Which bank has the best rate for loan about 90k?
Please intro me some bank which is famous for low rate, so I can compare each of them

thanks

you can try public bank. was offered -1.8% blr for rm162k loan; for 30years.

citibank: -1.7%
HSBC: -1.6%

the above rate was back to few months ago, might change for now. fyi, higher loan amount could give you better rate.

maybe try HongLeong, CIMB, Public bank, Aliance

is this applicable to completed properties?

i'm wanna ask about the rates for bank loan for completed properties....
u won't get rates such as 0% first year anymore for completed prop right?

no....for completed properties they start from

a) 1-2% and gradually increases or
b) BLR - X% for Y amount of years
c) fixed rate (eg. AIA home loan)

Indeed but just want to add in some infor

a) gradually increases normally overseas bank, local bank normally flat
b) indeed
d) 90k sorry all insurance company is not going to accept it (loan too small)

i'm considering getting AIA home loan...but what should i be aware of? From my first reading of some info from AIA website, seems like we definitely need to buy the MRTA from AIA if you wanna get the home loan... unless u got buy life insurance policy...

also, forfixed interest rate, are we able to pay more monthly if we can afford, thus reducing the principal loan amount?

---

Added on July 14, 2008, 10:31 amalso, can anyone let me know 2-3 banks which is offering good rates for completed properties?

thanks

This post has been edited by kevyeoh: Jul 14 2008, 10:31 AM

Standard Chartered Bank

Non Zec

90k loan

BLR-2% throughout (Flexi loan)

BLR-2.15% thorughout (term loan)

interested call me @ 012-2781125 (Tham)

WOW ... sure or not 90k loan can get -2% all the way?

Actually can. The bank loan market is very competitive now. I just got my bank loan at BLR-2.3% 220k

May i know which bank ?

Your is 230k, can't be compared with 90k loan

can...

got a forumer just took loan from me.. his name is P.S

RM80k non zec BLR-2% throughout

interested call me @ 012-2781125

how long the lock in period?

every bank standard .... 5 years 3% but my customer show me maybank offer letter= 5 years 4.5%

a lot of local banks are still offering blr - 2%. if the blr goes up, these banks are going to need bank negara bailouts.

kevyeoh, i currently have an aia loan. you MUST have mrta or some other sort of insurance, which is to be assigned toward repayment of the house if anything happens to you. also, early repayment is allowed, but you cannot after that withdraw that money. and, if i am not mistaken, the lock-in only applies for refinance. if you sell, no penalty!

"a lot of local banks are still offering blr - 2%. if the blr goes up, these banks are going to need bank negara bailouts."

Bank won't die if BLR goes up, only those house buyers with bank loan will suffer, unless you take fix interest rate. The bank are not stupid. They have clauses in the loan contract saying that they can revise the interest at any time if the BLR < 2%

---

Added on July 16, 2008, 11:56 amMaybank - depends on the package they offer on various housing projects
I saw one with 1st year 2.88% then BLR-2.3% throughout whole tenure. Very attractive

This post has been edited by muscaa: Jul 16 2008, 11:56 AM

Dear,
5 years from? Letter offer? First Disbursement or Full Disbursement?
For properties with 10% construction, first disbursement and full disbursement time frame could be up to 20 months.
So if it is 5 yrs from full disbursement, in other words... it is 6-7yrs lock in right?

Standard chartered bank is start from the date of Letter Offer...As i know others bank almost is start from 1st dibursement... but maybank is start from full dibursement

Maybank give me lock in period 4 years from full disbursement. But I'm buying a property which is almost 95% completed. So not much of difference.

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.

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!

i am taking Public bank fixed for five year package, can to principal repayment to reduce principal anytime, not need to write in.

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?

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

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.

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.

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...

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

first disbursement, which normally will be the MRTA



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

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

I use my account which salary was bank in for standing instruction lah, kena charge once RM10 for that

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%

Yo? Sure?
Hmm... reallllly?
Hmm....

Was told that someone got BLR -2.5% yo.. for a measly 600k property...

i'm using maybank BLR-2.3%

How much you had loan?

