Buying Cash or Taking Loan

Sumber:http://fortunesense.blogspot.com/2008/10/buying-cash-or-taking-loan.html
Imagine if you have cash to buy a property, will you buy it by cash or you will buy it using the banking property loan facility ?

Example: If you have RM 200000 cash on hand and is able to generate 4% return rate yearly, after 20 years you will have RM 438224.66.

If you take a loan with RM 200000 and loan interest rate is
- 7%, after 20 years the total payment is 372143.49,
- 8%, after 20 years the total payment is 401491.23
- 9%, after 20 years the total payment is 431868.46

From the calculation, it seems that it is wiser to put your cash in the investment tool that can generate 4% if your loan interest is 9% and below.

Updated section:

Part of the reader's comment,

If i have RM 200k Cash earning 4% a year, and i have to pay monthly installment of RM 1,550.60 for 20 years for my housing loan (which charges me 7% interest a year), how much will i have afte 20 years?
What if my monthly installment is RM 1672.88 instead (at 8% rate, 20 years) ?

Lastly, what if my monthly installment is RM 1,799.45 instead (at 9% rate, 20 years) ?

The answer for all 3 questions above, is that your money won't even last for 20 years!. Meaning, once your lump sum finishes, you still owe money to the bank!.

Conclusion: You'll be better off paying off the bank if your investment rate is lesser than the interest charged by your loan. Simple as that!.


COMMENTS

U Lian // June 20, 2009 10:00 AM
Is the amt of return of 4% taken into consideration of inflation? What is the actual value of the money after 20 years?

Fortune Sense // June 20, 2009 12:54 PM
The 4 percent return rate does not consider the inflation rate but the total amount of investment after 20 years do consider the compound interest factor.

For both the total amount of investment and the total payment to the bank in this calculation do not take into the inflation factor.

The conclusion is judged by the face value after 20 years.

Do share your opinion on this.

cheongpeng // August 19, 2009 7:22 PM
The calculation is just theoretical. In practical, when purchasing property, u need to pay lawyer fees, stamp duty, maintenance fees, repair fees and others. This is just a rough guide.

For the example, the interest u earn if put in 4% investment is used to pay for bank interest. So...u r still the same. Unless the property increase in value. What happen if u made the wrong decision?

Fortune Sense // August 19, 2009 11:07 PM
Thanks for the input.

The calculation method is based on the assumption that the interest earned is being reinvested back into the investment that can generate the same 4% interest.

If the property value decrease or increase at the end of the loan period, the total payment at the end and the total investment value should be still the same as the amount being calculated.

Welcome to share your opinion on this.

Peter Lim Cheng Teik and Tan Shu-Yin // October 23, 2009 1:28 AM
I disagree with the calculation. When you take a loan, you have to pay monthly installments.

The monthly installments that you paid lost its opportunity to earn interest.

Thus, when you use a comparison of "total" interest you paid over a certain period of time, you're assuming that there's no opportunity cost during this period.

Infact, whether cash or loan is better simply depends on your inveestment return vs the interest charged. If your investment return is 4%, and loan is charging you 9%, then you're better to pay off the loan.

Fortune Sense // October 24, 2009 1:23 AM
Hi Peter and Shu Yin

The calculation does not include the "opportunity cost" investment return rate :P.

It is good if a person is determined and self disciplined to invest consistently the amount as the housing loan installment amount into an investment product that can generate positive return rate for the housing loan period.

Another perspective is that with the cash on hand (example 200K in this case), when the "opportunity" comes the money could be invested into it in order to generate a better return rate.

Hopefully by knowing the risks associated with the strategy that we use and understanding what we are doing, it will minimize the probability of losing and increase the probability of winning in the investment strategy plan.

Welcome to share your opinion on this.

Peter Lim Cheng Teik and Tan Shu-Yin // October 27, 2009 12:19 AM
Let's make a fairer comparison by assuming that the person does not use other "savings" to pay for his monthly installments, since i'm sure nobody is so dumb not to earn interest with their money.

If that person pays cash for his purchase, he won't have a monthly installment. Fullstop!

However, if that person takes 200k loan, he have to pay monthly installment. Although he have RM 200k CASH in hand, how about the installments?.

Let's be fair, in this case, and assume that he withdraws his "lump sum" of RM 200k to pay for his installments monthly.

The loan interest at 7% (yearly) translates to an interest payment of RM 1,167 on the 1st month. However, the interest you earned on your RM 200k at 4%, is only RM 667 on the 1st month!. That translates to a deficit. As time goes by, the deficit will be more.

Of course, you could assume that the person have "money" elsewhere to pay for the monthly installments (thus leaving the RM 200k intact to earn 4% compounding). If that is so, we could also do some funny assumption, like:

Take RM 200k loan, for 1 year, at 100% interest (super Ah Long). With this assumption, the total payment is only RM 323,989.85.

This being the case, does it mean that the above loan is better than 7% for 20 years?.

If it is so, let's get "funnier" again.

This time, we'll take RM 200k loan, for 200 years, at 1% interest per year.

With such loan, the total payment (over 200 years) is RM 462,667.40, which is the more "expensive" than the above 100% interest at 1 year, or even 9% interest at 20 years.

Obviously something is flawed, which is "Time Value of Money".

Yet your calculation never factor in opportunity cost, which will lead this kind of "funny" decision making.

Fortune Sense // October 27, 2009 7:25 PM
Hi Peter and Shu Yin

Thanks for the input.

The calculation does not include the "opportunity cost" investment return rate :P.

The calculation method will be different if take into the consideration of the interest earned when use the monthly installment amount to invest.

Do take into the factors (time value of money, opportunity cost, consistent investment method, positive retun rate, risks and etc) that are relevant to the individual while making the decision in order for him/her to have the most benefit.

Happy Investing.

Peter Lim Cheng Teik and Tan Shu-Yin // October 27, 2009 11:46 PM
I think a better comparison is this:

If i have RM 200k Cash earning 4% a year, and i have to pay monthly installment of RM 1,550.60 for 20 years for my housing loan (which charges me 7% interest a year), how much will i have afte 20 years?

What if my monthly installment is RM 1672.88 instead (at 8% rate, 20 years) ?

Lastly, what if my monthly installment is RM 1,799.45 instead (at 9% rate, 20 years) ?

The answer for all 3 questions above, is that your money won't even last for 20 years!. Meaning, once your lump sum finishes, you still owe money to the bank!.

Conclusion: You'll be better off paying off the bank if your investment rate is lesser than the interest charged by your loan. Simple as that!.

People who knows a bit, try to complicate matters to the public. People who knows a lot, try to simplify the complicate stuff. Housing loan vs investment return is as simple as it can get.

I would appreciate if the matter is not to confuse or misleading people.

I believe many people read your blog, and from your "article", people might get a misleading conclusion.

While i truly advocate taking housing loan instead of paying cash, i'm very clear of the reason (which is OBVIOUSLY my investment return is better than the housing loan rate, by a wide margin!).

Fortune Sense // October 28, 2009 8:38 PM
Thanks for the input. :P

Agreed with investment return rate needs to be higher than the loan rate and keep it simple.

Glad to know that your investment return is better than the housing loan rate and by a wide margin.

Wish you achieved your financial goal as soon as possible. :P

Happy Investing!

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3 Reasons Why You Should Never Co-Sign a Loan For Someone Else

If a family member, friend or spouse wants to take out a loan, you might assume that you’d be doing them a favor by agreeing to have your name on the loan as a co-signer. If you’re a parent whose child asks you to co-sign a loan for them, it can be difficult to refuse. It may be hard to say “no”, but you need to think about your own financial situation, because you could find yourself in a lot of trouble if the primary signer has trouble making the payments. Here are 3 reasons why agreeing to co-sign a loan is a bad idea.

1. It becomes your responsibility if repayments are’t kept up. When you co-sign a loan, you’re agreeing to pay the loan on primary signer’s behalf if they fall behind on payments. Having a co-signer wouldn’t be necessary in the first place if the primary signer was capable of getting a loan by themselves and this alone makes it likely that you’ll be the one who pays off the loan in the long term. Don’t be surprised if creditors come after you if they can’t get the payment from the primary signer, especially if your track record with credit is much better. If the debt goes to collection, you’ll be the target for repayments. They don’t care who comes up with the payments just as long as someone does. If you don’t want to be stuck paying for their debt, don’t even consider becoming a co-signer.
2. Your credit rating is affected. Even though it’s not your debt, missed or late payments are included on your credit report as though you’d missed them yourself. If the primary signer defaults on the loan, it could do untold damage to your credit rating.
3. It can stop you from getting future credit. You may not be the person who actually applied for the loan, but becoming a co-signer means that it is taken into account when you try to get credit of your own. This impacts how much you can borrow, which can vary significantly if you want to be approved for a mortgage further down the line.
It’s tempting to agree to co-sign for a loan if someone close to you is doing the asking, but before you jump in, think about the damage it could do to your finances. Remember that as a co-signer, you’d be agreeing to take on the full loan if the primary signer finds that it’s more than they can handle. This could happen out of the blue with little or no prior warning and it would then become your debt. Even if the primary signer is responsible with credit and money in general, financial troubles can suddenly occur due to things like unemployment and medical expenses and as a co-signer, you would have to be prepared to deal with the aftermath.
Even if the primary signer never actually passes the loan onto you, the very fact that you’ve co-signed can mean that you’re refused credit for yourself. Co-signing a loan is incredibly risky and it’s not something that we advocate at Money Crashers because of the potential to end up in big debt that you’ve not personally racked up and the emotional distress it can cause between you and your friend or family member.
What are your thoughts on co-signing a loan for someone else?

