my loan amt RM150k.

what about those with fully-flexi loan? it's good on the paper but that also means that i will have to dump my savings there to reduce my tenures.

This post has been edited by Winning11: Aug 1 2009, 12:54 AM

Yah, it's still within the locked in period which expect to end by Dec 2010. as of the T&C i still haven't receive the letter from them yet and according to the banker i'll get it by next week. What are the things i need to take notes? and can i neg more with them?

Any one has experience here?

while reducing your principal amount via EPF withdrawal,
how does EPF pass the money to?
credit to our account? credit directly to bank or.... ?

if not mistaken, EPF give a cheque...

Home Loan Amt Require = 90% of 315k
Status = Completed, Landed
Loan Tenure = 30 years
Location = Puchong

I hope can get a good interest offer.
PM me the offer... Thanks

i am wondering if it makes sense to refinance my homeloan. it's only 1 year plus down the tenure. i currently have BLR -1.95 whole remaining tenure and aroun 380k outstanding. this is zero entrycost, no mrta or anything like that, flexi loan, can make payment anytime, can withdraw anytime (no fee). am looking for a flexi-loan, zero-entry cost. any banks can offer a deal that makes it worth paying the early settlement fee?

Since it's just 1year+ , so it should have the penalty to pay if you refinance.
With BLR-1.95% currently , i dun think you need to refinance. The rate is consider not bad already.
You looking for zero cost, flexi loan and with better rate. Let say you get BLR-2.2%. The extra 0.25% saved is still not enough to cover the penalty that you have to pay.

So for your case, better just stay with it and after the lock-in over. Then only search for better rate.

onnying88,

thanks for the tip. do you think i can still check with my bank for a better rate? not sure if it's even worth it but well... a penny saved is a penny earned

No harm trying....

But I do feel that 1 year is generally too early to think about refinancing or even waiver
since the interest rates and loan features are generally still the same.



www.shchoy.com

This post has been edited by shchoy: Aug 2 2009, 10:46 AM

Ya, no harm trying.
Try tell the bank out there have a lot offer like blr-2.3 from others banks and thinking to refinance. See the bank can do anythings for you or not.
But do note that even the bank reduce 0.1% for you, the lock in period usually will be start counting for another fresh 5 years again.

Goodluck

I'll take it into consideration. i think i'll need around 10 years to finish so if the offer is decent and the lock in is just 5 yrs then not so much of a problem.

noooo.....remember full flexi loan's interest always lower if compare to term loan....So you must know which type is ur prefered.
Flexi loan not only can dump ur savings to reduce interest or tenures..there is still many more benefits. In another words, flexi loan is same as term loan, it juz than when u dump ur money inside , u can withdraw anytime (full-flexi).

For some rich invester, they said flexi loan is a kind of loan that applicant have right to decide how much interest will forgone to bank....thus, BLR-how much is not important for them/.....

thanks.

which also means if i dump in a certain amt of money (say RM500) per month, the interest payable will be reduced over the time, rite?

in other words, a full flexi loan is abit better than a slighly-lower interest rate (considering other T&C is the same?), rite?

thanks for the advice. i'm a total noob here.

A full flexi loan is better than a slightly lower interest term loan only if you take advantage of the full flexi capabilities eg. you change your paycheck's direct deposit into that account. Otherwise you're losing out on the full flexi benefits.

In Malaysia, nearly all the conventional banks all selling flexi loan but most of it are not that flexi at all.
SCB - Mortgage One & KLIBOR Mortgage, HSBC - Smarthome, HLB - Flexihome, UOB - Home Flexi, ABMB - Save_link_, CIMB - Flexihome, Ambank - OneAccount

So far for Malaysian banks, i've noticed only CIMB and Alliance Bank having flexi loan. However, lately, CIMB has replaced the flexi loan with flexi islamic loan where there is a cap on the interest rate. Others are just semi flexi but there still some im not yet fully understand 'how flexi it is''

SCB - Mortgage One & KLIBOR Mortgage, HSBC - Smarthome, HLB - Flexihome, ABMB - Save_link_, CIMB - Flexihome, Ambank - OneAccount

These all bank and flexi's name are flexi loan as long as there is a current account attached/link with the loan, very easy to check it's flexi loan or not. Even now EON bank also have flexi already. Why would you say the above are not flexi and only CIMB and Alliance have flexi? From above i think only UOB is not Flexi loan if i'm not mistaken. UOB is using semi flexi.

Just the T&C for each flexi loan will have some different for every bank.

Correct me if i'm wrong

hmmm..quite true, i have some typing mistake there...sorry for the mislead.

The T&C is the reason why i dont think it is Full-flexi....I miss out 2 more banks, Maybank and PBB definely not flexi enough to called Flexi-loan.....Current account link with the loan does not mean flexi. My point of view, Flexi is means withdraw process will not be hold by any means. ABMB's term loan also have current acc which attached to loan but the withdraw of money must be a minimum of RM5000...thus, it is known as Term loan or conventional because it is not flexi for people who dont have 5k in it. If a loan is link with a current acc then it is called flexi, they might be very confuse to client who needs to withdraw money often.

this is base on my experience with banks, ABMB, CIMB and HLB are full flexi.....EON bank im not sure bout it, but i will find out soon, few of my frens jumped to EON.

Onnying, corrent me if im wrong too, thanks for sharing

HLB, Alliance, CIMB, Std Chd, EON, HSBC.

These few banks above is offering Full flexi and it's my fav list to apply flexi loan for my clients. Can dump in and withdraw any amount you like with multiple of RM10. As you can withdraw and dump in with the ATM/deposit machine

Alliance bank do offer full flexi loan. The term loan that need RM5000 to withdraw, is just one of the term loan package they offering and it's not flexi loan already. This package is just a normal term loan and there is no RM10 monthly charge. So have to make clear with the bank which package you want.

To be more accurate. For sure all conventional Full Flexi Loan must have a current account that link with the loan and will have a monthly charge of RM10. But the RM10 can be waived if you take the islamic flexi.

i got just get offer from these bank

Bank O
tenure : 40 years
1st 5 years : BLR - 1.75
TA : BLR - 2.4
FMC

Bank M
tenure : 30 years
WT : BLR - 1.7
FMC

financier I
WT : 4.85% fixed
tenure : 30 years
Non FMC

which 1 shoud i take ? or should i negotiate further ?

May i know what's your loan amount and you interested with what type of loan? full flexi? semi flexi? term loan?


For me, the 3rd option is not in my consideration. As 4.85% is too high for current market. Yes, fixed rate can be peace of mind, but it still way too high for me to consider for it. And you r compulsory to get the a insurance with them.