Welcome Guest ( Log In | Register )

Outline · [ Standard ] · Linear+

Loans Questions about Alliance One Account

views
     
TSweissPC
post Nov 14 2018, 07:11 PM, updated 6y ago

Casual
***
Junior Member
316 posts

Joined: May 2015
Let me know if I'm posting in the wrong sub-forum. I write this post to record down the details of my conversation with so called outsourced agents of a bank and to organise the info in black and white rather than process it in my mind.

It goes like this:-

Since Alliance Bank's One Account was quite well advertised a few months ago, I made an enquiry at one of its branches and was told to give them my contact number and they will call me. I gave them my contact but didn't hear from them for a few months, until today.

I was thinking to cash out the equity in my property to have cash for any investment opportunities in the next few months.

However, the call that I got today was from a so-called 'Alliance outsourced company', that claimed to be staffed by ex-bankers, with access to top management of the bank. When they say they have access to top management of the bank - that is a red flag to me.

Furthermore what they are offering is debt consolidation for those who are blacklisted or unable to get their property loans approved, they will charge 6-9% professional fees once the refinancing is approved.

I am looking to cash out the equity in my house, but why was my info and contact number given to an outsourced 'agency/company' when I made a direct enquiry to Alliance Bank's branch, and presumably the bank's relationship manager or sales representative should contact me?

I was not looking for debt consolidation services, and nowhere in the advertisement say that the Alliance One Account is for those who are blacklisted, so I'm puzzled whether that is how Alliance Bank goes about procuring customers for their One Account products and how should I get to talk to the bank officers/RM - which the staffs of the bank blocked me from doing in the first place?

https://www.alliancebank.com.my/financing/p...=CorpWebAOAPage

This post has been edited by weissPC: Nov 14 2018, 07:12 PM
TSweissPC
post Nov 14 2018, 09:04 PM

Casual
***
Junior Member
316 posts

Joined: May 2015
Thinking about it further it could be Alliance Bank staff didn't bother to call me and just so happen some debt consolidation agency just random cold call using Alliance Bank outsourced agency as an opener.

Is it me just putting two and two together when my enquiry to Alliance Bank and this call from debt consolidation agency are not related in the first place?
mas1900
post Nov 15 2018, 10:58 AM

Getting Started
**
Junior Member
126 posts

Joined: Sep 2017
It could be two irrelevant issues.

Alliance Bank might be too busy to call you.

Your contact might be supplied by other organization such as credit card etc.
TSweissPC
post Nov 15 2018, 03:55 PM

Casual
***
Junior Member
316 posts

Joined: May 2015
QUOTE(mas1900 @ Nov 15 2018, 10:58 AM)
It could be two irrelevant issues.

Alliance Bank might be too busy to call you.

Your contact might be supplied by other organization such as credit card etc.
*
Yeah, I suspect so, I almost went ahead with the loan application, thinking that's how Alliance Bank work, but I was thinking why must I be charged 6-9% professional fees when I apply for a loan to refinance my house? That's 900 for every 10k of loan approved.
Pac Lease
post Mar 12 2019, 05:53 PM

On my way
****
Junior Member
686 posts

Joined: Jun 2012
QUOTE(weissPC @ Nov 15 2018, 03:55 PM)
Yeah, I suspect so, I almost went ahead with the loan application, thinking that's how Alliance Bank work, but I was thinking why must I be charged 6-9% professional fees when I apply for a loan to refinance my house? That's 900 for every 10k of loan approved.
*
you may direct apply with bank is more secure and there is no so call 'professional fees 6-9% charge" by the bank. there are outsource mortgage broker.

there is no bank can approved a loan application whereby the loan applicant was blackisted.


SUSazhan82
post Mar 12 2019, 07:40 PM

Casual
***
Junior Member
316 posts

Joined: May 2015
From: Klang Valley


sounds like an integrity issue..
Branch staff probably gave out your info to third party..
I think affin does that too... got a lot of calls from third party offering the same.

My suggestion : Call them . Using the hotline.

Base on what i know, everything can be consolidated into 1.

You can get overdraft facility base on your house amount. Overdraft will then be used, to maybe buy your car if its under a loan. Or just regular overdraft.
If you want term loan, they will refinance your house. and you will get up to 90% value of it.
In terms of rate however, its a bit higher compared to other conventional loans..

DelawiAwank_1 P
post Apr 29 2019, 11:03 AM

New Member
*
Probation
5 posts

Joined: Apr 2019


Hi,
I recently applied for Alliance One Account and got no such call from a "agency".
I simply applied for the refinance through this link:
https://loanstreet.com.my/refinance/allianc...nance&locale=en

Pac Lease
post Apr 29 2019, 03:43 PM

On my way
****
Junior Member
686 posts

Joined: Jun 2012
QUOTE(DelawiAwank_1 @ Apr 29 2019, 11:03 AM)
Hi,
I recently applied for Alliance One Account and got no such call from a "agency".
I simply applied for the refinance through this link:
https://loanstreet.com.my/refinance/allianc...nance&locale=en
*
Hi,

i'm Lee from Alliance Bank. you can message me if you want to know more about the Alliance One Account.
013-280 6313, 03-2604 2966 or email at leekf@alliancefg.com

