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Any bank provide renovation loan?

 
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lizmoon8



Joined: 23 Mar 2009
Posts: 4

PostPosted: Mon Mar 23, 2009 1:17 pm    Post subject: Any bank provide renovation loan? Reply with quote

Hi,

Would like to know any bank provide loan for renovation.interest and pay back time? Very Happy
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jwgan822003



Joined: 28 Oct 2006
Posts: 59
Location: Kuala Lumpur

PostPosted: Tue Mar 24, 2009 2:30 pm    Post subject: Re: Any bank provide renovation loan? Reply with quote

lizmoon8 wrote:
Hi,

Would like to know any bank provide loan for renovation.interest and pay back time? Very Happy


OCBC Bank got offer this facility call Home Extra

Features as below:

•Additional loan available on top of the Housing Loan amount up
to 100% of the collateral value
•Amount given is up to 8 times borrower’s net monthly income or
up to maximum of RM100,000*
•No restriction on usage of the additional loan
•Additional loan disbursed to borrowers savings or current
account

Interest rate as below:

BLR + 2.25% (NZMC)
BLR + 2.55% (ZMC)

Loan Repayment period:

•Min 3 years
•Max 7 years

If you want to find out more about this please do contact me

Edwin Gan
017- 235 9199
edwin.gan@choice1.com.my
..choice1.com.my
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Merce



Joined: 01 Apr 2008
Posts: 112

PostPosted: Tue Mar 24, 2009 11:26 pm    Post subject: Re: Any bank provide renovation loan? Reply with quote

lizmoon8 wrote:
Hi,

Would like to know any bank provide loan for renovation.interest and pay back time? Very Happy


Its call Home Extra at OCBC.

Its an additional term loan on top of your housing loan (up to 100% loan margin).

Interest rate is charged at BLR + 2.55% for ZMC and BLR + 2.25% for nZMC.

Maximum loan tenure for this particular term loan is 7 years.

Do let me know if you need further information on this.


Regards,

Merce Chua
Assistance Manager
OCBC Bank (M) Bhd
Jalan Tuanku Abdul Rahman
019 - 913 1127
ChuaCChie@OCBC.com
----------------------------
Call me for the FREE items;
FREE OCBC Mortgage consultancy
FREE Personal Loan consultancy
----------------------------
Collection:
Sheaffer Targa 1002 (1980-1988) Steel Nib
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leezhernyuen1



Joined: 17 Mar 2009
Posts: 25

PostPosted: Tue Mar 24, 2009 11:50 pm    Post subject: Reply with quote

Yes, one of a kind product: OCBC Home Xtra is the only 'renovation aka personal contingency' loan on top of your property financing.

cheaper than personal loan, with longer tenure (30years? can someone confirm)
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lizmoon8



Joined: 23 Mar 2009
Posts: 4

PostPosted: Wed Mar 25, 2009 11:29 am    Post subject: Re: Any bank provide renovation loan? Reply with quote

location :Juru,Penang
loan amount:Rm90,000-100,000
Age:26 female
Income: Rm5000

how much i can borrow and izzit posibble to get 100%loan?(housing & renovation loan)Purchase from second owner...renovation bout rm50,000..
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Merce



Joined: 01 Apr 2008
Posts: 112

PostPosted: Tue Mar 31, 2009 11:38 pm    Post subject: Reply with quote

Quote:
Yes, one of a kind product: OCBC Home Xtra is the only 'renovation aka personal contingency' loan on top of your property financing.

cheaper than personal loan, with longer tenure (30years? can someone confirm)


lower interest rate than personal loan <-- yes
longer tenure <-- no, maximum repayment period is 7 years.


Regards,

Merce Chua
Assistance Manager
OCBC Bank (M) Bhd
Jalan Tuanku Abdul Rahman
019 - 913 1127
ChuaCChie@OCBC.com
----------------------------
Call me for the FREE items;
FREE OCBC Mortgage consultancy
FREE Personal Loan consultancy
----------------------------
Collection:
Sheaffer Targa 1002 (1980-1988) Steel Nib
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Shellymaple



Joined: 26 Mar 2009
Posts: 133
Location: Illinois, Chicago

PostPosted: Wed Apr 01, 2009 5:27 pm    Post subject: Reply with quote

It is called the top up loan which is given after you availing the home loan.

It depends upon the eligibility.

But definitely you can avail.
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wuga98



Joined: 25 Mar 2009
Posts: 8

PostPosted: Tue May 05, 2009 10:26 am    Post subject: Re: Any bank provide renovation loan? Reply with quote

is this the only reno loan avail in Malaysia? Question

jwgan822003 wrote:
lizmoon8 wrote:
Hi,

Would like to know any bank provide loan for renovation.interest and pay back time? Very Happy


OCBC Bank got offer this facility call Home Extra

Features as below:

•Additional loan available on top of the Housing Loan amount up
to 100% of the collateral value
•Amount given is up to 8 times borrower’s net monthly income or
up to maximum of RM100,000*
•No restriction on usage of the additional loan
•Additional loan disbursed to borrowers savings or current
account

Interest rate as below:

BLR + 2.25% (NZMC)
BLR + 2.55% (ZMC)

Loan Repayment period:

•Min 3 years
•Max 7 years

If you want to find out more about this please do contact me

Edwin Gan
017- 235 9199
edwin.gan@choice1.com.my
..choice1.com.my
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ScuZziE



Joined: 12 Feb 2009
Posts: 1

PostPosted: Wed Jun 03, 2009 12:45 pm    Post subject: Re: Any bank provide renovation loan? Reply with quote

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klchong



Joined: 27 May 2009
Posts: 23
Location: Kota Emerald

PostPosted: Thu Jun 04, 2009 11:04 am    Post subject: Reply with quote

Thanks for the sharing, Scuzzie.
But I think this is not renovation loan, it just redraw from what you have paid?
I think there is another way by taking personal loan. I saw Ambank offering personal loan with 8.99% flat rate with free LCD( minimum 15K). Check this out from their website.
Cool .://..ambg.com.my/promotions/personal/creditcard/balancetransferquickcash/balancetransferquickcash.asp[/url]
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