Dear All,

Advise needed.
What is overdraft facility?
Under what circumstances should I take this facility under home loan?
What are the risk involve taking this facility?

Hi,

I'm Larry from UOB bank. I'm a mortgage specialist. It's possible to get your contact number or email , so that i can explain to you clearly.
You can call me at 012-253 9063 or email kenzo_two@hotmail.com

With Regards,
Larry Chia

I'm also interested in knowing. How does one apply for the overdraft facility provided in a home loan?

yeah.. any info?

actually OD is 50% of the loan amount provided by the bank. the interested is BLR. means 6.5% per annum. my bank is providing that.
you may contact me at 017-3282011 or email me at shiewai85@hotmail.com for more info.

usually banks will offer housing loans to client in addition to that clients may require or request overdraft facilities to either obtain a higher margin of finance or for investment purposes. This overdraft facility obtain is strict but definitelyly easier than obtaining a conventional overdraft facility from a bank where they will rquire you to pledge a fixed deposit of the same amount

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Added on January 13, 2009, 11:18 pmyeah forgot to mention you can contact me at repul2k7@yahoo.com if interested to apply for housing loan and overdraft facility!cheers!

This post has been edited by falcon867: Jan 13 2009, 11:18 PM

Unless you are running a business or investment, it is not advisable to take up OD under home loan.

BTW, bank officer responding in the forum should be answering TS question instead of asking TS to call them.

Overdraft (OD) facility is a facility that allows you to draw more money than what is available in your account. It's like an extended line of credit. For example: if the bank grants you OD of 50k, then you can use up to 50k in credit. You have to pay the bank interest on the amount of OD you have used. If you use OD of 10k then you pay interest on the 10k. I think the OD interest is BLR + 2%.

Take the OD facility if you feel you need some credit on hand to use.

Be aware that some banks charge a commitment fee for the OD, meaning even if you don't use the OD at all you still have to pay a fee for having it available.

i learnt that some people do not use their money to pay deposit for the house they buy, instead they use Overdraft. Is it profitable? Doesn't it sound that we have two interest rate or two debt for one investment?

Bump old thread.

So who had used it? For me I plan to apply OD from UXB bank.
So is it a lot easier to get from the bank since I have 2 properties with them?

BUMP old thread

i'm interested with this OD

any banker here update the latest interest and service pls?

tq

Hi All,

Normally for OD through a Housing Loan is provided through refinancing, good for the owner to have ready cash in hand based on the Current Market value of the house. Usually the amount and interest rate differs from bank to bank.

semi flexi home loan offers overdraft

full flexi home loan offers immediate withdrawal but with a rm10 as arrest fee every month

now even got intelligence housing loan = same as flexi, u ask the UOB agent here. wat for the fancy name