SUSazhan82
post Apr 29 2019, 04:33 PM

Casual
***
Junior Member
316 posts

Joined: May 2015
From: Klang Valley


QUOTE(Pac Lease @ Apr 29 2019, 03:43 PM)
Hi,

i'm Lee from Alliance Bank. you can message me if you want to know more about the Alliance One Account.
013-280 6313, 03-2604 2966 or email at leekf@alliancefg.com
*
wow...
Lets say i put an FD with you guys..
can I apply for one account and get a loan base on that FD?
Pac Lease
post Apr 29 2019, 06:19 PM

On my way
****
Junior Member
686 posts

Joined: Jun 2012
QUOTE(azhan82 @ Apr 29 2019, 04:33 PM)
wow...
Lets say i put an FD with you guys..
can I apply for one account and get a loan base on that FD?
*
Alliance One account is doing housing loan refinance. Is depend on your current property market value versus your current loan oustanding balance to cash out.
the cash out portion will be in overdraft.

To answer your question, we do have pledge FD with one account concept.
SUSazhan82
post Apr 29 2019, 06:31 PM

Casual
***
Junior Member
316 posts

Joined: May 2015
From: Klang Valley


QUOTE(Pac Lease @ Apr 29 2019, 06:19 PM)
Alliance One account is doing housing loan refinance. Is depend on your current property market value versus your current loan oustanding balance to cash out.
the cash out portion will be in overdraft.

To answer your question, we do have pledge FD with one account concept.
*
ic..

but lets say no income..
can that FD be used as "proof of income"
Pac Lease
post Apr 29 2019, 06:34 PM

On my way
****
Junior Member
686 posts

Joined: Jun 2012
QUOTE(azhan82 @ Apr 29 2019, 06:31 PM)
ic..

but lets say no income..
can that FD be used as "proof of income"
*
No.
SUSazhan82
post Apr 29 2019, 06:45 PM

Casual
***
Junior Member
316 posts

Joined: May 2015
From: Klang Valley


QUOTE(Pac Lease @ Apr 29 2019, 06:34 PM)
No.
*
ic ..
thanks biggrin.gif
tiramisu83
post Apr 29 2019, 10:33 PM

On my way
****
Junior Member
626 posts

Joined: Apr 2011
QUOTE(Pac Lease @ Apr 29 2019, 06:19 PM)
Alliance One account is doing housing loan refinance. Is depend on your current property market value versus your current loan oustanding balance to cash out.
the cash out portion will be in overdraft.

To answer your question, we do have pledge FD with one account concept.
*
Hi,i having 2 housing loan now (from 2 different banks), if i refinance these 2 loan with Alliance, do i need to pay the lawyer fees and stamp duty? Like those normal refinance process and fees?
Pac Lease
post Apr 29 2019, 11:47 PM

On my way
****
Junior Member
686 posts

Joined: Jun 2012
QUOTE(azhan82 @ Apr 29 2019, 06:45 PM)
ic ..
thanks biggrin.gif
*
Most welcome ya.
Pac Lease
post Apr 29 2019, 11:50 PM

On my way
****
Junior Member
686 posts

Joined: Jun 2012
QUOTE(tiramisu83 @ Apr 29 2019, 10:33 PM)
Hi,i having 2 housing loan now (from 2 different banks), if i refinance these 2 loan with Alliance, do i need to pay the lawyer fees and stamp duty? Like those normal refinance process and fees?
*
Yes, u need to pay the lawyer fees and valuation fees.however, those fees we can help u to finance into loan so u upfront no need to take out ur own cash to pay it.
voon71
post Jun 11 2019, 09:50 PM

New Member
*
Newbie
5 posts

Joined: Oct 2008


What's the interest rates like?
Right now my housing loan is at BLR-2.25%, with about 250K remaining (paid for 8 years). The property is currently at about 650K.
I have no credit card debts nor any other type of debt.
If I were to refinance for cash of 150K, is it considered 'extra' under the personal loan catergory with a higher interest rate? Is this the overdraft thing?
Pac Lease
post Mar 10 2020, 10:54 AM

On my way
****
Junior Member
686 posts

Joined: Jun 2012
QUOTE(voon71 @ Jun 11 2019, 09:50 PM)
What's the interest rates like?
Right now my housing loan is at BLR-2.25%, with about 250K remaining (paid for 8 years). The property is currently at about 650K.
I have no credit card debts nor any other type of debt.
If I were to refinance for cash of 150K, is it considered 'extra' under the personal loan catergory with a higher interest rate? Is this the overdraft thing?
*
You can have option to apply refinance cash out with overdraft facility or term loan facility. Overdraft interest is 6.63 and term loan is 4.19
Pac Lease
post Aug 28 2021, 10:33 PM

On my way
****
Junior Member
686 posts

Joined: Jun 2012
Anyone still interested to apply refinance? I can explain in detail to u regarding refinance with debt consolidation services.

 

Change to:
| Lo-Fi Version
0.0138sec    0.50    5 queries    GZIP Disabled
Time is now: 29th March 2024 - 11:25 PM