Talk with the loan officer. If I am not mistaken, this type of account is good in the sense it does help to reduce outstanding balance (daily rest), but the interest charge will be higher the moment you take out money from it.

When to Mapex today, here's how:

Loan amount = RM30,000
Monthly payment = 500
Keep 30,000 at linked current a/c.
Total Payment = 32,861.69


Loan amount = RM30,000
Monthly payment = 500
Keep 30,000 at FD@4%, earn compound interest 7,960
Total Payment = 36,367.65 - 7,960 = 28,407.65


Is my compound interest correct ah?

dont understand lah.. so confusing.

It's a plan meant for those with extra cash.
One could dump the extras into the a/c & it effectively cut down on the interest incurred.
But u'd still enjoy the flexibility to withdraw the excess in case you need it.

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Added on May 29, 2007, 2:14 amHong Leong also has a similar plan called Mortgage Plus.
The catch - RM10 maintenance fee every month.
But u get complimentary Gold CC throughout ur loan tenure.

While Citibank charges RM200 for account opening.

This post has been edited by scorgio: May 29 2007, 02:14 AM

yea i kena that from citibank.... RM200. some of the flexi plan outside required u to withdraw a minumum amount from ur a/c cause these options is chargeble. OCBC if i remember correctly, they charge u RM50 everytime u withdraw the minimum amount which is RM1k i think. so call service charge. that was last year. maybe this option has changed...

im currently having a home loan with citibank and they are very very efficient fellows. due date on the 28th every month, u still dont bank in, they will start calling u evening time to remind u even thought u have 2 month access payment in ur a/c. kinda neat actually. there is no charge for withdrawal of my access amount. but im not planning to take it out unless absolute nessasary.

with the money u put in the current a/c , can earn higher rate than loan interest from investment.
just my 2cents

If i oredi got a current account wif ctb then i will not have to pay the extra RM200? Or do i still have to if i were to take a home loan with them?

Standard Chartered & UOB also charging RM10/mth.
Any bank waived that ?

The catch is higher interest rate compared to normal home loan.

AFAIK, only Citibank don't charge monthly fee.
But a RM200 account opening fee.

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Added on June 4, 2007, 8:00 pmThink not.
Unless u're a Citigold customer, then u may request for it to be waived.

This post has been edited by scorgio: Jun 4 2007, 08:00 PM

But Stanchart and HLB also charge acc. opening fee (in this case, RM100).

If you want to see a loooong post about it, go to http://www.realestate.net.my/forum/viewfor...288bfac6f7f73a4

Basically, if you have excess cash, get one of those flexi loans. You can withdraw your excess amount anytime without penalty. Think of it this way - it's as if your current account is getting the same interest % as your loan.

Thanks scorgio.

OHh i can do that huh! Must request? Not auto waived arh? Why they didnt tell me about the RM200 to open an account when i asked them about their homeloan?

So HSBC will also charge a monthly maintenance fees? Then what about other banks? I know ambank also no monthly maintenance fees but cannot simply take out excess money.

CIMB -> RM200 a/c opening, RM10 monthly

as i surveyed, citibank is the best based on flexy.

they only charge the rm200 for opening account.

U can withdraw or bank in any amount of money in your flexy account without any charges unlike other banks...

There is also no monthly fees

Mod, why top 2 post is blank?

i also wanto know.....

Last time there's some problem, so some of the post will be missing. Saw it in announcement some times ago.

There's a database corruption last week.