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AmBank HomeLink : For Sub Sale / Refinancing Package

 
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zulnine



Joined: 02 Nov 2006
Posts: 33
Location: Kuala Lumpur

PostPosted: Tue Mar 27, 2007 11:02 am    Post subject: AmBank HomeLink : For Sub Sale / Refinancing Package Reply with quote

GOOD NEWS TO EVERYBODY !!! Shocked

With HomeLink, your housing loan is directly link to current account. Therefore, you'll enjoy interest saving when you deposit more money into the current account.

You'll save up to RM77,766* in your housing loan interest and reduce loan tenure.
* Based on Loan Amount RM200,000, over 20 years, interest rate of 5.55%, with monthly deposit of RM1,000 in Current Account.

In addition, we also throw in exclusive gifts for all approved application, which they can redeem their gift upon full drawn of the facility.

KEY BENEFITS :

- Interest Saving as Housing Loan is directly link to Current Account
- FREE high value home appliances from Electrolux and LG
- Low Interest Rate
- Full ZERO ENTRY COST
- High Margin of Finance

KEY PRODUCT FEATURES : Financing / Refinancing of Residential Completed Property

Interest Rate : With Gifts / Without Gifts

ZEC - BLR - 1.20% / BLR - 1.30% Throughout Loan Tenure
NZEC - BLR - 1.35% / BLR - 1.40% Throughout Loan Tenure

Margin of Finance : Up to 90% (95% with MRTA)* of SPA Price / OMV

* Minimum loan amount is RM150,000

Overdraft Facility : Available for eligible customer at BLR + 0.50%

Gifts Detail :

Loan Amount : RM150K - RM299K (Electrolux Washer 5.5kg), RM300K - RM499K (Electrolux Washer 7kg or Dryer 5kg), RM500K and above ( Washer & Dryer or LG Side-by-Side Fridge 581L)

Offer Validity : 3 months till 30th June 2007

SO ACT NOW, FINANCE OR REFINANCE YOUR PROPERTY WITH US AND ENJOY LOW INTEREST RATE WITH EXCLUSIVE GIFTS FOR YOU !!! Very Happy Very Happy Very Happy

For enquiry, kindly email to me at zulnine@rocketmail.com
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marxdean



Joined: 06 Nov 2006
Posts: 477

PostPosted: Tue Mar 27, 2007 11:41 am    Post subject: Re: AmBank HomeLink : For Sub Sale / Refinancing Package Reply with quote

zulnine wrote:

With HomeLink, your housing loan is directly link to current account. Therefore, you'll enjoy interest saving when you deposit more money into the current account.

You'll save up to RM77,766* in your housing loan interest and reduce loan tenure.
* Based on Loan Amount RM200,000, over 20 years, interest rate of 5.55%, with monthly deposit of RM1,000 in Current Account.



Hi Zulnine,

Please show us a comparison between two detailed amortization tables (for the said example) in order to prove what you have claimed. Thanks ! Wink


Last edited by marxdean on Tue Mar 27, 2007 12:21 pm; edited 1 time in total
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mhui80



Joined: 20 Mar 2007
Posts: 10

PostPosted: Tue Mar 27, 2007 12:14 pm    Post subject: Reply with quote

hi, is this home loan only apply for completed property how about undercontruction?
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zulnine



Joined: 02 Nov 2006
Posts: 33
Location: Kuala Lumpur

PostPosted: Tue Mar 27, 2007 12:29 pm    Post subject: Reply with quote

mhui80,

Quote:
hi, is this home loan only apply for completed property how about undercontruction?


This package applies to finance / refinance completed residential property. For property under construction, the package is based on individual project (tied-up project) and it is depend on the proposed property/ project.

If you required further detail on under construction package, kindly email it to me
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NumberTWO



Joined: 30 Mar 2005
Posts: 220

PostPosted: Tue Mar 27, 2007 12:34 pm    Post subject: Reply with quote

What is the lock-in period of this offer?

