got another offer:

1st 5yrs: blr - 1.80
subsequent: blr - 2.25
full flexi loan
tenure 30yrs.
loan amount : rm157,500

what will be the minimum money i should dump into the current account (beside the monthly installment) every month in order for me to fully maximize the benefits of full flexi?

if i were to dump in extra RM300/mth, will it be any use?

tried those fancy calculatorsavailable in the web but it seems complicated. any calculators recommended? or better still, can anyone calculate it?

thanks alot!

Pm me your email, i can send you a very usefull calculater from std chart.
You can put in any amount you plan to dump in every month and it will show you how much you can save in total and the tenure shorten to how many years. It even have graph to compare for you

i'm a little confused here...

can u elaborate how does a full-flexi loan's interest is always lower?

thanks.

the lower i mean actually is BLR-''lower compare to term loan''.....

Eg; Assuming loan amount and package are same... flexi loan will have blr-2, while term/conventional loan will have blr-2.15

Sorry if i confused you...

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Added on August 4, 2009, 12:57 amthere is no max or min benefits.....put in extra money eventually will reduce ur interest charged by bank...300 is doing good, if u put in more of course it will be better.....the best is put in 157k, immediately 0 interest..lol...just joking
seems like this offer u got is better than what u get previously

This post has been edited by Invinsible-Pp: Aug 4 2009, 12:57 AM

sorry, my loan amount is only rm121500..price of the house is rm135k

Which bank offers the lowest exit charges in the event of selling the property within 1-2 years?
Whats the interest rate offered for this type of package?
Loan amount 350K. tq

If you sure that you will be settle the loan in 1-2years, it's better for you to get zero lock in period package. Some do bank zero lock in package. But the legal fee have to pay by you, no zero cost package for it.

Or else, i think minimum of 2.5% from the loan amount will be the lowest penalty in the market.
2.5% x 350k = RM8750

Or some bank calculate the penalty base on outstanding amount. So maybe you can just pay whatever you have then the second year only settle the loan. It will reduce the penalty alot. But i'm not sure the T&C allow to do also or not. Have to check first.
But some bank also have state as minimum of 2.5% or RM10k whichever higher like that. So do take note about that also before you choose this way.

@onnying88,

you've got pm. tq.

onnying88, UGPM too....

Already send the calculator to your mail

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Added on August 5, 2009, 10:52 amYou too.
Anyone interested for the loan calculator?
best to calculate flexi loan, just pm me your email ok.

This post has been edited by onnying88: Aug 5 2009, 10:54 AM

thanks for the feedback.

im trying to avoid exit cost as much as possible... RM8750 also sounds quite a lot.
Just bought an investment property so most probably want to sell it within 1 year.

onnying88, UGPM too....

thanks onnying88.

there will be more queries coming up later. but this time in the form of MRTA.

anyone who is knowledgeable in this area? oh, wait... this might br the wrong place to post.

No problem, how the calculator can give some help
By the way if you interested in getting MRTA, you may ask me too.
I can provide you information like pros and cons and also quotation about MRTA, or MLTA

This post has been edited by onnying88: Aug 5 2009, 11:20 PM

no offence, perhaps you should check your facts before making that statement.

also a side note, whether if its a full-flexi, semi-flexi or a conventional housing loan, they ARE all Term Loan.

checked but im not sure bout your bank (OCBC)........my bank, Term loan is term loan and flexi is flexi.....no doubt bout that.....so far until today, term loan is still manage to get a better rate compare to flexi loan. confirmed

Actually bro Merce is correct, all the mortgage loan is term loan basically, just those flexi or semi flexi loan, is extra feature that add on with the term loan.
For more clearly,
Full flexi loan, it work with a TERM LOAN + CURRENT ACCOUNT that link together.
Semi flexi, it's a term loan but with extra feature which is the bank allow us to pay extra to reduce principle without charge or notice.

Correct me if i'm wrong.

Yes, term loan is still better in term of interest rate, but in term of interest saving, flexi loan can make a lot of different too.

i do agree with what merce said....perhaps,flexi is just a features added extra. What im trying to say is term loan will always get a better rate compare to flexi....but that does not mean flexi is terrible.
thanks for sharing, you guys just thought me some new things, the things which is viewed from ur angle.

ocbc
1st 5yrs: blr - 1.7
subsequent : blr - 2.4
Semi flexi loan
tenure 40yrs.
loan amount : rm121,500

maybank
interest: blr - 1.7
full flexi loan
tenure 30yrs.
loan amount : rm121,500
*my 'gaji' bank

ING
interest: 4.85% (fixed)
tenure 30 years
loan amount : rm121,500
*not ZEC

hsbc
1st yers : blr - 2.2
2nd - 5yrs: blr - 1.7
subsequent : blr - 1.9
full flexi loan
tenure 30yrs.
loan amount : rm121,500

which 1 should i take ?

looking for 287K loan, currently applied UOB /Std Chart, Hongleong n OCBC n Public can come offer. pm for details