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Any OCBC housing loan agent here?
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KenLee



Joined: 03 Sep 2006
Posts: 53
Location: KL

PostPosted: Mon Sep 18, 2006 3:37 pm    Post subject: Any OCBC housing loan agent here? Reply with quote

I would like to know more detail, would you please PM me?

Would prefer agent able to meet up with us after working hour (may be 8.00pm-10.00pm) within Kepong area.

Thank you
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NewKENZO



Joined: 01 Jun 2006
Posts: 198
Location: Subang

PostPosted: Wed Sep 20, 2006 9:54 pm    Post subject: Reply with quote

after u meet an OCBC agent, would you pls tell what is their flexibility? I want to see whose features are better between UOB and OCBC.

Ty very much.
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Kenzo
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KenLee



Joined: 03 Sep 2006
Posts: 53
Location: KL

PostPosted: Thu Sep 21, 2006 1:34 am    Post subject: Reply with quote

NewKENZO wrote:
after u meet an OCBC agent, would you pls tell what is their flexibility? I want to see whose features are better between UOB and OCBC.

Ty very much.


Sad So far, no any OCBC agent contact me. I have to walk-in to OCBC bank to ask for detail.

For floating package, I think this is the one can compare with UOB

Year 1~3, BLR - 0.98% (with MRTA is BLR-1%)
thereafter, BLR-1.15%

Because starting from yr4, BLR-1.15%, while UOB start at yr6.


And for Fixed + Floating package, this is good also:

Year 1 = 5.75%
Year 2~5 = 5.85%
thereafter BLR - 0.5%


But prepayment option of OCBC is not so flexible. And only allowed 80% for non-landed.
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jeff_yeosh



Joined: 17 Aug 2004
Posts: 28
Location: malaysia

PostPosted: Fri Sep 22, 2006 6:51 pm    Post subject: hi ,i am jeff here Reply with quote

As you know we cannot PM here...do u mind to send ur contact number to me at jeff_yeosh@yahoo.com.
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NewKENZO



Joined: 01 Jun 2006
Posts: 198
Location: Subang

PostPosted: Fri Sep 22, 2006 6:58 pm    Post subject: Reply with quote

errrr ....




u got email address?
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Kenzo
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Martian



Joined: 31 Mar 2006
Posts: 1402

PostPosted: Sat Sep 23, 2006 12:20 am    Post subject: Reply with quote

hi kenlee. i didnt know OCBC charging 5.75% for 1st yr. can u confirm? as far as i know, 1st-5th yr is same at 5.85%. i also applied OCBC. why u say prepayment not so flexible? u can prepay any amount u want as long as u take no less than 5 yrs to settle the loan. eg if ur monthly instalment is RM1k a month, when the loan first starts, u can prepay but must leave a balance of 60k (5yrs x 12mths x RM1k), in 4th yr, the minimum balance remaining is 48k and so on, so forth. even if u prepay, the monthly instalment will continue to be made for 5 yrs. if less than that, consider early settlement and will incur penalty.

u can withdraw any prepayments by writing-in and depending on which branch, will take 3 working days.
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v2_vehooi



Joined: 23 Jul 2006
Posts: 145

PostPosted: Sat Sep 23, 2006 3:36 pm    Post subject: Reply with quote

KenLee wrote:
NewKENZO wrote:
after u meet an OCBC agent, would you pls tell what is their flexibility? I want to see whose features are better between UOB and OCBC.

Ty very much.


Sad So far, no any OCBC agent contact me. I have to walk-in to OCBC bank to ask for detail.

For floating package, I think this is the one can compare with UOB

Year 1~3, BLR - 0.98% (with MRTA is BLR-1%)
thereafter, BLR-1.15%

Because starting from yr4, BLR-1.15%, while UOB start at yr6.