Sumber:http://www.moneycrashers.com/never-co-sign-loan-for-someone-else/

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My home loan is blowing my finances! Help!!

Whether you REALIZE this or not, MHL is still going to make this solid statement. Don’t worry if you don’t know, or you’re just a newcomer. We’ll help you sort things out. Seriously, it’s time to face the ultimate groundbreaking, heart-stopping, mind boggling, head smacking TRUTH. This statement do not apply to ALL the home loans out there, but to the common ones, this is it.

For your outstanding balance vs year chart of your home loan, you’re may be bounded to pay interest of more than 100% of your loan capital.

Meaning to say, if your home loan is RM100, you’re may just be paying more than RM100 of interest. Total sum = RM200++. And if this is going to knock you down and demotivate you, please, do not commit suicide. There are other ways of going around this problem.

Several of our favorite responses include:

1. “Don’t try to sell me la, brother.”
2. “What!?”
3. “This statement does not apply to OUR bank’s home loan. Let’s take a look at Bank X’s catalog…”
4. *Turns green, went green, and never saw his face again*

MHL does NOT make money by lying to her consumers. Honestly, we’re just making you realize of monetary facts and showing you opportunities around the problem that many people face.

Refinancing could be just the right option for you, we might say. Let’s take a simple calculation to further strengthen our stand:

After an outstanding loan of 5 years, you still have: RM230,963.00

1. Before Refinancing
1. Interest Rate: 300 months, BLR + 0.25% = 7%
2. Single installment payout: RM 1,662.44
3. Total interest paid: RM233,412.35
2. After Refinancing
1. Interest Rate
1. First 36 months, 5.25%
2. Thereafter: 5.15%
2. Single installment paid: RM1,370.45
3. Total interest paid: RM178,830.68
4. You save: RM54,581

Wah liao eh. Serious or not?

Refinancing may not be the best option for some people, due to the fact that:

1. They have a spending problem.
They spend way too much; disallowing them from making necessary payments at the beginning of each month.
2. They may just extend their loan tenure.
If you paid your home loan for 25 years already, what are you refinancing for? Do you want to add that small amount to another 20 years of your life? Forget it.
3. They borrowed more than 90% of the home’s value.
If their home loan is below 80%, it makes sense. Otherwise, forget it.
4. Cashing out of their refinance.
Honestly, cashing out is their thing, because they see money. They may just end up paying longer.

Does it make sense at all for you?
(You only have to pay your phone bill lah..)

Sumber:http://www.malaysiahomeloan.com.my/category/home-loans/

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Hati-hati dengan Personal Loan

Bila sebut personal loan atau pembiayaan peribadi ni, semuanya dibuat
ikut kadar tetap. Jarang saya lihat, bank beri personal loan dan
kadarnya berubah ubah macam housing loan.

Yang anda perlu faham adalah, untuk membezakan mana loankadar sebenar (effective rate atau APR
rate) yang
termurah, anda perlu semak , bukan kadar tetap atau kadar BLR.

Sebab saya dapati, banyak bank / promoter bank bila promote personal
loan ni, tak dedahkan kadar efektif sebenar loan mereka, terutama
sekali skim pembiayaan islamik (sebab jarang jumpa ada personal loan
konvensional). Mereka promosi dengan menggunakan kadar tetap nominal,
iaitu kadar tetap pada nama sahaja, bukan kadar sebenar. Pelanggan
ingat murah, tapi kadar sebenar hampir 2x ganda.

Sebagai contoh, Loan Al-Rajhi ambil loan RM11,000 untuk 5 tahun pada
kadar tetap 8% setahun (promosi raya lepas 8%, normal rate 8.5%
setahun), kadar sebenarnya adalah lebih 14% setahun (kalau iklan 8%)
atau 14.92% setahun (kalau iklan 8.5% setahun). Ambil Loan RM11,000
untuk 5 tahun pada kadar 8% setahun, ansuran bulanannya adalah RM256
sebulan.

Kalau ambil housing loan, BLR naik sampai 14% setahun tentu anda
mengamuk dan rasa tertekan. Tapi personal loan kena 14%-15%, hampir
tinggi macam interest kad kredit, kita buat tak kisah pula sebab
sangka ianya rendah 8% setahun.

Kalau anda tak percaya, cuba guna calculator housing loan biasa, letak
jumlah loan RM11,000 untuk 5 tahun pada kadar 14% setahun, dan anda
akan dapat ANSURAN BULANAN YANG SAMA, IAITU RM256 SEBULAN. Kebetulan?
TIDAK? Inilah yang ramai orang TAK TAHU.

Oleh itu, sebelum ambil personal loan, fikir masak-masak berbaloi ke
ambil personal loan. Kalau untuk keperluan mendesak, untuk modal
perniagaan yang terjamin pulangannya lebih 15% setahun atau untuk
memindahkan hutang kad kredit yang interestnya tinggi kepada personal
loan, tak mengapalah jugak.

Kalau saja-saja ambil personal loan untuk memenuhi selera dan
keinginan sendiri, pada saya itu mencari masalah namanya, kerana anda
tak uruskan ALIRAN TUNAI (monthly cash-flow) dengan baik, sehingga
terpaksa berbelanja dengan berhutang melebihi pendapatan bulanan.

Berikut adalah kadar profit sebenar untuk semua bank popular di
Malaysia. Ini sekadar perbandingan ringkas, bertujuan untuk rujukan
umum. Bukan untuk memburuk burukkan mana mana bank.

Kadar Personal Financing Antara Bank
* Nota = Kadar sebenar APR di bawah tidak mengambil kira processing
fees yang berlainan antara bank.

1. Bank Rakyat Aslah Financing-i (Post Dated Cheques – Swasta)

Tempoh Pembiayaan (Tahun)
Bank Rakyat’s Membership 2 – 3 4 – 5 6 – 7
Member 6.80% 6.85% 6.90%
Non-Member 6.85% 6.90% 7.00%

* Kadar Sebenar (APR) Bank Islam Personal Financing = 12.25% setahun
untuk 5 tahun

2. Bank Rakyat Aslah Financing-i (Untuk Kakitangan Awam/Berkanun)
dengan kemudahan Biro Angkasa – BPA / Salary Deduction From Employer)

Tempoh Pembiayaan (Tahun)
Bank Rakyat’s Membership < 3 4 – 5 6 – 7 8 – 10
Member 5.60% 5.80% 5.85% 5.90%
Non-Member 5.65% 5.85% 5.90% 5.95%

* Kadar Sebenar (APR) Bank Islam Personal Financing = 10.50% setahun
untuk 5 tahun
————————————————————————-
Bank Islam Personal Financing
Profit Margin
Personal financing – Fixed Nominal Rate
1 – 5 tahun
6.8% setahun 6 – 7 tahun 7.0% setahun
* Kadar Sebenar (APR) Bank Islam Personal Financing = 12.15% setahun
untuk 5 tahun

————————————————————————-
RHB Personal Financing

Profit Margin
Personal financing – Reducing Balance Method
1 – 7 tahun 1% sebulan

* Kadar Sebenar (APR) RHB Personal Financing = 12.10% setahun untuk 5 tahun

————————————————————————-
Standard Chartered Saadiq Personal Financing

Profit Margin
Personal financing – Fixed Nominal Rate 1 – 5 years 0.71% per month

* Kadar Sebenar (APR) SCB Saadiq Personal Financing = 14.10% setahun
untuk 5 tahun

————————————————————————-
Al-Rajhi Personal Financing

Profit Margin
Personal financing – Fixed Nominal Rate 2 – 5 tahun
Kadar biasa
8.50 % setahun

* Kadar Sebenar (APR) Al-Rajhi Personal Financing = 14.92% setahun
untuk 5 tahun

Al-Rajhi Personal Financing

Profit Margin
Personal financing – Fixed Nominal Rate 2 – 5 tahun
Kadar promosi
8.00 % setahun

* Kadar Sebenar (APR) Al-Rajhi Personal Financing = 14.00% setahun
untuk 5 tahun

Diharap maklumat ini dapat membantu anda dalam membuat keputusan.

