nice, do you call in or walk to the branch that you signed up for? i rarely deal with banks so I'm not entirely sure if these kinds of things can be done through the phone. 

With the cash back they would re-up the financing to the maximum amount right? So basically they would be returning the capital to you.

One disadvantage in this is that this would not increase your tenure to the maximum available in the market, but it helps with not losing the one-month distribution. Your call.

What I do not like about this is that, if they could have done so, the renegotiation, why would they need to make us apply? Just do it. But no, they prey on the ignorance.

Some of my clients have rates of 5.50% from Harimau. So they are just going to get 5.4%? That is lame.

What about these things eh? Not just asking you, but others as well if you guys have the chance to speak to your bankers:

1. Will the spread change permanently? Because banks can do multiple-tier rates that changes over the course of the loan

2. Will the tenure follow the current tenure (no changes, no reset), or will it be rest to the new available tenure. Which also means for some people, their tenure would be reduced

3. How will (2) affect the installment?

What good is 0.1% less than 5.5%?


Can you ask them the above? Hehe

Mr @wild_card_my

Need your opinion. Just spoke with my banker. My current interest is 5%. He's willing to come down to 4.8% (only) and a tenure of 20 years due to my age. No Takaful. The repayment after this exercise is 17 ringgit more than what I'm paying now. so 17 x 12 x20 = 4080 more over 20 years

The interesting part is....When I mentioned that I may not be able to take my 400k loan again, because of PNB restrictions, he said that I am able to. Because I don't have to surrender my sijil. So the sijil remains there while they just revamp the loan part. Gone are the days when u need to surrender the sijil and reapply. This true?

Also does that mean I won't lose any dividends since the sijil remains?

Maybank still max age up to 65 not 70. So if I'm 45 this year in august (currently 44) can I take 21 years or 20 years only? 21 years would reduce my repayment by a little bit more i guess.

I'm considering as I can get back ammortised value of maybe 15k to invest somewhere else. at 5% compounded over 20 years will nett me 25k profit. so 25k - 4k equals a nett gain of 21k

...or I could just go on a holiday!

What do you think?

Now you would be a refinancer's target market, despite losing a single month's distribution, you get to extend the tenure if you are younger than 35 years old, provided that your tenure is shorter than 30-years to begin with; not to mention the 4.65% (plus 0.5% stamp duty) and 4.75% (no additional stamp duty) rates that are lower than 4.80%.

MBB knows this, so they do not have to unnecessarily give the best rate in town, but just good enough for people to question their decisions and bring them up in forums     

If you don't lose out on the 1 month distribution, like what MBB promised me... then it's a no brainer.

Get back that capital and make it work for you, not the bank!

Well, I would not blame Reonix91 for this misinformation then. That blame lies on his (retail) banker. In my opinion bankers are not trustworthy because they are primarily trained to sell, and not to consult. They would rather have you be stupid than to know your stuff. It is not unimaginable that they would tell you mistruths because they have other products to sell you based on their KPI

One example would be their unit trusts sales KPI, and upon hearing that you have cash to invest and have already maxed out your ASB loan, he devised a plan to cross-sell the bank's unit trust products

All this bullcrap about forcing their customers to sign up the MRTA or Takaful against their customers better judgement is all because of the bankers and their KPI set by their overlords - the banks themselves

Sekian, my rant against bankers. I was one of them, and never liked them.

which bank?
I saw BSN website, BR + 0.85%. And their BR is 3.35%, I think. So, that's 4.2%?
I've never taken any loans so I'm not sure if my logic is correct.

Stamp duty - have to pay regardless of the bank?

and the interest rate cannot be negotiated? If you're a premier banking customer, can get a lower interest rate loan?

Any news on the ASB2 returns? Might be between 5.0 to 5.25% i guess..

MORATORIUM PEMBIAYAAN BANK SEMPENA WABAK COVID

Apa itu moratorium?

Moratorium adalah penangguhan rasmi bayaran ansuran bulanan daripada pembayar kepada pihak bank tanpa caj penalti atau denda.

Ini bermakna pelanggan bank tidak perlu membayar ansuran peribadi atau rumah atau kenderaan atau lain-lain selama 6 bulan, bayaran ansuran akan bersambung setelah tempoh moratorium tamat.

Persatuan Bank dalam Malaysia mengumumkan ahli-ahlinya komited dalam membantu rakyat Malaysia menghadapi Perintah Kawalan Pergerakan kerana wabak COVID-19 ini.

Antara bank atau entiti pembiayaan yang telah secara rasmi membuat pengumuman menawarkan moratorium kepada pelanggan mereka baik individu atau syarikat kecil dan sederhana adalah:

1. Bank Rakyat
2. SME Bank
3. TEKUN
4. Bank Simpanan Nasional
5. Public Bank dan Public Islamic Bank
6. RHB Bank dan RHB Islamic Bank
7. AgroBank
8. Hong Leong Bank dan Hong Leong Islamic Bank
9. Maybank dan Maybank Islamic
10. Bank Islam Malaysia Berhad
11. Bank Muamalat Malaysia Berhad

Permohonan moratorium boleh dibuat di cawangan-cawangan bank atau melalui telefon bank masing-masing.

You know about spread? Spread cost? Margin etc?

If cost to borrow just 2% and return to savings in ASB stays at 10%, then everyone will dump few million (under company name) until ASB as example. Thats free 8% profit almost, and bigger amount bigger portion worth this 8%.

Since cancelling my asb loan I've put my money into myetf and pma. So far on track for 9-12% return per year. Once people open their eyes, they will see there are others giving way more return compared to asb.

If we're talking about asb loan it's even worse because you basically get 1% after deduct interest rate

Thanks.. got it from loanstreet.. not worth it 😅

Went to pnb today and transferred all my money in asb2 to my daughters acc..

And the staff there confirmed that i as the guardian can withdraw any amount that is available anytime i want.. no limit..

So anyone who has maximized asb and wanna add in more fund can open under your children and use their asb quota to gain extra dividend rather than putting in asb2 or asb3