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newbies
11-11-2005, 01:18 PM
which bank has the best deal for balance transfer? :)

Ski
11-11-2005, 02:36 PM
which bank has the best deal for balance transfer? :)
Sorry I dont understand can anybody help this guy please?

PJS
11-11-2005, 04:12 PM
No problem.

This bank...

http://www.maybank2u.com.my/consumer/online_cards/credit_save.shtml

cosmic dust
11-11-2005, 05:03 PM
Strange. Cannot understand the logic here. As low-interest period increases (from Plan A to Plan D), interest increases. Then suddenly at Plan E, interest rate took a nosedive..????

Plan A
0% for 3 months

Plan B
0.5% (i.e. 6% p.a.) for 6 months

Plan C
0.75% (i.e. 9% p.a.) for 9 months

Plan D
1% (i.e. 12% p.a.) for 12 months

Plan E
4.5% p.a for 24 months

mykern
11-11-2005, 06:03 PM
do u understand loyalty, cosmic dust? .. banks having big problemo with this area of attrition management. :o

fatalshak
11-11-2005, 07:02 PM
Check out Hong Leong, they used to have a 0% for 6 months promotion

PJS
11-11-2005, 09:15 PM
Strange. Cannot understand the logic here. As low-interest period increases (from Plan A to Plan D), interest increases. Then suddenly at Plan E, interest rate took a nosedive..????

Plan A
0% for 3 months

Plan B
0.5% (i.e. 6% p.a.) for 6 months

Plan C
0.75% (i.e. 9% p.a.) for 9 months

Plan D
1% (i.e. 12% p.a.) for 12 months

Plan E
4.5% p.a for 24 months

Good question! After reading their detail T&Cs, I conclude that:

Options A-D is based on annual percentage rate, just like the standard 18% APR on credit card balances. Interest calculated on daily balance.

Options E-F is a FLAT rate per year, much like car hire purchase, where the full interest rate is charged on total initial loan amount. e.g. 10,000 x 4.5% x 2 years = 10,900 to be repaid in 24 equal installments. Rm454.16 per month.

Which is cheaper? Can't really tell, i think effective APR for plan E could be above 10-12%, dunno how to calculate lah. I know a car loan at 3.5% is around 10.5%APR as stated in the HP agreement, so...go figure.

KH EE
14-11-2005, 02:05 PM
be careful as there's a transfer fee involved even in the zero percent 3 mths' transfer, also should you pay/transfer to another bank within 3 mths, there's a penalty thingy...

hezron
14-11-2005, 03:05 PM
be careful as there's a transfer fee involved even in the zero percent 3 mths' transfer, also should you pay/transfer to another bank within 3 mths, there's a penalty thingy...


SXIT!

I didn't take notes on the transfer fee... hope they didn't charge me...
Just applied once from HSBC recently, fast approval, waive transfer fee if you apply online...