Sep 3 2008, 12:00 PM
QUOTE(boonboon @ Sep 2 2008, 12:45 AM)
I hv wrote a interest rate revision request letter to AmBank, to reduce interest rate for home loan, which is quite high compare to current market, BLR + 0.1%. Total loan amount is about RM200k, and I am in the 3rd yrs of repayment.
The offer they gave me is BLR - 0.75% (Acceptance within 15 days)
or BLR - 0.50% (Acceptance within 30 days)
But the problem is they revise the lock in period to 5 yrs start from the date of letter issue, and increase the min penalty from RM5000 to RM8000.
Don't really think it is a good deal, i think i would rather pay for another 2 yrs+ then switch to another bank or do the refinancing directly. Any advise?
Nope, don't think it's a good deal. Surely Ambank can go lower than BLR -0.75%, but maybe they know you are still within lock in period so they don't give you the best rate. Perhaps go and talk to their customer service agent directly and nego some more. Tell them if they give good rate you will stay for long term otherwise in 2 years you will abandon them. The offer they gave me is BLR - 0.75% (Acceptance within 15 days)
or BLR - 0.50% (Acceptance within 30 days)
But the problem is they revise the lock in period to 5 yrs start from the date of letter issue, and increase the min penalty from RM5000 to RM8000.
Don't really think it is a good deal, i think i would rather pay for another 2 yrs+ then switch to another bank or do the refinancing directly. Any advise?
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