And for Fixed + Floating package, this is good also:

Year 1 = 5.75%
Year 2~5 = 5.85%
thereafter BLR - 0.5%


But prepayment option of OCBC is not so flexible. And only allowed 80% for non-landed.


btw, those the pakage from ocbc and uob one is non zero cost or zero cost??? Is for complete house or under con or commercial ???
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KenLee



Joined: 03 Sep 2006
Posts: 53
Location: KL

PostPosted: Mon Sep 25, 2006 1:28 am    Post subject: Re: hi ,i am jeff here Reply with quote

jeff_yeosh wrote:
As you know we cannot PM here...do u mind to send ur contact number to me at jeff_yeosh@yahoo.com.


Hello Jeff,
I just found that PM in this forum was disabled, but I still blur and ask for PM :p



Martian wrote:

hi kenlee. i didnt know OCBC charging 5.75% for 1st yr. can u confirm? as far as i know, 1st-5th yr is same at 5.85%. i also applied OCBC. why u say prepayment not so flexible? u can prepay any amount u want as long as u take no less than 5 yrs to settle the loan. eg if ur monthly instalment is RM1k a month, when the loan first starts, u can prepay but must leave a balance of 60k (5yrs x 12mths x RM1k), in 4th yr, the minimum balance remaining is 48k and so on, so forth. even if u prepay, the monthly instalment will continue to be made for 5 yrs. if less than that, consider early settlement and will incur penalty.

u can withdraw any prepayments by writing-in and depending on which branch, will take 3 working days.



Maybe the information I get was outdated. I found those rate in this website:
.://..fiscal-wise.com.my/

The reason I said not so flexible is because, the extra amount I pay in monthly installment will consider as a advance payment, but not use for reduce principal. An UOB agent told me that, UOB will use that amount to reduce principal (update me, if the info was wrong Smile ). If I want to reduce the principal, I must pay for 1000 x N (e.g. 1k, 2k,5k, ..etc).

You applied for OCBC? How many percent you apply for your loan, I had walked in and ask OCBC, they said max 80% for non-landed Sad


v2_vehooi wrote:
btw, those the pakage from ocbc and uob one is non zero cost or zero cost??? Is for complete house or under con or commercial ???


So far I am comparing non-zero cost package for apartment under con. Do you have any good idea want to share with me? Smile
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Martian



Joined: 31 Mar 2006
Posts: 1402

PostPosted: Mon Sep 25, 2006 2:16 am    Post subject: Reply with quote

Hi Kenlee. made a boo-boo.... i assumed urs is completed prop.... Embarassed

the MOF stated by OCBC is 90% but dun know why, their officers say is 80%. i also tried to apply for 90% but so far, the indication is pointing towards 80% only. seems like they 'scared' to finance non-landed props...... or maybe my prop is not so 'hot' so they dun have confidence....... Wink
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felicia



Joined: 18 Dec 2005
Posts: 9
Location: Kuala Lumpur

PostPosted: Thu Sep 28, 2006 5:41 pm    Post subject: OCBC Agents... contact me plz Reply with quote

I would like to take a housing loan... Interested on OCBC 5 years Fixed Rate package. OCBC agents.. contact me asap please...
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Martian



Joined: 31 Mar 2006
Posts: 1402

PostPosted: Thu Sep 28, 2006 8:25 pm    Post subject: Reply with quote

hi felicia, do u stay around PJ damansara area? the OCBC branch in damansara utama provide very good service. i took my loan there. incidentally, the officer's name is felicia also..... Wink
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felicia



Joined: 18 Dec 2005
Posts: 9
Location: Kuala Lumpur

PostPosted: Thu Sep 28, 2006 9:07 pm    Post subject: Reply with quote

Ohh.. really?! I'm not staying around PJ, but I will try to go over there if posible. Is she is a customer service or HL sales person?
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Martian



Joined: 31 Mar 2006
Posts: 1402

PostPosted: Thu Sep 28, 2006 9:30 pm    Post subject: Reply with quote

her official title is Personal Financial Consultant. i was once recommended a OCBC agent but his service was reli reli terrible. didnt answer my calls or return my messages. when finally got hold of him, he would just say he went on emergency leave. in the end oso didnt manage to apply the loan for me.

