Hi all, I'm planning to refinance my home loan recently.

I had been servicing my current home loan for about 2 years (out of 30 years tenure), with the interest rate of BLR - 0.8%.

It is still in the lockin period of 60 months, meaning that I will be charged with penalty of 3% out of the total loan amount if I refinance now.

From my surveys recently, I can get around BLR - 1.80% for Non Zero Entry Cost package for loan amount of RM110K (my outstanding loan amount).

Do you think it is a wise move to refinance now? Or should I wait until the lockin period is over? Please advice. Thanks in advance! 

hi, my bank is offering BLR-2.20% for refinancing. is actually work for you refinance it bcoz of the economy downturn and our interest is very competitive in the market. our Flexi Loan offer you a current a/c, atm card and cheque book that allow you to withdraw money anytime at any amount you want. if you put more money inside your current a/c, i may help you save the interest and shorten your tenure. please call me at 017-3282011 or email me at shiewwai85@hotmail.com