Tks.
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mhui80



Joined: 20 Mar 2007
Posts: 10

PostPosted: Tue Mar 27, 2007 12:41 pm    Post subject: Reply with quote

please check ur mail
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b00n



Joined: 22 Jan 2007
Posts: 70

PostPosted: Tue Mar 27, 2007 12:48 pm    Post subject: Reply with quote

more clarification on account maintenance charges...
again, if it's a loan account linking to current account; what's the interest earning on the current account? As per normal current account?
More elaboration on how it really works instead of the usual "Low Interest Rate", "Interest savings", "gifts" etc.....

Say, If my installment is RM1000 and I put in additional RM1000 into my current account.
So what happened to the Rm2000?..Rm1000 for monthly installment. Another RM1000??...

And how do I know or verify whether or not there's interest savings?
By looking at statements? Current account statements or my outstanding loan statments?
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tgrrr



Joined: 18 Jan 2007
Posts: 135

PostPosted: Tue Mar 27, 2007 1:14 pm    Post subject: Reply with quote

Quote:
You'll save up to RM77,766* in your housing loan interest and reduce loan tenure.
* Based on Loan Amount RM200,000, over 20 years, interest rate of 5.55%, with monthly deposit of RM1,000 in Current Account.


I take it from the above statement, that the monthly deposit is additional deposit on top of the monthly installments? If so then this is actually similar to prepayment am I right?
Perhaps as Marxdean stated, please provide a detailed amortization tables for clear understanding.

Thanks![/quote]
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marxdean



Joined: 06 Nov 2006
Posts: 477

PostPosted: Tue Mar 27, 2007 1:35 pm    Post subject: Re: AmBank HomeLink : For Sub Sale / Refinancing Package Reply with quote

zulnine wrote:

With HomeLink, your housing loan is directly link to current account. Therefore, you'll enjoy interest saving when you deposit more money into the current account.

You'll save up to RM77,766* in your housing loan interest and reduce loan tenure.
* Based on Loan Amount RM200,000, over 20 years, interest rate of 5.55%, with monthly deposit of RM1,000 in Current Account.


I have taken a couple of minutes to verify the possibility in saving RM77,766 as claimed based on the example * Based on Loan Amount RM200,000, over 20 years, interest rate of 5.55%, with monthly deposit of RM1,000 in Current Account.

Case #1
If * Based on Loan Amount RM200,000, over 20 years, interest rate of 5.55% is to be settled with term loan:

Monthly Repayment = RM 1,381.43 ( for 20 x 12 = 240 terms )
Total Interest Payable = RM 131,542.89

provided no prepayment is ever made and the interest rate does not change in the whole 20 years.

Case #2
If * Based on Loan Amount RM200,000, over 20 years, interest rate of 5.55%, with monthly deposit of RM1,000 in Current Account. is to be settled with this HomeLink package:

Monthly Repayment = RM 1,381.43 ( for 106 terms )
Total Interest Payable = RM 53,134.22

Total Interest Saved with HomeLink = RM 131,542.89 - RM 53,134.22 = RM 78.408.67 (which is closed to the value as claimed)

only with ALL the following conditions met:
1) one must keep on repaying RM1,381.43 for 106 terms
2) one must keep on depositing RM1,000.00 into the current account every single months for 106 months
3) one cannot take out any money from this current account in the period of 106 months
4) In repayment month #106, the accumulated amount in the current account will be used to paid off the entire loan, plus another RM702.78.