230k lock in period 4 years from date of full disbursement

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....

kevyeoh, it all depends on your requirements. maybe if you explain the type of loan you want, then people can recommend to you.

do you want:-

1. fixed at x% for 30 years
2. blr - x% for 30 years
3. x% for 5 years and blr - y% thereafter
4. blr - x% for 1st year, blr - y% for 2-5 years, and blr - z% thereafter

then after deciding on that, decide on whether you want the following:-

1. flexibility - can prepay anytime without notice, and can withdraw without notice
2. flexibility - can prepay at anytime without notice, but cannot withdraw
3. flexibility - can prepay and withdraw, but only in multiples of 1000 and notice required

also, you have to decide how long a lock-in period you want, 0, 3, 5 or 7 years.

once you give this info, then it can be narrowed down to 2 banks.

wow johnsonm...very detailed there...thanks...ok...for the first questions on which package, i'm willing to take any whichever is lower... assuming i plan to pay off the loan within 5 yrs?

i want:-

1. fixed at x% for 30 years
2. blr - x% for 30 years
3. x% for 5 years and blr - y% thereafter
4. blr - x% for 1st year, blr - y% for 2-5 years, and blr - z% thereafter
*any of above whichever lower

i want (either or cause i don't mind giving notice):-

1. flexibility - can prepay anytime without notice, and can withdraw without notice
3. flexibility - can prepay and withdraw, but only in multiples of 1000 and notice required

and 5 yrs lock in period.

is this info good enough to narrow down?

if you notice, i inclue in both fixed rate as well as BLR rates option because right now, fixed seems to be higher but we cannot tell if BLR will go up how high in future, so maybe there will be a time when fixed rate is the lowest... this is another headache to decide...


This post has been edited by kevyeoh: Jul 29 2008, 04:34 PM

Go for those flexi/link package where you get a current account. You can dump in and take out anytime you want.

For those 'conventional' loan package, are they any banks that allow you to take out the extra prepayment ANYTIME? (i.e without notice and charges?)

currently deciding between HSBC flexi vs AIA fixed rate... narrowed down to two already...

problem is no one got the crystal ball and can tell how high the BLR will go up...for sure it should be going up 0.5% soon...but after that? no one knows...


sigh.....

Have u tried OCBC? I took up their Flexi loan, similar to HSBC. About the BLR u cant do anything but pray that it wont shoot up sky high, recession is down d corner.

AIA still got fixed rate?...
Thought that they already cut that program because of the uncertainty in M'sia's economics. Maybe I'm wrong though.....

---

Added on July 30, 2008, 9:39 amIn terms of flexibility between OCBC and HSBC's flexi loan is quite different.
I would recommend those that doesn't withdraw "excess money put in" frequently to take up OCBC instead of HSBC.


This post has been edited by b00n: Jul 30 2008, 09:39 AM

he has finally narrowed down to 2 banks, and you people are suggesting more banks. i tell you....

unfortunately, none of us have a crystal ball to tell if blr is going up or down. i was paying 6.15% for my AIA loan for quite some time, which worked out to a good rm250 per month extra, and was extremely pissed off about it. but now i am glad i have at least 1 loan that is certain. if blr does go up, then i pay up my other loans faster, and keep the aia one there to enjoy the hopefully then low rates.

Very true, with the current loan interest rate BLR-2.3%, 6.15% fixed interest rate is extremely high. Sometimes we shouldnt be fooled by the so called "fixed interest rate" as we may end up paying more to the bank.

You have to do a study on the different packages offered by different banks. You can even ask different branches for the same bank, as their branch manager will offer you a better interest rate after negotiation.

---

Added on July 31, 2008, 8:16 amjtmy,

Where are you planning to buy the houses? The developer have their own panel bank list for house loan (usually the deal is better and disbursement is faster)

1st year 2.88% and then whole tenure BLR-2.2% is a good deal if you are taking the zero entry plan (mine is non zero entry so i got BLR-2.3%)

I find it even though maybank is giving a good interest rate, it has a lot of clauses in the loan contract eg. lock in period starts from date of full disbursement etc which i really dont like it.

