what do you mean by calculation on overdraft method?

Maybank full flexi different with others conventional semi/full flexi loan.

You try to study the Overdraft (OD) pay back schedule.

Conventional semi/full flexi loan = fixed monthly installment
Maybank OD loan = variable monthly installment, fixed principle amount

https://www.imoney.my/articles/home-loan-ov...ility-explained

https://www.imoney.my/articles/home-loan-re...ility-explained

I have found two articles - overdraft & redraw facility.

Please check my understanding for MBB semi flexi loan:
Put in extra money, principal drop and saves interest.
Take out extra money, pay withdrawal charges of RM 25 and principal rise again.

When the fixed monthly payment is done and there is no extra payment, if we take out the money, it will cause an overdraft which leads to an increase in principal. This means it'll take a longer time to payback the loan as technically, we took more money than the initial loan amount.

The overdraft calculation I mentioned is for Maybank FULL flexi loan, not applicable to semi flexi loan.

"Put in extra money, principal drop and saves interest."
extra money will park as advance payment, it can reduce the interest. This extra money can withdraw as you wish.

"When the fixed monthly payment is done and there is no extra payment, if we take out the money"
no extra money in account, then nothing can be take out

Any current MBB semi-flexi loan holder can help to confirm this. haha
Any maintenance fee?
Wish to know the answer too

it has been confirmed by MBB case worker and several members of this forum.
No maintenance fee for semi flexi

semi flexi holder here, yes, RM25 per withdrawal, done in MAE app, no monthly maintenance fee
Full flexi monthly maintenance fee is RM5, free withdrawal, overdraft facility
Min withdrawal is RM1k

If you're existing MBB users, then you will know Maybank app probably is the most consolidated banking app by far

thanks all

I took Maybank loan for under construction project. I noticed that maybank bought etiqa fire insurance. Under construction project has fire insurance under developer. Is they any chance to cancel the policy?

Hi sifus , I just studied more about Maybank MaxiHome Flexi, its confusing basically like OD with fixed principal amount to pay every month so first 10-15years total monthly repayment will be higher compare to conventional loan, but after that ur monthly installment dropped alot until year 35 due to the substantial initial principal u paid over the early years .

Anyone experienced can help comparing this to conventional flexi loan? which just fixed monthly payment, the interested saved (if pump cash in the current account) will auto be used to pay principal monthly.

Personal instinct firstly , the conventional flexi loan shud work much better since if i have extra money to put in every month for the first 10-15years , I can just gather them all inside the current account and save interest that way as well and not force to pay high installment . Secondly the money worth much less after 10-15years, so lets say im paying 5k installment now , 5k in 15-20years time shud worth much less compare today .

The only benefit i think off is if you never have much cash inside the current account (Flexi), then Maybank MaxiHome Flexi works well as forced extra saving every month as the principal paid is much higher at first to offset future interest . (No data to backup tho, Sifus plz come in to help)

I took some rough calculations : Maxihome flexi over 35years saved 15% of Total interest charged so thats a huge amount, but mostly due to early high principal paid, so not sure if i have extra cash (saved from not needing to pay high monthly installment) in conventional loan will match the saving of 15%.

Any sifus can help to choose either Maybank Maxihome Flexi or Conventional Flexi loan more worth it ?

This post has been edited by Gatsby IT: Jul 30 2024, 01:44 PM