for 300 to 400k loan, what is the interest rate look like?

it start from 4.0%-4.9% depends on the client scoring record. if they have good loan payment history, the bank will offer a good interest rate

@Izwan 4.0% ? maybe big loan amount only can get it

@Izwan 

I think it depends on your negotiating skills with the bank and the current Base Rate... and also your good relation with the banker?

In some other circumstances such as buying a car, if you can afford... just pay fully in CASH. I am not promoting or encouraging this for most people though.

@domng wait you share some good nego skills with me to get better rate :)

@Nic. Not really nego skills, more to analysis I would say. For instance you may "tekan"  the bankers if you know of another banker who is able to give better rates. And you counter offer with something they cannot resists. Haha. 

@domng something they cannot resists? such as? 

(under table money? hehe)

average around 4.3% with some bank product like asking you to apply credit card or FD savings. 

@windzneom cimb and hsbc mortgage consultant tent to offer 4.6%

my loan just approved with 4.3% interest rate. Most banks offer between 4.3-4.4 depending on property value.

@msi 

What type of property did you buy? Lock in period for how long?

@domng townhouse. No lock in period.

@msi 

Townhouse i believe is strata unit with shared facilities such as swimming pool, playground and BBQ area?

@domng yes that's correct

I know of a good example in Skudai, Johor area... The SEED by Tanah Sutera developer.

@msi how much u borrow?

@msi 

Did the bank who approved your loan @ 4.3% ask you to buy mutual fund, maintain FD account with them etc etc?

i think most likely the bank did. For example, maybank ask my client to sign up another credit cards even they already own maybank credit card. Just to get 4.3% for 300K loan.

@windzneom 

Sign up new credit card is ok i guess... can always cancel after 1 year when it is time to pay the annual fee. :^)

@domng maybank credit card normally dont have annual fee, unless the special privilege credit card. so just apply and use while got offer :) like TGV buy 1 free 1 on Thursday :)

@domng  exactly, thats what i told my client too. Just to get the lower rate, why not?! haha 

@6011_3531_5354 around 500k

@domng nope. probably because i already have an account/credit card with them

Maybe if you have a lot of massive FD accounts and investment with a certain bank... it helps with your loan application...

@domng help as supporting factor, core factor like monthly income still play a critical role.

@msi 

If no lockin period, is there any minimum amount for outstanding loan balance? Take for example RM300,000 loan, minimum balance is RM30,000. If fall below that will incur additional financing charges. In other words, if you still owe the bank RM30,000, suggest to request full settlement as the additional charges is not worth it, not sure why there are such a clause in the loan agreement in the first place.

@6011_3531_5354 

Most likely you will get average of 4.4 to 4.5% depending on your personal portfolio as well =)

Hope Bank Negara revise the interest rate lower this year. I see that it will be Good for existing mortgage accounts. At the end of the day, banks will not make a lost no matter what rates set by BNM. They can just mitigate their risk and loses elsewhere. 

@6011_3531_5354 

Hi Nic, the fastest way to get an estimated loan repayment and interest is to go to loanstreet.com.my just punch in the figure and wah-la, all the bank interest rate is being listed out, you can even submit your document and get the loan directly from them, as they can assist you in securing your loan or you can always based on that comparison approach a bank loan agent (counter walk in is not encouraged, normally their bank valuation and loan offer is not attractive, unless you are a priority banking customer) 

@imronaldsoo 

Thanks for sharing. I can see that if we take a loan through loanstreet... there are freebies that await us... wonder how they profit from this?

hope that is really reliable, sometimes i tend to not believe much on "freebies" from websites for comparing loans, credit cards. haha~ Because not even me myself, some of my friends didn't get any freebies after sign up too. haha~

They gave the excuse that the freebies are fully redeemed? 

@domng ya, and said need to wait but no promising how long it will be~ and there's some comments at their fanspage complaint that they didnt get freebies as well.

@windzneom 

Normally. If they say need to wait. It usually means wait indefinitely. Unless they able to give a deadline. 

@domng you will never get a deadline from them, haha

@windzneom 

I think this is their standard memorized answer... similar to when your order is late at a restaurant... it is always "We are working on it"... Else the hungry customer will just leave the restaurant to eat in a fast food chain ya.

@domng haha. Yea, exactly, until like certain period, then you will just let it be, JOB DONE. haha

@windzneom 

Nowadays if we vent our frustration in social media... everyone will know, including the owner of the restaurant... haha

@domng yea... no privacy. haha

@windzneom 

That is why I try not to use too much of social media... somebody sitting in an office might be tracking us unintentionally... haha 

haha...yea.. sometimes, our boss or HR too. 

@windzneom 

If we don't use company or wifi to access... they cannot track our smart phone activity... unless it is company phone. Haha

@domng my previous company do check our fb or social media, that's why sometime we need to set to private account instead of public. haha

@windzneom 

Your ex-company IT department... Sure are busy folks... Company pay them to browse on other colleague's Social Media accounts. LoL

@domng Haha~ I guess so. I think they often google my name. haha~

@windzneom 

Your nickname is very unique to begin with. 

@6011_3531_5354 thanks for sharing