It's a non-recourse until the day they sue you for bankruptcy.

I checked with Public Bank and according to the staff I checked with they don't have full flexi. You have to give notice of intention to redraw - is that correct? Has anyone else checked with Public Bank?


For Hong Leong Bank I got the offer letter already but I am not happy with it. I got the rate I wanted but there's two clauses I'm not comfortable with in the offer letter. Firstly, there's now an Annual Review clause. This is normally only inserted for OD Facilities. With this annual review, the bank can alter, change, withdraw, etc the facility upon doing the annual review. If that's the case, how certain can I be that the rate will not be changed in the future?

Furthermore, there's another clause in the offer letter that states that the bank has the right to unilaterally vary, change, etc any terms in the loan at its absolute discretion. From my experience, Hong Leong Bank is one of the most psychotic banks which likes to take away umbrellas on rainy days. The only reason I applied to this bank is because of the low rate they offered for full flexi ZEC loan. However, not that I've seen the offer letter, I am totally not comfortable with this loan and I urge others to be aware of this as well.

Can someone from Hong Leong Bank please comment?  As with all transactions, we have to study not only the price offered by the bank, but all the terms as well. The rate offered may be low but when we sign the offer letter, we will be locked in for 5 years and during that time, there's a 3% penalty if we switch. However, HLBB has the right to change the terms at any time.

And don't tell me that these terms are put in 'just-in-case' or 'it will never happen' because this bank has done just such a thing to my company before for our corporate facilities!!!

@Dreamer
Not that good with law terminology. But going by that, every loan is a recourse loan than as everyone has the opportunity to sue a person for bankrupt in the event that the debt is at the minimum of RM30k.

Ya,Public actually do have Fulll Flexi loan which called HomeSave.

But not much people know about it.Public bank also don't like to push or promote their flexi loan, Their banker always like/misseading to tell people flexi loan is not suitable for everyone. Normal people wouldn't get benefit from flexi loan, only those cash rich businessman suitable for it.

One of my clients that interested to apply flexi loan, and try with public bank, The banker told my client with this,
"Those agent or banker that have 'leong sum' wouldn't ask people to take flexi loan as flexi loan is not suitable for everyone. Only those cash rich businessman suitable for it."

And i personally also meet with one PB's banker, also told me the same, 'Flexi loan not suitable for everyone people,except cash rich businessman'

I think this is why ProComplex can't get the info about PB flexi loan, as PB's banker seldom or don't like to push their flexi loan.
Simply because their semi-flexi or normal term loan rates is alot better then their flexi,thus can get more sales by pushing their semi-flexi or normal term loan.

Ya,Public actually do have Fulll Flexi loan which called HomeSave.

But not much people know about it.Public bank also don't like to push or promote their flexi loan, Their banker always like/misseading to tell people flexi loan is not suitable for everyone. Normal people wouldn't get benefit from flexi loan, only those cash rich businessman suitable for it.

One of my clients that interested to apply flexi loan, and try with public bank, The banker told my client with this,
"Those agent or banker that have 'leong sum' wouldn't ask people to take flexi loan as flexi loan is not suitable for everyone. Only those cash rich businessman suitable for it."

And i personally also meet with one PB's banker, also told me the same, 'Flexi loan not suitable for everyone people,except cash rich businessman'

I think this is why ProComplex can't get the info about PB flexi loan, as PB's banker seldom or don't like to push their flexi loan.
Simply because their semi-flexi or normal term loan rates is alot better then their flexi,thus can get more sales by pushing their semi-flexi or normal term loan.

i want to refinancing my home for around RM100k for renovate, my salary around 3k monthly, can i know which bank has the best deal for house refinancing loan?

i was offered loan with PBB and SCB.

when i read PBB's clause, they really "kiasi" put in a lot of clause to protect themself, and i feel very uncomfortable although i was offered BLR - 2.3% for entire tenure. my PBB banker told me, if you think that your bank has "unfairly" raised the interest, and you feel that you are "cheated" you can bring this case to Bank Negara who will "fight" on your behalf. anyway, I signed up with them

for SCB it's totally different, i felt very comfortable with the clause, cause don't have all these "variation clause" but i didn't choose their Flexi loan becoz of i don't need the Flexibility to withdraw. for normal people like me who don't do business, flexi is very "harmful". for me if i put in money to settle the loan, i prefer the money to sit in there rather than take in an out, coz i still have to settle the loan no matter what. not to mention i have to pay RM200 setup fees and RM10 monthly maintenance fee, which i could put back in the loan to lower my interest

i was offered loan with PBB and SCB.

