Post had been moved to Article 2W. AIA & ING – The No Lock Penalty - How does it differ from banks?

This post has been edited by home_save: Dec 20 2010, 12:04 AM

Post had been moved to Article 3. Is BLR is going to rise? - Past, current and future

This post has been edited by home_save: Dec 20 2010, 12:10 AM


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anyone know if there is zec loan available for commercial leasehold property (shoplot)?

Jz placed a deposit yesterday for the purchase a condo unit. In order to enjoy DISB, we have to obtain a loan from the panel banks, which are Public, AmBank, Affin, Maybank CIMB and OCBC.

they all provide the same rate, BLR-2.2% thruout the whole tenure except OCBC, 1st 3 years, fixed at 4.5 if not mistaken and subsequent years BLR - 2.2%.

been offer flexi loan, some have to pay for RM10/month (no surcharge on withdrawal) some RM10 is waive but once withdraw have to pay for surchage.

can anyone enlighten me as to which bank's loan package like their benefit etc are better?

thanks.

how much is the property?


which flexi loan offer withdrawal without any fee and no maintainance fee of rm10 per month?

RM280k.

OCBC and others , which i cant rber.

This post has been edited by de.crystal: Sep 20 2010, 01:25 PM

ocbc only offer semi flexi..
not direct withdrawal..
need to go to the branch to do it.

what is the offer from CIMB?
they loan is bad when I apply to them.
they only giving blr-1.6 for amount below 200k

OCBC offers full flex.

CIMB and others offer BLR - 2.2%

rhb is giving -2.2 whole tenure, lock down 3 years (inclusive on construction period).

same like what other banks offer.

just curious to ask.... what is current offer rate from banks for loan more than 300K, 400K?

mostly blr -2.3
let me know if you manage to find something better

very good info, where can i find your link in facebook?

Dear Jesslynn,

As per update of 21 Sep 2010, industry is quoting their flexi-rate packages with these particular tiers:

(i) <100k, >/= BLR - 1.9%
(ii) >100k, <300k, BLR - 2% ~ BLR - 2.2%
(iii) >300k, <1M, BLT -2.3%
(iv) >1M, BLR -2.4%

These are the rate which applicable to whole industry, with provision of lock-in period (either full draw down/1st draw down) or other restrictions applied (ie. MRTA compulsory). If you intend to appeal for the waiver of restrictions, it will demote you to a less attractive tier. For instance, (ii) and (iii) are normally subjected to 3~5 years lock-in period (full / 1st draw down), if you want appeal for these waivers, rate of (i) will be applied to you.

Hope it helps.



This post has been edited by home_save: Dec 20 2010, 12:12 AM

so hwo do we decide which bank to take since all are offering the same package?

why is it stated in yr fb that the rate is blr-2.3?

This post has been edited by de.crystal: Sep 21 2010, 12:51 PM

Dear de.crystal,

The tiers that you read in my post is the general tiers that you can expect from the banks but does not account to exact similarity and it is only a reference of the expectation that you can have when you hunt for a loan. For instance, BLR - 2.4% only can be found in HSBC currently (with provision of lock-in period). To be frank, rate granted to individuals are largely dependent on individual's credit profile, trade-off of requirements and underwriting process. Most of the times, applicants have distorted idea that they can get a "particular rate" with a "particular bank". However, even a "worst" package can be the best choice for some individuals due to their personal need and preference. Rate might be similar but terms and conditions play a more important factor during a loan hunt. Thus, most of the times, we would advice our customers to provide their preferred features and documentations to us to find the best match of packages.

There are similarity over the rates and everyone will keep an eye on the money (especially the money that come out of your pocket) but please consider your need as well when you look for a loan.

Hope it helps.


This post has been edited by home_save: Dec 20 2010, 12:13 AM

sory a little dump here
for me, since all banks offer the same rate, it makes no difference as the installment would be the same.

just need to pick one which is more friendly i suppose?

Dear de.crystal,

No problem, we all learn from asking and sharing. It would have more significant differences when you loan size <400k as there is a range for tiers (i) & (ii). For instance, a real case of 230k loan might get a BLR - 2.2% in bank A while BLR -2.1% in bank B due to differential in underwriting process and requirement of the banks. We won't know exactly which banks will grant you the lowest rate, but based on our experience, certain banks (and sometimes, certain underwriters) will grant a lower rate for those clients who have certain common traits within their profile and that's why our matching service can come in place.

Installment might have slight difference as certain banks allow the financing of legal fee and the need of MRTA. Normally, with a same loan size, the variation of monthly installment is around +/- 1% of the monthly installment (applicable for loan < 2M).

To be frank, terms and features of the loan packages, implied interest payable and purpose of loans are far more important than the rate of the loan. Sometimes, our clients might look for efficient approval in regardless of rate and we will work on his requirement. Sometimes, our investors might look for no-lock in packages for under-con property with a trade-off of higher rate. Some of them might prefer fixed rate to hedge against rising BLR. All of the instances explain 1 major point, each individuals have their own need and preference, and you need to be clear of your goal in financing your property. And, we will work on your goal and achieve it.

Hope it helps. If you do need help in building up your goal and have a proper financing for your property, we can have a casual appointment and discuss about it. Definitely, no charges, but only available in Klang Valley. Cheers



This post has been edited by home_save: Dec 20 2010, 12:13 AM

Dear Kaifahalas,

You can find the link right after my initial as below.



This post has been edited by home_save: Dec 20 2010, 12:14 AM

so i need to haggle for better rate, i.e. more 0.1?
I am getting a loan for the sum of RM200k, planning to go for full flexi.

frm what i observe, HSBC offers the best rate in town.

do i apply loan thru you or what service do u provide?

This post has been edited by de.crystal: Sep 21 2010, 04:35 PM