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 Which bank offer FULL FLEXI LOAN?, Any bank?

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sunami
post Jun 12 2018, 07:08 PM

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QUOTE(coolguy99 @ Jun 12 2018, 07:37 PM)
Maybank offered me 4.6 without mrta.
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yeah..but the good thing about cimb...the installment fluctuate depending on the amount that you have inside the account.
this attracts me..and i know i sure got money inside one brows.gif
TSmoon yuen
post Jun 12 2018, 11:10 PM

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QUOTE(sunami @ Jun 12 2018, 07:07 PM)
then something wrong with your loan officer.
btw..all i know..within a week can get approval d..
is your commitment high?
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Other bank 3 days already approved.

Can I know what is full flexi bank loan name?
enkil
post Jun 13 2018, 04:45 AM

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Its tougher withbloans nowadays sigh..
TSmoon yuen
post Jun 13 2018, 11:34 AM

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Any lastest loan?
swiss228
post Jun 13 2018, 12:17 PM

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QUOTE(luminarist @ Jun 12 2018, 04:18 PM)
rates so high, the bank must be very happy
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I think the loan rates cheap. I got LO for 4.4% first year, 4.7% thereafter. With MRTA somemore. But mine is a commercial loan. Do banks charge higher for loan on commercial properties?
luminarist
post Jun 13 2018, 01:13 PM

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QUOTE(swiss228 @ Jun 13 2018, 12:17 PM)
I think the loan rates cheap. I got LO for 4.4% first year, 4.7% thereafter. With MRTA somemore. But mine is a commercial loan. Do banks charge higher for loan on commercial properties?
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4.7% is high. Think u can negotiate further or find other banks. My current ongoing ones are all housing loans, flat rates subject to OPR revision without any percentage capping.

Standard chartered 4.5% (Full flexi, without MRTA)
Public bank 4.52% (Semi flexi, with minimum MRTA)
Maybank 4.47% (Semi flexi, without MRTA)

Might wanna check if the one u have has percentage capping for advance payment to save interest.
I remember HLB offered me pretty crappy terms, something like full flexi at 70% capping and semi flexi 30% capping. Any capping is already a deal breaker for me tbh.
TSmoon yuen
post Jun 15 2018, 08:27 PM

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QUOTE(luminarist @ Jun 13 2018, 01:13 PM)
4.7% is high. Think u can negotiate further or find other banks. My current ongoing ones are all housing loans, flat rates subject to OPR revision without any percentage capping.

Standard chartered 4.5%  (Full flexi, without MRTA)
Public bank 4.52% (Semi flexi, with minimum MRTA)
Maybank 4.47% (Semi flexi, without MRTA)

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Can u describe more about Std Charted Bank?
luminarist
post Jun 15 2018, 10:33 PM

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QUOTE(moon yuen @ Jun 15 2018, 08:27 PM)
Can u describe more about Std Charted Bank?
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What do u need to know more? I'm just a borrower haha. Might wanna ask their mortgage advisor for more accurate detail.
spazerock
post Jun 16 2018, 12:58 AM

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cimb , stand chart, citibank, uob, hsbc
mystalyzer
post Jun 16 2018, 05:26 AM

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I got mine couple of years ago from Alliance Bank for 4.42%, fully flexi and no MRTA
TSmoon yuen
post Jun 16 2018, 08:30 AM

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QUOTE(luminarist @ Jun 15 2018, 10:33 PM)
What do u need to know more? I'm just a borrower haha. Might wanna ask their mortgage advisor for more accurate detail.
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Can we put money in current account to offset loan interest?
TSmoon yuen
post Jun 16 2018, 08:31 AM

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QUOTE(mystalyzer @ Jun 16 2018, 05:26 AM)
I got mine couple of years ago from Alliance Bank for 4.42%, fully flexi and no MRTA
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Is Alliance,full.flexi , have current account to.offset the loan interest?
luminarist
post Jun 16 2018, 01:35 PM

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QUOTE(moon yuen @ Jun 16 2018, 08:30 AM)
Can we put money in current account to offset loan interest?
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U can just make payment to the loan account directly.

To my understanding, every bank's flexi or semiflexi housing loans are possible to receive advance payment to further reduce loan interest. However, there are conditions to this.

1) Some banks may limit the amount of interest u can save. For example, ur principal loan is 500k, the borrower wishes to dump advance payment to block the interest. However, some banks may have T&C to limit up to 70% of the principal. Anything beyond will not reduce the interest further.

2) Withdrawal limitations. Borrower can withdraw advance payments made from loan account. However, some banks may require advance notice of withdrawal, minimum amount, set interval amounts, withdrawal processing fee, over the counter only, etc. There are also condition where only advance payment amounts after construction period may be withdrawn. Those amounts made during construction period will not be withdrawable.

3) Account maintenance fee for the account.

