I have a house loan with RHB and ive been trying to call their customer support for MONTHS but no one answers the freaking call! All i want to ask what is the difference between these 2 terms.

Payoff amount and Loan outstanding

Now this is what i see on my online account for example

Payoff amount: RM500,000
Loan Outstanding: RM490,000

Now if i want sell my house or do a full settlement to clear the loan, the amount i need to pay RHB bank to settle full payment is the "Payoff amount" right?

Base on the English understanding, i believe that should be correct right? Please correct me if i am wrong.

Reason why i am asking this is because i plan to sell my house and i want to know what is the full payment i need to cover from the selling price i sold.

I think payoff amount is the total you need to pay over the whole duration of the loan. Outstanding should be the loan that is left.

Ahhhhh, in that case so i need to settle the "loan outstanding" only la. Cool thanks for that info!

Any one else can give feed back?

How long have you been paying your installment ?

Any lock in period ?

3 years ++ and i dont think got lock down as i took the flexi package. However ive been trying to call RHB to confirm but stupid call center just cant get through

why not visit the branch where you took your loan?

Thing is i am at overseas now, because of the lockdown i cannot return to malaysia so it makes things super hard for me to deal with

Anyway i found this on the internet

https://ringgitplus.com/en/home-loan/RHB-My...#ReadMoreReview

Looks like i am being locked down to 3 years if not i kena 1%. Now i made my first installment back in June 2017. Now that i have reached 3 years as it is already July 2020. Does that mean i can escape from the lockdown period if i settle now or i must hit the 4th year ( Jun 2021) to enjoy the no lock down penalty?

Less than 5 year you have to pay sales tax to our gov!!!

Please check properly.

You mean the real property gain tax right? No need to pay that until 2021 year end in light wit h the covid19 that PM8 said in early June.

I think is for residential land title property only..

As far as i know and i asked my property agent about this, they said its for all house sales, not just for residential land

This post has been edited by barney: Jul 8 2020, 11:14 PM

Very experienced agent? So far, I encounter's agent like know nothing about law.. they anything just ask refer lawyer.. even lawyer also not sure for this exemption but usually is for residential land title.. same like the stamp duty waiver for first home house buyer..

i asked a lawyer on this and he said it is for houses/condo with residential title only.

however, they haven't gotten any clear instruction from the government la.

exactly this, that's why we agents have to ask lawyers on these sensitive matters but it seems they also can't give us a definite answer as they haven't gotten any clear instructions from the government too.


For now, it is only applicable for residential title, commercial under HDA not applicable

yeah i get ya point. Oh well, lets see how my this agent and potential lawyer will handle this. so far they said no kena la but lets see. the RPGT is not limited to the selling price right? If lets say above 1M selling price also will be exempted IF eligible

If is 3 years, then from jul 20 it should be the outstanding amount.

This post has been edited by mini orchard: Jul 9 2020, 06:29 AM

let's see now. cost associated with disposal of property:
1. lawyer's fees
2. stamping fees
3. agent's fees
4. discharging of loan fees
5. redemption statement fees
6. retention for lhdn rpgt fees
7. and of course the outstanding loan itself

What is no 2 ....Stamping for what document ?

RPGT ... only after 2021.

To be accurate, request the redemption letter from your bank, RM10

I have a term loan few years ago, loan balance around 50k

I plan to full settlement, then bank issue me redemption letter stated require around 55k, which 5k is the penalty that I paid the loan too fast (not the lock in period, is I over paid every month)

I ignored and stop payment for 6 months, request redemtion letter again. Then this time around 51k only

haha, what theory is this

This post has been edited by StupidGuyPlayComp: Jul 9 2020, 09:36 AM

I spoke with one of my previous lawyer that was helping me as a house buyer. I told him about the RPGT exemption and they said its all talk only, no black and white by our gov yet. Even if you sell your house today lets say, you still kena the % RPGT.

I find that a little stupid la since PM8 already announce it effect starting June until year end 2021 got exemption, isnt that good enough for something the gov to draft out something simple? The lawyer said usually wiill take 2-3 months for the black and white to come out from the announcement made. Oh well, only way to know is to try out now

Basically, assumed there are 2 things
1 is settle your loan
another is maybe to sell your property.

Loan amount is the outstanding amount after minus off your pre-payment (or advance principal payment)
Payoff amount is the amount u need to pay, which it's the outstanding loan + interest which calculated daily. (which you supposed to find slightly different figure daily even no payment done into this account), something like that. So this supposed is the amount you need to pay with confirmed date.


Basically each bank has slight different way on calculatiing the interest calculation cut-off-day and flow, or different way on monthly principal installment amount, for flexi loan.

This post has been edited by kinnasai: Jul 10 2020, 03:58 PM