site..
Application form together with:
Copy of NRIC (both sides) AND
Latest 1 month salary slip OR
Latest EA form OR
Latest BE form with official tax receipt
Latest 3 months' savings account activity/current account statements (optional)

or you could try search yourself from the another link (google link) in my earlier post, for some banks that only requires those info that you can easily provides

This post has been edited by MUM: Jul 24 2020, 03:29 PM

Good news is TS is earning money from business
Bad news.. To stay away from toxic habits
Taking debts to cover debts that will end up a vicious cycle

If you are self employed, most bank requires at least 2 years of your business account.

If you are a director of a Sdn Bhd, then just ask your company secretary to give you the company forms + your own formB but still need at least 2 years in operation.

I tried to get a new cc from other bank all get rejected due to less than 2 years in operation.

Nothing too troublesome if you are looking to get capital to invest into your business.

Currently it is very difficult for biz owner to get personal loan.. banks impose high requirements. May i know how long is your biz and what is the average monthly turnover for the past 6 mths?

Pm, if u r bank, if u are agent or third party buzz off..