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Added on February 8, 2010, 5:45 pm

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Added on February 8, 2010, 5:47 pm

may i know what's your situation? what you like to do on ur current loan? settle partial but not fully?

Hi this is Coby from UOB Bank.

Our bank offer BLR-1.8% and we do offer weekly instalment which can help you save a lot compare to monthly instalment.

If you are interested kindly drop me a mail or call me

Thanks

Coby Teoh
012-2103400
UOB Bank mortgage specialist
Chocobes2001@gmail.com

prepayment will do good effect on our housing loan if compare to car loan.

but some time you have to depend on which bank & what type of loan also.

some term loan if we do a prepayment will treat as advance payment,
which means that you may no need to pay for next month/ next month installment deduct whatever you extra pay before.

some loan if we do a prepayment will direct deduct principle, so call - semi flexi loan
is deduct all whatever prepayment direct to our outstanding loan. but next installment you have to pay back same monthly installment.

you may pm or contact me direct if still got any question or need some help to save $$

Thanks

If u need a mortgage amortizing software, i will send to your email.

If ur loan is RM100K, 30yrs, 3.75%, instalment RM600.

U pay additional RM50/mth.

Now Ur loan become RM100K, 26yrs, 3.75%, instalment RM650.

Ur loan been shorten tenure.

Regards the principal deduction, it is automatically.

Now ALL banks ( MBB,CIMB,PBB,RHB,HLB,Ambank,EON,Affinbank,Alliancebank,StandChart,UOB,OCBC,HSBC,Citibank) are the same.

Just pm me your email, i send you a flexi loan calculator that can show you everythings you need in detail.

In fact, the bank's rate "standardization" at BLR-1.8% is the "gentleman's agreement" among all local banks and some foreign banks.

This rule imposed by Bank negara is just banker's rhetoric, which means bankers use Bank negara's name to tell customer and make it more persuasive.

All banks previously faced the profit margin droping drastically when compete on market share, where slash interest rate to attract the customer.

However, when one of the foreign bank slash until BLR-2.5% once all the bank raise out this meeting to discuss on mutual matters due to several foreign bank reaching the bottom line of cost of fund. For example, UOB's cost of fund is around 2.8% because their fund mainly based on their priority customer and they offering them above 2.5% FD rate. Adding provision of bad debt loan, 0.1% and staff overhead 0.2% become around 2.8%. Hence, they are unable to compete on BLR-2.5%( 5.55-2.5=3.05% ). Somemore paying legal fee 1.25%+stamp duty 1%+valuation fee RM500-RM2000, if only lock in for 5years, they are totally got no profit at all.

Some banks ever raise their lock in period to 7years and compulsory MRTA, ( profit from MRTA is 10% of premium) but it is just a small glass of water against the roaring fire. Nobody know whether one day got an insane offering BLR-BLR. Finally resulting at this meeting to standardize the interest rate at BLR-1.8%-1.9% and withdraw free legal documentation fee.

If one bank got some "promotion", they got no wrong. This is market competition. But back to the human relation principle, most of the customers more likely to chose the bank they are familiar with & better customer service rather than cheaper rate but lousy service.

Above are my opinion is share with everyone. And I would like to say that: new bankers only know how to sell lower interest rate, but good bankers sell good rate & service.

An interesting point....but back to basics. There is nothing as free service by bankers period!. If they offer u "extras", its coz they want your business. If not current business, then its the hope for future business. I have dealt with enough bankers over the years to know this firsthand.

Interest rates is key. If you are not even willing to compete with another bank with better rates, all the talk of better "services" is moot. I have had bank officers fight really hard to get me good rates. They even give me the offer letter to show other banks to see if they want to compete!. But in the end, i did not use them. Why? Coz even a 0.1% difference in interest rates compound to many many thousands of ringgit over 30 years!. Don't be emotional when getting a bank loan. Banks will never be emotional with you when they charge u late penalty etc!

Local banks, foreign banks....all sama saja.
minolta

Hi, i've pmed you regarding your question about MRTA and MLTA. Please check your mail box

what is current ambank package?

no....5.8% laaaa...............

Public bank will rebounce this month as our management target to achieve 16% growth on mortgage and commercial loan. Starting from this month you may get the best loan package you cant ever find in the market.

The best package i recommend is our Homeplan 6. The interest rate is first 3years fixed 3.75% & thereafter BLR-1.8%. The lock in period is only 3years. Hence, you can be no doubt on the BLR boosting up this 3years. News are expecting that BLR going to increase as precrisis rate 6.5%-6.75%. After 3years, you can revise the rate or refinance proportionally to the market offer.

Secondly, for shop house's investor, we got good news for you. We come out our new package, Shopsave, which got a linked current accout to your shop loan. The interest will calculated as the outstanding of shop loan balance minus the current account balance. You can used it as your Overdraft but the interest rate is lower than OD, ie BLR-1.4%. Interest is calculated daily, maintainance fee RM10/mth and account set up fee is RM200.

Lastly, we got an Ace card. If you got the offer from any bank which offer zero cost & BLR-2~2,1%, we can counter offer with zero cost and even lower interest rate than them! Please ready to submit your loan application to us and find out the best rate in the town.