“BERKHIDMAT UNTUK MASYARAKAT”

AZHA SYAZRI HJ AZIZAN (H/P: 012-2011-555)
Manager – Insurance, Takaful & Investment (AFPM)
Tekad Smart Planning Sdn. Bhd. (538317-K)
A corporate agency with MAA Assurance & MAA Takaful
For reliable & trusted advice, visit us at http://www.simpanduit.com

Sumber:www.simpanduit.com

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Pinjaman Bank Untuk Mereka Yang Bekerja Sendiri

Sumber:email from: Mohd Suhaimy | milionaire in the making. (shuth@mohdsuhaimy.com)
Pinjaman Bank Untuk Mereka Yang Bekerja Sendiri!

Mungkin ini menjadi salah satu tanda tanya kepada mereka yang bekerja sendiri. Maklumlah, berkeja sendiri nie.. manalah ada slip gaji untuk dijadikan bukti pendapatan?

Saya pun pernah menghadapi delima ini, nak beli kereta, nak beli rumah… takkan nak beli cash kot? Rugi rasanya, baik gunakan duit tu untuk benda lain yang lebih bermanfaat seperti mengembangkan perniagan ke? buat pelaburan-pelaburan yang sah dan menguntungkan ke? Itu lebih baik rasanya..

Jadi, bagaimana yer?

Bila baca kat website bank. Mereka kata, mereka perlukan slip penyata gaji! Kalau bagi individu yang bekerja sendiri, perlu kemukakan penyata akaun bank selama 3 @ 6 bulan sebagai bukti pendapatan!

Nasib baiklah saya ada membuat pendaftaran syarikat & juga membuka akaun khas untuk syarikat. (So, bagi anda yang menjalankan SOHO tetapi belum daftar syarikat & belum buka akaun syarikat tu, better anda lakukan segara, nanti kalau nak beli rumah ke kereta ke, senang lah sikit.. :) )

Satu persoalan yang timbul di fikiran saya, apakah yang pihak bank “pandang” pada penyata akaun bank tersebut? ? Apakah yang menjadi ukuran? Adakah dari jumlah wang yang terkumpul? Adakah dari baki semasa? Adakah dari jumlah wang masuk? Adakah dari bilangan transaksi? atau dari status perkahwinan pemiliknya? … Oh!

Jadi, untuk mendapatkan jawapan kepada semua persoalan serta memuaskan hati…. maka, saya telah pergi ke bank dan berjumpa terus dengan pegawai di bahagian pinjaman mereka… hasil dari perjumpaan tersebut, barulah saya mendapat gambaran yang sebenar. Sementara gambaran tersebut masih jelas~~ maka saya ingin kongsikan info tersebut kepada semua pembaca blog ini..

Jadi.. bersedia…..

Jika anda ingin tahu, adakah anda layak atau tidak untuk membuat pinjaman, sama ada untuk membeli rumah atau kereta, dan berapakah jumlah wang yang layak anda pinjam? Penyata akaun bank bagi perniagaan anda memainkan peranan penting..

Apa yang perlu anda lakukan, dapatkan 6 bulan atau 3 bulan penyata bank anda….

Lihat pada jumlah kredit (wang masuk) pada setiap bulan.. abaikan baki semasa dan juga jumlah wang keluar.
Contohnya.

Bulan 1 : RM30,000 jumlah wang masuk
Bulan 2 : RM25,000 jumlah wang masuk
Bulan 3 : RM35,000 jumlah wang masuk

Jadi, purata pendapatan anda ialah : (RM30,000 + RM25,000 + RM35,000) / 3 bulan = RM30,000
(kalau 6 bulan penyata bank, maka bagi 6 lah yer!)

Setelah dapat purata pendapatan, darab pula dengan 20% . Contoh..
RM30,000 X 20% = RM6,000

Jadi, itulah gaji bulanan anda!
Ya.. itulah anggapan bank tentang wang gaji anda sebagai seorang yang bekerja sendiri.. RM6,000 sebulan

Dari Rm6,000 itu pula, bank akan mengangap, hanya 60% sahaja yang boleh digunakan oleh anda untuk membayar segala hutang-piutang dalam hidup anda. Tak kiralah hutang rumah ke? hutang kereta ke? ataupun hutang kredit kad?

Jadi, 60% dari RM6,000 , ialah = RM3600.

Ini bermaksud, jika anda tidak mempunyai sebarang hutang lagi, maka anda layak untuk membuat pinjaman, dimana, bayaran bulanan bagi pinjaman tersebut ialah RM3600. (Iaitu pinjaman sekitar RM700,000 bagi pinjaman rumah)

Tetapi, jika anda sudah sedia ada hutang rumah, kereta, kad kredit, personal loan seperti contoh di bawah..

Bayaran bulanan bagi hutang..
1. Kereta = RM1,000
2. Rumah = RM1,000
3. Kad Kredit = RM600
4. Personal Laon = RM500
———————————–
Total : RM3,100
———————————-

Maka, untuk membuat hutang baru, pihak bank perlu pastikan, bayaran bulanan bagi pinjaman yang anda ingin mohon itu, mestilah tidak melebihi RM500 ( RM3,600 (60% dari pendapatan) – RM3,100(jumlah bayaran bulanan hutang sedia ada) ).

Kalau pinjaman rumah, boleh beli rumah yang berharga sekitar RM100,000.

Itulah serba sedikit info berkenaan “kelayakan pinjaman bank bagi individu yang bekerja sendiri”… kalau anda ada info tambahan lain, atau jika ingin membetulkan info saya ini (manalah tahu kalau salah ke), harap sudi-sudikanlah untuk berkongsi di ruangan komen blog ini, terutama sekali bagi mereka yang bekerja di bank.. :)

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Term Loan vs Flexi Loan for Property Financing

Sumber:http://1-million-dollar.blogspot.com/2009/12/term-loan-vs-flexi-loan-for-property.html
Currently, in the market there are two most widely known Property Financing. There are Term Loan and Flexi Loan. But for many of people, they have no idea what are the different between them & which one to choose when buying a property. Actually, in addition to Term Loan and Flexi Loan, there is a hybrid product called Semi-flexi Term Loan. This will make the confusion even worse.

In terms of interest calculation between Term Loan, Flexi Loan or semi-flexi Term Loan, actually no different between them. All of them use the same principal where interest is calculated base on principal balance. Nowdays, most of the Property Financing or Mortgage loan are based on "daily rest" calculations. In simple word interest is calculated daily based on the outstanding balance.

Also, monthly installment for Term Loan, Flexi Loan and Semi-flexi Term Loan are fixed unless there is change in BLR or BFR.

The main different between Term Loan, Flexi Loan and Semi-flexi Term Loan are,

Term Loan

* Bank allow you to make extra payment to reduce principals but sometimes you have to inform them prior to that. Depending on the Letter Offer, sometimes Term Loan does not allow for extra payment.
* Bank doesn't allow you to withdraw the additional amount you paid earlier in case you need to use it in the future.


Flexi Loan

* Bank will provide you with additional Current Account that link with the Loan Account. Bank allow you to make extra payment to reduce principals by depositing either through Loan Account or Current Account. At the end of the day, both account will be synchronized. You do not need to inform the bank regrading extra payment.
* Bank allow you to withdraw the additional deposit at any time by withdrawing via ATM or writing a cheque. You do not need to inform the bank.
* Bank will impose monthly charge of around RM10 but some banks may give a waiver for this.


Semi-flexi Term Loan

* Bank allow you to make extra payment to reduce principals but sometimes you have to inform them prior to that.
* Bank allow you to withdraw the additional amount you paid earlier but bank will charge you processing fee for each withdrawal. The fee is between RM10 to RM50 depending on banks. Some banks also place a limit on the number of withdrawal per year.

In conclusion, I definitely prefer Flexi Loan. It gives me flexibility to manage my money. Imagine that, if you combine all of your saving, FD & even salary to your flexi account, immediately you will save on the daily interest. And, if you need to use that money, you can withdraw it anytime as you wish. No limit what so ever. At the end of the day, you will save the interest and reduce your principal at a faster pace and finally shorten the loan tenure.

I am currently having a Mortgage loan from CIMB. I choose Flexi Home Financing-i. It is much better than conventional Flexi Loan as there is no monthly charge of RM10.

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Property Purchase Estimated Costs

Sumber:fortunesense.blogspot.com/2009/09/property-purchase-estimated-costs.html
Do you know how much do you need to pay when you purchase a property besides from the normal 10% down payment of the property price?

The cost that needs to be made into consideration consists of

1) Sales and Purchase Agreement charges
2) Bank Loan Agreement charges
3) Memorandum of Transfer charges

Below is the example of the above charges for purchasing a property worth RM 600, 000 and apply for a RM540, 000 loans without the Mortgage Reducing Term Assurance (MRTA).


