Bank doesnt care how you're planning to pay your current commitments when you're studying. All they know is you're going to be jobless for a year and ding ding ding alarm bell goes.

You've already signed for a condo, a car and 2 personal loans. If I'm a bank, its gonna be very hard for me to loan you more money.

I'm just wondering :
1) Why didnt you try to save money first instead of relying on banks?
2) How are you going to sponsor your life when you're studying

I personally think you're too broke to study.

Hi,

My annual salary is about 40k, have unsettler credit card debts of about 10k, servicing a car loan of about 500/month.

Would i be entitled to take personal loan on 50k?

What is the interest rate currently for 50k loan?

Thank you.

Hi, I have saved some cash but have invested like in property and forms. I hv taken some personal loans for my brother's wedding (How dumb ass i am)
As for the personal loan, I am able to settle all by August by withdrawing from my EPF account. That will settle my PL, as for my current loan (if can get for my studying purpose) i'm gona aply , surely i will allocate some advance pymt in my local bank account to continues paying till i finish my study. I hv relative in canada whom can find me part time job while im doing my studies and my friend there wiling to share the rental place with me and some other expenses which can b shared by us.

I nvr thought of pursuing studies untill last year when i was working with of my friend who did stop work and continue studies in there and he is doing good with some good job. He is paying bills from there while sending money to hsi family.I blief I can achieve something like that, I dun mind to take risk at this stage coz i hv ppl to backing up for my current commitments here

Hi Siversex,

Can withdraw epf to clear personal loan? Car loan can withdraw or not? How to do so.

Thanks,
Charlie

I'll spare my comments on the wedding loan

So you're going to withdraw from EPF under which scheme?

Since your dad has a property (assuming that it is paid off), you can use that property as collateral whilst getting an overdraft facility instead of refinancing.

Cant ask for your Canadian relatives to help you with the fees first?

Hi Charlie,

No you can't withdraw for any of those reasons I guess.You can check online https://secure.kwsp.gov.my/index.php?page=l...general〈=en for the reasons you can use your account 2 money to withdraw. As I told you, I hv bot a new house with my brother , hence I can use the house to withdraw money from my second account :-p

This are the possible scenarios, one can withdraw from his EPF's account 2
Withdrawal Form

* Age 50 Years Withdrawal
* Age 55 Years Withdrawal
* Withdrawal to Reduce / Redeem Housing Loan
* Incapacitation Withdrawal
* Leaving Country Withdrawal
* Health Withdrawal
* Education Withdrawal
* Pensionable Employees Withdrawal And Optional Retirement Withdrawal
* Members’ Savings Investment Withdrawal
* Withdrawal to Purchase a House
* Withdrawal to Build a House
* Withdrawal Of Savings Of More Than RM1 Million
* Housing Loan Monthly Instalment Withdrawal
* Death Withdrawal

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Added on May 14, 2010, 10:33 amHi Syd G,

Yes, my dad's property had paid off the full settlement.
You hv said ,"you can use that property as collateral whilst getting an overdraft facility", mind can spare more info on this. Im not quit get what is this term.
Yes, your right, my relatives over there are only will help for certain reasons, surely they wunt b helping to sponsoring me , if they did then they wunt b calling as 'relatives' I guess...

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Added on May 14, 2010, 11:32 amHi Syd G,

I did some research and found the meaning of OD that u were suggesting :-

Overdraft (OD) facility is a facility that allows you to draw more money than what is available in your account. It's like an extended line of credit. For example: if the bank grants you OD of 50k, then you can use up to 50k in credit. You have to pay the bank interest on the amount of OD you have used. If you use OD of 10k then you pay interest on the 10k. I think the OD interest is BLR + x%.

Well, I'll try find if anyone could do this for me, just incase if you had any contact plz feel free to intro me

tx bro

This post has been edited by silversex: May 14 2010, 11:32 AM

For CIMB, OD interest is a lot lower that that. The best thing about OD is that you're only charged interest for the money you withdraw, not the whole amount like refinancing. And there's no monthly payment!! . Usually banks will give around 80%-90% value of the property for OD. So you can have around 50k 'standby credit' and use 25k first to pay the first part and be charged interest for only that amount. Less paperwork is needed also compared to refinancing

When you're there and working, you can pay off the OD and this way you wont be hit with the normal 'lock-in period' penalty like a mortgage. But I think only the owner of the property can do this. Ask your dad first. After OD is paid off you can release the lien on the house if you want. But no more OD for you lah after that.

But banks will also take consideration your dad's current commitments. If you wanna open a joint current account, I suggest you clear off your personal loans first before applying for OD. Most banks do have OD facilities actually, it's just not well known

I have no contact for it but if I have to do it myself I'd go with CIMB. Just personal preference based on how they worked with me previously.

Good luck.

Dear Syd G,

I hv contacted the cimb branch where they are doing the refinancing service for me.The lady told me, actually they don't hv OD terms such way, but she told me what im doing now (refinancing my house) is consider something like OD also and they can't do OD over my home property.

How sad I am....

Yea it's something like OD but you have to pay monthly installment and pay interest on money you're not utilizing. Unless you're doing Flexi then it's far from the same

Bring your business elsewhere then. Call Maybank and ask for their CashLine Facility. I didnt do much research when I needed OD last time because CIMB/Maybank/RHB offered them so you're gonna have to do this yourself

Hi Silversex,
if they can't do it. find other banks. & if really cannot, do a sales & purchase transaction between yr father or brothers

if a fresh graduate with monthly income 1800-2000 , possible to hav a loan for buy a car ?

Dear Syd G
I shall try with other banks likewise u suggested.Thanks for yr kind advise n for yr precious time as well.
hope wil get good news soon. perhaps will treat u lunch someday if things can jadi means
huhu...

This post has been edited by silversex: May 14 2010, 06:08 PM

Working with Singapore company here. I managed to get loan from AEON and also CIMB. They request pay slip, bank statement and letter for company

i got this offer too...

but i throw it into tong sampah..

can tell me what letter they want from our company?? i desperately need cash now and die die i must at least get RM3k to survive until i get my salary next month. got any banker contact u can give to me? and how they look into our income? izzit base on SGD or base on after convert?

i dun mind if get if from ah long as long as they willing to lend me the money to survive until i get my salary next month, then all problem can be settle. I tried to call those ah long in SG, they dun loan money to foreigner, i guess my only choice now is ah long from Malaysia. any contacts can share?

This post has been edited by Lester1987: May 15 2010, 07:28 PM

hi there,

wanted to get a personal loan for around 10k.. salary income 2k per month..

which bank provide best rates now???

wanted to apply for personal loan for 10k

which bank can offer better rate? need cash urgently..

working in a bank for 2 years.

Monthly income 3.5k

commitment rm 430 for a car.

own a credit card .

P.S both credit card and car loan are not paying promptly. CCRIS got record 1 1 1 0 1 1 0 << but not 2

any agents here? thanks in advance

Looking for RHB or CIMB agents... pm me pls

This post has been edited by Diran Hans: May 24 2010, 11:02 AM

Looking for agent to do debts consolidation (both credit card and personal loan debts). I knew standchart's Quick Cash Edge product can help me on this. Any Standchart agent here can help? Thanks ya! Feel free to PM me me!

does anyone know how to get small personal loan (<Rm5000) in melaka or malaysia?need it fast and quick.