frustrated, i went direct to the branch. felicia was on duty so she helped me to process my loan. was approved today. bcoz my previous application via the first agent was done halfway, she had to help me clear up their internal records in order for me to submit a fresh application. the first agent didnt even bother to return my or her calls/emails/sms to cancel my first application made thru him. Evil or Very Mad

where do u stay? i think u should choose a branch which is more convenient for you to go to.
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causwell



Joined: 15 Jul 2006
Posts: 179

PostPosted: Thu Sep 28, 2006 10:10 pm    Post subject: Reply with quote

Hi all,

If u all really interested to get OCBC loan, I can recommend one loan officer who deals with my recent housing loan. I'm getting this rate:

1st-3rd BLR -1%
Thereafter BLR - 1.15%

and without MRTA... Smile

Send me a mail if you really interested Twisted Evil : causwell@hotmail.com

I spent sometime to compare the loan package available in the market now and this is one of the good option available now.

Pls be inform that I'm not a housing loan officer, but just try to share some of my infor....
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lucas93



Joined: 02 Oct 2006
Posts: 42

PostPosted: Wed Oct 04, 2006 11:50 pm    Post subject: Reply with quote

Hi causwell,
Mind if I ask what package is it? Zero moving cost? Non flexi?
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causwell



Joined: 15 Jul 2006
Posts: 179

PostPosted: Thu Oct 05, 2006 10:43 pm    Post subject: Reply with quote

lucas93 wrote:
Hi causwell,
Mind if I ask what package is it? Zero moving cost? Non flexi?


Hi Lucas Laughing we meet again here.

This is not a ZEC package (i hope it is) and should fall between non flexi. I'm not very sure on the term use, but this is a term loan and I can only make prepayment for a minimum of 1K. 5 years bond period and 3% penalties or RM5000, which is higher. Default rate is at 1% pa + Prescribed rate.

Please comment on this package.... do u think this is a good package? My property is still under construction at 60%
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lucas93



Joined: 02 Oct 2006
Posts: 42

PostPosted: Sat Oct 07, 2006 8:30 am    Post subject: Reply with quote

Hi again causwell,
I'm not sure its a deal. Have you signed?
If you are only looking only for term loan I think you can get a better deal on rates from local banks. You can't really compare rates of conventional term loan with flexi type. Laughing
How much is your loan amount?
Is the penalty on the loan amount or balance.
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giggs



Joined: 24 Sep 2006
Posts: 32

PostPosted: Sat Oct 07, 2006 11:21 am    Post subject: Reply with quote

i got a loan approved from OCBC too. With the impending hikes in BLR, my package is as follows:

1st 5 years: 5.85%
Thereafter: BLR - 0.5%

I figured after the 1st 5 years, i could do some refinancing...
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lucas93



Joined: 02 Oct 2006
Posts: 42

PostPosted: Sat Oct 07, 2006 12:16 pm    Post subject: Reply with quote

Hi giggs,
If you are expecting refinancing in 5 years why not get an islamic financing from me?
Its 5.5% for 1st 3 years and BLR-0.5% for 4th and 5th. The rates are capped at 8.5%. This means when interest is lower than 8.5% you are only charged BLR-0.5% for 4th and 5th year but when its 10% you are safe at 8.5%.
On top of that if you want to sell off your property before 5 years you will only be penalize 3% of your outstanding amount not your initial loan amount.
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giggs



Joined: 24 Sep 2006
Posts: 32

PostPosted: Sat Oct 07, 2006 7:53 pm    Post subject: Reply with quote

which bank are you with lucas?
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causwell



Joined: 15 Jul 2006
Posts: 179

PostPosted: Sat Oct 07, 2006 10:01 pm    Post subject: Reply with quote

lucas93 wrote:
Hi again causwell,
I'm not sure its a deal. Have you signed?
If you are only looking only for term loan I think you can get a better deal on rates from local banks. You can't really compare rates of conventional term loan with flexi type. Laughing
How much is your loan amount?
Is the penalty on the loan amount or balance.


Received the offer letter but yet to sign the laon agreement...

I checked on most local bank but they can offer blr - 0.8% at daily rest for the best deal ...

