QUOTE(smcg @ Jul 1 2008, 11:08 PM)
knwong,
honestly, conventional loan is better than flexi loan.
usually flexi loan interest rate will higher & u need 2 pay the service charge for the current acc per yr..
there's not such thing that u loan rm100k and dump in rm100k in the acc, there will b no interest charge.. anyway, u can try it if u think got such thing.. juz spend some time then u will c the truth..
i'm taking public bank loan also.. how much u afford to pay extra per month?? there's actually a few way 2 do it in order 2 save the interest if u understand ur agreement t & c. (pm me if u wana know more detail)
ed0gawa,
regarding the zec or fmc, really have to ask very detail.. cos some bank although they say zec, but they have limit.. if more than that, they will ask u to pay urself.. exp. the total lawyer fees, stamp duty, bla bla bla is rm8k, some bank will help u 2 pay rm5k only, the extra rm3k u have to pay urself. then u have 2 think... zec better or without zec worth it?
I'm very curious about your statement...coz I'm looking housing loan now...I had chekc CIMB, Alliance Bank, PB, Citibank, OCBC, HSBC, AM Bank....
some bank charge is cheaper like PBB but normally is RM10 each month and need to pay RM200 for open current account(not returnable).
Exam: If I plan to get a loan RM150k for flexi loan(daily interest) with non zero cost...
Prinsipal housing Loan RM150K
Current Account: bank in RM50k,
They told me that the prinsipal housing loan will deduce to RM 100K...and base on your RM100K to do interest calculation.
then you will shorten you housing loan period and also deduce the interest.
Since it is daily interest, you can bank in your salary into that current account to deduct the daily interest.
When you need money, just withdraw it anytime in anywhere.
Normally bank will tied up 5 yr but no set any amount for your prepayment.
Accidenlly, you hv Rm150k, You can bank in RM150k into your current account immeadialy. Don't hv interest charge.
but you will need to pay RM 10 for everymonth until 5yr.
After 5yr, total pay is RM600.
Still reasonable.
That is what they told me....
Anyone of you find out any HIDDEN problem?
As I know that, Bank have the right to change the BLR -/+ X%....mayb few year they change your BLR +2%....
Thx.