These are the things i would look out for to decide which bank to sign. There are banks which do not impose the conditions as described in 1 or 2. So be sure to compare full flexi or semi flexi thoroughly.
mystalyzer
post Jun 16 2018, 03:50 PM

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QUOTE(moon yuen @ Jun 16 2018, 08:31 AM)
Is Alliance,full.flexi , have current account to.offset the loan interest?
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yes to both. can withdraw from current account too if need to use the money
TSmoon yuen
post Jun 19 2018, 11:42 PM

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Finally, I pick MBB full flexibility loan
realitec
post Jun 20 2018, 07:53 AM

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QUOTE(moon yuen @ Jun 19 2018, 11:42 PM)
Finally, I pick MBB full flexibility loan
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All the best smile.gif Remember to share your experience if your loan is approved.
idoblu
post Jun 20 2018, 08:25 AM

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QUOTE(luminarist @ Jun 16 2018, 01:35 PM)
U can just make payment to the loan account directly.

To my understanding, every bank's flexi or semiflexi housing loans are possible to receive advance payment to further reduce loan interest. However, there are conditions to this.

1) Some banks may limit the amount of interest u can save. For example,  ur principal loan is 500k, the borrower wishes to dump advance payment to block the interest. However, some banks may have T&C to limit up to 70% of the principal. Anything beyond will not reduce the interest further.

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I didnt know there is a limit to this and differs from bank to bank. So far I am able to dump in 100% in my PBB Full Flexi

This post has been edited by idoblu: Jun 20 2018, 08:25 AM
luminarist
post Jun 20 2018, 10:21 AM

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QUOTE(idoblu @ Jun 20 2018, 08:25 AM)
I didnt know there is a limit to this and differs from bank to bank. So far I am able to dump in 100% in my PBB Full Flexi
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Maybe your loan was few years back? Just checked the draft T&C PBB sent me. PBB offered me 70% capping for full flexi and without capping for semi flexi earlier this year. Unless the mortgage officer mixed up these two lol.
cwtien
post Jun 20 2018, 01:30 PM

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QUOTE(luminarist @ Jun 20 2018, 10:21 AM)
Maybe your loan was few years back? Just checked the draft T&C PBB sent me. PBB offered me 70% capping for full flexi and without capping for semi flexi earlier this year. Unless the mortgage officer mixed up these two lol.
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Banks have started to wise up on cash rich individuals. A lot of full flexi loans now have cap (my SCB loan is also 70% cap).
khieni
post May 11 2019, 07:05 AM

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QUOTE(luminarist @ Jun 16 2018, 01:35 PM)
U can just make payment to the loan account directly.

To my understanding, every bank's flexi or semiflexi housing loans are possible to receive advance payment to further reduce loan interest. However, there are conditions to this.

1) Some banks may limit the amount of interest u can save. For example,  ur principal loan is 500k, the borrower wishes to dump advance payment to block the interest. However, some banks may have T&C to limit up to 70% of the principal. Anything beyond will not reduce the interest further.

2) Withdrawal limitations. Borrower can withdraw advance payments made from loan account. However, some banks may require advance notice of withdrawal, minimum amount, set interval amounts, withdrawal processing fee, over the counter only, etc. There are also condition where only advance payment amounts after construction period may be withdrawn. Those amounts made during construction period will not be withdrawable.

3) Account maintenance fee for the account.

These are the things i would look out for to decide which bank to sign. There are banks which do not impose the conditions as described in 1 or 2. So be sure to compare full flexi or semi flexi thoroughly.
*
QUOTE(moon yuen @ Jun 19 2018, 11:42 PM)
Finally, I pick MBB full flexibility loan
*
QUOTE(luminarist @ Jun 20 2018, 10:21 AM)
Maybe your loan was few years back? Just checked the draft T&C PBB sent me. PBB offered me 70% capping for full flexi and without capping for semi flexi earlier this year. Unless the mortgage officer mixed up these two lol.
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QUOTE(cwtien @ Jun 20 2018, 01:30 PM)
Banks have started to wise up on cash rich individuals.  A lot of full flexi loans now have cap (my SCB loan is also 70% cap).
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HLB has a clause Interest Offset Limit... Anyone take this HLB full flexi? Any cap for HLB? Any HLB mortgage banker here?

After read this clause again and do some simulation and found out

Interest chargeable is either (a) outstanding principal minus extra cash balance or (b) 70% of outstanding principal, whichever is lower

If my outstanding principal is RM1. 2 mil
Extra cash balance is RM300k

So
(a) 1.2 mil minus 300k equal to 900k OR
(b) 70% of outstanding principal = 0.7* 1.2 mil equal to 840k

Then interest chargeable is whichever lower..

So my interest chargeable is RM840k... Whichever is lower

However, it does not make sense, if I don't put any extra cash inside the current account, the bank already given me 70% on the outstanding principal.... Will the bank gives such good deal??




This post has been edited by khieni: May 11 2019, 07:10 AM

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