this may be due to most banks are tightening their pipe to give higher loan.

You may try agressive bank like CIMB, or may be EON. Or u may want to wait after CNY to see the market...

and i think u shud check ur outstanding loan+penalty (5% very high)=? then only decide to refinance cos not worth to refinance if penalty high.

This post has been edited by bearbearhong: Jan 15 2009, 04:53 PM

ur previous loan is RM100K? so penalty only rm6k..

yeah, if u escape earlier, you may saved more interest provided also u hv gotten a zero cost from the new bank to bear ur legal and valuation cost which may come out about +-RM4k..

you may hv to wait then, cos heard from banker fren most banks are tightening their loan by pulling down loan margin..and may be after cny, they will be more agressive..

i wanted to refinance too but penalty is too high for me to bear...

just like my existing Bank, also another Sh1tty one, i tot of restructure/refinance the loan with them and shortened the repayment period, they said Yes, but u have to bear the penalty... F them la...may be we are under the same sh1tty action Bank

my penalty cost me RM13k++ , but i just need to bear another few months then cant refinance already

If really no choice, i advise you to utilise ur EPF to reduce ur loan sum so dont have to pay more interest and if your loan is flexi loan which allow you to pay more than your monthly repayment to reduce interest, then you can settle it earlier

This post has been edited by bearbearhong: Jan 16 2009, 11:03 AM

terrible ! is it a local bank? mine not a local one..

my loan oso not flexi, but with epf withdrawal fund pump in, no admin fee or whatsoever, if normal extra payment yes.

i have been charging RM10 per month too..their so call service fee and suck services..but when late payment even one two days, they will call immediately..