1) Sales & Purchase Agreement (S&P) calculation
Rate(%) Property Price Total Payment
First 150,000 1.00 150,000.00 1,500.00
Next 850,000 0.70 450,000.00 3,150.00
Next 2,000,000 0.60 0.00
Next 2,000,000 0.50 0.00
Next 2,500,000 0.40 0.00
Exceed 7,500,000 0.30 0.00

Property Price 600,000.00
Legal Fee 4,650.00
5% Service Tax 232.5
Estimated Disbursement Fees 1,000.00
(1)
Total S&P Amount 5,882.50




2) Loan Facility Agreement & Execution of Loan Document Calculation
Rate(%) Mortgage Amount Total Payment
First 150,000 1.00 150,000.00 1,500.00
Next 850,000 0.70 390,000.00 2,730.00
Next 2,000,000 0.60 0.00
Next 2,000,000 0.50 0.00
Next 2,500,000 0.40 0.00
Exceed 7,500,000 0.30 0.00

Loan Amount 540,000.00
Legal Fee 4,230.00
5% Service Tax 211.5
Estimated Disbursement Fees 1000




Rate(%) Mortgage Amount Total Payment
Total loan facility amount 0.50 540,000.00 2,700.00
Stamp Duty 2,700.00
(2)
Total Bank Loan Agreement Amount 8,141.50




Memorandum of Transfer (MOT)
Rate(%) Property Price Total Payment
First 100,000 1.00 100,000.00 1,000.00
Next 400,000 2.00 400,000.00 8,000.00
Exceed 500,000 3.00 100,000.00 3,000.00

Property Price 600,000.00
Stamp Duty 12,000.00
(3)
Total MOT Amount 12,000.00








Total (1) + (2) + (3) 26,024.00
10% Downpayment 60,000.00
MRTA 0


Grand Total 86,024.00

Hence, besides from the 10% percent down payment of the property price, do not neglect the legal fees, bank loan related fees and the Memorandum of Transfer fees.


Do have a check whether the above calculation is correct and do points out any miss out items.

Read more...

Perlukah meminjam untuk melabur?

Sumber:www.bicarajutawan.com/forum/showthread.php?t=9099&page=2
1) perlu ke meminjam utk melabur?

Tak semestinya...tengok keadaan...klu dividen investment tinggi dr interest loan. Yg tu berbaloi. Contoh...interest PL 6.8%, dividen KPF 12%...profit margin > 5%

Tapi klu interest PL 6.8%, dividen investment 9% saja...profit margin/dividen seciput jer (< 5%0, maybe not recommended. Untung kecik sgt...tak masuk klu BLR naik dan dividen investment turun.

Apa2pun, refer to No.3 kat bawah...

2) secara logiknya, adakah bank buat nie untuk kayakan pelabur dan miskinkan bank

Selalunya Bank akan make sure dia untung dulu...
Klu tak, dia akan jadi Bankrupt...hehehehe



3) kenali kemampuan diri

Klu commitment tinggi/tak mampu, jgn susahkan diri nak amik PL...kang jadi beban bertahun2...masuk AKPK atau generate banyak masalah lain...

Yang penting, pelan2 kayuh, pastikan ada plan kewangan yg betul dan jgn berhutang klu tak mampu and/or menguntungkan...

My 2 cents...
Last edited by achem; 11-22-2008 at 06:03 AM.

Read more...

FlexiHome Loan Financing

Sumber:www.bicarajutawan.com/forum/showthread.php?p=320431#post320431
FlexiHome Loan Financing
Home Financing

Being the world's largest financial institution means that you indirectly have access to global expertise and experience second to none. Through continuous research, we have gathered valuable consumer insights, enabling us to constantly improve the way you bank. New housing loan that gives you the flexibility you need to save more on interest payments and pay off your loan faster.

Flexibility means you're allowed to bank in more than your monthly installment into your housing loan account to reduce interest payments. The extra payments can be in any amount. And these payments can be made anytime and as often as you wish. You dont even have to inform us. Any extra money you bank in can help to reduce interest payments, thereby saving you more money. And there's no penalty or fees charged.

Our interest rate is calculated on a daily basis. As soon as you make an extra payment, your housing loan interest payment will be reduced. This is another feature that will help you save more money.

If your home is under construction, you have the option of starting your principal repayments immediately not merely servicing progressive interest. This means that your overall financial obligation is reduced more quickly- saving you money on interest payments in the long run.

You may withdraw funds from your EPF account and bank into your housing loan. This will lower the amount of your outstanding loan, and save you money on interest payments.

We beleive that the most important person in the whole process is you, the customer. With complete documentation, it only takes 3 working days for your application to be approved.

Making payment is extra convenient with MEPS Interbank GIRO bacause you can pay at any participating local bank nationwide. you also have the choice of mailing your cheque payment, making a deposit at our cash or cheque deposit machine or drive-thru cheque drop-box and through online banking.

No monthly maintenance fee, No commitment fee, Zero and Non Zero Financing.

If you have any questions please do not hesitate to contact me for more information.

Regards,
Kamarul Arifin

Read more...

Checklist before refinance

My loan with Maybank is rm198,000 for 30yrs (7.5%) SNP-19 May 2003
The current market price is rm250,000(from my own estimation,but may be more..I`m not very sure about this)
I think the current balance is around rm185,000
I just want to refinance the balance rm185,000 cause I want to shorten the tenure from 24years to 10years.
My current budget is the payment should be less then 2000/per month
I would like to clarify few things:


House Refinance
1.Islamic VS Conventional- I prefer Islamic flexi Loan
2.Reducing balance VS Flat rate--I prefer Reducing balance
4.Daily Rest VS Monthly Rest--I Prefer daily rest (cause I want to pay biweekly)
5.MRTA vs MLTA--What is the cost?
6.Non Zero Entry Cost VS Zero Entry Cost----so this loan is NZEC or ZEC ?
7. lock in period---how many years?
9.the legal and valuation fees? is it free? or bank will absorb legal fee & valuation fees up to 1.5% of loan amount

REPLY:
1.If you looking for flexi islamic loan, Alliance Bank might provide you attrative rate:
198000 loan, margin below 80% of current market price:
Non-zero/ Fec: BLR-2.15% whole tenure
Your monthly installment will be RM1949.
(Zero cost applicable to minimum loan 200k only)

The reason i proposed Alliance Bank:
- Islamic loan, capping ceiling rate at 9.99%
- Fully flexi, no setup fee, no monthly maintainance fee
- Provide cheque book and atm card, able to make prepayment and redrawal anytime.
- 0.05% dividen for extra money you dump in current account as prepayment to the loan. (You pay, you earn as well)


2.Eon Bank

First 6 years: BFR-1.6%, instalment 1868.64
thereafter BFR-2.2%, instalment 1846.50
so this lawyer fee and valuation fees r inlcluded in this quotation?
bank will absorb legal fee & valuation fees up to 1.5% of loan amount



I would like to clarify few things

House Refinance
1.Islamic VS Conventional- I prefer Islamic yeah it's islamic BBA


2.Reducing balance VS Flat rate--I prefer Reducing balance reducing
4.Daily Rest VS Monthly Rest--I Prefer daily rest (cause I want to pay biweekly) daily rest

5.MRTA vs MLTA--What is the cost? For Islamic BBA is Takaful (optional)
6.Non Zero Entry Cost VS Zero Entry Cost----so this loan is NZEC or ZEC


7. lock in period---how many years? 6 years
9.the lawyer fee? is it free? bank will absorb legal fee & valuation fees up to 1.5% of loan amount

Read more...

Panduan Pinjaman Perumahan Kakitangan Kerajaan

Sumber:ibymaz.blogspot.com
Panduan Pinjaman Perumahan Kakitangan Kerajaan (Bahagian 1)
Permohonan
1. Syarat-Syarat Asas
Kakitangan Kerajaan berjawatan tetap.
Warganegara Malaysia
Borang permohonan dikemukakan 6 bulan sebelum bersara/tamat perkhidmatan.
Berkhidmat sekurang-kurang 1 tahun.
Telah disahkan dalam jawatan
Bukan seorang bangkrap @ siberhutang hukuman @ pemakan gaji tidak berkemampuan @ sedang dalam tindakan tatatertib.

2. Syarat-Syarat Pinjaman/Pembiayaan Bagi Pembelian Harta Kedua

SYARAT-SYARAT KELAYAKAN PINJAMAN PERUMAHAN PERBENDAHARAAN BAGI PEMBELIAN HARTA KEDUA.
Melalui Surat Pekeliling Perbendaharaan Bil. 10 Tahun 2005 yang berkuat kuasa mulai 1 Januari, 2006, semua Anggota Kerajaan yang telah selesai hutang pinjaman pertama adalah dibenarkan membuat permohonan pinjaman perumahan untuk membeli harta kedua bagi semua jenis Pinjaman Perumahan Perbendaharaan (Jenis I, II, III, IV dan V ) tertakluk kepada syarat-syarat seperti berikut :-
(i) Kelayakan pinjaman harta kedua adalah seperti berikut:-

(a) Pegawai bertaraf jawatan tetap dan berpencen.

Jumlah pinjaman atas baki kelayakan semasa iaitu amaun perbezaan di antara kelayakan semasa dengan pinjaman pertama dan tertakluk kepada ansuran bayaran balik bulanan tidak melebihi 50% dari anggaran pencen yang akan diterima.

