Personal Loan, which banks offer the best deal?
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 Jun 28 2007, 01:00 PM, updated 19y ago
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#1
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Junior Member
253 posts Joined: May 2007  
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I am trying to get a personal loan, does anyone knows which bank offer the best rates? HSBS offers flat rate ranging from 10-12% depending on the loan, any other banks which offers better rate?
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Jun 28 2007, 01:13 PM
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#2
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Junior Member
253 posts Joined: May 2007
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QUOTE(Lcsx @ Jun 28 2007, 01:10 PM) I don't know but you can check with the other banks that offer OCBC, Al-Rahji, Standard Chartered. Al-Rahji currently very active in giving out loans, but i know nothing about this bank. Dunno got problem or not.. |
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Jun 28 2007, 01:43 PM
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#3
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Junior Member
253 posts Joined: May 2007
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QUOTE(funnyTONE @ Jun 28 2007, 01:18 PM) I took personal loan from bank rakyat. Repayment period of 10 years, interest given is 5.9%. If less than 2 year, I think lowest is 5.6%. The process took about 2 weeks from application to signing agreement. I've looked through their website. it seems tat they need a guarantor from the government / private sector. This is indeed a problem for me. anyway, the interest they offered indeed very low if compared to other banks. |
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Jun 28 2007, 05:50 PM
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#4
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Junior Member
253 posts Joined: May 2007
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QUOTE(nixk @ Jun 28 2007, 01:48 PM) if you talk about lowest payment,YES,it's refer to BANK RAKYAT. but the requirement very burden to us which working at private company. Izit? so is there any special requirement by Al-Rajhi Bank?? is it a flat 7.5 per annum? u got any contact tat i might be able to use?They said, i need to ask HR to do auto deduction from my salary into bank rakyat for every month,which it very complicated to HR to do that. So, i took Al-Rajhi bank,the second lowest after bank rakyat.7 working days.and it's 7.5% only per annum compare to the others bank 12 -14% per annum. |
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Jul 3 2007, 12:43 PM
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#5
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Junior Member
253 posts Joined: May 2007
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QUOTE(nixk @ Jul 3 2007, 08:31 AM) i've applied the loan last Sunday. but until now still no news from them. Some more they said we can know the outcome within an hour... but the bright side is, if i really obtain the loan, i'll be charged only 7.5% instead of 8.5%.. |
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Jul 3 2007, 05:42 PM
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#6
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Junior Member
253 posts Joined: May 2007
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QUOTE(arctura @ Jul 3 2007, 03:10 PM) i also hope to apply for this loan. Coz i applied during their promotion period whereby if they cant process my application within an hour, they will offer 7.5% for my loan. Now oredi more than 48 hours, if they do approve my loan, i definately can get the 7.5%.i just called this bank. they said the interest is 8.5%, but how come u can get 7.5%? another thing is is the repayment on reducing balance basis or fixed amount basis? But 8.5% is still consider low if compare to those that charge 12%. The interest charged is fixed and there will be interest rebate if you can settle the loan early. |
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Jul 13 2007, 08:17 AM
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#7
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Junior Member
253 posts Joined: May 2007
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QUOTE(Reformist @ Jul 12 2007, 10:59 PM) Actually I am just curious. Y u guys take personal loan(PL)? Are PL interest rates lower? Even if it is, what do you guys invest in? It's all depends on individual usage, some use it for renovating their house, some use it in investment, some even use it for their marriage or even buying a house or a car. but i intend to use it to pay off my credit card, it is better to be charged less than 12% flat year per year, than the 18% compounded interest charged by cc company. |
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