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AIA HOME LOAN
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banz



Joined: 26 Dec 2005
Posts: 76

PostPosted: Wed Jan 18, 2006 12:07 am    Post subject: AIA HOME LOAN Reply with quote

I've got a question regarding the AIA fixed rate home loan. If your installments are fixed for the duration of the loan, will it still be possible to reduce your loan tenure by depositing additional per month ala flexi loans? And also do they offer overdraft facilities for withdrawals?

I have also heard that AIA is now offering a fixed rate of i think 5.96% for AIA insurance policy holders. Can anyone confirm that?
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Josh



Joined: 18 Jan 2006
Posts: 2

PostPosted: Wed Jan 18, 2006 8:28 pm    Post subject: Reply with quote

I heard that the loan are daily rest and u can always do pre payment, it will reduce the interest.

BUT I'm curious about the package they give, fix 5.99%. I wonder what is the trick? seems like it is the best package in malaysia. If someone out there know more about this AIA 5.99% package, pls help, I want to know the downside of it, the things that AIA try to hide (I mean what they not gonna tell us unless we ask),

or maybe it is the best package

chears....
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Banzai



Joined: 25 Oct 2004
Posts: 3367

PostPosted: Wed Jan 18, 2006 9:02 pm    Post subject: Reply with quote

It';s good but it is for "residential" only. And you and your spouse must be joint applicants.

But it is a good package.
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nick1994



Joined: 24 Apr 2005
Posts: 6116

PostPosted: Wed Jan 18, 2006 9:59 pm    Post subject: Reply with quote

Josh wrote:
I heard that the loan are daily rest and u can always do pre payment, it will reduce the interest.

BUT I'm curious about the package they give, fix 5.99%. I wonder what is the trick? seems like it is the best package in malaysia. If someone out there know more about this AIA 5.99% package, pls help, I want to know the downside of it, the things that AIA try to hide (I mean what they not gonna tell us unless we ask),

or maybe it is the best package

chears....



heres 2....................

1) ...i dunno the state of your insurance........but if u'r adequately insured & none of your policies r AIA, its a MUST u take up a policy coverage with them...

2).....not flexible on the prepayments......anything u pay down, u can redraw...............as 4 me, i value redraw flexibility quite highly....but thats me....
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freeloader



Joined: 16 Oct 2005
Posts: 50

PostPosted: Wed Jan 18, 2006 10:38 pm    Post subject: Re: AIA HOME LOAN Reply with quote

banz wrote:
I've got a question regarding the AIA fixed rate home loan. If your installments are fixed for the duration of the loan, will it still be possible to reduce your loan tenure by depositing additional per month ala flexi loans? And also do they offer overdraft facilities for withdrawals?

I have also heard that AIA is now offering a fixed rate of i think 5.96% for AIA insurance policy holders. Can anyone confirm that?


Is 5.96% for completed properties or under construction? If it's for under construction, it's very cheap.

As far as I know, it's possible to pay more to reduce your outstanding but I don't think you can take it out later.
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banz



Joined: 26 Dec 2005
Posts: 76

PostPosted: Mon Jan 23, 2006 12:52 am    Post subject: Reply with quote

Spoke to an agent from AIA over the weekend. Information for the package goes like this.

1. Fixed 5.89% up to 30 years
2. Max 90% loan
3. At least one applicant must be AIA life insurance policy holder
4. Penalty if refinance with other bank within 5 years
5. Property under construction must be under approved developers panel
6. No overdraft/withdrawal facility
7. Pre payment allowed
8. Daily rest

Hope this helps. Sounds like a good deal to me.
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nick1994



Joined: 24 Apr 2005
Posts: 6116

PostPosted: Mon Jan 23, 2006 10:40 am    Post subject: Reply with quote

...bad if u have extra surplus cash which u may want 2 dump in 2 reduce interest....................

but oso which u may want the flexibility 2 redraw again......................




AIA loan tabole
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freeloader



Joined: 16 Oct 2005
Posts: 50

PostPosted: Mon Jan 23, 2006 11:11 pm    Post subject: Reply with quote

banz wrote:
Spoke to an agent from AIA over the weekend. Information for the package goes like this.

