good rate.

Ya like MRTA mortgage reducing insurance. If you kena jackpot second year fully repay car loan can cancel n get money back from your insurance

It’s a Personal Accident insurance. It’s not a MRTA like property

You think too simplistic. You gotta calculate the Effective Interest Rate for loan.

No such thing

Har really? If ownself got PA already how?

From my understanding, loan rate is based on multitude criteria:
amount (higher loan amount, better rate),
tenure,
type of car (not just ckd/cbu but also brand name),
new/recond/second hand,
your credit rating

Some banks may give slightly better rate but difference not very big. Usually, I just go for the 2 best rates & nego. Some banks may force you to take credit card together with the loan. If above certain age, have to purchase insurance on the loan amount.

This post has been edited by Lanchio: May 28 2024, 03:58 PM

Another option is must take up Auto Life Takaful Plan (more expensive). Whatever it is you need to buy their other financial product in order to get that low interest

It all depends on the loan amount. Mine was 250k / 5 years @ 2.3% something before double OPR increase. The fewer u loan and shorter period the higher the interest. But for ur case only 30k bunga over 5 years also pun tak banyak. Other banks pun more less the same 0.5% difference only.

This one ok lah since add premium for insurance about same as other banks, but this get extra insurance.

Anything below 3 is good rate

2.82% for new + local

is it variable rate?


maybank offer good rate for variable + >80k

if u pinjam <80k will be higher rate


source: when my waifu buy another myvi early 2024 from maybank

This post has been edited by fantasy1989: May 28 2024, 09:12 PM

LMAO you have no clue how this works do you? A fixed rate loan at 2.5% is more expensive than an FD yielding 4.0%.

Di count for me genius. The rate for 5y 60k loan at 2.5% VS a 60k 5y FD at 3.3%.

I counted 7500RM for 2.5% VS 9900RM 3.3%

Try ask bank rakyat

If you set up a RM50k monthly rolling FD at 3.3% and withdraw to pay your monthly car installment at 2.5%, you'll exhaust the FD before the car is paid off.

My calculation below is for my loan at 2.24%, I need an FD of 4.184% to match the car loan interest.



This post has been edited by contestchris: May 28 2024, 10:08 PM

i believe he meant keeping that 50k FD untouched then monthly installment with additional cash from else where

No tricks can beat the banks lol

It's not an apple-to-apple comparison, and you're losing money anyways (the same logic applies to that "cash from elsewhere").

Agree with u

public bank lower 2.77%

very nice already..
I bolo 45k for 5 years.
3.23% PBE.
Used Conti car.

This post has been edited by shyan90's: May 31 2024, 03:50 PM