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bbkowner
Joined: 07 Jul 2008
Posts: 3
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 Posted: Mon Jul 07, 2008 12:56 am Post subject: BANK SPECIFIC TERNS AND CONDITIONS |
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Hi all,
i have recently refinance my housing loan, however there are few additional new terms and conditions which i am not sure about. Could anyone please help?
Thank you very much!!!!
p/s: Btw, what is the best rate in the market now?
Specific Terms & Conditions:-
1) In the event the difference between OPR (Overnight Policy Rate) and BLR (Base Lending Rate) declines to below 2% during the loan tenure, the bank reserves the right to increase the prevailling interest rate to BLR + 0.00%
2) The interet rate of BLR + 0.00% is to revert back to the prevailling rate in the event the difference between the OPR and BLR increases to 2% and above.
3) In the event any default in the repayment of the facility/ies, the Bank shall convert any of the prescribed interest rate in this letter of offer to the default rate of BLR + 0.20% |
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