Roger appreciate that

I wan to confirm if i apply semi maxihome loan
Is disbursement 50k and next day i dump in45k advance payment, the interest will calculate bsed o balance 5k or principle 50k?

Based on balance owed on a daily basis.

Oo.. Noted... What is the difference of full flexi loan and semi flexi loan?

https://www.propertyguru.com.my/property-gu...difference-3529

if u dun have a lot of cash just go for semi flexi

Agree you will have to justify paying for the monthly fee if you go for full flexi

I have a Maybank semi Flexi loan. Let say I have a outstanding loan of 100k now, and I have advance payment of 100k. Does that mean bank will only deduct principal until loan end and I don't need to pay anymore? Or there is a minimal charge? Cause I don't think bank will give loan for for the next few years. Thanks.

Hello friend,
If your advance payment amount is equivalent to the full amount of your outstanding loan, I reckon that it will be considered a fully paid-off loan and the house will be completely owned by you already.

Please correct me if I am wrong.

Not sure about that as I have not reached 'advance payment' = 'outstanding loan'... Not sure if I will reach that soon, but just asking if there is anything to be aware if almost reach that.

I was thinking if there is a maximum % of advance payment that bank impose for interest deduction or some clause. As if we reach almost RM0 amount of outstanding loan Vs advance payment, bank does not get much interest charged.

maybank don't have capping on repayment, just make surev u don fully settle the loan before lock in period.
in your case, the bank will not charge u interest if you have put advance payment for outstanding your loan amount.

Hello Shaoching,
Good evening.
Meaningful, the interest will only be charged on the outstanding loan amount correct? The loan amount that have been decreased by the advance payment will not be included in the Interest Calculation anymore?

Yes...

Thank you boss.
Wishing you boss a great weekend.

Eh? What boss... Kuli je...
Have a great weekend as well.

May I know what is the interest rate (approx.) for Maybank housing loan now?

Check out RinggitPlus website.. Use as baseline or rough info.. Shop around a few banks and compare best rates and features offered. Don’t forget to negotiate for a lower rate and basically play bank A vs bank B... Lastly, depending on your finances, it’s actually ideal to deal with your current primary/most frequently used bank. As they should have some years history.. Play on that connection as well when negotiating. Good to build long lasting relationships. However, In the end, numbers win yeah..

This post has been edited by voncrane: Aug 16 2020, 03:14 PM

Wow thanks so much for the information...

Didn't know can nego for lower rate... I've always thought whatever rate the bank offered is fixed and cannot be changed.. unless I choose alternate bank..

Yeah... You can.. Of course, some really can’t be negotiated with. Those one, no choice.. Just accept as is. Don’t be overly pushy..Agents are humans too and the decision isn’t theirs to make .. But that’s where the whole building relationship works out. IMO/Experience, If you have say 2 or more loans with Bank X and for the past 5 years++ or so, and you’ve been a great paymaster who never missed a payment? Bank X would be more willing to drop some points off the interest rate just to keep you as their customer. Now, you’ll have 3 loans with em.. Maybe you are seeking 90% and one really only qualifies for 70/80%? Since they know you, higher chance to get the 90% you seek vs others who might offer less. Cuz overall, they still be making more money with you (additional loan) vs let you go taste another banks “goodness”.

You are welcome..Just glad I can assist..

You are being humble.
One day you will become boss also.

Dear sifus,

Would like to seek your advice regarding Maybank house bank loan.

Mortgage loan package: Maybank conventional loan

Loan details (Date: 30 Sept 2020)
Outstanding loan: 200,000
Advanced payment: 10,000
Monthly payment: 800

After checking today (Date:1 Oct 2020)

Interest charged: 600
Outstanding loan: 200,600
Advanced payment: 9,200

From my understanding, should the outstanding loan (principle) reduced to 199,800 since the interest charged is 600? Because 800 was deducted from advanced payment.

Hope to get some clarification before contacting bank.

Have a nice day!