Can do survey in other banks if you are not happy with maybank. I think Ambank, UOB and OCBC also not bad with their offer

This post has been edited by muscaa: Jul 31 2008, 08:16 AM

Hi muscaa,


I'm planning to buy my first house in Puchong. The developer indeed have their own panel bank list, however after doing some research and comparisons, Maybank seems to be offering the most attractive rates so far with NZEC Package 1st year 2.88% and then whole tenure BLR-2.2% which is similiar to your package but you manage to get better BLR-2.3% as mentioned. At this point, covering the legal fees on my own is not an issue.

My OCBC ZEC Loan has already been approved as well. They are currently offering me ZEC Rate of BLR -2.05% for entire 40 years tenure during their so-called promotion period. But looking at it from the different point of view, I would prefer sticking to something where I can save more in the long run in term of rates since this is all dependent on the current non-fixed BLR rates and I am confident in being able to settle it off earlier without much clauses involved.

Currently my mind is set on Maybank, but just wanting to negotiate further on getting the BLR -2.3% rates which would be great. Any advise would be much appreciated.

Thanks!

ok. If i'm not mistaken the new project you mentioned is bdr puteri? I think they put maybank puchong jaya branch as their panel bank. U can try to contact the jln klang lama branch (near Tmn Desa), they r the one gave me the best rate.

Hi muscaa,

The project mentioned is actually Taman Putra Prima Puchong by Developer Plenitude Permai Sdn Bhd which is just after Bandar Puteri, if I'm not mistaken Maybank wasn't listed as their panel bank the last time I checked.

Do they normally only give those rates if they are the panel banks of the developer or should it depend on the negotiation with banker/branch itself?

Thanks

i think the panel bank will give u a better rate
usually we go for other banks for flexi package/fixed interest rate home loan

if you afraid blr would go sky rocket..maybe you can try klibor base...it offered only by standard chartered bank...i took mine for 3.62%+1% for loan amount rm87,000.00

How much had you loan to get -2.2%?
I just sign my loan letter offer today, and the rate i got it -1.9% only, my loan amount 86k

excuse me... *ahem* Are you trying to imply that KLIBOR won't goes up if BLR goes up?

My loan amount is for 430K, which is why the slightiest BLR-0.1% makes a huge difference in the long run.
Since your loan amount is 86K, I think BLR-1.9% is a pretty good deal.

yes they going up also...but in history when the blr at 12% the klibor on ly 6++%

Guys.... I need get loan for 50k for 5 year, is for renovate n other housing stuff.... any suggestion.... really really thanks!!

okie, but what was the BLR +/- rate that time vs KLIBOR +/- rate?
Seriously i have no idea.. but if it was BLR +0 vs Klibor + 5% ... no much difference?

Refinance your house lo if you current outstanding VS your house current market value is more than 50k .. or get a personal loan...

tumpang thread, can I borrow money if I were to build home on my own(own contractor) instead of buying one from a developer?

Can .. but u need a land for that.. either u already own 1 ... or u have to buy 1 ...
As for the margin of finance for the construction it depends .......
Your contractor might charge you RM1million but valuer of the bank might says it is only worth 800k..

bro...
can share what are the hidden charges and TnC for Maybank loan? with such a good rate, i think sure a lot of clauses...like cannot pay off 50% of your loan within 5 yrs...this is one of 'em which i remember...

