Welcome Guest ( Log In | Register )

Please provide proper description when you report a post. Report button abuse will earn you an automatic warn + suspension.
 
RSS feedBump TopicClosed TopicStart new topicStart Poll

Outline · [ Standard ] · Linear+

> Maybank Home loan, Full with hidden terms and condition?

JimJimKC
post Oct 17 2008, 10:50 AM


Getting Started
**
Group: Junior Member
Posts: 138

Joined: Nov 2004
From: Penang
Hi,

Like others, i'm pretty excited on getting my own house so i went to shop around for best home loan package and so far i found Maybank offer the best home package.

It is no flexi type but it does give those flexi feature

1st year - 2.88% flat
2-30yrs - BLR - 2.2%

RM25 per withdrawal, min 1k and in "000 subsequently.
Instance transfer to saving account from Home loan account

3 year lockin period.



What i heard that there is alot of hidden Terms and Condition and my friends said Maybank always offer best loan package but they never take it.

My question is what so bad about Maybank? Is it really alot other hidden charges? Can some expertise here help me on this


Many many thanks notworthy.gif notworthy.gif notworthy.gif
User is offlineProfile CardPM
Go to the top of the page
+Quote Post
tgeoklin
post Oct 17 2008, 11:24 AM


Enthusiast
*****
Group: Senior Member
Posts: 906

Joined: Sep 2008
QUOTE(JimJimKC @ Oct 17 2008, 10:50 AM)
Hi,

Like others, i'm pretty excited on getting my own house so i went to shop around for best home loan package and so far i found Maybank offer the best home package.

It is no flexi type but it does give those flexi feature

1st year  - 2.88% flat
2-30yrs  - BLR - 2.2%

RM25 per withdrawal, min 1k and in "000 subsequently.
Instance transfer to saving account from Home loan account

3 year lockin period.
What i heard that there is alot of hidden Terms and Condition and my friends said Maybank always offer best loan package but they never take it.

My question is what so bad about Maybank? Is it really alot other hidden charges? Can some expertise here help me on this
Many many thanks notworthy.gif  notworthy.gif  notworthy.gif
*
Yes, they always give false advert. After apply will say you not qualify this and that but will give different but less appealing rates etc. Takes mths to process & approval and plenty of hidden terms that will only make know to you after Letter of Offer is out. BEWARE unsure.gif

Their tactic is to draw you in, confused you, delay and milk you dry tongue.gif
User is offlineProfile CardPM
Go to the top of the page
+Quote Post
Syd G
post Oct 17 2008, 11:27 AM


Mom. Accidental Medical Student.
Group Icon
Health & Fitness
Group: Moderator
Posts: 7,783

Joined: Jan 2003
From: :: Cheras ::


I have 2 MBB homeloans and they took forever to process (11 months!!!).

Cons :

1) Have to take MRTA
2) Shorter lock-in period, the penalty % is usually higher
3) Term loan, any extras wont help to reduce interest. You have to write letter to reduce principal.



User is offlineProfile CardPM
Go to the top of the page
+Quote Post
JimJimKC
post Oct 17 2008, 11:45 AM


Getting Started
**
Group: Junior Member
Posts: 138

Joined: Nov 2004
From: Penang
Thanks for reply smile.gif

1. Yeah It does need MRTA
2. The penalty for Non-ZEC is 2% (Isn't that sound attractive)
3. Good point i didnt know term loan doesnt contra the interest. I will check with them again
User is offlineProfile CardPM
Go to the top of the page
+Quote Post
Syd G
post Oct 17 2008, 12:01 PM


Mom. Accidental Medical Student.
Group Icon
Health & Fitness
Group: Moderator
Posts: 7,783

Joined: Jan 2003
From: :: Cheras ::


Are you planning to resell soon?

If no, then the early redemption benefit doesnt really apply no? wink.gif



User is offlineProfile CardPM
Go to the top of the page
+Quote Post
JimJimKC
post Oct 17 2008, 12:04 PM


Getting Started
**
Group: Junior Member
Posts: 138

Joined: Nov 2004
From: Penang
Might not know... see how the work here in Penang... haha recession coming later retrench im going to say bye bye and back KL.

anyway short lock in period is good so can refinance
User is offlineProfile CardPM
Go to the top of the page
+Quote Post
X-Zen
post Oct 28 2008, 07:08 PM


Yatta!
****
Group: Senior Member
Posts: 549

Joined: Sep 2005
From: Compulsive Disorder Land


QUOTE(JimJimKC @ Oct 17 2008, 12:04 PM)
Might not know... see how the work here in Penang... haha recession coming later retrench im going to say bye bye and back KL.

anyway short lock in period is good so can refinance
*
that's a good rate

i think should ask the loan personnel any doubts that you have

request to put in black and white from the bank
User is offlineProfile CardPM
Go to the top of the page
+Quote Post
eric.tangps
post Oct 29 2008, 01:08 AM


Casual
***
Group: Junior Member
Posts: 418

Joined: Apr 2007
From: X-Mansion, Penang


QUOTE(JimJimKC @ Oct 17 2008, 10:50 AM)
Hi,

Like others, i'm pretty excited on getting my own house so i went to shop around for best home loan package and so far i found Maybank offer the best home package.

