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 Which bank offer FULL FLEXI LOAN?, Any bank?

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luminarist
post Jun 12 2018, 04:18 PM

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rates so high, the bank must be very happy
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.
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.
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.
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.

 

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