Car loan / hire purchase loan is fixed rate.
Will not be affected by any changes of BR / OPR (BNM).

Unless you are talking about variable rate loan.

RHB Loan system is screwed up. Anyone working in RHB loan department?

Not sure about car loan but mine is house loan. Everytime they revise the BLR, they will revise the monthly repayment amount too.

Anyone who need extra cash can try this method. But not advisable as it might bankrupt you by the end of the loan period but it's long long time away.

So I got a loan from them, before BLR revised (lowered). And my loan repayment amount is RM2k + monthly. But before they revised the BLR, I got some extra cash lying around so I inject into the loan account to offset the interest. I injected almost RM300k inside. What happen after really surprised me, at the revision date, my monthly repayment is only RM100+. And what's even more ridiculous is even after i take out the extra cash (300k) the repayment amount remained the same. I immediately realised something was wrong because if i left it till the last year of my loan i would still be paying less, and my amount outstanding would balloned. (I can still pay RM2k but anything extra goes to the extra account and does not reduce my loan amount). 

I called their CS and explain this even the branch manager they said it's the system he also quite shocked by it actually. But say that's how they do it. They only revised the system during BLR revision. So essentially, anyone that got extra cash lying around, inject into the extra account. My repayment monthly now is RM70 after this latest increase because i put even more cash into the account before they revised it. Essentially I got more money to roll when I needed it because my monthly repayment is so low. I did tell the CS service to update the loophole but they say it's not worth it. The system been there for years. So I shall take advantage of it 

There is a serious loophole anyone that using RHB house loan wish to know more can contact me.

On a side note, is other bank house loan system like this? Hope to know more. Thanks.

Same here for my RHB full flexi house loan. When you pump in extra money, the repayment monthly amount will adjust accordingly only when BLR got revision. For me, it's not a loophole, the system just adjust based on the remaining tenure. I like it this way as well. 😁

Same here for my RHB full flexi house loan. When you pump in extra money, the repayment monthly amount will adjust accordingly only when BLR got revision. For me, it's not a loophole, the system just adjust based on the remaining tenure. I like it this way as well. 😁

me

i did noticed it and called cs.This coming tues will call me to explain about the calculation.
i did email to rhb too..not yet get any reply.

1/August/2020
BR rate 2.50%
New Rental Charges: 4.48%
RM677 per month

1/June/2020
BR rate 2.75%
New Rental Charges: 4.73%
RM680

5/June/2022
BR rate 2.75%
New Rental Charges: 4.73%
RM708

My loan never reach til rm700 before,but this latest rate make it rm708..and is just 2.75% BR..
i did get br rate 4% before,but paying rm698 only.
very curious how their calculation.5 years loan,now left 23months to go.My loan under variable rate

Do you get the explanation?

for CIMB & PBB no news yet. You guys got recieve any news ?

for CIMB & PBB no news yet. You guys got recieve any news ?

Rhb loan installment amount updated, I pump in extra 20k principal prepayment after the OPR adjust announcement, but how come my installment amount increase RM300+? 🤔

Rhb loan installment amount updated, I pump in extra 20k principal prepayment after the OPR adjust announcement, but how come my installment amount increase RM300+? 🤔

Own nothing and be happie.
If mortgage rates goes up double can you still afford to pay?... fruit for thought.

Rhb loan installment amount updated, I pump in extra 20k principal prepayment after the OPR adjust announcement, but how come my installment amount increase RM300+? 🤔

Maybe there's RHB staff in this forum    seems like they already close off the loophole or just an error. My regular installment went back to the normal amount meaning they don't take into account my extra money in principal prepayment account anymore.

Everyone with RHB house loan should take note especially if you have >70% in prepayment account, you might pay off your loan in one year and lose your flexibility on the the anytime redrawal facility. But might be a good thing with current high interest rate environment.