I'm getting 215K loan form my condo (UC) at 90% MOF without MRTA

As for the penalty, is writen as 3% of the amount prepaid n outstanding amount redeemed...
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Martian



Joined: 31 Mar 2006
Posts: 1402

PostPosted: Sun Oct 08, 2006 1:12 am    Post subject: Reply with quote

lucas93 wrote:
Hi giggs,
If you are expecting refinancing in 5 years why not get an islamic financing from me?
Its 5.5% for 1st 3 years and BLR-0.5% for 4th and 5th. The rates are capped at 8.5%. This means when interest is lower than 8.5% you are only charged BLR-0.5% for 4th and 5th year but when its 10% you are safe at 8.5%.
On top of that if you want to sell off your property before 5 years you will only be penalize 3% of your outstanding amount not your initial loan amount.


lucas93, OCBC can prepay and withdraw. prepayment can only be made up to a max amount where the balance unpaid is equivalent to 60 monthly instalments. can ur islamic prepay and withdraw without incurring charges and penalties? thanks.
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lucas93



Joined: 02 Oct 2006
Posts: 42

PostPosted: Sun Oct 08, 2006 11:15 pm    Post subject: Reply with quote

Hello Martian,
The islamic package is not a flexi loan as we already have M1 for that purpose so you can't withdraw any prepayment. As for the 60 months actually when you prepay a big sum within 5 years and the balance principle amount is less than the total installment projected for the period between then and minimum holding period. You will be notified of a early settlement penalty if you wish to proceed.

So if you prepay after the first year its actually calculated based on 4x12 months installment.
Yes this applies to all packages with 5 years holding period.

However if the penalty is calculated base on outstanding amount you can minimize that penalty tremendously. This is best if your property is meant for investment.
Eg: Loan size : RM200,000
Prepayment on 36months : RM xxx,xxx
Balance priciple : 70,000
Penalty base on loan amount: 200,000 x 3% = RM6000
Penalty base on outstanding amount : 60,000 x3% = RM1800

May I know what is OCBC charging for withdrawal fees? Or is it a flexi loan? How long is the processing time?

Hi giggs,
I'm a mortgage exec for Standard Chartered
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lucas93



Joined: 02 Oct 2006
Posts: 42

PostPosted: Sun Oct 08, 2006 11:30 pm    Post subject: Reply with quote

causwell wrote:
lucas93 wrote:
Hi again causwell,
I'm not sure its a deal. Have you signed?
If you are only looking only for term loan I think you can get a better deal on rates from local banks. You can't really compare rates of conventional term loan with flexi type. Laughing
How much is your loan amount?
Is the penalty on the loan amount or balance.


Received the offer letter but yet to sign the laon agreement...

I checked on most local bank but they can offer blr - 0.8% at daily rest for the best deal ...

I'm getting 215K loan form my condo (UC) at 90% MOF without MRTA

As for the penalty, is writen as 3% of the amount prepaid n outstanding amount redeemed...


If thats the case and you don't see that a flexible loan could benefit you, then the rates are good. I normally never recommend Maybank personally because of their service but I recall an interest rates of BLR-1.2 or 1.3%. It may be for completed units though.
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causwell



Joined: 15 Jul 2006
Posts: 179

PostPosted: Mon Oct 09, 2006 12:25 am    Post subject: Reply with quote

Martian wrote:
lucas93 wrote:
Hi giggs,
If you are expecting refinancing in 5 years why not get an islamic financing from me?
Its 5.5% for 1st 3 years and BLR-0.5% for 4th and 5th. The rates are capped at 8.5%. This means when interest is lower than 8.5% you are only charged BLR-0.5% for 4th and 5th year but when its 10% you are safe at 8.5%.
On top of that if you want to sell off your property before 5 years you will only be penalize 3% of your outstanding amount not your initial loan amount.


lucas93, OCBC can prepay and withdraw. prepayment can only be made up to a max amount where the balance unpaid is equivalent to 60 monthly instalments. can ur islamic prepay and withdraw without incurring charges and penalties? thanks.


Hi Martin,

R u taling OCBC loan as well? What package are you taking? What do you think about the offer....
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