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Battle of Bank Loans and Finance from Insurance Companies

 
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kll



Joined: 17 Feb 2006
Posts: 49

PostPosted: Mon Feb 27, 2006 7:25 pm    Post subject: Battle of Bank Loans and Finance from Insurance Companies Reply with quote

There's been so many discussions on the above topic... nonetheless, no conclusive results.

Fact scenario:-

Loan amount of RM400k-500k.
Tenure : 30 years.
Wants to capitalise on lower interest (or maybe fixed interest) but at the same time wants flexibility.
Wants to be able to prepay to reduce interest and maybe redeem after 5 years.
Wants to avoid the adverse effect once BLR goes up.
Wants to capitalise on the increased FD rates once they goes up.

2 scenarios:
1) take the flexibility that HSBC, StandChart, Citibank, UOB provides... dump in extra cash to reduce interest... problem: what if BLR goes up shortly?

2) take the fixed rate package.... then when BLR goes up, FD will also goes up... put extra monies in FD.... would this be better?

Any thoughts? Smile
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