i have loan from RHB RM120,000 since 1999..
the last statement i received, i still have balance RM123,XXX..
every months i pay is RM1030 (previously was RM967, one year ago)..
i still have 200 months to go..
why my balance more than the time i loan..

i heard if refinance can help me to save some money, is it true..
since i don't have time to go to bank..
so trying to get some information from here..
may be i can get some helpful information from some professional here..
thanks in advance..

Your account balance should reduced accordingly, if it is now RM123K... something is amiss.

Check with your Banker in RHB first before deciding to REFINANCE.

Maybe you are being overcharged or something.. need to check it out.

Once you REFINANCE, doubt they will check it out for you.

thanks..today go to bank and check it out..

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Added on March 19, 2009, 9:09 pmcome back from the home branch..ask the officer,but he didn't give any answer, just ask me to write a letter for revise the interest rate..the rest what ever i ask, the answer is "not confirm, just wait the approval from bank" what is the new rate i may have, "cannot confirm, just wait until the approval come out"


This post has been edited by e_trade_pj: Mar 19 2009, 09:09 PM

Lol. It's either that comment or they shoot a rate at you then say "subjected to management approval" Bankers line I suggest you start shopping with other banks as well.

hi guys, what are the latest offer from those insurance companies for Fixed rate home loan? AIA still offering 4.99%? i heard ING is offering lower fixed rate. anyone can advise? tqtq

4.99% frm AIA is NZMC, for ZC its 5.29% if i'm not mistaken.
ING NZMC= 4.85%, ZC= 5.25%

Dear forumers,

I am in need of financial advices now. Recently, my dad has been having financial difficulties and now is thinking of mortgaging the house as a collateral.

My question is, what are the requirements for securing a 100k loan from bank? How long would be the loan period and interest rate?
I am not sure about this though.

The house that would be mortgaged is not under any previous loan, mortgages or anything. It's owned by my dad and it's a double storey terrace.

If the house could be mortgaged, what are the requirements and which bank would be suitable for my dad to apply?

Thanks.

If there's any questions or inquiries, please ask me more as I am new to this thing.

Edit: Is there any other way to secure a 100k loans without mortgage? I am not sure. If there is, please provide more information about it.

Thanks.

This post has been edited by Hikaru Kenshin: Mar 25 2009, 07:23 PM

Refering mainly to just mortgage, the requirements depends on your father's age, whether he is still working or is he a sole proprietor...
The loan period will be either 65 years or 30 years which ever comes 1st.
Interest rates vary from bank to bank. But it should be around BLR-1.75%

If your dad is interested in mortgage he will have to decide what package to choose. Whether to go for Flexi loan of Term Loan or FMC or NFMC.

Whichever bank that is chosen will have to depend on your dad. If mortgage is the way you want to go I can be able to assist but I think it's best to speak to your dad so that I know what he wants.

I got an offer for loan as following:-

Total loan : RM281K (loan + MRTA + FEC)
MOF : abt 69%
tenure : 30 yrs
loan type : Flexi loan + current account. Cheque book and ATM card provided with no charge for withdrawal. RM200 for one time setup fee and monthly fee of RM10. Daily interest calculation.

for first 2 yrs it is BLR - 2.35 then follow by BLR-2.20 for whole tenure..


Do you guys think it is good deal?

terms seem fair, except for one point.

the MOF. U r willing to foot up 31% (approx 120K) for this? I wouldn't.

Initially, i planned to pay more than RM120K using my own money as i don't wan borrow so much from bank...

own stay or investment?

if its a flexi, why not increase the MOF and dump the saved cash into the current account? works the same isnt it?

emmm...never think of that...


btw, agent just called.....his manager decided to give me BLR-2.25 for whole tenure...which i think it is really good deal now...

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Added on March 26, 2009, 3:11 pmfor own stay...

This post has been edited by sukhoi35mk: Mar 26 2009, 03:11 PM

Well, chief.

The terms are good. But one of the main reasons they could offer u a lower rate is because your application less "risky", due to your hefty 120K downpayment.

I assume u have more than enough cash and have thought about your decision thoroughly to plonk down 30%. However, for poor people like me - I need that 120K for other potential investments.

So - if u r comfortable with your decision - be happy with it.

cheers bud

Oh, thanks for the information.

hi may i know how to to get the bank offer letter???i apply for cimb islamic loan since last fri duno when can i get the letter of offer.please help..

Check with the loan officer you submitted you case to. Prob havnt been approved yet unless you've already gotten a call.

at least 1-2 week depend how fast they wanna process it.....

anyway if u interested to apply from public bank

do pm me....

no harm to try more bank rite?

Is your loan an Islamic Loan?

If it is Islamic loan, then it's normal, because your statement will show out the total 'interest' for remaining years + balance principle.
Others Non-Islamic loan will only show the outstanding principle in your statement.
This is due to Islamic law that bank cannot make profit by earning interest. So they have to change the way to show the 'interest'.
That's why you will see your statement after 10years of repayment, your outstanding still over the original loan amount.

I have a client also get shocked when he saw this lastest Islamic-loan statement after 5 month of installment showing his balance RM240k+ where the original loan amount only RM160k.
But everythings is clear when i when to check in the bank. Bank will show you total real outstanding principle you still own the bank. It Rm150k+ in my client case.