It's a Non ZEC home loan BLR-2.3%
- can put extra money into the account to reduce interest, cant withdraw
- lock in period start from date of full disbursement, 4 years(but the houses is going to be completed soon in a mth or two, no big deal)
- no hidden charges so far (but I gotta pay the legal fees RM3000+, non ZEC)
basically it is a good deal by maybank

i heard HSBC is offering flexi loan (BLR-1.95%)
lock in period 6 years
It is like current account
can completely settle the loan early during lock in period but must maintain the account with monthly charges minimum RM10/mth till 6 years

for HSBC it's 5yrs for that rate...i just ask about one week back i think..unless the rate just change again this week to 6yrs lock in period...

i'm very doubtful how 'flexi' is those flexi account like. The only flexi account i would probably recommend is nova scotia

the mechanism is the same everywhere

u have a current account... put in money or take out anytime u like

i got mine UOB BLR -1.8%..what can i do to revise to 2.0 or higher?Anyway to help?

eh...that scotia bank...actually is it reputable?
in penang only saw one branch... at i-avenue... dunno can tutup kedai anytime or not
hehe

---

Added on August 8, 2008, 11:31 pmanyone tried the standard Chartered KLIBOR home loan?


This post has been edited by kevyeoh: Aug 8 2008, 11:31 PM

nova scotia always promote their flexi loan in newspaper, should be good lah
citibank have not many branches but still do well in msia

KLIBOR = is kuala lumpur inter bank offered rate
now is 3.70
aca
1st 5yr klibor + 1.5%
thaftr klibor + 1%

do note that that KLIBOR is Changing rate every quarter

guys,

is there a different between

a) interest calculated on a daily basis with monthly rest


b) interest calculated on a daily rest

hi guys and girls here...
can i know something....currently which bank offer the best deal for home loan...say the loan amound is some where in 300k....
reali in dillema here...dunno which to take...

chelseafanz ,
depends on which package u prefer. ZEC/NZEC? Flexi/Non-Flexi?
Try CIMB, Alliance, OCBC
U can also consider Public Bank, Standard Chartered, UOB.

actuali cant different wat is ZEC/NZEC Flexi/non-flexi
wat is the different...can someone explain to me?

Yes, daily interest means that the interests are calculated on a daily basis.

Any banks can give u interests rate like -2%,-2.1% -2.2%, -2.3%. But are your profile and property good enough to get the deal?
And the lower interests rates come with catches... bank are a BUSINESS, they won't do deals where they earn nothing. Either they get earn from interests or they choose to be shady and earn from hidden charges

Uh huh.. and why these few banks? Any specific reasons?

ZEC/ZMC = Zero Entry Cost or Zero Moving Cost. Which practically means that you don't have to pay ANYTHING for the loan. (Legal fees, processing fees, valuation fee etc etc). BUT take note some banks' ZEC/ZMC are really that ZERO ...

Flexi/Non Flexi is actually the 'package' type. Flexi loan refers to packages where you actually get 2 account, the loan account and a current account. Any money in the current account will help to lowers the interests incurred on your loan account. In general 'flexi package' works these way. But every bank have their own mechanism which might work a little differently.

Non flexi = the conventional loan.... pinjam and bayar sampai habis hutang.

Dear property owner,

Good news!! We are bringing a brand new idea to be shared with you.

Now, please refer the following:

1) Are you being over burden with your housing loan?
2) Do you hope to shorten the loan tenure to half?
3) Do you hope to save interest rate which will result in an early settlement of your property loan?
4) Are you in debt or need cash flow for some emergency? Looking for solution to solve this?
5) Looking up for a suitable and most suitable (as in low interest) loan for your new property?

If you have any of the above concern, we have a 'cure' to it. and guess what, it is totally FOC! Yes, you are reading the right words, Free of Charge!!!

So, what do we provide? We provide you consultancy to help you save your mortgage interest by refinance. Not just ordinary refinance we are doing. Throughout the process you do not need to pay us a single cents for consultant fees (others actually charge thousands for this service).

What if we tell you we will help you save interest and cut down 1/2 the tenure with your current installment?

Do you find this refinance worth a try? If you are looking a loan for your new property you are welcome as well.

If you would like to know more or would like a presentation from us email: refinance_consultancy08@hotmail.com


You have our assurance that you will not regret with your decision!

Cheers

Today spoke to the Maybank agent

He only tell me that I cannot pay more than 6 months installments in lump sum, or there will be a penalty of 1% on what you pay

just saw the ad in newspaper
maybank are giving home loan to I&P project purchaser
ZEC BLR-2.1%
Non ZEC BLR-2.25%
Good rate!