View Full Version : Home Loans or Refinance

05-04-2008, 11:24 AM
Are you still paying high interest rate to the bank? Do you know that all the major banks now having promotion like BLR -2% , one account,... that can help you save a lot of interest?

Im a financial consultant under a well known group in Malaysia,my job-scope is to help my customer to save housing interest or reconstruct their loans in order to save more interest.I can help you to apply loans from any major bank in Malaysia and we have plans to help you save interest.

Principal Loan RM100,000 + $ % Interest X 30 years

How much is your monthly installment? - RM665.30
How much is your monthly principal?-RM81.97,RM82.44,RM82.93..
How much is your monthly interest? –RM583.33,RM582.86…
How much is your total payment for 30 years? –RM239,508
How much is your principal? –RM100,000
How much is your interest? –RM139,508 ----> that is the part i can help
you to reduce

So if you are interested,kindly msg me or if u guys wanna know more about all these interest rates,refinance things,dont hestitate to leave a msg o pm me,i'll try my best to help u solve all the problems..

Thks,have a nice day :)

05-04-2008, 01:10 PM
One thing that I notice about banks is that they do not do short term loans for houses (try asking for a 3 year loan and you will not get any response from them - I tried at Affin, RHB, Maybank, Public, CIMB)

The second thing is that with any refinancing, you will be locked in major time. Most institutions have a minimum of at least 3 years but many are adopting 5 and 10 year lock-ins. With lock-ins, comes hefty penalties - mostly between 3 to 5% but I have come across one with 10% of the original loan amount.

My suggestion - only refinance if you want to have a better cashflow. Do not refinance to if you are looking at saving interest - most of the time, it is not worth the while.

06-04-2008, 12:28 AM
Actually d interest rate is the most IMPORTANT part,because as d example i put,if u loan RM100,000 from the bank,do you know that wat is the total u need 2 pay 2 the bank?is RM200,000+,that means u need 2 pay RM 100,000+ more just for the INTEREST.So thats y ppl concern about the interest rate...

Ya,the bank usually wont loan for you for 3 years for house loans and we also wont encourage customer to refinance if u only need to pay ur loan for 3 yrs more,in this case,mayb u can find some ways to apply some personal loans if u need cashflow...

We usually do refinance for customers that their duration of loan more than 10 yrs+ because last time,the BLR rate fr the bank is BLR+2%,so now,all the banks they have all these promotions like BLR-2%,so that is a big difference nw...

Actually,customers have some options to choose,all my counting is based on RM100,00 loan

1.There is an account call one account,this account is vry hard 2 explain here,the basic for this account is if u hv cash flow,then u can save a lot of interest.Juat a rough example,if u save RM200 in that account evry month,u can save RM 70,000+ for d interest,n u can withdraw d money that u save into tat account anytime.n d more u save in account,d more interest u save.

2.BLR-2%,last time for all the bank is BLR+2%,is a big difference,let me count to let u c d difference,just an example

Principal(RM100k)x5%(example for BLR rate)x30yrs=RM150,000--->interest
the difference is RM60k
(this is just a rough counting becoz usually BLR-2%is for 1st few yrs,d continue yr will b BLR-1.6%,...)n d current BLR rate is 6%+

3.fixed rate,there is advantage n disadvantage in this also,if BLR rate raise,u wont get affect bt if BLR rate drop,then u wont get to reduce.

All these are juz d most basic plans because different bank have different plans n BLR rate will change oso.

:) thks

06-04-2008, 12:36 AM
and i want to add on the refinance part,actually for us,we will advise customer to reconstruct their loans n get the loans from another bank thats the way we can escaped from the lock in period n all the banks now have RM0 moving cost,that means u dun need 2 pay anything for moving ur loan to another bank or u juz need 2 pay some small amount of fees for moving depends on d bank...

06-04-2008, 01:14 AM
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