Guys,
Need some opinion on whether it's ok if I purchase a house based on following condition:

House Price : 300k
Saving : 20k
EPF 2nd Acc : 20k
Monthly Income (after tax and epf) : 7k
Monthly Installsment based on (30year, 290k, 3.5%) : RM 1.3k
Other debts : none
Age : 26

I plan to buy the house for own stay, replacing my current rented room (RM 530/month), also prepare for my future family. Currently I plan to fork out 10k from Saving, and if needed, also the 20k from EPF for the downpayment. The monthly installment shouldn't be an issue.

I know that my current saving level is not healthy, as I only start savings few months back, so I am a bit concern whether now is right time for me to go on to purchase the house?  Or should I save more before I commited?

Also I also concern if I bought this house, with my profile, would I able to buy another house in 2-3 years?

Oh ya, I forgot to ask the main question as I post this in this topic : Any recommendation for bank loan?
Currently I am considering Maybank, 1-3 years : 2.38%, 4year and above : BLR - 2.0%.

Then think you better save some $$$ 1st. If 2k savings p/m is your best effort, make sure you have around 40k savings before you make the plunge.

Btw chief, 5k monthly expense for a single 26 yr old chap is rather high. Maybe you can figure out a way to reduce expenses and at least save 3.5k p/m. IMO, if you can save 3.5k p/m now, then you can comfortably afford the house now.

Good luck   

Need to ask some simple question. I'm not really knowledgable in this field.

Right now, p/month I'm paying around RM450 for my apartment.
If I refinance my apartment. My monthly repayment will be above the current or below.

the weekly thing is actually for ppl who is worry that they spend all the paycheck so they bank it in and the bank takes it weekly. if you want to save on interest, better you bank straight in the loan account the entire one month ahead. so instead of weekly, bit by bit, you get one a whole month principle reduction immediately

btw my letter also did not indicate the weekly thing.

However I think I wont go with UOB now as the offer has a few things in it which I am not too happy about. Things like a rm120 annual maintenance fee when my loan is not flexi type. And increase in interest rate if I delay in making payments.

interest is actually calculated on a daily rests so the weekly thing is moot.

You forget to calculate the petrol needed for 4 trip.

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Added on July 10, 2009, 7:46 amsaving extra few bucks, with a lot of harassment. =.= unless you are really free.

I don't want to play blaming game here; but I'd like to add my 2 cents.

Being a customer, you have your consumer right.

Being a banker, you have to comply with your professionalism.
As posted before - an application can be approved in 30 minutes, why make it 3 months? Too busy? I wonder.