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 Car loan compensation fee

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TSZoo Howl
post Jul 2 2023, 08:30 AM, updated 3y ago

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Anybody encountered this before?

I took a Maybank islamic car loan with auto debit facilities. My bank that receive salary is CIMB. Because i forgotten to transfer the car loan amount to Maybank account and it has failed to auto debit because insufficient fund in Maybank. Usually maybank will auto debit that amount yesterday but i only remembered it today, so i quickly manually pay to the car loan account

Now when i see my car loan page in Maybank, i saw “compensation fees”, which in turn also is a late payment fees. How to clear it off? Not much just few cents. I tried to transfer RM1 to RM10, few attempts also cannot, it says i have exceeded the transaction limit which i had already increased

Anyone experienced this before? Mind sharing how to clear off the compensation fees
elimi8z
post Jul 2 2023, 08:39 AM

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Over the counter or next cycle just add the few cents to your usual amount
mushigen
post Jul 2 2023, 08:54 AM

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Auto debit will only take the fixed installment amount. You will need to check at branch to pay this. Alternatively, call them to ask whether it's ok to leave it there until you settle the final installment.

This is my assumption, and based on my experience when I wanted to pay the initial stamp duty + misc fees. I was given 2 options - pay at counter or pay during last installment when doing loan settlement, without incurring interest.

Your late payment fee may be a different case.
mushigen
post Jul 2 2023, 08:56 AM

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QUOTE(elimi8z @ Jul 2 2023, 08:39 AM)
Over the counter or next cycle just add the few cents to your usual amount
*
For auto debit, you cannot adjust the payment amount yourself, based on my experience. The system won't accept.
TSZoo Howl
post Jul 2 2023, 10:21 AM

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QUOTE(elimi8z @ Jul 2 2023, 08:39 AM)
Over the counter or next cycle just add the few cents to your usual amount
*
QUOTE(mushigen @ Jul 2 2023, 08:54 AM)
Auto debit will only take the fixed installment amount. You will need to check at branch to pay this. Alternatively, call them to ask whether it's ok to leave it there until you settle the final installment.

This is my assumption, and based on my experience when I wanted to pay the initial stamp duty + misc fees. I was given 2 options - pay at counter or pay during last installment when doing loan settlement, without incurring interest.

Your late payment fee may be a different case.
*
Ya thats the thing. Misc fee can be paid first or last.

Late payment fees not sure when…
SUSskyblack4492
post Jul 2 2023, 11:02 AM

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Parking want to know too. My credit card expired make my monthly auto payment stop for insurance and car loan
killdavid
post Jul 2 2023, 11:10 AM

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QUOTE(skyblack4492 @ Jul 2 2023, 11:02 AM)
Parking want to know too. My credit card expired make my monthly auto payment stop for insurance and car loan
*
Can use credit car for car loan payment?
poweredbydiscuz
post Jul 2 2023, 11:12 AM

 
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QUOTE(skyblack4492 @ Jul 2 2023, 11:02 AM)
Parking want to know too. My credit card expired make my monthly auto payment stop for insurance and car loan
*
How you pay car loan with credit card?
SUSskyblack4492
post Jul 2 2023, 11:36 AM

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QUOTE(poweredbydiscuz @ Jul 2 2023, 11:12 AM)
How you pay car loan with credit card?
*
-

QUOTE(killdavid @ Jul 2 2023, 11:10 AM)
Can use credit car for car loan payment?
*
My bad use debit card. If not enough money for some month then withdraw cash from crdit card to put in debit card.

 

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