As long as u didn't steal the $ u shouldn't be worried even if ur questioned by the authorities for it was given to you

@virus,
Is an FD statement good enough as supportive document to bank for housing loan? I could put in RM1m today just to show it to the bank and then take it out immediately after the loan is approved.

@SKY 1809,
Yes U can pledge the FD to the bank but that doesn't mean U won't withdraw the $ from the bank upon approval of the home loan.

@viruz,
scorgio is right - if U haven't evaded taxes U shouldn't get into problem with LHDN. As to how U got the $? Well, tell them it was a love gift *grins*

Thankfully, I haven't yet been questioned by LHDN but like I said, if U haven't done anything wrong there's nothing to worry about.

@scorgio,
New car above RM100k is quite common isn't it?

This post has been edited by tinkerbel: Jul 9 2008, 02:19 PM

@SKY 1809,
I don't know of a way to default payment to banks. What I'm trying to say is that I'm not too sure if banks will take into account the $ U have in ur FD when processing a home loan because that $ is withdraw-able anytime.

The discussion is not about being unable to withdraw the $ in FD or sell the house but more towards getting a home loan approved with insufficient monthly income to pay monthly installments and using $ in FD to proof that U haf the financial capability to pay.

@scorgio,
I haven't done anything wrong so I don't see Y LHDN officials should waste time knocking on my door

@scorgio,
If U pledge the FD to the bank then perhaps it's possible but to show the bank U haf $ in the FD I don't think that is workable. Ah well, I'm no banker so I wouldn't know plus I haven't been in such a situation before either *grins*

Most of us CAN afford it; we just don't wish to spend too much $ on something that depreciates too quickly!

@SKY 1809,
I suppose if it's a 'pledge' it should be possible. It perhaps might be a better idea to get a flexi loan and put the $ available in FD to contra off some interest rates on the home loan package *shrugs*

@SKY 1809,
I am not discussing MY issue - I merely commented on the possibility of getting a home loan through show of FD receipt!

@scorgio,
OkieSs... now I know

@scorgio,
Yeah.. a friend sold it to me for RM1 *grins*