Bank Loan
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 Jul 17 2008, 10:06 AM
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Junior Member
274 posts Joined: Jan 2008 
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Problem with standard chartered is, if you decide to cancel the offer letter before the loan is disbursed, you also pay 3%, instead of the usual 1%, so although you save a bit of time for the lock-in period, you are also stuck after the offer letter is signed.
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Jul 19 2008, 02:18 AM
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Junior Member
62 posts Joined: May 2008 From: KL 
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QUOTE(johnsonm @ Jul 17 2008, 10:06 AM) Problem with standard chartered is, if you decide to cancel the offer letter before the loan is disbursed, you also pay 3%, instead of the usual 1%, so although you save a bit of time for the lock-in period, you are also stuck after the offer letter is signed. dont understand wat u mean. Letter offer signed can be canceled without penalty unless 'loan agreement' been signed. I never face this kind of customer before, but my colleague. Her customer signed the offer letter after a week canceled. Yes, we accept. Because he havent sign the 'loan agreement' yet. |
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Jul 27 2008, 12:53 PM
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Senior Member
4,720 posts Joined: Jan 2003 
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yo all...
i am currently asking on home loan and i was wondering if there's any catch that i should look out for? Eg. i was told that some of the loan, if you pay more every month, you are only doing advance payment and not principal repayment so in this case, the bank will still charge you on interest... what other things i should look out for? Also for completed properties, currently i have narrowed down to either AIA fixed interest or Public Bank... any other home loan i should consider to ask? Also, can anyone who's currently taking public bank home loan confirm with me if we can do principal repayment to cut our loan? thanks! |
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Jul 27 2008, 01:30 PM
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Senior Member
4,027 posts Joined: Oct 2004
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QUOTE(kevyeoh @ Jul 27 2008, 12:53 PM) Also for completed properties, currently i have narrowed down to either AIA fixed interest or Public Bank... any other home loan i should consider to ask? Also, can anyone who's currently taking public bank home loan confirm with me if we can do principal repayment to cut our loan? thanks! |
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Jul 27 2008, 02:07 PM
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Senior Member
4,720 posts Joined: Jan 2003
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thanks robert...
but is it easy to withdraw the money in case we need cash? we can just pay anytime over the counter? what should we look for at the agreement that talks about this principal repayment flexibility? |
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Jul 27 2008, 03:47 PM
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Senior Member
4,398 posts Joined: Jan 2003  
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easy to withdraw?
EASYYYYY .. just pay RM50 processing fee lo.. and if not wrong some bank limit you to 1 withdrawal per month so stuffs like that on top of that Public Bank charge some RM10 disbursement fee every 6 months.... so.. for 30yrs loan.. that will be RM10 x 2 x 30 .... wow .. hidden charges  This post has been edited by ed0gawa: Jul 27 2008, 03:48 PM |
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Jul 27 2008, 05:19 PM
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Senior Member
4,027 posts Joined: Oct 2004
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if you need to put in and withdraw money all the time then you should get a flexi package or setup a current account, for me i dont need to withdraw money unless emergency, so dont need waste money to maintain the current account.
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Jul 27 2008, 06:11 PM
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Senior Member
510 posts Joined: Dec 2004 From: Somewhere in Msia >.< I might b lost. I cant tell~
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Banks will always have hidden charges. Must ask all upfront so you don't go in blind. They aren't about to tell you beforehand in case you refuse. Do research first la then all should be fine.
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Jul 27 2008, 10:25 PM
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Senior Member
4,720 posts Joined: Jan 2003
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ya...the thing is i don't know what to ask in the first place...
but now i know i have to ask about repayment or withdrawal charges... thanks guys... anything else do let me know... |
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Jul 28 2008, 04:28 PM
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Senior Member
4,607 posts Joined: Jan 2003 From: Malaysia
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I would like to ask something, for buying completed property.
