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Alliance Bank Housing Loan
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trojan



Joined: 17 Mar 2006
Posts: 198

PostPosted: Fri Nov 10, 2006 11:06 pm    Post subject: Reply with quote

U guys comparing whether this or that is "true flexi' loan or not... can someone enlighten me, what r the criteria that define "true flexi"?

Thanks!!
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lucas93



Joined: 02 Oct 2006
Posts: 42

PostPosted: Mon Nov 13, 2006 10:59 pm    Post subject: Reply with quote

Chin huat,
Sorry about that, I've forgotten about the contact . My number is 012-3862722.
Well like I told you the Kinrara Mas project developer has given exclusive rights to Alliance bank. Although you can still finance with other banks but I was told that the developer is making things difficult for other banks.
It would seem that you are stuck with Alliance. However you can ask the developer for any new ties with other banks.
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joeblack



Joined: 12 Oct 2006
Posts: 4

PostPosted: Thu Nov 16, 2006 10:49 am    Post subject: Reply with quote

lucas93 wrote:
Hello Joeblack,
If you have signed then your options would be to ask the lawyer to hold the loan agreement or cancel it.
But if the rate is the only thing you are not happy with I don't think its that big deal for you to go and cancel the application. If its the term & condition that you find not agreeable or if its the bank service that you don't like then I might suggest you to cancel it. Rates are important, but banking experience is far more important.

Hi lucas93,
thanks for your response.
why do you think rates are less important? Mind to explain more?
I have doubts because StanChart is offering much better rates: M1, ZEC, 5.7% 1-3 yrs, BLR-1.05 4-5 yrs, BLR - 0.65 remaining. Compare to mine (5.95% 1-3 years, BLR-0.60 remaining), I see big difference. I'm not sure how 'big' it is, any idea?
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lucas93



Joined: 02 Oct 2006
Posts: 42

PostPosted: Fri Nov 17, 2006 12:39 am    Post subject: Reply with quote

Hi trojan,
Well.... true flexi i believe only came out because the is too many normal term loan naming their package as flexi loan. The nain difference are in the convenience of withdrawal and prepayment.... (whether or not your extra prepayment will actually negate your principle automatically). On top of that you should also note the terms and condition of prepayment such as how much you can actually prepay into your loan in the 5 year holding period. How many days do you have to notify the banks for withdrawal of extra funds? and is there any charge for each transaction?
All this will be stated in the offer letter.

joe black,
What package did you take for alliance? ZEC / NZEC? Savelink?
Are you sure Stan Chart is offering that rate for ZEC?
It looks more like a rate for Non zero moving cost unless if you are taking a big loan. As far as I know we are not the best in rates, we are only competetive. What sets us apart is the loan facility but,.... if everything is as you mention then its a big diference.
When I say that rates is secondary I meant to say that the facility that comes with the loan and how it suits your need is what really will save you interest. Other than that you should always consider you future banking experience because a bank with poor service will certainly make your life less enjoyable Smile
I'm not saying that any of the bank you mention has poor service or anything. My point is .... it is not wise to buy something just because its price is lower than others....
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joeblack



Joined: 12 Oct 2006
Posts: 4

PostPosted: Mon Nov 20, 2006 7:15 am    Post subject: Reply with quote

lucas93 wrote:

joe black,
What package did you take for alliance? ZEC / NZEC? Savelink?
Are you sure Stan Chart is offering that rate for ZEC?
It looks more like a rate for Non zero moving cost unless if you are taking a big loan. As far as I know we are not the best in rates, we are only competetive. What sets us apart is the loan facility but,.... if everything is as you mention then its a big diference.
When I say that rates is secondary I meant to say that the facility that comes with the loan and how it suits your need is what really will save you interest. Other than that you should always consider you future banking experience because a bank with poor service will certainly make your life less enjoyable Smile
I'm not saying that any of the bank you mention has poor service or anything. My point is .... it is not wise to buy something just because its price is lower than others....

