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5.8 % fixed .....

 
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jeff_yeosh



Joined: 17 Aug 2004
Posts: 28
Location: malaysia

PostPosted: Fri May 05, 2006 11:04 am    Post subject: 5.8 % fixed ..... Reply with quote

New Package

HONG LEONG BANK BERHAD
The criteria is : -

*Purchase of property .(comppleted or sub-sale)
*Refinancing.

Margin of finance : 90% + 5% (MDTA Optional)
Loan tenure : up to 30 years or age 65,whichever is earlier.
Interest Calculation : [color=blInterest Rate
1st 5 years :5.8%p.a
Thereafter :BLR +0.28% (with MDTA)
or
BLR +0.30% p.a (without MDTA)ack]Daily Rest[/color]
Minimum term loan amount: 100k


HOW can you benefit if you choose this 5 years loan package compared with BLR-0.8 % throughout the loan tenure package offered by other banks?

If the BLR increase by another 0.25%,the average interest rate for the 1st 5years in HLB is still mantained at 5.80% p.a as compared to BLR -0.8% package, whereby the interest rate will increase to 5.95%p.a ie.higher by 0.15% compare to HLB offer in the 1st 5 years.

If the BLE increases by 0.50% you will save up to 0.40% p.a compare to BLR -0.80% package.The average life cycle of a mortgage loan is approx. 8 years,hus,the customer enjoys higher upfront interest savings for the majoritty of the tenure if the customer settle the loan after 8 years to upgrade to another property.


This promotion rate will expire on 30/6/06.
For those who want to save money,take advantage of this package.
For more datails pls pm me or sms ur contact numer to 012-2845254.
Thanks.


Last edited by jeff_yeosh on Sat May 06, 2006 5:34 pm; edited 1 time in total
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slappy



Joined: 05 May 2006
Posts: 19

PostPosted: Fri May 05, 2006 3:19 pm    Post subject: Reply with quote

Is there any penalty for early settlement or refinancing thereafter? In other words, is there a lock-in period?
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dannysao



Joined: 12 Aug 2005
Posts: 47
Location: KL

PostPosted: Fri May 05, 2006 10:54 pm    Post subject: hiden Reply with quote

saw this in the HLB cheras, but no time to ask, ca u share what is hiden..
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jeff_yeosh



Joined: 17 Aug 2004
Posts: 28
Location: malaysia

PostPosted: Sat May 06, 2006 5:39 pm    Post subject: check this out Reply with quote

1. LOCk In period is 5 years...
2. YOu will have the flexibility to pay and withdraw money.
3. It works like mortgage plus.

Hong Leong MortgagePlus combines a standard term loan with transactional freedom of a current account. In principle, whenever you deposit or make additional funds into your current account, your current account balance will be used to reduce the loan balance outstanding for interest computation, thus helping you to save on interest payments.

For every MortgagePlus, 2 types of a/c need to be opened/maintained :-
a MortgagePlus loan a/c
a non-interest bearing MortgagePlus current a/c linked to (i) above
The loan outstanding balance will be set off by credit balance of the current account for daily interest computation.

Therefore, every extra Ringgit that you deposit into the linked current account will reduce the interest on your loan.

RM10.00 mantainese fee monthly and RM200.00 set up fee for one time only.
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leopeter01



Joined: 03 Jun 2006
Posts: 2

PostPosted: Sat Jun 03, 2006 11:08 am    Post subject: Reply with quote

Hong Leong staff in Johor told me yesterday that this package was no longer available ...

Please confirm....
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jeff_yeosh



Joined: 17 Aug 2004
Posts: 28
Location: malaysia

PostPosted: Sun Jun 04, 2006 12:34 pm    Post subject: hi ,i am jeff here Reply with quote

untill end of the month..
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seansss



Joined: 05 Jun 2006
Posts: 1

PostPosted: Mon Jun 05, 2006 11:44 am    Post subject: Re: hi ,i am jeff here Reply with quote

jeff_yeosh wrote:
untill end of the month..

I understand that this 5.8% come with 2 packages :-
1) Mortgage Plus
2) Islamic Financing

For comparison:-
If I going to fully settle the loan say in 10 years, which package is cheaper or more benefit. (affraid some hidden cost shall incurred differently).

Thanks
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@Dreamz&



Joined: 14 Jun 2006
Posts: 3

PostPosted: Wed Jun 14, 2006 10:17 am    Post subject: Reply with quote

But it seem to me that the offer from the OCBC bank is more attractive than the Hong Leong Bank.
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