The interest start to calculate since offer letter is sign, loan agreement is sign, Or when bank is release the money? thanks |
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Jul 28 2008, 08:01 PM
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Senior Member
4,398 posts Joined: Jan 2003
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QUOTE(ychwang @ Jul 28 2008, 04:28 PM) I would like to ask something, for buying completed property. first disbursement, which normally will be the MRTAThe interest start to calculate since offer letter is sign, loan agreement is sign, Or when bank is release the money? thanks QUOTE ya...the thing is i don't know what to ask in the first place... but now i know i have to ask about repayment or withdrawal charges... thanks guys... anything else do let me know... Erm... some stupid disbursement fee. Cancellation of facility fee Validity past but facility not used, any fees? Early settlement fee Any service charges How extra prepayment are made. Any written notice needed etc... Processing fee Current account charges etc (cheque book blablabla) LATE PAYMENT FEES , RM5 or RM10 for how many days... after certain days it will be based on the interest charged per day... if you wanna be a arse... ask the banker to calculate it for you Ai.. can't remember any more charges or fee la..... Only remember late payment, redraw and early settlement.. since that is what my bank usually charge only....  This post has been edited by ed0gawa: Jul 28 2008, 08:30 PM |
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Jul 28 2008, 08:29 PM
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Senior Member
1,232 posts Joined: Sep 2005
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QUOTE(ed0gawa @ Jul 28 2008, 08:01 PM) first disbursement, which normally will be the MRTA Try make standing instruction to deduct money from your account for the peace of mind Erm... some stupid disbursement fee. Cancellation of facility fee Validity past but facility not used, any fees? Early settlement fee Any service charges How extra prepayment are made. Any written notice needed etc... Processing fee Current account charges etc (cheque book blablabla) [/b]LATE PAYMENT FEES , RM5 or RM10 for how many days... after certain days it will be based on the interest charged per day... if you wanna be a arse... ask the banker to calculate it for you[/b] Ai.. can't remember any more charges or fee la..... Only remember late payment, redraw and early settlement.. since that is what my bank usually charge only....  |
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Jul 28 2008, 08:31 PM
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Senior Member
4,398 posts Joined: Jan 2003
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QUOTE(muscaa @ Jul 28 2008, 08:29 PM) Try make standing instruction to deduct money from your account for the peace of mind Yes and no lo...since we still need to topup the bank account. Mana tau biler lupa topup ... tarak duit dalam |
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Jul 28 2008, 08:57 PM
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Senior Member
1,232 posts Joined: Sep 2005
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QUOTE(ed0gawa @ Jul 28 2008, 08:31 PM) Yes and no lo... I use my account which salary was bank in for standing instruction lah, kena charge once RM10 for that since we still need to topup the bank account. Mana tau biler lupa topup ... tarak duit dalam  |
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Jul 28 2008, 09:21 PM
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Senior Member
4,720 posts Joined: Jan 2003
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i was told that HSBC is the most flexible when it comes to this....
no charges incurred with no limits on payment and withdrawal limit... worth checking it out...for completed properties...was told that can get around BLR-2.1% |
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Jul 28 2008, 10:30 PM
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Senior Member
4,398 posts Joined: Jan 2003
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QUOTE(muscaa @ Jul 28 2008, 08:57 PM) I use my account which salary was bank in for standing instruction lah, kena charge once RM10 for that QUOTE(kevyeoh @ Jul 28 2008, 09:21 PM) i was told that HSBC is the most flexible when it comes to this.... Yo? Sure?no charges incurred with no limits on payment and withdrawal limit... worth checking it out...for completed properties...was told that can get around BLR-2.1% Hmm... reallllly? Hmm.... Was told that someone got BLR -2.5% yo.. for a measly 600k property... |
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Jul 29 2008, 07:57 AM
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Senior Member
1,232 posts Joined: Sep 2005
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QUOTE(ed0gawa @ Jul 28 2008, 10:30 PM) Yo? Sure? i'm using maybank BLR-2.3%Hmm... reallllly? Hmm.... Was told that someone got BLR -2.5% yo.. for a measly 600k property... |
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Jul 29 2008, 09:28 AM
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Senior Member
4,607 posts Joined: Jan 2003 From: Malaysia
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QUOTE(muscaa @ Jul 29 2008, 07:57 AM) i'm using maybank BLR-2.3% How much you had loan? |
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Jul 29 2008, 02:02 PM
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Senior Member
1,232 posts Joined: Sep 2005
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QUOTE(ychwang @ Jul 29 2008, 09:28 AM) How much you had loan? 230k lock in period 4 years from date of full disbursement |
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Jul 29 2008, 02:02 PM
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Senior Member
4,720 posts Joined: Jan 2003
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i am getting a very big headache from multiple loan packages...
anyone can give a rough idea which bank offer the best rates and probably i'll just shoot two banks and compare from there... thanks a lot....really pening...some say CIMB, some say Pubic, and some say HSBC... and also can consider AIA.... |
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