Bagi menentukan kelayakan pinjaman berdasarkan ansuran bayaran balik tidak melebihi 50% dari pencen, kaedah pengiraan pencen adalah seperti berikut :-

1 X Gaji pokok semasa X 300 bulan.
600

(b) Pegawai bertaraf jawatan tetap dan mencarum kepada KWSP.

Jumlah pinjaman atas baki kelayakan semasa iaitu amaun perbezaan di antara kelayakan semasa dengan pinjaman pertama.

(ii)Bayaran Wang Proses adalah RM 2.00 bagi setiap RM 1,000 pinjaman yang dipohon tertakluk kepada tiap-tiap ribu ringgit yang hampir ( RM 500 dan ke atas dikenakan tambahan RM 2.00 )

(iii)Tempoh maksima bayaran balik pinjaman adalah 20 tahun bagi peminjam yang berpencen. Bagi peminjam yang mencarum kepada KWSP pula tempoh bayaran balik adalah terhad kepada umur persaraan wajib.

(iv) Bagi pinjaman jenis IV ( Pembelian tanah untuk tujuan mendirikan rumah di atasnya ) kelayakan maksima adalah tidak melebihi 50% dari kelayakan semasa dan tempoh maksima bayaran balik adalah 10 tahun

(v) Peminjam diwajibkan mengambil Insurans/Takaful Gadai janji dan Insurans/Takaful pemilik rumah kediaman yang disediakan oleh Pihak Berkuasa memberi pinjaman.

(vi) Kadar faedah Bayaran Balik Pinjaman adalah 4% setahun.

(vii)Permohonan hendaklah sampai ke BPP tidak lewat dari 6 bulan sebelum tarikh persaraan bagi peminjam yang berpencen sahaja.

(viii) Borang setuju terima pinjaman hendaklah dilengkapkan dan dikembalikan kepada BPP dalam tempuh (3) bulan dari tarikh surat kelulusan pinjaman dikeluarkan. Sekiranya borang tersebut tidak diterima dalam tempoh yang ditetapkan kelulusan pinjaman perumahan tersebut akan ditarik balik / dibatalkan secara automatik.

(ix) Syarat-syarat dan peraturan lain sepertimana yang terkandung di dalam Pekeliling Perbendaharaan Bil. 10/94 dan Bil.6/95 masing-masing dan pindaan-pindaan kepada kedua-kedua nya adalah tidak berubah dan masih berkuat kuasa dari semasa ke semasa.

3. Syarat-Syarat Pinjaman/Pembiayaan Bagi Kerja-Kerja Ubahsuai Rumah

SYARAT-SYARAT PINJAMAN PEMBIAYAAN BAGI KERJA-KERJA UBAHSUAI RUMAH

i Permohonan membuat pinjaman / pembiayaan untuk kerja-kerja ubahsuai rumah hanya dibenarkan bagi harta yang telah dibeli melalui pinjaman / pembiayaan perumahan perbendaharaan sahaja.

ii Permohonan hanya boleh dibuat selepas 5 tahun dari tarikh surat kelulusan bagi pinjaman / pembiayaan Jenis 1 dan Jenis V ATAU 5 tahun dari tarikh pengeluaran bayaran 95% / 100% dikeluarkan bagi pinjaman / pembiayaan Jenis II dan Jenis III.

iii. Pemohon atau ‘spouse‘ ( bagi pinjaman / pembiayaan bersama ) yang masih mempunyai tunggakan bayaran balik pinjaman / pembiayaan tidak layak dipertimbangkan.

iv Permohonan pinjaman / pembiayaan bagi kerja-kerja ubahsuai rumah hanya dibenarkan sekali sahaja.

v Amaun pinjaman / pembiayaan adalah perbezaan di antara kelayakan semasa (mengikut gaji hakiki) dengan amaun yang telah diambil atas pembelian harta terdahulu, tidak termasuk Perlindungan Takaful / Insurans Gadaijanji dan Pemilik Rumah.

vi. Bagi pemohon yang memilih skim jawatan tetap dan berpencen, tempoh maksima bayaran beliau adalah tidak lebih dari 25 tahun.

vii. Bagi pemohon yang memilih skim jawatan tetap dan mencarum KWSP, tempoh maksima bayaran balik adalah baki tempoh berkhidmat sebelum tarikh umur persaraan wajib.

viii. Pemohon hendaklah melantik Pemegang Pertaruhan dengan mengemukakan Akujanji Pemegang Pertaruhan seperti Format Borang 4A/2000 ( Kes Assignment) atau 4B/2000 ( Kes Gadaian ).

ix. Pemohon hendaklah mengemukakan Laporan Penilaian kepada Pejabat Penilaian dan Perkhidmatan Harta, Kementerian Kewangan di mana harta berada mengikut Format Borang 1/2000.

x. Jika Hakmilik telah dicagarkan kepada mana-mana Institusi Kewangan selain daripada Kerajaan Malaysia sebagai Pemegang Gadaian kedua, pemohon perlu mendapat surat pengesahan daripada Institusi Kewangan berkenaan terlebih dahulu yang bersetuju untuk menangguhkan gadaian bagi membolehkan Kerajaan Malaysia didaftarkan sebagai Pemegang Gadaian Kedua dan institusi kewangan berkenaan sebagai Pemegang Gadaian Ketiga.

xi. Bagi Kes Assignment, jika Hakmilik Individu / Strata telah dikeluarkan, pinjaman / pembiayaan untuk kerja-kerja ubahsuai rumah hanya boleh dipertimbangkan setelah Hakmilik Individu / Strata dipindahmilik kepada nama peminjam / penerima biaya dan digadaikan kepada Kerajaan Malaysia.

xii. Bagi kes bayaran balik pinjaman / pembiayaan perumahan yang sedia ada yang belum lagi diselesaikan sepenuhnya, skim pinjaman / pembiayaan sama ada SPPP atau SPPPI hendaklah mengikut skim pinjaman / pembiayaan yang sedia ada.

xiii. Kerja-kerja ubahsuai rumah hanya boleh dimulakan selepas surat tawaran kelulusan pinjaman / pembiayaan dikeluarkan oleh Bahagian Pinjaman Perumahan Perbendaharaan.

xiv. Permohonan ubahsuai rumah bagi pembiayaan bersama (SPPI), hendaklah dipohon secara bersama oleh suami isteri.

xv. Permohonan hendaklah sampai ke Bahagian Pinjaman Perbendaharaan ( BPP) tidak lewat dari enam (6) bulan sebelum tarikh bersara bagi pemohon yang memiliki skim jawatan tetap dan berpencen.

xvi. Tawaran pinjaman / pembiayaan hanya berkuatkuasa selepas peminjam / penerima biaya menyempurnakan Borang Setuju Terima Pinjaman / Pembiayaan (Lampiran E) dan dikembalikan kepada BPP

xvii. Pinjaman kerja-kerja ubahsuai tidak dibenarkan untuk pembelian ataupun pembinaan aksesori rumah.

Panduan Pinjaman Perumahan Kakitangan Kerajaan (Bahagian 2)
SENARAI KERJA-KERJA UBAHSUAI RUMAH YANG LAYAK DIPERTIMBANGKAN

A. UBAHSUAI BAHAGIAN DALAMAN

1. Ubahsuai ruang tamu
- kabinet bawah tangga
- memecah dan mengganti lantai
- mengganti pintu /tingkap
- memasang plaster siling berbunga

2. Ubahsuai/tambahan bilik air
- memecah dan mengganti lantai/dinding
- shower
- tangki air
- bath tub
- mangkuk tandas
- pintu bilik air
- memasang pintu PVC
- singki air
- cermin muka
- penyangkut tuala
- bekas sabun

3. Ubahsuai /tambahan bilik tidur
- pasang siap almari bilik tidur
- memecah dinding dan mengubah kedudukan bilik tidur
- menambah loteng bilik
- mengganti pintu/tingkap

4. Ubahsuai dapur
- mengganti lantai/dinding
- kabinet pasang siap
- mengganti pintu/tingkap

5. Ubahsuai tangga

6. Membina tembuk /arch over antara ruang makan dan dapur

B. TAMBAHAN BANGUNAN

1. Membina bahagian hadapan rumah

2. Membina bahagian dapur

3. Membina garaj kereta (car porch)

4. Pembinaan pagar tembuk termasuk pasang siap tong sampah, loceng rumah dan peti surat

5. Retaining wall sahaja

C. PELBAGAI

1. Pemasangan paip air

2. Pemasangan sesaluran air

3. Pembentungan/sistem peparitan

4. Tambak/tambun tanah

5. Land scape termasuk menanam rumput

6. Pendawaian semula semua peralatan elektrik termasuk pemasangan punca, kebal, pembumian,
alat pencegah/pengujian kilat khas dan alat pencegah keselamatan ( alarm system)