1. Fixed 5.89% up to 30 years
2. Max 90% loan
3. At least one applicant must be AIA life insurance policy holder
4. Penalty if refinance with other bank within 5 years
5. Property under construction must be under approved developers panel
6. No overdraft/withdrawal facility
7. Pre payment allowed
8. Daily rest

Hope this helps. Sounds like a good deal to me.


whoaa... 5.89% fixed for property under construction is a great deal. I thought 5.89% was only for completed properties. I only managed 6.25%. Confused
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syfzzz



Joined: 24 Nov 2005
Posts: 19
Location: Penang

PostPosted: Tue Jan 24, 2006 11:23 am    Post subject: Reply with quote

I was told by the agent that the 5.89% offer only valid until 16 Dec 05, and urge me to act fast, for that the rate may be increased due to BLR raise. So the rate now is still 5.89%?
I just signed the loan agreement, and the lawyer told me that they actually representing AIA, not me, although I paid all the legal fee (AIA wants confirmation that the borrower paid ALL the legal fee before they proceed the loan). Can't read through the whole inches-thick agreement, ask the lawyer and was told that the important terms are all included in Letter of Offer, the rest is just standard clauses...so any opinion or advice on this?
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wctiong



Joined: 17 Oct 2005
Posts: 30

PostPosted: Tue Jan 24, 2006 7:26 pm    Post subject: Reply with quote

syfzzz wrote:
I was told by the agent that the 5.89% offer only valid until 16 Dec 05, and urge me to act fast, for that the rate may be increased due to BLR raise. So the rate now is still 5.89%?
I just signed the loan agreement, and the lawyer told me that they actually representing AIA, not me, although I paid all the legal fee (AIA wants confirmation that the borrower paid ALL the legal fee before they proceed the loan). Can't read through the whole inches-thick agreement, ask the lawyer and was told that the important terms are all included in Letter of Offer, the rest is just standard clauses...so any opinion or advice on this?


How much you paid the loan legal free?
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syfzzz



Joined: 24 Nov 2005
Posts: 19
Location: Penang

PostPosted: Wed Jan 25, 2006 11:58 am    Post subject: Reply with quote

RM2.9k for 180k loan, without caveat.
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aBug



Joined: 11 Jan 2006
Posts: 4

PostPosted: Fri Jan 27, 2006 4:53 pm    Post subject: Reply with quote

Quote:
3. At least one applicant must be AIA life insurance policy holder


Or one applicant must work in large company such as Intel, DHL, Ericsson, Shell and etc...
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Homelink



Joined: 19 Jun 2005
Posts: 268
Location: Kuala Lumpur

PostPosted: Thu Feb 02, 2006 2:51 am    Post subject: Reply with quote

I'm AIA home loan consultant. FYI 5.99% Fixed rate expired 31 Oct 2004. & Currently 5.89% is offered to existing AIA life policy holder who bought it before 1st Oct 2005 & also to approved corporate staff loan - listed & pre-filtered by AIA mortgage Dept. This 5.89% fixed in only valid for completed property only. pls visit the below link 4 more details. Wink
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yyee



Joined: 21 Feb 2006
Posts: 7
Location: KL

PostPosted: Tue Feb 21, 2006 5:37 pm    Post subject: AIA Home Loan Reply with quote

well, i personally think tat de AIA home loan is quite attractive cz now v heard abt de BNM wishes to raise de interest rates by de end of year 2006. wat would give u a peace of mind other than giving u a fixed rate of 6.25% p.a up to 30 years???? then, u will face BLR fluactuation no more!! Now u can put ur concentration on other matters no matter wat happen on de market!!!

beside AIA offers a flexi rate of BLR-0.38% p.a, capped at a maximum rate of 8.5% up to 30 years oso. tis is specially to those who doesnt wish to take up the obligation to locked up ur interest rate at 6.25%. u might gain when de BLR goes down and u wont lose too much when de BLR raises oso.

so, how do u think??? lets discuss on tis!!


rgds
yyee
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ngsway



Joined: 22 Feb 2006
Posts: 1

PostPosted: Wed Feb 22, 2006 9:54 pm    Post subject: Reply with quote

BNM is raising it's interest rates today. How soon do you think AIA will raise it's rates for the fixed-rate package? I'm in the mist of applying for the loan - I hope it will not affect me Confused
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Eric Koh



Joined: 23 Feb 2006
Posts: 25

PostPosted: Thu Feb 23, 2006 3:11 am    Post subject: AIA Home Loan Reply with quote

The Home Loan of 5.89% FIXED for 30 years is still offered now, until the funds are fully utilized. Do let me know if you are interested of this rate, erickoh33@gmail.com, or contact my associates

Chiew Hsia 012-223-5826
Patrick Tan 012-233-2811
Amelia Kong 013-397-2687

Interested be introducer of home loan, kindly email erickoh33@gmail.com for affiliate fees enquiries.

The loan rate closed anytime, do rush in and fix it 30 years!

