Best Home Loan Promotions from Top Banks in Malaysia |
Posted: September 20, 2019 |
One of the largest investments a person makes in his or her lifetime is buying a home. Normally speaking. There is a small percentage of humanity that buys several houses or makes more expensive investments – but generally speaking, the single largest investment that a person makes is in a house. And to make that happen, come the various banks. Each trying to outdo the other with special rates and offers. Here we take a look at some of the Home Loan Promotions offered by some of the Banks in Malaysia. HSBC - If you get an approved home loan of over RM 1 million from HSBC, you qualify for Premier privileges. Apart from a dedicated Premier Relationship Manager, you get complimentary assistance to review your wealth management portfolio, have access to regular global research, market updates, investment opportunities, Liquid financial newsletters and more. You can also open a complimentary HSBC Premier Account, without having to meet any minimum total relationship balance/monthly salary requirements. You also get preferential rates on deposits, unit trusts, personal loans and property financing, special rates when you buy foreign currencies and fee-free online fund transfers with Global View & Global Transfers. Standard Chartered Bank – offers a ‘flexible’ home loan that they call MortgageOne, flexibility being their unique selling point. They have something called Flexible Withdrawals through which, you have the flexibility to withdraw all the interest you have saved in an emergency. Along with that, every Ringgit that you pay back, goes towards paying off the loan and not the interest, so you end up paying back the loan quicker. RHB – Now RHB bank is doing something slightly different. They try to attract you by offering 100% plus 10% financing! So you’re covered not only for the cost of the house, but for all the other trimmings that you might like to add – the furnishing and the woodwork. You can pretty much decorate the place as well. Apart from this, they have a loan called the Skim Rumah Pertamaku where they give first time home owners a loan of 100% plus 10% for 35 years or 70 years of age (whichever is sooner). Maybank – Maybank has a loan called the Maybank MaxiHome Ezy where they let you pay lower monthly installments for the first five years. In other words, you need to only pay the interest / profit part of the loan for the first five years, leaving you more cash in hand to take care of other expenses that typically pop up during the first few years of home ownership – such as moving-in-expenses, renovations etc. And even though you pay less initially, you can pay a larger amount later, so you save on interest. The additional payments may be withdrawn easily via m2u or OTC should you need the funds. These are some of the Home Loan Promotion that some banks offer in Malaysia. While there are several banks and several offers that they give, do make sure you take the time to study each one and find a home loan that works for you. Calculate your most comfortable monthly outflow and then decide. Take your time. It is all about making your dream house come to life, after all.
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