7. Mengilatkan lantai (grinding)

8. Mengecat keseluruhan rumah

9. Kertas dinding (wall-paper)

10. Meroboh bangunan

11. Pembersihan/pembuangan sisa-sisa bangunan

12. Bagi Anggota Pentadbiran, ‘Guard House’ boleh dipertimbangkan jika layak

SENARAI KERJA-KERJA UBAHSUAI RUMAH YANG TIDAK LAYAK DIPERTIMBANGKAN

1. Accessories
- alat penghawa dingin
- bekas/alas alat penghawa dingin ( tray for aircond)
- tampal dinding (plastering) selepas pemasangan alat penghawa dingin
- kipas angin
- lampu-lampu
- television
- peti sejuk
- komputer
- water heater
- solar dan pemasangan
- astro
- karpet (permaidani)
- dapur gas
- alat penyedut asap
- alat penyedut habuk
- alat perabut mudah alih seperti kerusi-meja, almari, katil dan sebagainya
- arial dan amplifier
- telefon
- menara tangki air di luar rumah
- bidai (langsir)

2. Soil Treatment

- Anti termite ( kerja-kerja mencegah dan menghapus anai-anai dan serangga )

3. Preliminaries

- menjamin keselamatan bangunan
- menjamin keselamatan pekerja-pekerja
- penyediaan pelan bangunan
- kos guaman
- penyeliaan pekerja

4. Kos Juru Perunding (Consultancy fees)

- penyeliaan dan penyelarasan kerja-kerja ubahsuai

Panduan Pinjaman Perumahan Kakitangan Kerajaan (Bahagian 3)
4. Jenis-Jenis Pinjaman /Pembiayaan



5. Kelayakan Pinjaman/Pembiayaan

Sila pastikan bahawa AMAUN KELAYAKAN pinjaman/pembiayaan adalah berdasarkan kepada GAJI HAKIKI SEMASA permohonan
Sila rujuk Pekeliling Perbendaharaan SPPP bil 6/1995 @ SPPPI bil.10/1994
Amaun pinjaman/pembiayaan yang ditawarkan adalah berdasarkan pada amaun terendah diantara kelayakan/harga rumah/bakihutang bank @ laporan penilaian.

Read more...

Pakej Pinjaman: Apa itu ZEC / NZEC & FMC / NFMC

Sumber:wsahabat.blogspot.com/2009/05/pakej-pinjaman-apa-itu-zec-nzec-fmc.html
Saya seringkali ditanya oleh rakan-rakan saya yang ingin membuat pinjaman atau pembiayaan semula perumahan tentang ZEC / NZEC & FMC / NFMC. Jadi pada kali ini, saya ingin menulis dan berkongsi dengan anda semua di luar sana apa maksud sebenar dan terma tersebut.

Seringkali kita melihat pakej-pakej pinjaman perumahan yang ditawarkan oleh setiap bank di negara ini mempunyai terma seperti tajuk di atas. Terma tersebut merupakan kata lain bagi kos-kos sampingan yang perlu di tanggung untuk setiap permohonan pinjaman perumahan.

Secara amnya untuk setiap pinjaman perumahan, terdapat beberapa kos sampingan seperti:

1) Yuran guaman
2) Duti Stamp
3) Yuran penilaian (valuation)
4) lain-lain

Kesemua kos-kos tersebut perlu ada untuk menjadikan pinjaman itu sah di sisi undang-undang dan ianya hendaklah di jelaskan oleh bakal peminjam atau ditanggung oleh pihak bank sendiri. Kadar interest bagi setiap pakej pinjaman juga akan dipengaruhi oleh kos-kos sampingan tersebut. Saya huraikan satu persatu:

ZEC (Zero Entry Cost) atau FMC (Free Moving Cost)
Jika anda terlihat pakej pinjaman perumahan yang ada menggunakan perkataan seperti di atas, ini membawa maksud bahawa setiap kos sampingan akan di tanggung oleh pihak bank. Pakej sebegini sangat sesuai bagi mereka yang tidak mahu memikirkan atau tidak mempunyai dana yang mencukupi untuk membuat permohonan pinjaman. Akan tetapi kadar interest yang dikenakan oleh pihak bank selalunya agak tinggi berbanding NZEC atau NFMC

NZEC (Non Zero Entry Cost) atau NFMC (Non Free Moving Cost)
Terma di atas pula merujuk kepada setiap kos sampingan akan ditanggung oleh bakal peminjam. Pakej sebegini amat sesuai bagi mereka yang mempunyai dana yang berlebihan. Secara tidak langsung kelebihan bagi golongan yang memilih pakej sebegini adalah, kadar interest selalunya agak rendah, dan untuk jangkamasa panjang ia akan menguntungkan dari segi interest berbayar. Selalunya, kos sampingan akan dikira lebih kurang 3% daripada jumlah pinjaman

Saya beri contoh untuk membezakan kadar interest yang dikenakan oleh pihak institusi kewangan di dalam pakej pinjaman perumahan mereka:

Saya ambil contoh pakej pinjaman dari ING Insurance:

Jumlah Pinjaman: RM250,000
Pakej:
ZEC: 5.25% kadar tetap (sepanjang tempoh)
NZEC: 4.85% kadar tetap (sepanjang tempoh)

Untuk kiraan bayaran bulanan dan interest berbayar pada bagi kedua-dua pakej adalah seperti berikut:

ZEC: 5.25% kadar tetap (sepanjang tempoh)
Kos Guaman = PERCUMA

Jumlah Pinjaman: RM250K
Tempoh Pinjaman: 30 tahun
Kadar Interest: 5.25% tetap
Bayaran Bulanan: RM1381.00
Jumlah Interest: RM246,983
Jumlah Keseluruhan: RM496,983

NZEC: 4.85% kadar tetap (sepanjang tempoh)
Kos Guaman = tidak lebih dari RM7500

Jumlah Pinjaman: RM250K
Tempoh Pinjaman: 30 tahun
Kadar Interest: 4.85% tetap
Bayaran Bulanan: RM1319.00
Jumlah Interest: RM224,923
Jumlah Keseluruhan: RM474,923

Daripada kiraan saya di atas, dapat dilihat bahawa;

Kos Guaman = Berpihak kepada pakej ZEC kerana percuma, anda tidak perlu menanggung kos guaman
Bayaran Bulanan = Berpihak kepada pakej NZEC kerana bayaran bulanan hanya RM1319.00 berbanding RM1381.00 (jimat sebanyak RM62 sebulan)
Jumlah Interest = Berpihak kepada NZEC kerana jumlah keseluruhan hanya RM224,923 berbanding RM246,983 (jimat sebanyak RM22,061)

Jadi, kesimpulan yang dapat saya buat adalah, bagi mereka yang mempunyai dana yang mencukupi, pilihlah pakej jenis NZEC kerana penjimatan dari segi bayaran bulanan dan interest dapat dinikmati, akan tetapi pilihlah ZEC jika anda tidak mempunyai dana atau mahu menggunakan dana lebihan tadi untuk tujuan tertentu yang lebih bermanafaat.

Sekian perkongsian saya buat kali ini, sebarang komen atau pertanyaan boleh dinyatakan di ruangan komen di bawah.

Terima Kasih :)

Read more...

Bank loan. Monthly, Fortnightly or Weekly Payment?

Sumber:investandtravel.blogspot.com
One of the ways to reduce your loan amount is by finding loan facilities which have lowest interest rate. With current economic situation, government may reduce Base Lending Rate (BLR) in order to boost the economy.

However, beside low BLR, Bank also give more discount. Some bank may offer up to BLR - 2.3% for the interest rate.

Another ways is by increasing the number you pay to the banks. Instead of monthly payment, you can pay the bank weekly or every 2 weeks.

Let's assume RM100k loan with interest rate 3.5% (5.55 - 2.00) for 30 years.

Monthly payment if pay:-
Monthly = RM 449.04
Forthnighly = RM 207.16 X 2 = RM414.32
Weekly = RM 103.56 X 4 = RM 414.24

Different per month = RM 494.04-414.24 = RM 79.80

Saving in 30 years = RM 79.80 X 30 X 12 = RM 28728

So, any wonder where the bank got the money?

Read more...

Home Loan

Sumber:http://forum.lowyat.net/index.php?showtopic=559259&st=0&p=14239555&#entry14239555
I'm currently searching for homeloan now,
here's my list of common questions on loan,
if there's more, please feel free to post/comment

---------------------------
1. BLR cap
2. charges & setup fee (month fee, account setup)
3. Application processing fee
4. Capital prepayment
- withdrawal of prepayment charges
- charges / notice of prepayment
- amount of prepayment (not exceed annual installment?)
- the minimum amount of outstanding loan principle that must be maintained till the end of lock-in period
5. installment calculation / tables
6. insurance
- mrta/mlta
- finance into loan amount?
- compulsory / optional?
- mrta will gone if refinance
7. locking period
- 5 years from final disbursement or first disbursement?
- normally 3% penalty
8. installment starts when
- on loan agreement
- on first disbursement
- on final disbursement
9. loan person involve
- snp 2 names, loan requires 1 or 2 names?
10. loan statement
- available online?
- printed statement? (charging fee)
11. package?
- zero moving cost? (zmc) - include what fees.
- non zero moving cost? (nzmc)

1. BLR cap
> BLR now is around 6.75%.
> Now it depends on how much discount the bank is willing to offer to offset the BLR.
> If you are afraid that BLR would go up in the future, fixed rate is the way to go.