It is no flexi type but it does give those flexi feature

1st year  - 2.88% flat
2-30yrs  - BLR - 2.2%

RM25 per withdrawal, min 1k and in "000 subsequently.
Instance transfer to saving account from Home loan account

3 year lockin period.
What i heard that there is alot of hidden Terms and Condition and my friends said Maybank always offer best loan package but they never take it.

My question is what so bad about Maybank? Is it really alot other hidden charges? Can some expertise here help me on this
Many many thanks notworthy.gif  notworthy.gif  notworthy.gif
*
1. Is it free legal ?

2. Can pay extras? Any constraints for excess?
User is offlineProfile CardPM
Go to the top of the page
+Quote Post
June_llk
post Oct 29 2008, 10:00 PM


Getting Started
**
Group: Junior Member
Posts: 182

Joined: Oct 2008


Hi there!

Maybank always have tricks de...

Better get from Hong Leong Bank

BLR-2.2% whole tenure (NZ cost)
MRTA optional
5 years lock in period
max 30 years tenure

I can help you to get a good rate for legal fee also.

If interested drop me email at xinxuan21@yahoo.com or sms me at 0129268099

Cheers!

June biggrin.gif
User is offlineProfile CardPM
Go to the top of the page
+Quote Post
ed0gawa
post Oct 29 2008, 10:39 PM


coconut
*******
Group: Senior Member
Posts: 4,146

Joined: Jan 2003




^ Any ahkow ah mao can get BLR -2.2%?


User is offlineProfile CardPM
Go to the top of the page
+Quote Post
Interrupt
post Oct 30 2008, 01:53 AM


New Member
*
Group: Junior Member
Posts: 16

Joined: Oct 2008


Weird that I did not share the same experience that you have with Maybank infinite loan processing time. I got mine within 5 days, it's fastest among other loans I have applied (OCBC, UOB, public bank). Personally I think it depends on the efficiency of the agent. However I decided to hold on buying the property so that at the end I did not take up the loan; I did have the loan agreement with me but I have not read it yet. From what the agent told me the interest rate is calculated at daily basis (flexi), no write in required as mentioned.

One good thing I know about Maybank homeloan is that your minimum remaining loan amount during the lock-in period just need about 3-5k. In contrast, another bank that I have encountered is that they have a condition saying that your minimum amount in bank cannot be lower than [loan amount / total lock in period in month - remaining lock in period in month].
User is offlineProfile CardPM
Go to the top of the page
+Quote Post
ed0gawa
post Oct 30 2008, 02:02 AM


coconut
*******
Group: Senior Member
Posts: 4,146

Joined: Jan 2003




interest rate calculated at daily basis not equal flexi ....

flexi = they give u a current account + your loan account.

i believe maybank doesn't have that package (correct me if i am wrong)
User is offlineProfile CardPM
Go to the top of the page
+Quote Post
jalsrix
post Feb 25 2011, 12:42 PM


Regular
******
Group: Senior Member
Posts: 1,404

Joined: Sep 2009
QUOTE(Syd G @ Oct 17 2008, 11:27 AM)
I have 2 MBB homeloans and they took forever to process (11 months!!!).

Cons :

1) Have to take MRTA
2) Shorter lock-in period, the penalty % is usually higher
3) Term loan, any extras wont help to reduce interest. You have to write letter to reduce principal.
*
Does Maybank homeloan takes forever to disburse ?
User is offlineProfile CardPM
Go to the top of the page
+Quote Post
jeghui
post Feb 25 2011, 01:11 PM


Look at all my stars!!
*******
Group: Senior Member
Posts: 2,389

Joined: Dec 2010
Just got a loan offer Home equity I musharakah mutanaqisah. Bfr -2.3 for 40 yrs.


Added on February 25, 2011, 1:18 pmOk my own experience:

Hong leong damn strict. Force me to take joint loan.

Affin great communication

Rhb that agent is playing the fool.

Muamalat did try her best.

Maybank 5 days application approved. So we will see how long the process takes. Their offer as above. 90% MOF. If u want to know all the costs etc, go to the branch and talk to them

Moral is, it depends on agent.

This post has been edited by jeghui: Feb 25 2011, 01:18 PM
User is offlineProfile CardPM
Go to the top of the page
+Quote Post
Neoh1979
post Feb 25 2011, 02:03 PM


Enthusiast
*****
Group: Senior Member
Posts: 896

Joined: Feb 2011
Hong Leong Islamic provide -2.4 no lock in
for 400k loan. Not bad
User is offlineProfile CardPM
Go to the top of the page
+Quote Post

Bump TopicClosed TopicTopic OptionsStart new topic
 

Switch to:
| Lo-Fi Version
0.0543sec    0.41    5 queries    GZIP Disabled
Time is now: 18th April 2014 - 05:23 AM