dear forumers,

I purchased a property which I got loan from Sime Bank. As you know, Sime Bank was bought over by RHB some years back. I have been servicing my loan till now. My questions:

1 - Is my current loan agreement valid?
2 - If not valid, what should I do? What should the bank do? Can I get the interest rate revised based on current rate?
3 - What is the best action you can recommend?

Thanks in advance

Should be valid. Try defaulting and see... the bank will come after you.

Seriously, RHB bank might have sent you a novation letter or agreement informing of the take over.

If you want to be sure call up RHB and quote your loan a/c no and speak to an officer about it.

U can call up RHB and chk. They might give u a new account no. to replace the old Sime Bank account no.

If my memory serves me right.

RHB (initially a Securities firm) bought over Sime Bank & changed its name to RHB Bank.

So Sime Bank is RHB Bank. No issue.

In cases like Southern Bank being bought over by Bumi-Commerce. The formal way of saying is BCBB acquired all assets & liabilities of SBB.