Eric
012-299-2009
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yyee



Joined: 21 Feb 2006
Posts: 7
Location: KL

PostPosted: Thu Feb 23, 2006 11:55 am    Post subject: Re: AIA Home Loan Reply with quote

Eric Koh wrote:
The Home Loan of 5.89% FIXED for 30 years is still offered now, until the funds are fully utilized. Do let me know if you are interested of this rate, erickoh33@gmail.com, or contact my associates





i tot de 5.89% fixed is only for 10 years loan tenure??


rgds,
yyee
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kll



Joined: 17 Feb 2006
Posts: 49

PostPosted: Thu Feb 23, 2006 1:44 pm    Post subject: Reply with quote

i understand that some banks also give loan at fixed rates. some islamic loan and also recently, i heard that bank muamalat gives good fixed rates.

how do we compare? is AIA better?
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yyee



Joined: 21 Feb 2006
Posts: 7
Location: KL

PostPosted: Thu Feb 23, 2006 2:25 pm    Post subject: AIA Home Loan Reply with quote

kll wrote:
i understand that some banks also give loan at fixed rates. some islamic loan and also recently, i heard that bank muamalat gives good fixed rates.

how do we compare? is AIA better?



haha.... if u really want to compare, have to go thru all aspects, eg. de rate they offer, any promotion example some loan offer free legal fees and valuation fees, their services provided, any agents tat u know, ur convenience and also ur preferences lo. But make sure u get de best deal and do ur research before u make ur decision!!!

i think islamic loan has its own advantages but their NPL rate is quite high. As u know the AIA is an insurance company in nature. Thus they may want to make sure their loan offered is secure enough for them. Thus, AIA might put quite srict restriction on the approval but still encourage u to have a try. The only thing that AIA want is to make sure u r able to repay their loan. Thats why they need to browse thru the developer and your background before approve ur loan. They might apply case to case basis one.
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Homelink



Joined: 19 Jun 2005
Posts: 268
Location: Kuala Lumpur

PostPosted: Thu Feb 23, 2006 2:30 pm    Post subject: Re: AIA Home Loan Reply with quote

yyee wrote:
Eric Koh wrote:
The Home Loan of 5.89% FIXED for 30 years is still offered now, until the funds are fully utilized. Do let me know if you are interested of this rate, erickoh33@gmail.com, or contact my associates





i tot de 5.89% fixed is only for 10 years loan tenure??


rgds,
yyee


Visit here to check the current AIA package
.://..realestate.net.my/forum/viewtopic.php?p=17620#17620
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yyee



Joined: 21 Feb 2006
Posts: 7
Location: KL

PostPosted: Thu Feb 23, 2006 2:36 pm    Post subject: AIA Home Loan Reply with quote

dear homelink,

thanx for de info.


rgds,
yuenyee
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Homelink



Joined: 19 Jun 2005
Posts: 268
Location: Kuala Lumpur

PostPosted: Thu Feb 23, 2006 2:38 pm    Post subject: Reply with quote

kll wrote:
i understand that some banks also give loan at fixed rates. some islamic loan and also recently, i heard that bank muamalat gives good fixed rates.

how do we compare? is AIA better?


I think this should answers your question.


Interested to apply AIA Fixed Rate or need to know more? pls call my contact stated below Razz
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kll



Joined: 17 Feb 2006
Posts: 49

PostPosted: Thu Feb 23, 2006 7:34 pm    Post subject: Reply with quote

For AIA,

I see that it is for loan of < than RM500k. correct?

The margin is 90 % at 6.25%

What if the loan is for less than 90 %, is the rate still 6.25%?

What happens to the rate of 5.89% No longer offered?
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kll



Joined: 17 Feb 2006
Posts: 49

PostPosted: Thu Feb 23, 2006 7:35 pm    Post subject: Reply with quote

another question for AIA?

Can pay advance and reduce interest?

Can prepay?

Can withdraw?

thanks.
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Homelink



Joined: 19 Jun 2005
Posts: 268
Location: Kuala Lumpur

PostPosted: Thu Feb 23, 2006 8:53 pm    Post subject: Reply with quote

kll wrote:
For AIA,

I see that it is for loan of < than RM500k. correct?

The margin is 90 % at 6.25%

What if the loan is for less than 90 %, is the rate still 6.25%?

What happens to the rate of 5.89% No longer offered?


6.25% Fixed Rate is applicable from 75K - 1 mil loan.
regardless of any margin u applied the rate will still be 6.25%

5.89% is applicable for AIA life policy Holder before 1st Oct 2005 or AIA pre-qualified Corperates Staff whois buying a completed property & applying more than 100K loan*

for 5.89% fixed rate pls read this post
.://..realestate.net.my/forum/viewtopic.php?p=17620#17620

U are allowed to repay more, to early settle the loan of sell off the property anytime u want without paying any penalty. BUT u are not allowed to withdraw back whatever extra u've dump in.
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