Alliance = ZEC-Savelink.
StanChart = ZEC-M1. Loan = 280K. I don't know about service, but if the difference is really big, then I don't mind having less service. Smile I don't bank too much, anyway. Just paying the installment every month, which is most likely be done automatically. Only thing is probably Alliance = local = many branches/atms while stanchart = international = less branches/atms.
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lucas93



Joined: 02 Oct 2006
Posts: 42

PostPosted: Thu Nov 23, 2006 7:29 pm    Post subject: Reply with quote

Laughing
Never say you don't mind having less service.........
If you don't bank a lot its more important that the service is good, I guess you'll know when you do experience it.
But anyway I guess Alliance is not that bad anyway. However If you think that you'll just bank in the installment every month without caring about managing your debt, then I think the 0.3 or 0.4% is going to determine your overall cost. But frankly for the moment I still haven't seen any rate for ZEC like the one you get for M1. Its definately a NZEC for a loan of 300k simply because of the 5.7% fixed rate. 5.7% for 1-3rd year and BLR rate thereafter is the face rate we have.
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DrayCke



Joined: 21 Nov 2006
Posts: 12

PostPosted: Fri Dec 01, 2006 9:55 pm    Post subject: Reply with quote

One of the Alliance Banker offer me the rates as below. I wonder anyone could offer me better rates? I'm getting The Tropics at Damansara and would like to have 90% housing loan.

Alliance SaveLink - ZEC Package
First Year - BLR - 3.75%
Second Year - BLR - 1.00%
3rd - 10th Year - BLR +0.15%
Thereafer - BLR - 1.20%
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lucas93



Joined: 02 Oct 2006
Posts: 42

PostPosted: Sun Dec 03, 2006 1:11 am    Post subject: Reply with quote

Hi DrayCke,
If you ask only of rates I wouldn't saw its a good rate choice because its better to have a lower interest on the 3 - 5th year because the 1st years disburse amount is progressive.
eg. loan amount of 100k if disburse only 20% then interest is calculated based on 20K.
However I'm not sure of what other options you do have... You have to check on the other end-financier.
I'm afraid I can't help you now.... we are still waiting for approval of end-financing this project.
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chinhuat1741



Joined: 06 Nov 2006
Posts: 278

PostPosted: Sun Dec 03, 2006 3:50 pm    Post subject: Reply with quote

hi DrayCke, i just sign up Alliance HL also, but she revise the rate for me,
it is the project in Kinrara - KinraraMas by HR United Sdn Bhd,
if u need her contact, let me know. don worry, i don get any commissions...ok, i just to help you all and also exchanging opinion on the HL, as i first timer, wanna learn more.


First Year - BLR - 5.75%
Second Year - BLR - 1.25%
3rd - 10th Year - BLR + 0 %
Thereafer - BLR - 1.20%


DrayCke wrote:
One of the Alliance Banker offer me the rates as below. I wonder anyone could offer me better rates? I'm getting The Tropics at Damansara and would like to have 90% housing loan.

Alliance SaveLink - ZEC Package
First Year - BLR - 3.75%
Second Year - BLR - 1.00%
3rd - 10th Year - BLR +0.15%
Thereafer - BLR - 1.20%
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DrayCke



Joined: 21 Nov 2006
Posts: 12

PostPosted: Sun Dec 03, 2006 7:01 pm    Post subject: Reply with quote

chinhuat1741
Please give her contact number to me please.
my email is drayckel@hotmail.com

Thank you.
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chinhuat1741



Joined: 06 Nov 2006
Posts: 278

PostPosted: Mon Dec 04, 2006 9:07 am    Post subject: Reply with quote

Hi DrayCkel,
check ur mail..k...

thanks.

DrayCke wrote:
chinhuat1741
Please give her contact number to me please.
my email is drayckel@hotmail.com

Thank you.
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chinhuat1741



Joined: 06 Nov 2006
Posts: 278

PostPosted: Mon Dec 04, 2006 9:10 am    Post subject: Reply with quote

Hi lucas...

i just recently sign the loan agreement, is alot, 4set and is 3types of agreement...it is a standard for all the bank ?
how bout the content in there ? i does not read much as too many pages.
initially i just read those that important.
where would i can find whether the offer is a flexi or term ?
this is the rate after nego with my banker.

First Year - BLR - 5.75%
Second Year - BLR - 1.25%
3rd - 10th Year - BLR + 0 %
Thereafer - BLR - 1.20%

is it good rate ? coz HSBC offer me BLR-1% for whole tenure, but i did not sign up. alot ppl saying that HSBC only can offer the max is BLR - 1%




lucas93 wrote:
Chin huat,
Sorry about that, I've forgotten about the contact . My number is 012-3862722.
Well like I told you the Kinrara Mas project developer has given exclusive rights to Alliance bank. Although you can still finance with other banks but I was told that the developer is making things difficult for other banks.
It would seem that you are stuck with Alliance. However you can ask the developer for any new ties with other banks.
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