when i read PBB's clause, they really "kiasi" put in a lot of clause to protect themself, and i feel very uncomfortable although i was offered BLR - 2.3% for entire tenure. my PBB banker told me, if you think that your bank has "unfairly" raised the interest, and you feel that you are "cheated" you can bring this case to Bank Negara who will "fight" on your behalf. anyway, I signed up with them

for SCB it's totally different, i felt very comfortable with the clause, cause don't have all these "variation clause" but i didn't choose their Flexi loan becoz of i don't need the Flexibility to withdraw. for normal people like me who don't do business, flexi is very "harmful". for me if i put in money to settle the loan, i prefer the money to sit in there rather than take in an out, coz i still have to settle the loan no matter what. not to mention i have to pay RM200 setup fees and RM10 monthly maintenance fee, which i could put back in the loan to lower my interest

i was offered loan with PBB and SCB.

when i read PBB's clause, they really "kiasi" put in a lot of clause to protect themself, and i feel very uncomfortable although i was offered BLR - 2.3% for entire tenure. my PBB banker told me, if you think that your bank has "unfairly" raised the interest, and you feel that you are "cheated" you can bring this case to Bank Negara who will "fight" on your behalf. anyway, I signed up with them

for SCB it's totally different, i felt very comfortable with the clause, cause don't have all these "variation clause" but i didn't choose their Flexi loan becoz of i don't need the Flexibility to withdraw. for normal people like me who don't do business, flexi is very "harmful". for me if i put in money to settle the loan, i prefer the money to sit in there rather than take in an out, coz i still have to settle the loan no matter what. not to mention i have to pay RM200 setup fees and RM10 monthly maintenance fee, which i could put back in the loan to lower my interest

i want to refinancing my home for around RM100k for renovate, my salary around 3k monthly, can i know which bank has the best deal for house refinancing loan?

I thought for Flexi Loans, when you dump in the money, you can reduce the tenor of the loan by many years.  It could be 5 years shorter to finish the loan repayment.
If your monthly repayment is RM1000, for 5 years you pay less RM60,000.

Went to maybank, they gave some offer:

> RM250K loan
without Z.E.C. 2.38% (1st year), BLR-2.20% (thereafter)
with Z.E.C. 3.38% (1st year), BLR-2.00% (thereafter)

< RM250K loan
without Z.E.C. 2.38% (1st year), BLR-1.90% (thereafter)
with Z.E.C. 3.38% (1st year), BLR-1.70% (thereafter)

where Z.E.C. = Zero Entry Cost Promotion where bank will handle
-Processing Fee
-Legal Fees
-Disbursement Fee (up to 20K)

I'm planning to get something around RM280K, but I could pay RM100K up front, which
means I could just get a loan for 180K. Is this wise?

Should I get the Z.E.C or better to just get the non Z.E.C and hire some other party to deal with that. By they way what's Disbursement Fee?

When I was comparing the loan packages, RM200 or RM 10 monthly is the least important factor. RM 10 per month is nothing nowadays.

you think you can save 0.2% by going with non-ZEC, but get ZEC is better, in the end is cheaper or no difference coz all the legal fees will cost you about 3% of the total loan cost. without non-ZEC you have to fork out 3% upfront, for me i cannot find the money to pay upfront.

beware of some banks who will finance your legal fees, which means, they will add in the legal fees into your loan, but that means they get to earn more money.. i.e. loan RM200k, legal fee = RM6k, so they loan you RM206k, and you have to pay the interest for this amount. if this is the case, why not you go for ZEC, where your loan is only RM200k still, but the difference in interest is 0.2%.

you can actually shop around and go direct to banks instead of getting some agent to do it for you.. this way you know you can evaluate and get the best deal, although it is more troublesome.. but i think if u eliminate a middleman, things are much more easier to follow up by going direct.
@yunalesca yeah RM10/month means nothing to you and me, but it means a lot to some ppl, why not use it for charity than benefit the bank!

you think you can save 0.2% by going with non-ZEC, but get ZEC is better, in the end is cheaper or no difference coz all the legal fees will cost you about 3% of the total loan cost. without non-ZEC you have to fork out 3% upfront, for me i cannot find the money to pay upfront.

beware of some banks who will finance your legal fees, which means, they will add in the legal fees into your loan, but that means they get to earn more money.. i.e. loan RM200k, legal fee = RM6k, so they loan you RM206k, and you have to pay the interest for this amount. if this is the case, why not you go for ZEC, where your loan is only RM200k still, but the difference in interest is 0.2%.

you can actually shop around and go direct to banks instead of getting some agent to do it for you.. this way you know you can evaluate and get the best deal, although it is more troublesome.. but i think if u eliminate a middleman, things are much more easier to follow up by going direct.
@yunalesca yeah RM10/month means nothing to you and me, but it means a lot to some ppl, why not use it for charity than benefit the bank!

i am not happy that they charges RM 10 every month for flexi loan package.

haha.. i used RM0 to save >RM10

anyway, flexi loan or term loan.. if loan amount is RM100k, still have to service RM100k of loan.. nowadays got banks with term loan that does something like flexi loan.. (reduce interest if you put in more money, just a little more hassle to take out the money). for flexi, if i keep on put in and take money out frequently.. also don't really help to shorten the tenure much. for me, i think if i borrow money.. better to make constant payment and extra payment to shorten the tenure.. coz  a loan is still a loan.