Feb 5 2009, 11:25 AM
QUOTE(dARKaNGEl @ Feb 5 2009, 02:26 AM)
actually, the interest rate varies depending on the duration of loan as well as total amount of loan.
typically, if the longer the duration, the interest might be lower coz they still earning due to longer duration.
and for lower loan amount, the interest would be higher, cost the bank can't earn much if u borrow less.
it goes the same to house loan as well.
if you proudly pay cash for a car, the SA won't be happy coz he can't earn commission from the bank loan. FYI, SA when they sell cars, they do get a cut of commission from the bank loan coz this is how the bank officers "sell" their loan coz they got quota to meet too.
and for car loan, sometimes your monthly salary would affect the interest rate you're getting too. People with higher salary might get a lower interest rate because the bank sees it as less risky. I know this is very unfair to ppl who are earning less too but that is how it works. And if your salary is high and your financials are nice (meaning dont owe lots of money to bank for credit card/mortgage etc), then your loan will be approved very fast.
i learn these from my dad as he was an SA long ago for many years and also just by speaking to the present SAs and ppl in the bank industry.
no wonder mine so fast .. only got fd in their bank ..typically, if the longer the duration, the interest might be lower coz they still earning due to longer duration.
and for lower loan amount, the interest would be higher, cost the bank can't earn much if u borrow less.
it goes the same to house loan as well.
if you proudly pay cash for a car, the SA won't be happy coz he can't earn commission from the bank loan. FYI, SA when they sell cars, they do get a cut of commission from the bank loan coz this is how the bank officers "sell" their loan coz they got quota to meet too.
and for car loan, sometimes your monthly salary would affect the interest rate you're getting too. People with higher salary might get a lower interest rate because the bank sees it as less risky. I know this is very unfair to ppl who are earning less too but that is how it works. And if your salary is high and your financials are nice (meaning dont owe lots of money to bank for credit card/mortgage etc), then your loan will be approved very fast.
i learn these from my dad as he was an SA long ago for many years and also just by speaking to the present SAs and ppl in the bank industry.
QUOTE(sysh @ Feb 5 2009, 09:57 AM)
I spotted a PMM E-Spec on the NPE just now on the way to KL
NCE XXXX
NCE ?? Mine is start with NCE too .. pm me the numberNCE XXXX
anyone know when the interest rate going to drop???
This post has been edited by love_hina: Feb 5 2009, 11:31 AM
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like that ah? so pai seh la ... 
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