Dear sifus,

I got my first islamic house loan approval from BSN.

It is a semi flexi loan and my only option, so i took the offer.

I understand that semi flexi loan allow you to pay additional amount but cannot withdraw the money back.

I also understand that i will get more discount on interest if i make extra payment on the first few years compare to extra payment after 5 years.

I am planning to take RM30k(my investment fund) from ASB to reduce the loan interest on the first year.

Is this a wise decision?
* loan detail *

loan amount : RM150 k

interest rate : 4.45%

tenure : 26 years
This will be my own stay property and i wish to get the most discount on the loan interest.

Yea good choice..

U might look at the 1% difference..
But overtime, if u finish this loan fast, then you dont have to pay the compulsory fire insurance policy on your loan which is a few hundred.. that in return is also a saving

I came across this thread coz I recently got approved for a BSN MyHome-i semi-flexi loan.

According to the banker, she say is semi-flexi. But when I asked about redraw facility or withdrawing the excess money that i put in, she say cannot withdraw. no such facility. Only can put in to reduce the principal. Cannot withdraw.

I'm confused. I thought the term flexi means can withdraw. Just that semi-flexi may be more troublesome (need to do over the counter and require approval) than full-flexi.

Even the BSN website has a Redraw Facility statement and states that the Redraw fee is RM10 per withdrawal.

So my question is, is there such semi-flexi packages out there like this where cannot withdraw the excess money? Or the banker don't know what she talking about.