Personal Loan, which banks offer the best deal?
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 Oct 23 2009, 10:20 PM
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#1
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Junior Member
33 posts Joined: Oct 2009  
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QUOTE(suthae @ Oct 23 2009, 02:53 PM) Hi Guyzz.... I've just graduated with a Degree, working in an office for a salary of RM3.5K for almost a month now, wish to take a personal loan of about RM10K for D/P for bike... Am I eligible??? Can anyone help me??? Thankx!!! U need to be at least 6 months working at your current job. FOr any enquiries on personal loan please contact 012-5802447 |
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Oct 28 2009, 10:15 PM
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#2
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Junior Member
33 posts Joined: Oct 2009
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QUOTE(Eng_Tat @ Oct 28 2009, 11:04 AM) what is the best rate for pl now? want to used cc to apply can i apply more than my cc limit? also i still owe cc 17% of the limit. Its very difficult to say what is the best rate now as the rate varies according to income level, tenure period, etc. from bank to bank. And NO. You cannot apply more than CC limit. Infact it will reduce your CC limit. For example, CC limit is RM6k. Apply to buy motorbike 5k. So CC limit reduce to RM1k. Anyway its always better to take personal loan. Safer and longer repayment period. Always choose a payment amount you are comfortable with. Don't let it spoil your payment record. If you owe credit card more than 2 month, changes of you to obtain a Personal loan is very slim. If you want to know more about personal loan. Contact me directly at 012-5802447. I'm a loan officer. |
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Oct 29 2009, 07:26 AM
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#3
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33 posts Joined: Oct 2009
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QUOTE(Phoeni_142 @ Oct 28 2009, 10:38 PM) 1. No, I disagree with u that u can't get a personal loan more than your CC limit. A limit with 0% utilization has no bearing whatsoever on the Debt Service Ratio or LRR ratio evaluated by the bank. 1. Maybe I din explain myself well enough. I did not say you cant get a personal loan more than your CC limit. I'm saying if you are using your credit card to make installment, you cannot apply more than your CC limit. 2. Having an outstanding balance on your on-us or off-us credit card is a different issue alltogether. Obviously that will have a bearing on your credit standing and the quantum of the loan approved. 3. Not all banks charge based on risk based pricing like Stan Chart, for example. Some banks charge a flat rate irrespective of income level, tenure or whatever. So - I suggest customers really shop well. 4. Lastly, It is misleading and a bit sweeping to say that it is "safer" to take a personal loan. It depends on one's objectives. Let's face it - the interest you pay on your Personal Loan is going to be way higher than a credit card, once u convert it to an effective rate. It's just that most customers do not know what the heck a flat rate is. However, if u r talking about cash flow mgmt - then I agree with you. The monthly repayment on a p.loan can be more manageable as the loan tenure stretches up to 5 years or longer. PS - i'm not a sales agent. So, i'm not in competition with anyone. Just stating my points. 2. Yes, this is obviously what I'm talking about. If you owe the bank an outstanding more than 2 months. You are simply telling the bank I'm not a good paymaster. So changes of you getting a PL is almost near zero. 3. Like I said earlier. It varies from bank to bank. But do keep in mind. Every bank has its pros and cons. I would say choose the bank which suits your needs best. 4. Yes. manage cash flow and liquidity. When i mean safety, I mean feel confortable paying the amount every month without having to starve yourself to pay back. There is flexible tenure which like said earlier 5 years or longer unlike credit card only 1 year. And if you are unable to pay the outstanding later convert to interest rate of a whooping 17.5%. However, banks do offer rates which are way lower than CC even after converting into effective rate. Like what you said. Customers really just need to shop well. |
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Oct 29 2009, 10:46 PM
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#4
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33 posts Joined: Oct 2009
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Yes, very detail explanation on the CC. You basically have given a clear explanation on that. Example of banks which offer low effective rates are like OCBC, Stand Chart. Some effective rates are affected by tenure period, the flat rates of course and the loan amount. But as far as I know, these rates are only offered to super high income earners. This post has been edited by neveek1: Oct 29 2009, 10:47 PM |
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Oct 30 2009, 07:20 AM
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#5
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Junior Member
33 posts Joined: Oct 2009
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Yeap. Bank Rakyat for gov. If your private you can always contact me 012-5802447. Though my bank rates varies according to income level. But Currently the lowest effective rate offer by my bank is somewhere around 10%. (flat rate 5.5%pa)
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Oct 30 2009, 09:42 PM
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#6
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Junior Member
33 posts Joined: Oct 2009
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Thanks Phoeni_142! But I'm doing just find right now =)
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Nov 2 2009, 12:02 AM
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#7
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Junior Member
33 posts Joined: Oct 2009
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QUOTE(changjie83 @ Nov 1 2009, 06:26 PM) i saw one promotion HSBC Amanah, what is "Termasuk Sumbangan Takaful" and "Tanpa Sumbangan takaful"? i know one are cheaper repayment if compare both. Some loans are inclusive of Takaful coverage while some are not. Takaful is a form of an Islamic insurance concept. It basically protects you and your love ones in the act where you are unable to repay the loan due to death or temporarily permanent disability. |
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Nov 10 2009, 01:04 AM
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#8
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Junior Member
33 posts Joined: Oct 2009
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QUOTE(mdnurman @ Nov 8 2009, 07:31 PM) Hi there, have replied you. check your pmGross income RM5000 (based on payslip only- not including oncalls and locums) Occupation: Doctor working in governemnt hospital Which bank can give the most amount for personal loan? How much? Which bank can give the best rate? Prefer islamic banking. Plan to purchase a clinic. Any special package? Thanks. |
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Nov 10 2009, 09:40 PM
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#9
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Junior Member
33 posts Joined: Oct 2009
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QUOTE(alankw88 @ Nov 10 2009, 01:25 PM) Hi, I've pm you!I need a personal loan about 30K. My salary is about 8.4K per month. What is the best rate I could get? |
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Nov 19 2009, 08:55 PM
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#10
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Junior Member
33 posts Joined: Oct 2009
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Its just that banks categorized people under MLM schemes to be under high risks occupations.
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Nov 28 2009, 12:04 PM
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#11
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Junior Member
33 posts Joined: Oct 2009
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QUOTE(alcatrez @ Nov 27 2009, 07:55 PM) guys, looking to borrow rm 10k. Depends on your monthly salary bro.i stay in sungai petani kedah. what's the best deal? And also your employer, years of service, and job position. |
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