DIFFERENCE BETWEEN FULL FLEXI LOAN, SEMI-FLEXI LOAN & NON-FLEXI LOAN (IN BRIEF)

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DIFFERENCE BETWEEN FULL FLEXI LOAN, SEMI-FLEXI LOAN & NON-FLEXI LOAN (IN BRIEF)

When come to choosing the right home loan products, many borrowers can easily get confused. Here we have a simple and brief comparison to help you making those decisions.

Full Flexi Loan
1. Borrower may have to set up a current account for a fee, which is linked to the loan account.
2. Borrower allowed to make prepayments or additional payments without informing the bank.
3. Can redraw without informing the bank.
4. RM10 monthly maintenance fee.
5. Account Set Up one time RM200

Semi-flexi Loan
1. Borrower has to set up a savings account.
2. The bank will deduct the instalment amount from the savings account.
3. Borrower has to inform the bank to make prepayments or additional payments.
4. Borrower has to give two to five days notice to bank before redrawing.

Non-flexi loan
1. Borrower has to set up a savings account.
2. Borrower has to inform the bank when making prepayments.
3. Not allowed to redraw without special approval from bank.

For more Home Loan information and enquiry,
please call/ Whatsapp us at +6012-6946746
or visit our website www.malaysiahousingloan.com

 

Source :http://www.theedgeproperty.com.my/content/845753/understanding-home-loans

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