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!!!

Hi Onnying88

Are you from HLB? If so, is it normal for your latest housing loan offer letters to have the annual review clause and also the 'variation clause'?

Do all banks have this or only Hong Leong Bank?