Would like to share some rates that I have...

BSN-6.50%
BIMB-7.00% (5YRS-6.80%)
ALRAJHI-8.50%
STANCHART-8.50%
UOB-8.50%
OCBC-9.50%
EONBANK-12% (3YRS-9%)
CITIBANK-9.18%
HSBC-10.50%
HLB-12%
RHB-12% REDUCING

bank rakyat is now offering 5.95% interest for non-ahli (non government servant) for 15 years loan.

anyone who is interested to loan more than RM50K and doesn't have the salary to apply can PM me, we can make arrangement for those ppl who only have a monthly income of RM1500 to apply for max RM150k loan (with T&C of course)

Just FYI, only those who has a monthly income of at least RM1500 and 3 months of payslip, EPF records, bank records or J forms are eligible to apply.

Anyone who are interested to apply this loan, and use it to invest into other bank's savings plan can contact me, this actually is a very good opportunity, because u are using bank's money to earn profit.

If u take the savings plan (like for example, AMBANK ASSURANCE savings plan), the bank gives u 10% interest per year, and the loan's interest is only 5.95% per year, so u are actually earning money every year u pay the loan.

every bank out there quotes flat rates except for RHB which is on reducing balance.

your 5.95% flat rate is actually 10.2% effective rate. 

Same goes with your Citibank and SCB and OCBC - don't be suprised if u are paying more than the 18% credit card interest.

you can believe whatever u want to believe.  I have no vested interest in this.

If u have a hire purchase - you will understand what I mean.  U think u really pay 2% on your new Honda?

check out the difference between a flat and effective rate.  If your sales person doesn't know what it means - it implies 2 things.

1.  They are ignorant.

2.  They are pretending to be ignorant.

have a nice day.

Well, I think you're misinformed on a few points.  And - i guarantee you your wife is paying a flat rate on her loan, if it's from Bank Rakyat (no disrespect intended to your mrs).

let me explain.

a flat rate does not take the effect of reducing balance into account.  Interest is pre-defined UPFRONT as per Rule of 78.

an effective rate takes into account the "reducing balance" principle. 

As such, a 5.95% flat rate is actually an effective rate of 10.2%.

Secondly, pls pay attention to your car loan. 

your 2% on your honda is not charged on reducing balance!!!!!!!!  It's charged UPFRONT on your ORIGINAL loan amount.

If u want to test it out - why don't you PREPAY on your personal loan or hire purchase.  I GUARANTEE you that you will not enjoy any interest savings.

I hope that I made your weekend.

from a RATES perspective, RHB is charging the lowest rate in the market. (vs. other commercial banks)

Again, u have to compare apples with apples.  i.e. Effective Interest Rates with Effective Interest Rates.

I said amongst commercial banks - RHB has the best rates.  Pls read again.

Bank Rakyat is a cooperative bank, which does mainly government loans.

Bank Rakyat does not come under the jurisdiction of Bank Negara Malaysia.  Good luck if they change any terms on their own whims and fancies.

That's a good point.  From your table - anything less than 100K looks uncompetitive from RHB.  The bank is also "honest" in providing the flat rates there.  Thanks for bringing this up. 

If that's the case - anything less than 50K loan - look's like Al-Rahji & Citibank seems to be the most competitive from a RATES perspective.

For Bank Islam - they maily do cooperative lending, which offers loans mainly to government servants.  You can get less than 7%.  In fact, can be as low as 5.1% depending on loan tenure.  (Reciting from memory, please check for accuracy)

For Bank Muamalat - Which company do you work for? DRB-HICOM? If memory serves, they also do cooperative lending to government servants, and only to selected private companies.  Payment is also via salary deduction....which u have to get HR to endorse on your loan application.  Again, I'm not too sure what procedure applied to you back then, but this is the current practice today. 

Long story short - a regular joe that works in the private sector isn't eligible for the two banks above - unless their companies have a special tie up with the banks to facilitate salary deduction or they are governmen servants.  On that point, I'm pretty sure.