Please correct me if I am wrong. Wink
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marxdean



Joined: 06 Nov 2006
Posts: 477

PostPosted: Tue Mar 27, 2007 2:21 pm    Post subject: Re: AmBank HomeLink : For Sub Sale / Refinancing Package Reply with quote

Hi Zulnine,

Sorry Exclamation Not to attack you but I wonder you need to re-phase your advertisement here (and also the flyers, if you have copied these statements from your bank's flyer) ...


zulnine wrote:



KEY BENEFITS :

- FREE high value home appliances from Electrolux and LG

KEY PRODUCT FEATURES : Financing / Refinancing of Residential Completed Property

Interest Rate : With Gifts / Without Gifts

ZEC - BLR - 1.20% / BLR - 1.30% Throughout Loan Tenure
NZEC - BLR - 1.35% / BLR - 1.40%



Simply speaking the client has almost effectively paid "0.1%" or "0.05%" of his total outstanding loan amount each year to get the "gift"

so, FREE Question Question Question Question Question Question Question
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zulnine



Joined: 02 Nov 2006
Posts: 33
Location: Kuala Lumpur

PostPosted: Wed Mar 28, 2007 5:39 pm    Post subject: Reply with quote

NumberTwo,

Quote:
What is the lock-in period of this offer?


Lock in period is 5 yrs from 1st disbursement, however, u can deposit fund into the current a/c to reduce on the interest payment.

Boon,

Quote:
more clarification on account maintenance charges...


There is maintenance charges of RM5.00 monthly from the date of opening current a/c.

Quote:
...if it's a loan account linking to current account; what's the interest earning on the current account? As per normal current account?


The current a/c is not interest bearing a/c & the a/c is normal current a/c with cheque book & ATM facility.

Quote:
Say, If my installment is RM1000 and I put in additional RM1000 into my current account.
So what happened to the Rm2000?..Rm1000 for monthly installment. Another RM1000??...


Total deposit of RM2,000 will deposited directly into the current a/c & the bank will deduct his current a/c for the monthly instalment of RM1,000. The monthly interest charged is based on principle o/s minus RM1,000 from ur current a/c. You also can withdraw the available fund anytime.

tgrrr,

Quote:
I take it from the above statement, that the monthly deposit is additional deposit on top of the monthly installments? If so then this is actually similar to prepayment am I right?


Yes, it works like prepayment but the fund deposited into the a/c can be utilised anytime without informing the bank. The monthly deposit of RM1,000 is for illustration only and it depends on the customer on how much he wants to deposit in the a/c.

Marxdean,

Quote:
Simply speaking the client has almost effectively paid "0.1%" or "0.05%" of his total loan amount each year to get the "gift


Yes, the customer almost effectively paid "0.1%"or "0.05%" of his total loan amt each year to get the gift but they can also opt not to take the gift if they want to enjoy lower interest rate of BLR - 1.30% (ZEC) or BLR - 1.40% (NZEC). So it all depend on the customer needs and want.

Hope I have answered all your burning questions and also we are here to provide true informations/ services to any interested parties. But sometime, the information provided are being misinterpreted and you are most welcome to ask any question for further clarification. Very Happy Very Happy

So you better act fast coz the promotion is only valid till 30th June 2007 and don't miss out on the oppurtunity. Very Happy Very Happy

Pls email me at zulnine@rocketmail.com for further enquiry.
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marxdean



Joined: 06 Nov 2006
Posts: 477

PostPosted: Thu Mar 29, 2007 10:11 am    Post subject: Reply with quote

zulnine wrote:

Yes, the customer almost effectively paid "0.1%"or "0.05%" of his total loan amt each year to get the gift but they can also opt not to take the gift if they want to enjoy lower interest rate of BLR - 1.30% (ZEC) or BLR - 1.40% (NZEC). So it all depend on the customer needs and want.


So in conclusion, there is actually no such thing as "FREE", right ?

zulnine wrote:

Hope I have answered all your burning questions and also we are here to provide true informations/ services to any interested parties. But sometime, the information provided are being misinterpreted and you are most welcome to ask any question for further clarification. Very Happy Very Happy


Have I "misinterpreted" anything Question Please, tell me as I would like to learn MORE. Embarassed

By the way, I wonder if it is "IMPOSSIBLE" for you to provide a detailed monthly amortizing table for the example you have quoted in order to prove that it is possible to save us RM77,766.00 Question. I am looking forward to this eagerly as I wish to verify the way I calculate is correct Exclamation Embarassed Embarassed Wink Millions thanks in advance.
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