2. charges & setup fee (month fee, account setup)
> Charges would be the administration fee and lawyer fees.
> Don't understand your concern on account setup.
> But for flexi loan, there would be a more in depth look into account setup and payment offset on interest portion.

3. Application processing fee
> No processing fee, but admin charges as mentioned in point 2.

4. Capital prepayment
- withdrawal of prepayment charges
- charges / notice of prepayment
- amount of prepayment (not exceed annual installment?)
- the minimum amount of outstanding loan principle that must be maintained till the end of lock-in period
> Seems you're focusing on flexi loan. Different bank would have different rules and procedures. HSBC and SCB charges monthly RM10 for maintenance of account. But withdrawal can be done anytime with ATM as long as the balance in the account is more on top of the current mortgage payment.
> Most other banks that offer flexi loan might operate in a way that you'll need to notify the bank if you wanted to withdraw money. Than charges would be based either on the amount withdrawn or per transaction. No monthly charges for this case.
> For flexi loan, one doesn't need to notify the bank on prepayment. Because any excess would offset the balance and interest calculation would be after offsetting the balance.
> For conventional loan, usually one needs to notify the bank on prepayment as the bank needs to re-calculate the interest charged and adjust either the loan tenor or the monthly mortgage repayment amount.
> Don't understand the bold part but guessing again you're asking on flexi loan. So if flexi loan, than there's no minimum amount of outstanding balance to maintain. You can basically "pay" all your outstanding balance; but you DO NOT REDEEM the property until the lock in period is over.

5. installment calculation / tables
> You can use PMT function to calculate the amortised monthly repayment.
> I've attached a stimulation table for you to play with. (Enter value into those highlighted in green)
> You'll get to know how much is the principal and interest charged per month.
> Total Loan Amount - Total want to borrow
> CMV - Value of the property
> TL% - put 100% if no OD to borrow
> Interest TL - Interest quoted i.e. BLR - x%
> Interest OD - if there's any borrowing in OD.
> Tenure - Years of borrowing
> PI Period - For OD (Leave all OD cell 0 if no OD)

6. insurance
- mrta/mlta
- finance into loan amount?
- compulsory / optional?
- mrta will gone if refinance
> I would never advise the insurance amount to be included into financing package. Reason being it could be a small premium, but after added into mortgage and amortise it for 30 years....than imagine the amount grew.
> MRTA or MLTA depends. For me, I took MLTA privately renewable every year.
> Reason why I took MLTA is because I paid lesser amount of premium when my loan reduced and since I'm not conventionally paying for the full 30years tenor (plan to settle everything within the time frame of 10 years), so MRTA doesn't appeal to me as I would be obliged to pay more.

7. locking period
- 5 years from final disbursement or first disbursement?
- normally 3% penalty
> Always starts from the final disbursement.
> penalty charges would varies between banks and the point of redemption.

8. installment starts when
- on loan agreement
- on first disbursement
- on final disbursement
> usually upon first disbursement. It's known as progressive payment as the initial amount of loan repayment would be by stages depending on how much money the bank had released.

9. loan person involve
- snp 2 names, loan requires 1 or 2 names?
> Not too sure, if SNP 2 names, I think the bank would want 2 names in the loan agreement. Logically thinking is if there's problem with loan re-payment, the bank still have the right to caveat the property or sell off the property in auctions. But if one name in the loan, the bank technically cannot confiscates the property as the other name didn't loan it from the bank and holds 'half' of the property. But it's better to confirm with the bank. I'm just guessing

10. loan statement
- available online?
- printed statement? (charging fee)
> some banks give monthly statement, some gives quarterly, some half yearly or even yearly. So depending on bank. Fees also need to ask.
> for eg, flexi account with HSBC and SCB would give monthly statement and the additional charge on top of the monthly repayment is RM10.

11. package?
- zero moving cost? (zmc) - include what fees.
- non zero moving cost? (nzmc)
> It's just marketing tactics.
> ZMC, all the lawyer fees are borne by the bank and armotised into your loan. So they gave slightly lower interest rate because they would be earning more in totality.
> I don't usually advise consumer to take up ZMC which the same logic and advise on MRTA included into loan financing.

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Pinjaman Kewangan

Sumber:teamrahsiabank.blogspot.com
Pinjaman Berjangka

- Ansuran bulanan tetap.
- Pinjaman Pokok + Faedah.
- Dalam tempoh tertentu.

Overdraf

- Boleh digunakan bila-bila masa berdasarkan had kredit.
- Faedah berdasarkan baki harian.
- Ansuran bulanan tidak tetap.
- Bayaran balik fleksibel.

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Malaysia Base Lending Rate (BLR) Since Year 1976

Sumber:fortunesense.blogspot.com/2008/12/malaysia-base-lending-rate-blr-since.html
Below info shows the Malaysia Base Lending Rate (BLR) for January of each year from year 1976 to year 2009.


Year BLR Remarks
2009 6.50 5.95 (February)
5.55 (March)
2008 6.75
2007 6.75
2006 6.00
2005 6.00
2004 6.00
2003 6.50
2002 6.50
2001 6.75
2000 6.75
1999 8.00
1998 10.50 12.27%
1997 9.25
1996 8.50
1995 6.60
1994 8.25
1993 9.50
1992 9.00
1991 7.50
1990 7.00
1989 7.00
1988 7.50
1987 10.00
1986 10.75
1985 12.25
1984 10.75
1983 12.00
1982 8.50
1981 8.50
1980 7.50
1979 7.50
1978 7.50
1977 8.50
1976 8.50

From the record, it shows that the highest BLR Malaysia ever has is 12.27% in year 1998. The average is 8.1%. Probably you can use this to justify whether it is better to take the fixed rate loan or the BLR - x% housing loan.

At this moment, the BLR is 5.55%, the lowest BLR rate since 1976. Do inform if you have a more accurate information on the lowest BLR. With such low BLR, do you think this is a good time for investment ?

Updated : 25 February 2009

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Nasihat untuk Refinance

Sumber:forum
Nasihat saya....

Sebelum nak refinance kena tanya pada diri kita
Kenapa nak refinance, Apa Matlamatnya,
Nak cash, nak bayar bulanan rendah, saja nak buat hutang etc...

Katakanlah matlamat nak buat cash..
Jadi kena calculate...
Berapa kos untuk fully settle - Ada penalty???
Berapa kos untuk refinance
Berapa total new refinance loan...
Berapa cash dapat?
Berapa return cash akan generate?

Kalau cashflow refinance ni +ve... Teruskan tiada masalah...

Pasal Nak cari bank pulak...
Kita jangan bagi tahu macam ni
Quote:
Originally Posted by irrisa
Saya pun minat nak refinance rumah.
Lokasi di Kajang
Current Value RM160k
Balance loan RM80K+
Ini dikira peminjam emas...
Sangat disukai oleh bank...
Sebab tak tahu ape benda...

Patutnya tanya bank macam ni...
Contoh:

Please give me your best offer for housing loan with this parameter

Double Story House, 2km from Kajang town
5 years old, Leasedhold
Current value 160k

Loan margin 85%
Daily rest, monthly compounded
Prepayment is allowed without asking permission
Prepayment any value is allowed
Prepayment reduce principle
Lock in period 3 years or better/less
Etc...

Please Quote rate for Zero Moving Cost (ZMC), Non Zero Moving Cost (NZMC)

Lepas tu bank akan perasan..
This customer ada knowledge....
Don't play-play...

Dekat internet banyak info....
Info free dari Loan Consultant pun ada...
Siap boleh datang rumah untuk discuss pun ada...

Semuanya available...

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Menyelesaikan Pinjaman Perumahan dengan cepat?

Sumber:lupa...
April 4th, 2008
Saya fikir hampir semua orang yang membeli rumah sendiri akan berharap dapat menyelesaikan pinjaman perumahan kita secepat mungkin.
Terutama pinjaman perumahan yang tinggi nilainya (kadar faedah juga berbeza-beza dari satu bank dengan bank yang lain). Saya tertarik dengan perbincangan dari forum Bicara Jutawan, jadi tak perlulah saya tulis semula apa yang dibincangkan di sana. Cuma ada beberapa perkara yang patut kita pertimbangkan sebelum berura-ura untuk membuat pinjaman.
Antara kriteria yang penting ialah kadar faedah, tempoh pinjaman, lock-in period (tempoh bank letakkan untuk elakkan kita refinance ke bank lain, atau penalti akan dikenakan), dan juga kemudahan untuk membayar ansuran bulanan lebih dari yang ditetapkan untuk memendekkan tempoh pinjaman (daily rest / monthly rest).
Memandangkan saya lebih cenderung kepada pinjaman berbentuk Islamic, pilihan pakej tidak banyak, malah untuk hartanah rizab melayu semi permanent (rumah batu separuh, kayu separuh – rumah kampung), pilihan amat-amat terhad. Saya agak terkilan kerana kadar yang ditawarkan oleh Maybank untuk pinjaman perumahan yang saya pohon untuk rumah di Kg. Datuk Keramat ditawarkan pada kadar BLR + 4% (BLR sekarang ialah 6.75%). Bermakna pinjaman perumahan saya dikenakan faedah (walaupun dalam istilah islamic banking dipanggil lain) setinggi 10.75%!.
Cuma, kadar tersebut akan tetap dari mula sehinggalah tamat tempoh pinjaman. Jadi untuk orang macam saya yang kadang-kadang tak ada masa dan takut terlari bajet, saya lebih suka tahu lebih awal apakah komitmen bayaran ansuran bulanan yang saya perlu jelaskan. Senang untuk saya selaraskan perancangan dan perbelanjaan kewangan saya.
Sebaiknya, sebelum pinjaman diambil, sangat wajar kita lakukan perkara di bawah ini:-
1) Tinjau semua pakej yang ditawarkan oleh bank-bank. Dapatkan dengan jelas butiran pinjaman, kadar faedah, pakej yang ditawarkan, promosi dan lain-lain.
2) Lihat kadar faedah dan tempoh bayaran balik yang ditawarkan serta had umur (ada yang tempoh bayaran balik sampai 30 tahun! – baik untuk dapatkan ansuran bulanan yang lebih rendah)
3) Lihat kemudahan untuk membayar lebih dari ansuran yang ditetapkan (daily rest / monthly rest). Jika dapat yang daily rest lebih bagus, kerana kita boleh bayar sekerap yang mungkin dalam satu bulan untuk memendekkan tempoh bayaran balik keseluruhan pinjaman.
4) Zero-moving-cost atau tidak (ZMC bermaksud kos guaman, valuer dan lain-lain ditanggung bank – kita juga yang bayar sebenarnya – sebahagian dari jumlah pinjaman. Jika tiada ZMC, kadar faedah lebih rendah biasanya. Kos guaman dan lain-lain ditanggung oleh pembeli)
5) Tempoh lock-in oleh bank (ada yang sampai 5 tahun!). Jika lebih singkat lebih bagus.
6) Terma dan syarat (rizab melayu, jenis hartanah, status – dalam pembinaan atau sudah siap)
7) Diskaun dan promosi-promosi yang disertakan. Ada kala kadar faedah direndahkan sekejap untuk tarik permohonan baru.
8 )Lawati bank-bank berkenaan untuk bertanya secara terus dengan pegawai pinjamaan perumahan. Siapkan dahulu soalan-soalan yang ingin ditanya sebelum berkunjung.
Setelah kesemua perkara diatas dibuat penilaian, susun pakej-pakej mengikut keutamaan dan kelebihan dari yang lain. Kemudian, pilihlah pakej yang paling sesuai (mungkin bukan yang terbaik) dengan kemampuan kewangan kita.
Macam kes saya, ada 2 kekangan – pertama, hartanah adalah rizab Melayu, jadi tak banyak bank yang boleh terima permohonan pinjaman. Kedua, saya ingin pinjaman Islamic, jadi kadar faedahnya lebih tinggi berbanding “Flexi Home Loan”. Ini kerana, bank perlu tetapkan satu kadar keuntungan yang munasabah kerana apabila BLR naik, bank tidak dapat menanggung kos berkenaan daripada pinjaman yang telah diluluskan.
Untuk memendekkan tempoh bayaran balik ada beberapa cara. Pertama ambil pakej yang ada option daily rest. Daily rest bermaksud kiraan faedah diambil secara harian dari jumlah baki pinjaman. Bermaksud lebih kerap kita bayar, lebih rendah baki pinjaman, lebih singkat tempoh bayaran balik.
Contohnya bayaran bulanan pinjaman perumahan kita ialah RM1200. Untuk dapatkan kelebihan daily rest, kita bayar 2 kali sebulan. Bayar dahulu RM600, 2 minggu lebih awal, dan RM600 lagi di akhir bulan (masa due date bayaran bulanan biasa). Dengan cara ini, baki tertunggak dapat dikurangkan setiap 2 minggu! kerana kita berjaya bayar pinjaman setiap 2 minggu. Kesannya dapat kita lihat untuk satu tempoh tertentu, paling tidak kita pasti akan jimat beberapa tahun!.
Namun ada juga bank yang tidak memberikan kemudahan daily rest sebab mereka mahu kita membayar ansuran bulanan sehingga tamat tempoh pinjaman yang ditetapkan – lebih menguntungkan mereka! Paling hampir kepada daily rest ialah monthly rest, di mana kadar baki bulanan yang akan diambil kira semasa pengiraan faedah untuk bayaran balik. Maybank membenarkan advance payment sehingga 6 bulan sahaja pada satu-satu masa.
Satu lagi kaedah ialah OD (overdraft) + mortgage (refinance). Kaedah ini saya tak faham lagi, mungkin saya kena belajar dan kaji dahulu baru saya boleh ulas. Memang jika kita refinance pinjaman perumahan yang telah tamat lock-in period ke bank yang menawarkan kadar yang lebih kompetitif, ianya lebih menjimatkan ansuran bulanan kita. Malah adakalanya apabila kita refinance rumah mengikut harga pasaran (market value), kita akan dapat lebihan wang dari perbezaan jumlah pinjaman dari bank lama (baki yang ada lebih rendah) dari jumlah pinjaman yang dipohon dari bank baru.
Apa yang penting di sini ialah, jangan malas untuk membuat “homework” bila ianya melibatkan pinjaman!.

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How To Calculate Effective Interest Rate (EIR)

Sumber:www.bebas-hutang.com/?p=192#more-192
The effective interest rate (EIR), effective annual interest rate, Annual Equivalent Rate (AER) or simply effective rate is the interest rate on a loan or financial product restated from the nominal interest rate as an interest rate with annual compound interest. It is used to make loans with different compounding terms (daily, monthly, annually, or other) more comparable.

Formula to calculate EIR for Daily, Weekly or Monthly compound is as below,

While for Flat Rate/Fixed Rate, the formula is as below,

Quite complicated huh?…don’t panic. I’ve created EIR calculator using Excel and you can download it from here => Effective Interest Rate Calculator.

Why we need to know about EIR?…as you know, there are several type of interest…daily rest, monthly rest, flat rate…so EIR to be used to comparing these interest type with a standard rate/calculation.

Lets calculate EIR for different interest type.

* Home Loan [ monthly rest, 6% per annum] => EIR = 6.17%
* Overdraf [ daily rest, 6% per annum] => EIR = 6.18%
* Personal Loan [ flat rate, 6% per annum ] => EIR = ~11.4%

Could you see the different? Even though all of loan above offering the same interest rate per annum, which is 6%, but EIR for personal loan is more higher that what is announed by bank. So they actually charges you more in term of EIR.

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Daily rest, Monthly rest or Fixed rate?

Sumber:www.bebas-hutang.com/?p=43#comments
Fixed or Variable rate loan? Which is better?

Fixed interest rate
Interest rate charged on the loan will remain the same through the term of the loan, no matter what market interest rates do. Means your payments being the same over the entire term. Whether a fixed-rate loan is better for you will depend on the interest rate environment when the loan is taken out and on the duration of the loan. But with Fixed rate, you have no chance to settle your loan early since its already fixed.

Variable interest rate
Interest rate charged on the outstanding balance varies as market interest rates change. Means your payments will vary as well (as long as your payments are blended with principal and interest). Benefit from this is you could settle your loan early if your keep paying more than regular installments because your interest is based on current outstanding balance.

For me, I would say Variable rate is much better since we could reduce loan period and total payment for interest.

Then in Variable interest, we have Daily rest and Monthly rest that mostly used now.
From this two, which one is better?

Daily rest
Interest will be calculated based on the previous day’s outstanding balance. The advantage for daily rest is that you have a chance to save more if you like to make lots of pre-payments on top of your regular instalments.

Monthly rest
Your loan interest for the current month will be calculated based on the previous month’s outstanding balance.

Simple calculation to compare this 2.
Let’s say,
Loan amount = $100,000
Interest rate = 6%

Amount of interest that will be charged;
Daily rest = 100,000 x 6% x 30/365 = $493.15
Monthly rest = 100,000 x 6% x 1/12 = $500.00
=> Interest for Daily rest is lower than Monthly rest…you save $6.85 for that month.

If your monthly installment is $644, for Daily rest, paid for principal(pokok) is $150.85, while with Monthly rest, you paid $144. This means, with Daily rest, you’re paying more on your principal. This is how you can settle your loan early.

Hope you guys are clear now which interest rate you should looking for when applying loan.

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